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Arabian Business
a day ago
- Business
- Arabian Business
EXCLUSIVE: Inside SEVEN's $13.3bn Saudi entertainment push as global expansion ruled out
As Saudi Arabia continues its transformation under Vision 2030, Saudi Entertainment Ventures (SEVEN) stands at the forefront of the Kingdom's entertainment landscape, leading the development of 14 entertainment complexes featuring more than 150 attractions that will rival the world's best entertainment destinations. In an exclusive interview with Arabian Business, Damien Latham, Chief Attractions Officer at SEVEN revealed that despite the scale and ambition of the project, the focus remains firmly within Saudi borders, with no plans for international expansion as the company focuses on delivering what he calls 'world-class entertainment on the doorstep' of Saudi citizens. 'Not currently,' he stated definitively when asked about global expansion plans. 'Our focus is on the SAR 50 billion that we've been entrusted with and delivering that to the best of our abilities. There's nothing in our strategy that sees us go outside of the KSA region.' The focus on the domestic market comes as SEVEN prepares to launch its first entertainment complexes by the end of 2025 and early 2026. The PIF-backed entity is developing attractions across 13 cities in 14 complexes, featuring more than 150 individual attractions – from ski slopes to innovative bowling centres with facial recognition technology. The local-first philosophy Latham, who brings three decades of entertainment industry experience to his role, explained that SEVEN's mandate is deliberately centered on local tourism and local interests. 'Whilst external tourism is good for us, it's more about making sure our local guests are exceeding their expectations,' he emphasised. This philosophy extends beyond mere market focus to the design of the attractions, the company has developed what Latham describes as a careful balancing act between global appeal and local relevance. For instance, a restaurant concept in Jeddah featuring a surfable wave in its center – originally conceived with Hawaiian influences but localised using the rich colours and patterns found in Old Town Jeddah's centuries-old architecture. 'We started to dissect some of these really lovely architectural things that people are so proud of, that would strike a chord when they walked into the restaurant and saw those local patterns and colours infused into this surf destination,' Latham explained. However, not every attraction can be localised. 'With our Transformers IP, which is set on another planet – Cybertron and Riyadh, not really, I can't see any crossover there,' he admits with a laugh. 'So we decided that in this instance, it will just be Cybertron.' SEVEN has invested heavily in integrating technology to create unique experiences that don't exist elsewhere. Their bowling is an example of this philosophy – featuring giant bowling pins that guests can enter, where cameras scan faces to create personalised avatars that accompany players onto the lanes. 'When you hit a strike or hit the gutter, your avatar will do a funny dance or give you a thumbs down,' Latham described enthusiastically. 'It's infusing a bit of simple technology into an old attraction. Let's face it, ten-pin bowling has been around 100 years. That makes it a bit different, a bit more fun, a bit more tech-savvy.' The company has also developed futuristic karting experiences where racers speed through dystopian representations of Riyadh's skyline, complete with flying cars navigating around architectural icons like the Kingdom Tower. Strategic partnerships and homegrown IP While SEVEN creates approximately 70 per cent of its attractions as proprietary IP, the remaining 30 per cent comes through carefully selected partnerships with global brands. These collaborations are not chosen lightly – each partnership must meet specific criteria around innovation, longevity, and alignment with local preferences. 'We looked at how partnerships could come together in a much more meaningful way beyond the obvious commercial side,' Latham explained. The company has partnered with Formula E, leveraging the electric racing series' focus on young drivers and technological innovation. Similarly, partnerships with Mattel (Hot Wheels) and Transformers provide access to brands with multi-generational appeal. 'These are iconic brands that will stand the test of time. They're not going to be here today, gone tomorrow,' Latham said. 'They instantly resonate, and that helps because we believe the brands we've created will go even deeper into the entertainment preferences of our guests because they're rooted in Saudi Arabia.' Construction challenges and upcoming launches The path to launching hasn't been without obstacles. Latham acknowledged that constructing entertainment facilities presents unique challenges compared to traditional building projects. 'It's not like we're building office blocks or something a bit more easy,' he said. 'Constructing a ski slope – it's not easy.' Despite these challenges, SEVEN is pushing toward its launch targets. The company recently showcased progress to Public Investment Fund executives and the Crown Prince, with Chairman Abdullah Aldawood,leading tours of nearly completed facilities. Complexes in Tabouk, Abha, and Yanbu are all set to go live in the coming months. The company is currently in a massive hiring phase, seeking hundreds of employees for each complex to deliver what Latham called 'this great guest experience.' It's a challenging but exciting time, he admitted: 'It's going to be a fun 12 months, but a really tough 12 months.' One of SEVEN's most forward-thinking approaches lies in its construction methodology. Recognising that entertainment preferences evolve rapidly, the company has built flexibility into its facilities from the ground up. 