Saudi Arabia launches world-first offshore platform tourism project

Reuters
Reuters

Cairo - Project spans an area of more than 150,000 square metres



By Reuters

Published: Sun 17 Oct 2021, 10:31 AM

Saudi Arabia's sovereign wealth fund, the Public Investment Fund, announced on Saturday the launch of "THE RIG", which it said would be the world's first tourism destination on offshore platforms.

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The fund, the engine of Crown Prince Mohammed bin Salman's economic transformation plans for Saudi Arabia, manages a portfolio worth $400 billion.

It added in a statement that the project was located in the gulf and spanned an area of more than 150,000 square metres.

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It said the project would feature a number of attractions, including three hotels, restaurants, helipads, and a range of adventurous activities including extreme sports.

The funds did not disclose the value of the project.


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