Riyadh — The Saudi Public Investment Fund (PIF) announced a new tourism project, THE RIG, on Saturday. Inspired by offshore oil platforms, the project will be located in the Arabian Gulf with a 150,000 sq.m. area. It will be providing multiple hospitality, aquatic sport, and adventure experiences.
“THE RIG.” is a tourism and entertainment sector project. A key sector in PIF’s strategy, and is expected to add meaningful value to the local economy.
To ensure the sustainable preservation of the environment in the project’s vicinity. The project will follow leading global standards and best practices further supporting the Kingdom’s broader efforts on environmental protection.
This project’s unique tourism attractions are expected to attract tourists worldwide while being especially popular with citizens and residents of the GCC countries.
“THE RIG.” will feature several tourist attractions, including hotels, world-class restaurants, helipads, a range of adventure activities, and extreme sports.
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“THE RIG.” is in line with PIF’s 2021-2025 drive to innovate the Saudi tourism and entertainment sectors. Providing promising development opportunities to achieve economic diversification as envisioned in the Saudi Vision 2030 objectives.
To support Saudi Arabia’s efforts to become a leading global tourist destination. PIF has established several major projects. Companies, including the Red Sea Development Company, Alsoudah Development Company, and the Cruise Saudi Company.
