Saudi Arabia’s PIF announces new tourism project on offshore platforms

The project was inspired by offshore oil platforms and will be located in the Arabian Gulf

‘The Rig’ has been announced by Saudi Arabia’s Public Investment Fund (PIF). The project is billed as the world’s first tourism destination on offshore platforms and will span 150,000sqm, providing several hospitality offerings, adventures, and aquatic sporting experiences.

The Rig is a project in the tourism and entertainment sector, one of PIF’s key strategic sectors, and is expected to be a significant value-add to the local economy, said a statement.

Additionally, to ensure the sustainable preservation of the environment in the project’s vicinity in the Arabian Gulf, it will follow leading global standards and best practices, further supporting the Kingdom’s broader efforts on environmental protection. This project is a unique tourism attraction, expected to attract tourists from around the world, while being especially popular with citizens and residents of the GCC countries in the region, the statement added.

The project is expected to feature several tourist attractions including three hotels, world-class restaurants, helipads, and a range of adventurous activities including extreme sports. The project is said to align 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.

To support Saudi Arabia’s efforts to become a leading global tourist destination, PIF has established several major projects and companies in various regions within the country including the Red Sea Development Company, Alsoudah Development Company and the Cruise Saudi Company, the statement concluded.

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