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PIF's SEVEN Extends Madinah Complex Deadline To July 27

PARIS, France - Saudi Entertainment Ventures Co., also known as SEVEN, has further extended the deadline to submit commercial bids for its planned entertainment complex in Madinah to July 27.

Located in the south of Madinah, close to a new residential development and King Fahd Central Park, the project's site spans 77,000 square meters.

The complex is expected to feature retail and food outlets, ares for educations and entertainment attraction and also cinemas, go - karting, bowling facilities and spaces dedicated to wellness.

The firm - a wholly owned subsidiary of the Public Investment Fund - originally wanted bids in by April 24, before extending it to May 24 and then June 14.

Technical submissions were completed in March, MEED reported.

SEVEN was formed in December 2017 as part of Riyadh's push to localize Saudi spending on entertainment under the Vision 2030 mandate.

The company plans to develop over 20 entertainment complexes, 50 cinemas and two theme parks in the kingdom, MEED said.

SEVEN'S pipeline includes projects in Dammam, Jeddah, Makkah, Obhur and Riyadh at various tendering stages, and is expecting to receive bids by June 29 for its planned entertainment complex in Abha, which will have a built - up area of over 70,000 square meters.


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