Saudi sovereign wealth fund PIF has announced the establishment of the National Interactive Entertainment Company (QSAS), to develop immersive storytelling experiences, inspired by authentic Saudi heritage and Islamic history.
The company will specialize in developing, owning and operating world-class interactive exhibitions across Saudi Arabia, which will contribute to meeting the growing demand for high-quality cultural experiences for pilgrims, and tourists.
The new entity, QSAS will begin its operations locally with interactive experiences inspired by authentic Saudi heritage and Islamic history before expanding internationally.
It will present various types of interactive exhibitions, including permanent and touring exhibitions, to provide multisensory immersive experiences, which will enhance the local culture and tourism sectors.
The company will also contribute to the localization of knowledge and technology for the private sector content creation industry, which will contribute to supporting Saudi Arabia’s position in this fast-growing sector regionally and globally, it stated.
QSAS, derived from an Arabic word meaning “stories,” will aim to enrich visitors’ experiences, especially for those interested in culture, it added.
PIF said the new firm will highlight important historical milestones and inspiring personalities from Saudi Arabia and worldwide.
The establishment of QSAS is in line with PIF’s strategy to enable the private sector locally through partnerships in areas such as building, construction, event management and technology. The setting up of QSAS is expected to contribute to the creation of more than 11,000 direct and indirect jobs by 2030, it added.
Mishary Alibraheem, Head of Entertainment, Leisure, Sports and Education, MENA Direct Investments at PIF, said: "The tourism and entertainment sector is a strategic local priority for PIF, as we focus on enriching the tourism and entertainment experience."
"QSAS will contribute to strengthening Saudi Arabia’s position as an attractive tourist destination with storytelling inspired by history, culture and heritage, and will invest in local talent to build new economic activity focused on providing interactive experiences; a sector which is witnessing significant global growth," he added.
According to him, the company will launch locally with exhibitions that tell stories inspired by Islamic history and Saudi heritage before expanding later to global markets and diversifying the sources of storytelling content.
QSAS will complement other PIF investments in the entertainment and leisure sector, including the Diriyah giga-project, and the recently launched Dan Company, which focuses on agri-and eco-tourism, said Alibraheem.
It also aligns with the objectives of the Pilgrim Experience Program: a Vision 2030 initiative which aims to build capacity for 30 million pilgrims by 2030, as well as with the Ministry of Tourism’s National Tourism Strategy to attract 150 million visitors annually by the same timescale through enriching the visitor experience, he added.-TradeArabia News Service
