Saudi Arabia’s investment fund, the Public Investment Fund (PIF), has launched “THE RIG”, which it says is the world’s leading tourist destination on offshore platforms.

The fund is part of Crown Prince Mohammed bin Salman’s economic transformation plans for Saudi Arabia and manages a portfolio worth a massive $ 400 billion.

PIF said “THE RIG”, inspired by offshore oil rigs, will be located in the Persian Gulf and will cover a combined total area of ​​over 1.6 million square feet and provide a host of hospitality offerings. , adventures and aquatic sports experiences. .

“THE RIG” is a project in the tourism and entertainment sector, one of the key strategic sectors of the PIF, and is expected to bring significant added value to the local economy.

In addition, to ensure the sustainable preservation of the environment in the vicinity of the project, the project will follow leading global standards and best practices, further supporting Saudi Arabia’s environmental protection efforts.

The PIF added that the project would be a unique tourist attraction, which is expected to attract tourists from all over the world, while being particularly popular with citizens and residents of the Gulf Cooperation Council – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia. and United States. United Arab Emirates.

“THE RIG” will include three hotels, world-class restaurants, helipads and a range of adventure activities, including extreme sports.

The project is also part of the 2021-2025 strategy of the PIF to stimulate innovation in the tourism and entertainment sectors in Saudi Arabia, offering promising development opportunities to achieve economic diversification in line with the goals of Saudi Vision 2030.

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