The Cultural Development Fund (CDF) hosted the “Film Future Reception” during the fifth edition of the Red Sea International Film Festival.
The event brought together entrepreneurs, investors, and leading filmmakers from the Kingdom and around the world to highlight financial solutions and investment opportunities that support the growth of the sector and its cinematic productions.
During the gathering, CDF signed credit facility agreements under the Cultural Financing Program, totaling more than SAR60 million, to finance six major projects in the film sector. These projects target several areas, including feature film production and infrastructure development supporting the industry, SPA reported.
The gathering was organized in collaboration with the Red Sea International Film Festival and BSF Capital. During the event, the fund reviewed future investment trends in the film sector and the funds in which it serves as a principal investor, including the Riviera Content Fund— the first of its kind in the Kingdom— in addition to a second investment fund in the film sector, whose establishment agreement was signed last September and is managed by BSF Capital. Each of these funds has a capital size of SAR375 million.