Oil Updates – Brent slips toward $80/bbl ahead of OPEC+ meeting

Oil Updates – Brent slips toward $80/bbl ahead of OPEC+ meeting
Oil Updates – Brent slips toward $80/bbl ahead of OPEC+ meeting

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Entertainment Ventures, also referred to as SEVEN, is set to construct a new destination in Asir with an investment of SR1.3 billion ($347.8 million).

SEVEN, a wholly-owned subsidiary of the Saudi Public Investment Fund, stated that the project is strategically positioned between Abha and Khamis Mushait, near Abha International Airport, and covers an area of 64,000 sq. meters.

The building spans 79,000 sq. meters, making it a one-of-a-kind entertainment destination.

“The Asir region is witnessing an unprecedented renaissance in all fields and sectors amid the support and great interest of our successful leadership - may God protect them - and the SEVEN project is considered one of the basic projects in the region, a step toward making Asir a global destination throughout the year,” Prince Turki bin Talal Al-Saud, chairman of the board of directors of the Asir Development Authority, said.

The project’s design carries the signature of the international architecture, design, and planning firm Gensler and is inspired by the Asir region’s urban identity, which is defined by its unique nature, the authenticity of its people, and the distinctive beauty embodied in its forts and castles.

“SEVEN’s entertainment destination in Abha is an ambitious project that reflects our efforts to enhance the entertainment sector throughout the Kingdom of Saudi Arabia and work in line with the goals of Vision 2030,” Abdullah bin Nasser Al-Dawood, chairman of the board of directors, said.

He added: “The entertainment destination in Abha will contribute to the GDP by more than SR4 billion, welcoming over 5 million visitors by 2030. Additionally, it will create hundreds of direct and indirect job opportunities for the residents of the Asir region.”

Furthermore, Modern Building Leaders Co. and SEVEN have agreed on the destination’s construction.

Olivier Crasson, CEO of Modern Building Leaders, stated: “MBL is honored to be among the leading companies working on Vision 2030 projects and is proud to be a national company in strategic partnership with SEVEN to execute this distinctive project, which is an icon of entertainment projects in the region.”

SEVEN's Abha destination is set to feature eight distinct entertainment zones. These include a family recreation center offering a range of activities, from train rides to an arcade and the Discovery Adventures area, which was developed in collaboration with Warner Bros. and drew inspiration from jungles to provide an immersive experience.

Moreover, the destination contains a multi-use hall for holding entertainment events and live shows, an indoor track for electric go-karts equipped with multi-level tracks, and a distinctive bowling alley that includes ten lanes featuring unique futuristic designs.

The destination also provides a variety of entertainment activities and venues, including a Play-Doh area, a cinema hall from AMC equipped with ten screens and integrated areas with an assortment of restaurants, cafes and retail stores.

In addition to forming international alliances in the entertainment industry, SEVEN is investing over SR50 billion to construct 21 locations that offer distinctive and cutting-edge experiences of the highest levels.

It is noteworthy that SEVEN aims to effectively contribute to developing the entertainment sector, building and operating destinations, and creating an environment that meets the needs of all segments of Saudi society in accordance with the highest international standards. 

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