Logo of The Public Investment Fund (PIF)
The Public Investment Fund (PIF) launched “THE RIG”, a new tourism project inspired by offshore oil platforms.
The project will be located in the Arabian Gulf and will span over 150,000 square meters (sqm). It will provide a multitude of hospitality offerings, adventures, and aquatic sporting experiences.
THE RIG will be a qualitative addition to the tourism and entertainment sector, which is one of PIF’s key strategic sectors. It is expected to be a significant added value to the local economy.
This project, which is a unique tourism attraction, will likely attract tourists from around the world.
THE RIG will feature a number of touristic attractions, including three hotels, world-class restaurants, helipads, and a range of adventurous activities, including extreme sports.
The project comes in line with PIF’s strategy 2021-2025, to drive innovation in Saudi Arabia’s tourism and entertainment sectors. It will provide promising development opportunities to achieve economic diversification in line with the Saudi Vision 2030 objectives.
To support the Kingdom’s efforts to become a leading global tourist destination, PIF developed several major projects and companies in various regions within the country, including the Red Sea Development Co., Alsoudah Development Co. and the Cruise Saudi Co.
The project consists of a marina that can accommodate 50 boats, as well as 800 hotel rooms, more than 150,000 sqm of adventure in the middle of the sea, and 11 restaurants.
#PIF announces “THE RIG.” Project.
The world’s first tourism destination inspired by offshore oil platforms.
— Public Investment Fund (@PIF_en) October 16, 2021