Saudi Arabia unveils plans for the Rig tourism project

The Public Investment Fund (PIF) of Saudi Arabia has introduced plans for the Rig, a brand new tourism undertaking.

Inspired by offshore oil platforms, the event can be situated within the Arabian Gulf and can span a mixed complete space of greater than 150,000 sq. meters.

When full it would present a mess of hospitality choices, adventures and aquatic sporting experiences.

The Rig is a undertaking within the tourism and leisure sector, one among key strategic sectors recognized by the PIF, and is anticipated to be a big value-add to the native financial system.

Additionally, to make sure the sustainable preservation of the surroundings within the neighborhood, the undertaking will comply with main international requirements and greatest practices, additional supporting broader efforts on environmental safety.

This undertaking is a novel tourism attraction, anticipated to draw vacationers from world wide, whereas being particularly well-liked with residents and residents of the GCC international locations within the area.

The Rig will function various touristic sights, together with three resorts, world-class eating places, helipads, and a spread of adventurous actions, together with excessive sports activities.

To assist Saudi Arabia’s efforts to turn into a number one international vacationer vacation spot, PIF has established a number of main initiatives and firms in numerous areas throughout the nation, together with the Red Sea Development Company, Alsoudah Development Company and the Cruise Saudi Company.

Public Investment Fund

PIF is without doubt one of the largest sovereign wealth funds on the planet, looking for to drive the financial transformation of Saudi Arabia for the advantage of its individuals whereas serving to form the longer term international financial system.

The organisation is constructing a portfolio via investments in enticing, long-term alternatives throughout various industries and asset courses internationally, whereas unlocking new sectors at house.

These embrace the latest acquisition of Premier League soccer membership, Newcastle United.

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