Saudi Binladin Group has been awarded contracts worth around SR5bn ($1.3bn) from Saudi Entertainment Ventures (Seven), a wholly-owned subsidiary of Saudi Arabia’s Public Investment Fund (PIF).
The contracts are to build Seven’s two entertainment destinations in the Dammam and Alkhobar regions in Saudi’s eastern province.
The entertainment complex in Alkhobar, known as “The Waves”, spans around 300,000sq.m and will be built on reclaimed land on the waterfront.
The Dammam entertainment complex spans 360,000sq.m and will also be built on reclaimed waterfront land.
So far this year, Seven has awarded contracts worth approximately SR8.5bn for the development of its entertainment destinations across the kingdom.
Seven is investing more than SR50bn ($13bn) to build 21 entertainment destinations across the country.
