The Public Investment Fund (PIF) has announced it is in the process of developing a new company to act as its investment arm in Saudi Arabia’s growing entertainment sector.

The company, which will have an initial capitalization of SAR 10 billion, will play an active investment role in various areas of the entertainment sector, and seek to attract strategic partnerships to build the eco-system within the Kingdom.

Additionally, the company will expand the scope and variety of entertainment offerings according to the latest international standards.