Dammam, March 03, 2024, In a significant move towards enhancing tourism and entertainment offerings, an agreement was signed in Dammam between the Principality of the Eastern Region and THE RIG, a subsidiary of the Public Investment Fund (PIF), for the development of the THERIG project. Witnessed by the Governor of the Eastern Region, Prince Saud bin Naif bin Abdulaziz, the project aims to activate and invest in marine activities while creating distinctive tourism and entertainment destinations.
The comprehensive investment agreement encompasses the construction, development, operation, and maintenance of a tourist and visitor station, a marina for yachts and seaplanes, helipads, and various supporting activities. What sets this project apart globally is its inspiration from offshore oil platforms in the Arabian Gulf, making it the world's first tourist destination of its kind. The project will include an offshore platform in the Arabian Gulf near Al Juraid Island, as well as stations on Dammam Corniche, the Cultural Center, and Jubail Corniche.
The multifaceted project will feature hotels, amusement parks, water sports, various adventures, and facilities to serve visitors and tourists, including helipads, a seaplane marina, and yachts. The offshore platform will house three hotels and eleven restaurants. This initiative is anticipated to be a groundbreaking development in entertainment, tourism, marine activities, and transportation, contributing to elevating the quality of life, aligning with the goals of Saudi Vision 2030, and fostering economic diversification.
The Eastern Region has been attracting substantial investment capital, ranking first in attracting foreign investment. This new project follows the previous launch of a package of investment projects worth SAR 18 billion by the Governor of the Eastern Region, underlining the region's commitment to economic development and growth.
