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Monday, 7 May 2018

Saudi sovereign fund plans entertainment centers across kingdom | Reuters

Saudi sovereign fund plans entertainment centers across kingdom | Reuters:

"Saudi Arabia’s main sovereign wealth fund will set up a network of entertainment centers across the kingdom as the government tries to jump-start a domestic leisure industry, the chairman of the company carrying out the plan said on Sunday. Abdullah al-Dawood, chairman of Development and Investment Entertainment Company (DIEC), said his firm envisaged about 20 centers, each around 50,000 to 100,000 sq metres (540,000 to 1.1 million sq feet), in 14 or 15 cities. DIEC, established in January by the Public Investment Fund, will invite private companies to invest alongside it on a commercial basis, aiming to set the centers up over the next several years, Dawood said."



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