PIF’s SEVEN unveils SAR 1.3bn investment in Aseer region

PIF’s SEVEN unveils SAR 1.3bn investment in Aseer region

Riyadh – Mubasher: Saudi entertainment ventures SEVEN has announced plans to invest more than SAR 1.3 billion in the Aseer region, according to a press release.

The entertainment destination is located between the cities of Abha and Khamis Mushait, near Abha International Airport.

The scheme will span 64,000 square metres (m2) with a built-up area exceeding 79,000 m2.

SEVEN, a wholly owned subsidiary of the Public Investment Fund (PIF), has assigned Modern Building Leaders to handle the construction works.

Prince Turki bin Talal bin Abdul Aziz Al Saud, Chairman of Aseer Development Authority, said: “SEVEN’s entertainment destination in Abha is one of the key projects in Aseer which will support our ambition to become a global destination all year round.”

Abdullah AlDawood, Chairman of SEVEN, noted: “We are forecasting a [gross domestic product] GDP contribution of more than SAR 4 billion and over 5 million visitors by 2030.”

He further highlighted: “In addition to creating more than hundreds of direct and indirect jobs for the people of Aseer region.”

PIF’s SEVEN unveils SAR 1.3bn investment in Aseer region