Attractions Management news SAUDI ARABIA
Saudi Arabia offers US$133m in loans to create 50 attractions which will see them financing
Entertainment Authority
“noteworthy attractions and
(GEA) has pledged to provide
entertainment activities”
SAR500m (US$133m,
that meet applicable
€112m, £96m) worth
rules and regulations, as
of loans to companies,
well as devising credit
in order to create new
mechanisms, agreements,
attractions and entertainment
and performance standards.
projects in the country. GEA has signed
GEA will refer eligible companies to the SDB to
a memorandum of
apply for the funding. Funding
understanding with
will be provided through
the country’s Social
SDB’s Ufuq programme
Development Bank (SDB),
and will support companies
which will see soft financing
through both monetary and
opportunities being made
non-monetary solutions.
available to investments
The loans fit in with
that contribute towards the
the overall objectives
growth and sustainability
of Saudi Arabia’s Vision
of the Saudi attractions.
2030, which maps the
The MoU outlines the
Entertainment is a key element of Saudi Arabia’s Vision 2030
photo: SHutterstock/alsanqer abdullah H
Saudi Arabia’s General
country’s plans to become
collaboration approach
an ‘industrial powerhouse’.
between the two entities,
More: http://lei.sr/r4G7d_T
The loans fit in with the objectives of Saudi Arabia’s Vision 2030, which maps out the country’s plans to become an ‘industrial powerhouse’
worldwide
Andy Grant and Panorama Group join forces Andy Grant have joined photo: Andy Grant
forces to create a new company providing global resort and entertainment development services. Focusing on the creation of all-in-one tourism
Grant Leisure’s projects include The London Eye
destinations, the new entity
Our experience fills the entertainment needs for Panorama’s resort development Andy Grant
20
– called Grant Leisure Inc
planning and construction of
worked with. Our experience
(Texas) – will aim to offer “in-
hotels, resorts, entertainment
fills the entertainment
depth and complete services”
centres and casinos.
needs for Panorama’s resort
across every segment of the leisure destination sector. Through the partnership, Grant Leisure will be able to provide project management
Support services will
development. We’ve worked
include market studies,
all over the world and now 150
land planning, architecture
million people a year visit the
and engineering.
attractions we helped create.”
Andy Grant said: “In our
Panorama Group
on a broader scale – from
experience of 40 years in the
specialises in resort, hotel and
financing and development
business, Panorama Group
residential developments.
of destinations, as well as
is the best firm we have ever
More: http://lei.sr/w6Z5b_T
attractionsmanagement.com ISSUE 3 2021
photo: Shutterstock/Lukasz Pajor
Panorama Group and
