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The project is being developed by PIF-owned SEVEN Nearly 60 percent of Al-Hamra entertainment district, one of the largest such projects in the region, has been completed and it will be ready shortly, a top official of the project owner said. Seven Entertainment Ventures (SEVEN) is implementing the project in the Saudi capital Riyadh at a cost of nearly 3.6 billion Saudi riyals ($1 billion), Seven’s CEO for projects, Abdul Ilah Al-Fowzan said. SEVEN is owned by the Public Investment Fund (PIF). “Nearly 60 percent of the project has been completed....we will soon announce the commissioning of the project,” he told the Saudi daily Aleqtisadiah. Al-Fowzan said the project has an area of around 167,000 square metres (sqm) and will be able to receive millions of visitors per year. He told the daily that SEVEN has an investment portfolio of more than SAR50 billion ($13.4 billion) in the Kingdom. Al Hamra includes a mix of entertainment, food and beverage, and retail, public plazas, green spaces, and various activities and attractions. Construction work on the project started in the fourth quarter of 2022, according to previous media reports. |
