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72 Projects in 10 Years to Expand Saudi Entertainment Sector

72 Projects in 10 Years to Expand Saudi Entertainment Sector
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72 Projects in 10 Years to Expand Saudi Entertainment Sector

72 Projects in 10 Years to Expand Saudi Entertainment Sector

Saudi Arabia is expected to witness the development of about 72 entertainment projects aimed at improving the quality of life which will support the GDP with about $2.1 billion annually.

Many companies are working in the promising entertainment sector and several international companies have entered the Saudi market through various mega projects such as Qiddiya.

The Saudi Contractors Authority launched the Future Projects Forum 2020 with the participation of 35 government and private bodies to present over 850 projects with a total value of more than $160 billion and the participation of nearly 2,000 contractors.

Meanwhile, the Saudi Entertainment Ventures (SEVEN), investment arm of the Public Investment Fund (PIF), announced it was developing new entertainment complexes in vital locations throughout the Kingdom.

SEVEN announced the complexes to keep pace with the rapid growth of the tourism sector, in addition to its role in achieving the goals of the Vision 2030.

The complexes are being developed in strategic locations to provide large numbers of residents with innovative entertainment options suitable for all family members. Each complex will have many facilities, such as cinemas, gaming centers, restaurants, cafes, and more.

The new entertainment system will include 20 entertainment complexes and two entertainment cities, with an estimated area of 100,000-200,000 square meters, and 50 cinemas in all Saudi regions and cities which will be completed by 2030.

SEVEN Chairman Abdullah al-Dawood said that they are working on building an integrated system for the entertainment sector and that the company follows an accurate development structure, stressing the importance of opportunities that support the private sector to keep pace with the development of the entertainment scene in the Kingdom.

Dawood asserted that SEVEN is committed to achieving the goals of Vision 2030 by accelerating the development of world-class leisure destinations in support of plans to diversify national economic resources and provide productive career opportunities.

“Our complexes will turn the Kingdom into an entertainment, cultural and tourism hub in the region.”

SEVEN also developed plans to build two huge entertainment cities in Jeddah and the Eastern Province, in partnership with global operators. The locations of the cities have already been chosen.

The 20 entertainment complexes include various facilities, centers and activities, such as specialized recreational areas, cinemas, stores and restaurants.

They will be distributed in various Saudi regions and cities such as Riyadh, Jeddah, Dammam, Khobar, Makkah, Madinah, Jazan, Tabuk, Abha, Yanbu, and Taif.

In addition, there will be 50 new movie theaters in entertainment complexes and other major locations throughout the Kingdom, affiliated with American Multi-Cinema (AMC).

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.