'What we build today might not be relevant in four or five years time,' Latham acknowledged. 'So the box that we build it in needs to be flexible enough that we can flip that attraction to something different.' This adaptability extends to SEVEN's understanding of entertainment trends. Latham uses virtual reality as an example of technology that, while impressive, doesn't always translate to commercial entertainment success due to its individualistic nature. 'When it's put into a commercial entertainment application, it becomes quite an individual-led entertainment experience. So you don't share that with your friends because you're in this virtual world.' The affordability imperative Despite the massive investment and world-class ambitions, SEVEN maintains a strong focus on accessibility. 'Entertainment isn't class-driven,' Latham said. 'It's got to be affordable for people. One thing our board and senior management team have had in their mind is, let's make sure that this really is about families and friends coming together.' This philosophy recognises that true entertainment success comes from creating shared experiences that bring people together, rather than exclusive offerings that segment audiences. The company has carefully structured its portfolio to include attractions at various price points, from weekly-accessible options like bowling and adventure golf to experiences like ski slopes that serve as destination draws. The five-year vision As SEVEN prepares for its launches, Latham's vision for the company's future remains grounded in community building rather than financial metrics alone. 'As long as overall we have hit that mark of a sustainable business and exceeded the expectations of all the people we've surveyed – tens of thousands of people have been asked about their entertainment preferences – I think that's the main driving force.' The company's success will be measured not just in revenue but in repeat visitation and community building. 'If you've created that community, you've created that footfall, and you've hit that expectation, then the rest will just follow naturally,' Latham explained. For international visitors curious about Saudi Arabia's entertainment evolution, Latham predicts a significant shift once launches begin. 'The minute people start witnessing the launches of all these fantastic attractions, there'll be no stopping the external interest.' However, he maintained that SEVEN's primary focus remains on exceeding local expectations rather than attracting international tourism. For SEVEN, great entertainment transcends specific activities or technologies – it's about creating 'shared experiences with your family and friends where you just have this most fantastic, engaging time together that you're talking about for days and weeks afterwards.' 'There is no one silver bullet for entertainment,' Latham reflected. 'You have to be extremely open in your mind to looking at trends and how people enjoy coming together.'
Zawya
2 days ago
- Business
- Zawya
Saudi PIF tops GCC funds on Global SWF assessment
Riyadh: Saudi Public Investment Fund (PIF) led the GCC funds, which manage $5.90 trillion in assets, recording a score of 100% this year, according to Global SWF's governance, sustainability, and resilience (GSR) report. The fund, which was followed closely by Oman's OIA and Abu Dhabi's Mubadala, maintained its leadership in the Middle East for the third consecutive year. The PIF registered an 18% year-on-year (YoY) in assets to SAR 4.32 trillion ($1.15 trillion) during 2024, while the revenues hiked by 25% YoY to SAR 413 billion ($110 billion). This aligns with the fund's commitment to achieving net-zero carbon by 2050, within the framework of the UN Sustainable Development Goals (SDGs). It aims to enhance transparency, resilience, and sustainability. Meanwhile, the PIF contributes to enabling the Saudi sustainability agenda by developing 70% of the Kingdom's renewable energy generation capacity, aiming to increase the share of renewable energy in the total domestic energy mix to 50% by 2030. This anchors the Kingdom's vision of achieving net-zero energy neutrality by 2060 and the PIF's commitment to achieving net-zero energy neutrality by 2050. Through its strategy since 2017, PIF has contributed to the creation of more than 1.1 million direct and indirect job opportunities locally and globally. Earlier in June, the PIF launched its commercial paper (CP) program, which was rated 'P-1' by Moody's and 'F1+' by Fitch. Source: Mubasher
Bloomberg
2 days ago
- Business
- Bloomberg
Saudi Sports Fund SURJ in Talks to Invest in Triathlon Series
SURJ Sports, the investment arm of Saudi Arabia's Public Investment Fund, is in talks to invest in the organizers of the T100 Triathlon World Tour as part of plans to grow the series, according to people familiar with the matter. A deal with the Professional Triathletes Organisation is expected to close in the coming weeks, said the people, who asked not to be identified discussing private information. It's unclear how much SURJ could invest.
