Saudi Entertainment Ventures (SEVEN), a wholly-owned subsidiary of the Public Investment Fund (PIF), has inked an agreement with Al-Oula Real Estate Development Co. to expand network of AMC cinemas in the Kingdom, Saudi Press Agency (SPA) has reported.
“The agreement came within SEVEN’s strategic plans to provide the Saudi community with the best entertainment options,” according to a company statement.
Capitalized at SAR 10 billion, SEVEN is expected to provide more than 22,000 job opportunities in the Kingdom by 2030 and will likely boost the gross domestic product (GDP) by around SAR 8 billion.
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