Urbacon Saudi and Al Bawani Co. Ltd (JV) announce the commencement of construction works to build the new entertainment destination in Yanbu, which was awarded by Saudi Entertainment Ventures (SEVEN), a wholly-owned subsidiary of the Public Investment Fund with estimated investment value of SAR 1.1 billion.
Ramez Al-Khayyat, the President of UCC Holding stated: “We are delighted to spread joy in Yanbu through our partnership with 'SEVEN'. We will leverage our extensive experience in building entertainment destinations to deliver the project on time, to the highest international standards.”
From his side Fakher Al Shawaf, Chairman and Group CEO, Al Bawani Co. Ltd, commented: “We are excited to partner with SEVEN to deliver this project. The design has taken into consideration Yanbu's coastal location and its history as one of the oldest ports in Saudi. SEVEN’s investment will support Yanbu’s growing population to meet its entertainment needs.”
It is worth noting that the new entertainment destination in Yonbu is located along the seafront promenade on Al Nawras Island and spread over a land area of more than 36,000 square meters, with a built-up area of 62,000 square meters. The new destination has been designed to play a pivotal role in the city’s local entertainment sector, as it will offer guests a wide variety of experiences designed to engage all age groups from within the local community of Yanbu and the surrounding areas.