Riyadh: Saudi Arabia’s Public Investment Fund (PIF) on Saturday announced the launch of “THE RIG”, a new tourism project inspired by offshore oil platforms.
THE RIG will be located in the Arabian Gulf and will span a combined total area of more than 150,000 square meters. It provides a multitude of hospitality offerings, adventures, and aquatic sporting experiences.
A promotional video showed images of theme park water slides constructed onto the former drilling platform and a steel-and-glass hotel atrium at the centre of the attraction.
The venue will have berths for 50 yachts along with “three hotels, world-class restaurants, helipads and a range of adventurous activities, including extreme sports”.
The Public Investment Fund did not disclose the location of the excavator. Several oil platforms are clustered in Saudi Arabia off the eastern coast of Dammam.
A statement from the PIF said: “This project is a unique tourism attraction, expected to attract individuals from around the world while being especially popular with citizens and residents of the GCC countries in the region.
“The Rig is in line with 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.”
The Public Investment Fund of Saudi Arabia is one of the largest sovereign wealth funds in the world. It has a world-class investment portfolio with a focus on opportunistic long-term investments, both locally and internationally.