Saudis Launch First Offshore Oil Platform Inspired Tourism Project
Saudi Arabia's wealth fund, the Public Investment Fund (PIF), has launched "THE RIG", which it claimed would be the world's first tourism 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 that the “THE RIG”, inspired by offshore oil platforms, will be located in the Arabian Gulf and will span a combined total area of more than 1.6 million square feet and provide a multitude of hospitality offerings, adventures, and aquatic sporting experiences.
“THE RIG” is a project in the tourism and entertainment sector, one of PIF’s key strategic sectors, and is expected to be a significant value-add to the local economy.
Additionally, 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 Saudi Arabia’s efforts on environmental protection.
The PIF added that the project would be a unique tourism attraction, expected to attract tourists from around the world, while being especially popular with citizens and residents of the Gulf Cooperation Council – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
“THE RIG” will feature three hotels, world-class restaurants, helipads, and a range of adventurous activities, including extreme sports.
The project is also part of PIF’s strategy 2021-2025 to drive innovation in Saudi Arabia’s tourism and entertainment sectors, providing promising development opportunities to achieve economic diversification in line with the Saudi Vision 2030 objectives.
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