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KSA's PIF to establish SAR 10bn recreation unit

KSA's PIF to establish SAR 10bn recreation unit
KSA's PIF to establish recreation’s unit with capital of SAR 10bn

Riyadh – Mubasher: The Public Investment Fund (PIF) of Saudi Arabia on Wednesday announced its plans to establish a subsidiary specialised in the recreation sector with a capital of SAR 10 billion, according to the Saudi Press Agency (SPA).

The PIF’s unit is expected to provide services for more than 50 million visitors annually, provide more than 22,000 job vacancies, and contributes in the total amount of gross domestic product (GDP) by SAR 8 billion by the end of 2030.

The Saudi body’s subsidiary plans to establish the first complex of recreation by 2019.