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Saudi Entertainment Ventures (Seven) is evaluating commercial proposals from firms for a contract to build its next entertainment complex in Al-Ahsa, Saudi Arabia.
MEED understands that Seven received bids for the project in November last year.
“The bid evaluation process is going on, and the contract will be finalised by the end of Q1,” sources close to the project told MEED.
Seven issued the tender in late August 2024.
The Al-Ahsa entertainment complex will have a built-up area of about 94,000 square metres.
The project is expected to be completed by 2027.
Seven is also making progress on its other schemes in the kingdom.
Seven plans to invest SR50bn ($13.3bn) in developing 21 integrated entertainment destinations in 14 cities in the kingdom as Riyadh pursues its strategy to move away from hydrocarbons, create jobs and improve the quality of life for citizens and residents.
The complexes are intended to help position the kingdom as an entertainment, culture and tourism hub for the region.
In May 2024, the Public Investment Fund announced the merger of Seven into Qiddiya Investment Company.
“The move is in line with the strategy to establish an entertainment, sports and culture powerhouse in the kingdom,” the state-owned Saudi Press Agency reported on 14 May 2024.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.meed.com ’
