The Public Funding Fund (PIF) of Saudi Arabia has introduced plans for the Rig, a brand new tourism undertaking.
Impressed by offshore oil platforms, the event shall 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 in every of key strategic sectors recognized by the PIF, and is anticipated to be a big value-add to the native financial system.
Moreover, to make sure the sustainable preservation of the setting within the neighborhood, the undertaking will observe main international requirements and greatest practices, additional supporting broader efforts on environmental safety.
This undertaking is a singular tourism attraction, anticipated to draw vacationers from all over the world, whereas being particularly fashionable with residents and residents of the GCC nations within the area.
The Rig will characteristic a lot of touristic sights, together with three lodges, world-class eating places, helipads, and a spread of adventurous actions, together with excessive sports activities.
To help Saudi Arabia’s efforts to turn out to be a number one international vacationer vacation spot, PIF has established a number of main tasks and corporations in numerous areas inside the nation, together with the Pink Sea Growth Firm, Alsoudah Growth Firm and the Cruise Saudi Firm.
Public Funding Fund
PIF is among the largest sovereign wealth funds on the earth, searching for to drive the financial transformation of Saudi Arabia for the good thing about its individuals whereas serving to form the longer term international financial system.
The organisation is constructing a portfolio by way of investments in engaging, long-term alternatives throughout various industries and asset lessons internationally, whereas unlocking new sectors at house.
These embody the current acquisition of Premier League soccer membership, Newcastle United.
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