Saudi Entertainment Ventures Company to Launch First Entertainment Complex in Riyadh

A general view of Riyadh. (SPA)
A general view of Riyadh. (SPA)
TT

Saudi Entertainment Ventures Company to Launch First Entertainment Complex in Riyadh

A general view of Riyadh. (SPA)
A general view of Riyadh. (SPA)

The Saudi Entertainment Ventures Company, a wholly owned subsidiary of the Public Investment Fund, announced Wednesday that Riyadh will witness the launch of its first entertainment destination, reported the Saudi Press Agency.

The first entertainment complex, covering an area of 100,000 square meters, will be located on the Eastern Ring Road at the intersection with King Abdullah Road.

The complex was designed according to latest modern methods and will include a variety of entertainment facilities selected to suit the aspirations of citizens and visitors.

The Chairman of the Board of Directors of Saudi Entertainment Ventures Company, Abdullah bin Nasser Al-Dawoud said that entertainment complex projects will feature open areas equipped for sports activities, entertainment and live shows.

They will include a wide variety of local and international restaurants and cafes, as well as cinemas that are designed to meet international standards.

The Public Investment Fund estimated that the projects will serve more than 50 million visitors a year, provide more than 22,000 direct jobs and contribute 8 billion riyals to the Gross Domestic Product (GDP) by 2030.



Gulf-European Summit Kicks off Wednesday to Discuss Political, Security Issues

Christophe Farnaud, EU Ambassador to Saudi Arabia. (Asharq Al-Awsat)
Christophe Farnaud, EU Ambassador to Saudi Arabia. (Asharq Al-Awsat)
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Gulf-European Summit Kicks off Wednesday to Discuss Political, Security Issues

Christophe Farnaud, EU Ambassador to Saudi Arabia. (Asharq Al-Awsat)
Christophe Farnaud, EU Ambassador to Saudi Arabia. (Asharq Al-Awsat)

Jasem Al-Budaiwi, Secretary General of the Gulf Cooperation Council (GCC), described the Gulf-European Summit as a “historic and significant milestone” in the strategic partnership between GCC states and the European Union. He emphasized that it reflects the commitment of both sides to strengthening their relations amid growing regional and international challenges.

On Monday, Al-Budaiwi noted that the first summit of GCC leaders and EU member state heads will be co-chaired by Sheikh Tamim bin Hamad Al Thani, Emir of Qatar and current president of the GCC, alongside Charles Michel, President of the European Council, in Brussels, on Wednesday.

He added that the event marks the first gathering of heads of state and government since the formal establishment of relations between the two sides in 1989. It will be attended by 33 heads of state and prime ministers.

Al-Budaiwi further explained that the summit will address key political, security, and economic issues, focusing on bolstering security and stability frameworks in the Middle East. It will also discuss regional and international developments, especially the ongoing and severe violations faced by Palestinians in Gaza and other territories by Israeli forces.

Additionally, the meeting will explore ways to increase trade and investment, boost cooperation in energy, and deal with climate change, according to the GCC secretary general.

Meanwhile, the European Union confirmed that it is continuously working to simplify Schengen visa requirements for citizens of GCC countries, noting that a new electronic visa application system will be implemented in the coming years.

Christophe Farnaud, the EU Ambassador to Saudi Arabia, told Asharq Al-Awsat that EU member states are committed to continuing efforts toward visa-free arrangements for all Gulf countries.

According to Farnaud, who also serves as the EU Ambassador to Oman and Bahrain, the EU recognizes the interest of GCC countries in visa-free travel to the Schengen area and is committed to continuing efforts to establish visa-free arrangements for all GCC nations.

The European diplomat also highlighted recent steps taken by the EU to facilitate Schengen visa access for Gulf nationals.

The EU has adopted very encouraging visa rules for GCC citizens, who can now obtain a multi-entry visa valid for five years upon their first request. With a high approval rate for applicants, these new visa rules are practically equivalent to a five-year visa exemption, he added.

He also pointed to a new, modern system that will be operational starting Nov. 10, which will ease travel for international travelers within and outside the Schengen area. This new self-service system will expedite entry and exit processes for visa holders.

The EU and the GCC are aiming to establish a strategic partnership across all sectors, particularly in economic, investment, and trade exchanges. Trade between the two sides has reached 170 billion euros in goods alone, excluding services.