Daily Newsletter

28 November 2023

Daily Newsletter

28 November 2023

Saudi Entertainment Ventures to build new destination in Aseer

The development is set to contribute to the country's GDP and Vision 2030 objectives.

November 27 2023

Saudi Entertainment Ventures (SEVEN) has announced its plans to build a new destination in the Aseer region of Saudi Arabia.

SEVEN, a wholly owned subsidiary of the country's Public Investment Fund, has commissioned Modern Building Leaders to carry out the construction of SEVEN Abha.

SEVEN Abha will have eight distinct attractions, including a family entertainment complex with several activities ranging from arcade games to VR zones.

The project is said to be SEVEN's fifth entertainment venue in the country and its first in the Aseer region.

The entertainment destination, worth more than SR1.3bn, is located between the cities of Abha and Khamis Mushait, near Abha International Airport.

The property covers an area of 64,000m² and has a built-up area of over 79,000m².

The site's architecture was inspired by the historic stone structures of the region and was designed by global architecture company Gensler.

SEVEN chair Abdullah Dawood said: “Abha represents another ambitious project in the framework of our efforts to support the entertainment sector across the kingdom following the objectives and goals of Vision 2030.

“We are forecasting a GDP [gross domestic product] contribution of more than SR4bn and over five million visitors by 2030. In addition to creating more than hundreds of direct and indirect jobs for the people of the Aseer region.

“We have been keen, in cooperation with the Aseer Development Authority and under the direct supervision of Prince Turki bin Talal bin Abdul Aziz Al Saud, to ensure that the architectural design of the destination is inspired by the ancient heritage of the region, while providing unique and distinctive entertainment attractions for guests of all age groups, enriching their quality of life.”

Visitors will be able to discover a variety of live entertainment events at the multifunctional facility, including indoor e-karting on multilevel courses, a ten-lane futuristic bowling concept, and a ten-screen cinema, among other activities.

Furthermore, SEVEN will provide a diverse choice of retail and food and beverage services.

Saudi Arabia construction market dynamics

Per GlobalData, between 2024 and 2027, the Saudi Arabian construction industry is projected to register an AAGR of 5% in real terms, supported by investments in various sectors such as data centers, logistics zones, renewable energy, housing, and tourism projects as part of the Kingdom’s ‘Vision 2030’ economic diversification plan. Construction activity in the energy and utilities sector is estimated to grow at an AAGR of 5.6%, supported by the government’s aim to increase the renewable energy capacity and achieving zero net carbon emissions by 2060.

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