Seven awarded contracts worth $2.5bn in 2023 for the development of its entertainment destinations in the kingdom
Saudi Entertainment Ventures (Seven), a wholly-owned subsidiary of Saudi sovereign wealth vehicle the Public Investment Fund, has awarded the contract to build its planned entertainment complex in Al Kharj to Egyptian contractor Hassan Allam Holding.
The development covers an area of about 160,000 square metres (sq m) and is located in the Al Khuzama area of Al Kharj.
US-based engineering firm Gensler and Lebanon’s Dar Al Handasah are the project consultants.
UK-headquartered Mace Group is the project management consultant.
According to data from the regional projects tracker MEED Projects, the tender for the main contract was issued in August last year and the bids were submitted in September.
The contract award for the Al Kharj entertainment complex follows the selection of the local contractor Modern Building Leaders (MBL) to build the estimated SR1.3bn ($347m) entertainment destination in Mecca.
In November, Seven appointed MBL to build its estimated SR1.3bn ($347m) entertainment destination in Abha.
Seven projects
Last year, Seven awarded contracts worth approximately SR10bn ($2.5bn) for the development of its entertainment destinations in the kingdom.
In October, Saudi Binladin Group won contracts worth about SR5bn to build Seven’s two entertainment destinations in the Dammam and Alkhobar regions in the kingdom’s eastern province.
In February this year, MEED reported that the joint venture of Al Bawani and Urbacon had been awarded contracts totalling SR2.4bn for the construction of three entertainment complexes in Saudi Arabia.
The contracts cover the construction of entertainment projects in Tabuk, Yanbu and Medina.
Project pipeline
Seven plans to invest SR50bn 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 in the post-Covid-19 era as an entertainment, culture and tourism hub for the region.
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