Qiddiya Investment Company (QIC) and Saudi Entertainment Ventures (SEVEN) are teaming up to create a lifestyle and entertainment giant in the Kingdom.
Saudi Entertainment Ventures (SEVEN), a wholly owned PIF company, now becomes wholly owned subsidiary of Qiddiya which in turn remains wholly owned by PIF. SEVEN will remain part of the PIF ecosystem and will continue to deliver on its mandate to develop 21 entertainment projects in 14 cities across Saudi Arabia.
PIF’s transfer of ownership of Saudi Entertainment Ventures (SEVEN) to Qiddiya Investment Company (QIC) aims to capitalise on business synergies between the two companies, enhance their offerings and support PIF’s wider strategy for the entertainment, leisure and sport sector.
This transfer brings together two like-minded organizations with a shared mission of bringing play and joy to life, bolstering local talent and capabilities and enhancing the quality of life for people across the Kingdom.
It forms a key part of PIF’s wider strategy for the entertainment, leisure, and sports sector to and will support Saudi Arabia’s national tourism strategy. It will also contribute to Vision 2030’s ambitions for a vibrant society, a thriving economy, and an ambitious nation.
