Eastern Region Principality And THE RIG Ink Deal For Groundbreaking Tourism Project

Dammam, March 03, 2024 - In a significant move towards enhancing the tourism and entertainment landscape of Saudi Arabia, the Eastern Region's Governor, Prince Saud bin Naif bin Abdulaziz, oversaw the formalization of a pivotal agreement on Sunday. This accord, established between the Principality of Eastern Region and THE RIG, a subsidiary of the Public Investment Fund (PIF), sets the stage for the development of the THERIG project. Aimed at revitalizing marine activities and creating unparalleled tourism and entertainment destinations, this initiative marks a notable advancement in the region's economic diversification efforts.

The comprehensive investment agreement encompasses the construction, development, operation, and maintenance of a multifaceted tourist and visitor station. This includes a marina designed for yachts and seaplanes, helipads, and an array of supporting activities tailored to bolster the project's offerings. THERIG project stands out as the world's first tourist destination inspired by offshore oil platforms in the Arabian Gulf, positioning it as a unique global attraction.

Central to this ambitious project is an offshore platform situated in the heart of the Arabian Gulf near Al Juraid Island. This platform is set to host three hotels and eleven restaurants, promising an exceptional hospitality experience. Additionally, the project will feature various amusement parks, water sports facilities, adventure experiences, and stations equipped with visitor-serving facilities. The inclusion of helipads and a marina for seaplanes and yachts further underscores the project's commitment to providing diverse transportation means and enhancing marine activities.

This groundbreaking initiative is anticipated to significantly contribute to achieving the objectives outlined in Saudi Vision 2030 by elevating the quality of life and fostering economic diversification. The Eastern Region has recently emerged as a leading destination for significant investment capital, notably ranking first in attracting foreign investment. This follows closely on the heels of a series of investment projects launched by the Governor of the Eastern Region, valued at SAR18 billion.

The THERIG project not only promises to be a quantum leap in entertainment, tourism, marine activities, and transportation but also aligns with Saudi Arabia's broader goals of enhancing its global tourism appeal and economic resilience. As such, it represents a strategic step forward in realizing the ambitious aspirations of Saudi Vision 2030.

With inputs from SPA