The Rig, a tourist destination sprawling over 150,000 square metres, inspired by offshore oil platforms, will soon open in the Arabian Gulf backed by the Public Investment Fund (PIF), Saudia Arabia’s sovereign wealth fund.
Three hotels, world-class restaurants, helipads, and a range of adventure activities including extreme sports will be some of the tourist attractions of the Rig. These are expected to bring tourists from all over the world, especially from the GCC countries in the region, said the PIF in a press statement released on October 16.
The project, a key strategic sector of the PIF, will add substantial value to the local economy. It will also follow leading global standards and best practices to sustain and preserve the environment in the vicinity, said the PIF.
PIF has defined a strategy for 2021 to 2025 to drive innovation to support Saudi Arabia’s tourist ambitions. It has several companies doing various projects within the country, including the Red Sea Development Company, Alsoudah Development Company, and the Cruise Saudi Company.