Seven companies signed contracts worth $2.5 billion to develop entertainment facilities in the Kingdom in 2023
Saudi Entertainment Ventures (Seven), a wholly-owned subsidiary of Saudi government asset management agency Public Investment Fund, has awarded Egyptian contractor Hassan Alam Holding the contract to build a planned entertainment complex in Al-Khalj. It was concluded.
The development area is approximately 160,000 square meters (sq m) and is located in the Al Khuzama area of Al Khalj.
U.S.-based engineering firm Gensler and Lebanon's Dar Al Handassah will serve as consultants on the project.
Mace Group, headquartered in the UK, is a project management consultancy.
Bids for the main contract were issued in August last year and bids were submitted in September, according to data from regional project tracking firm MEED Projects.
The contract award for the Al Khalji entertainment complex follows the selection of local contractor Modern Building Leaders (MBL) for the estimated SR1.3 billion ($347 million) construction. Entertainment spots in Mecca.
In November, 7 people appointed to MBL An estimated 1.3 billion riyals ($347 million) entertainment complex will be built in Abha.
7 projects
Last year, Seven signed a deal worth about 10 billion Saudi riyals ($2.5 billion) to develop entertainment facilities in Saudi Arabia.
In October, the Saudi bin Laden group won. Approximately 5 billion Saudi Arabian contract Two Seven entertainment facilities will be built in the Dammam and Al-Khobar regions of the Kingdom's Eastern Province.
In February this year, MEED announced that the joint venture between Al Bawani and Urbaqon will 3 entertainment complexes In Saudi Arabia.
The contract includes the construction of entertainment projects in Tabuk, Yanbu and Medina.
project pipeline
Seven will invest R50 billion in the development of 21 integrated entertainment venues in 14 Saudi cities as Riyadh pursues a strategy to transition away from hydrocarbons, create jobs and improve the quality of life for citizens and residents It's a plan.
The complex aims to position the Kingdom as a regional entertainment, cultural and tourism hub in the post-COVID-19 era.