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Saudi Arabia’s PIF Launches New Entertainment Company QSAS
PLUS; Halo Space to Launch Next Test Flight from Riyadh in September 2024
The Suadi Boom
September 24, 2024
Welcome to The Saudi Boom. The No.1 Business Site & Newsletter in Saudi Arabia. Discover The Latest Developments and Opportunities in The Kingdom of Saudi Arabia.
LATEST NEWS
In Today’s Edition:
Saudi Arabia’s PIF Launches New Entertainment Company QSAS to Develop Heritage Inspired Storytelling
Halo Space to Launch Next Test Flight from Riyadh in September 2024
Saudi Arabia’s Crown Prince Directs PIF to Invest $5 Billion in Egypt
Riyadh Zoo Will Offer Free Entry at Riyadh Season 2024
THE PIF
✨Saudi Arabia’s PIF Launches New Entertainment Company QSAS to Develop Heritage Inspired Storytelling
Saudi Arabia's Public Investment Fund (PIF) is launching a new venture – QSAS, the National Interactive Entertainment Company. This company aims to captivate audiences with immersive storytelling experiences inspired by the Kingdom's rich heritage and Islamic history.
Key Takeaways:
QSAS will develop and operate world-class interactive exhibitions across Saudi Arabia.
These experiences will showcase historical milestones and inspiring figures, catering to pilgrims, tourists, and locals alike.
QSAS's initial focus will be on local exhibitions, before expanding to global markets with diverse narratives.
QSAS marks a significant step towards enriching Saudi Arabia's cultural landscape. By using innovative storytelling techniques, the company aims to foster a deeper appreciation for the Kingdom's heritage on a global scale. Read more
TRAVEL
Halo Space, a leading near-space tourism company, is gearing up for its next test flight this September. Launching from Riyadh, this mission will test their Aurora capsule and push the boundaries of Saudi Arabia's ambitions in space tourism.
Key Takeaways:
The test flight, scheduled for late September, will take place near Layla, approximately 350 km southeast of Riyadh.
Halo Space's Aurora capsule will undergo rigorous evaluations at an altitude of 30 kilometers above Earth's surface.
This mission represents a crucial step towards Halo Space's goal of offering commercial near-space tourism flights by 2026.
Halo Space's upcoming test flight signifies a leap forward in Saudi Arabia's burgeoning space tourism industry. It paves the way for future space experiences for travelers seeking a taste of the extraterrestrial. Read more
ECONOMY
Saudi Arabia's Crown Prince Mohammed bin Salman has directed the Public Investment Fund (PIF) to invest $5 billion in Egypt. This strategic move signifies a growing focus on bolstering economic ties between the two nations.
Key Takeaways:
The $5 billion investment by PIF will be directed towards various sectors in Egypt, potentially including infrastructure, tourism, and healthcare.
This collaboration highlights Saudi Arabia's ambition to become a leading regional investor and strengthen its economic partnerships within the Arab world.
The specific projects or sectors to receive the investment are yet to be announced.
The Crown Prince's directive reflects Saudi Arabia's commitment to fostering economic cooperation within the Middle East. This $5 billion investment holds the potential to create new opportunities and drive further economic growth in both Saudi Arabia and Egypt. Read more
FREE FUN TRAVEL
Calling all animal enthusiasts! The Riyadh Zoo is set to become a free-entry attraction during the highly anticipated Riyadh Season 2024, starting October 30th. This exciting addition allows families and visitors to experience the wonders of the animal kingdom at no cost.
Key Takeaways:
Free Entry: Enjoy a fun and educational day at the Riyadh Zoo without breaking the bank during Riyadh Season 2024.
Diverse Animal Kingdom: Explore the zoo's over 1,300 animals representing 190 species, including fascinating creatures from all corners of the globe.
Family-Friendly Activities: The zoo offers exciting experiences like giraffe feeding and live bird shows, making it a perfect family outing.
The forum's success strengthens Saudi Arabia's plans to become a global aviation hub. Read more
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