Saudi Entertainment Ventures (SEVEN), a wholly-owned subsidiary of the Public Investment Fund (PIF), has awarded the contract to the joint venture (JV) between Al Bawani Co. and UCC Saudi to build the new entertainment destination in Yanbu.

Construction is already underway on the over 1.1 billion Saudi riyal ($293.25 million) entertainment destination on Al Nawras Island, Yanbu, SEVEN said in a statement on Tuesday.

The value of the contract was not given.

SEVEN Yanbu is designed by Gensler, a global architecture, design, and planning firm.

SEVEN is investing more than SAR50 billion to build 21 entertainment destinations.

The company recently announced the beginning of construction of its entertainment destinations in the Al Hamra district of Riyadh and Tabuk.

The 14 upcoming projects are located in Riyadh, Kharj, Makkah, Jeddah, Taif, Dammam, Khobar, Al Ahsa, Madinah, Yanbu, Abha, Jazan, Buraidah, and Tabuk.

(Writing by D Madhura; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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