The Public Investment Fund today announced the launch of the new “THE RIG” project in the tourism sector, which will be built on platforms that derive their concept from offshore oil platforms.
The project is located in the Arabian Gulf region and spans an area of more than 150,000 square meters, combining diverse options for hospitality, accommodation, adventure and marine sports experiences.
The “THE RIG” project is the Fund’s latest project in the tourism and entertainment sectors, which are among the key sectors that the Fund focuses on, and which will have a positive impact on the local economy.
It aims to preserve the environment of the area where it will be built by following the best global standards and practices, in support of the Kingdom’s efforts to preserve the environment.
The project will be a valuable addition to attractive tourism projects, and is expected to attract many tourists from around the world, especially citizens and residents of the Gulf Arab states, to experience an exceptional tourism experience.
It offers a wide range of tourist options including three hotels, a collection of international restaurants, helipads, and many diverse activities and adventurous sports.
The launch of the “THE RIG.” project comes in line with the Public Investment Fund’s 2021-2025 strategy aimed at enabling innovation in the tourism and entertainment sectors within the Kingdom, which is full of promising development opportunities that achieve economic diversification within the goals of the Kingdom’s Vision 2030.
The fund has worked to establish and support many projects and companies in various regions with the aim of enhancing the Kingdom’s efforts to become a leading tourist destination on the global tourism map, such as the Red Sea Development Company, Al Soudah Development Company, and Saudi Cruise Company.