Time of India
3 days ago
- Business
- Time of India
3-yr pact inked to advance rural livelihoods in Arunachal
Itanagar: The Arunachal State Rural Livelihoods Mission (ArSRLM) on Tuesday signed a memorandum of understanding (MoU) with Pahle India Foundation (PIF), a New Delhi-based public policy think tank, for a three-year strategic collaboration, in Itanagar, reports Joken Ete. The MoU was signed by ArSRLM CEO and state mission director Sangeeta Yirang and the foundation's executive director Ravi Pokharna. "This partnership aligns with our mission to build a resilient rural economy through knowledge-driven interventions. Collaborating with PIF will enable us to bridge critical capacity gaps and scale sustainable livelihood opportunities," Yirang said. Pokharna said, "We are excited to contribute to this important mission by applying research insights." Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
The Guardian
3 days ago
- Sport
- The Guardian
The trouble with underdog stories at the Club World Cup
What a beautiful tale … right? The full-time whistle brought those scenes we know well from the real World Cup. Players on their knees: the victors turning to the heavens, the losers sucked into the dirt. Simone Inzaghi looked a particularly happy chap just weeks on from his nadir, that Bigger Cup embarrassment with Inter against PSG. Manchester City, the European heavyweights, had just been defeated by his brave underdogs, Al-Hilal. Yes, those same longshots who two years ago tried to buy Kylian Mbappé from PSG for £259m, shortly after coming under the ownership of Saudi Arabia's Public Investment Fund. The PIF – which appears intent on clawing its mitts over sport – is the investment arm of a journalist-killing state and chaired by the big man himself, Mohammed bin Salman. The fund is also an official partner of Copa Gianni while a PIF subsidiary bought a $1bn stake in Dazn, the tournament broadcaster, earlier this year. They didn't get Mbappé but they still nabbed Neymar. Al-Hilal may have delivered a sporting upset – 'We knew we had to climb Mount Everest without oxygen and we were great,' proclaimed Inzaghi – but this isn't a plucky underdog story. And no, that doesn't make City a group of saints. It's finally summer time for Pep Guardiola, though a nagging feeling will follow, the question left to be answered on how these few weeks in the USA USA USA will impact his side next season/this season (the lines feel blurred with this tournament). Prior to the Al-Hilal match he had wondered out loud if his club will be 'destroyed' by the Copa Gianni when their regular commitments resume. An extra couple of weeks on the beach – the final is still another 12 days away – could end up being a decent consolation. Plenty of powerhouses remain, though they remain stuck on one side of the draw; PSG have Bayern in the quarters, with the winner potentially facing Real Madrid in the semi-finals. Chelsea supporters should perhaps allow themselves to believe; they must beat Palmeiras if they want to set up a possible semi-final clash with Al-Hilal. The gaudy wastefulness of a project that has turned Brighton into a de-facto academy against the pillar of a behemoth propaganda machine. Let the beautiful game commence. Join Beau Dure from 8pm BST for very hot MBM coverage of Real Madrid 3-1 Juventus in the last 16 of Copa Gianni. The incongruity of the situation escapes no one – except, of course, Gianni Infantino and his flatterers. From his ivory tower, which he tours around the world, the president shows no concern for the fate the international calendar reserves for top players. His [Copa Gianni] proves, to the point of absurdity, that it is urgent to stop this game of massacre' – France's professional footballers' union (UNFP) hits out at the Fifa overlord amid growing concern over fixture congestion and player welfare, including that from Fifpro, which has called on half-time breaks being extended to 20 minutes in extreme heat. If a tree falls in a forest, and no one is around, does it make a sound? If a football team loses in a competition, and no one is watching, is it a shock?' – Darren Leathley. From yesterday's full email edition, many thanks for sharing with us the tale of Dorking's Marc White and his dire attempt to recreate the Wheeltappers and Shunters Social Club (kids, ask your nan why that was even a thing). Can I just point out that due to the consequent ban, your caption on that photo of the guy clearly standing on a touchline shouldn't be 'he'll be here all week'. That's the one place he won't be for a bit' – Jon Millard. Re: this news story. 'Footage of three-a-side game shows humanoids struggling to kick the ball or stay upright.' The best Football Daily headline opportunity ever provided by Big Website! I don't know where to begin' – Nigel Sanders. Re: yesterday's Memory Lane (full email edition). It's a shame we can't see the car in front of Charlie George's 'fancy motor'. I'd love to see him manoeuvre out of what looks like a very tight spot. Maybe friend of the newsletter Max Rushden could give him some tips' – David Bell. Please send your letters to Today's winner of our letter o' the day competition is … David Bell, who gets some Football Weekly merch. We'll be in touch. Terms and conditions for our competitions, when we run them, can be viewed here. Get Euro 2025-ready with this lovely David Squires-infused wallchart. Complete the sequence: Rob Edwards, Ian Burchnall, Duncan Ferguson, David Horseman, Troy Deeney, Steve Cotterill … xxxx? The answer, of course, is Robbie Savage, who has just been appointed as the latest permanent manager of Forest Green Rovers. The National League side missed out on promotion back to the EFL last season and have poached the former Wales international from Macclesfield FC, who won the Northern Premier League under Savage, collecting 109 points and scoring 109 goals on the way to promotion to National League North. 'I feel I have an opportunity to develop a squad to create an attacking brand of football – an aggressive form of football to try and get Forest Green back into the EFL,' roared Savage, who will compete against compatriot Mark Hughes and his Carlisle United side in the fifth tier at the New Lawn. 'I want a fast, exciting style but the most important thing is to win games.' Fluminense are through to the Copa Gianni quarter-finals after dumping out Inter 2-0, courtesy of Germán Cano's early goal and a mighty strike from Hércules. 'I was thinking about Milan,' declared Thiago Silva, who used to play for the Rossoneri. 'I'm sure [their] fans will be happy about Inter's defeat and our victory.' As for the Bigger Cup runners-up, skipper Lautaro Martínez didn't hold back. 'I want to fight for the major titles. Anyone who wants to stay at Inter, fine, let's fight. But anyone who doesn't want to stay can leave,' he sniiffed. England's Beth Mead reckons the Lionesses are well prepared to cope with the heatwave that awaits them in Switzerland after flying out from a heatwave at home. 'We've trained really hard, the intensity has been great and our recovery strategies that we've put in place have been really good so – fingers crossed – it's prepared us as best as we can be for when we get there,' she cheered. Tammy Abrahams is swapping Roma for Beskitas. 'Hello Black Eagles, I'm coming for you. See you at the airport today,' he tooted. Jørgen Strand Larsen's loan at Wolves has become a permanent move from Celta Vigo. Hull City owner Acun Ilicali (six permanent managers and counting since taking over in January 2022) claims that Sky Sports will be following him next season. Asked what his expectations were for latest incumbent, Sergej Jakirovic, he replied: 'Top 10. I believe in myself and my staff. Top 10 and then we will see.' And new Wolfsburg boss Paul Simonis – nicknamed the 'Gouda Guardiola' – says he's a big fan of the real thing after arriving from Go Ahead Eagles. 'I really like … not because he looks like [me] … but I really like Pep Guardiola,' cooed Simonis. 'I was already bald before he was bald. What I like about these guys is how the players talk about them. If you take good care of them, they will pay you back.' Sophie Downey shares her Women's Euros memories in an extract from the latest edition of our sister email. Sophie also picks out six contenders to be top scorer at Euro 2025, while our writers make their wider predictions for what's going to happen. 'What we have, in essence, is the professional athlete reimagined as a kind of plutocratic demigod, able to construct entire new realities around themselves.' It's Jonathan Liew on Cristiano Ronaldo's new Saudi deal. Egyptian creators racked up 14m views on YouTube with Copa Gianni highlights … posted before kick-off. Alexios Mantzarlis has more. Dani Carvajal misses his family. The good news, he tells Sid Lowe, is that in return he's about to become reacquainted with something he has missed as much. Why a search for unpredictability lies behind Chelsea's transfer strategy. By Jacob Steinberg. David Hytner heads to Brentford and hears more about their promotion of Keith Andrews and the ongoing Bryan Mbeumo saga. And the Rumour Mill has scoured the gossip pages so that you don't have to, bringing news of Manchester United's latest purported striker target. It's on the toasty side, both outside and inside Football Daily Towers, so let's all cool down vicariously through Diego Maradona and some ice lollies at a 1983 photoshoot. See, you feel less hot already.
