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  3. SAUDI ENTERTAINMENT VENTURES (SEVEN) SIGNS LICENSE AGREEMENT WITH FORMULA E TO BRING THE WORLD’S FIRST FORMULA E KARTING ATTRACTIONS TO SAUDI ARABIA

SAUDI ENTERTAINMENT VENTURES (SEVEN) SIGNS LICENSE AGREEMENT WITH FORMULA E TO BRING THE WORLD’S FIRST FORMULA E KARTING ATTRACTIONS TO SAUDI ARABIA

01 Feb 2024
  • How does the integration of Formula E Karting attractions at SEVEN entertainment destinations contributing to the evolution of motorsport in Saudi Arabia?

Saudi Entertainment Ventures (SEVEN), a wholly owned subsidiary of the Public Investment Fund (PIF) today announced a new partnership with Formula E to build the world’s first Formula E branded indoor karting attraction across multiple SEVEN entertainment destinations across the Kingdom.

The announcement was made from the site of the Diriyah E-Prix where the ABB FIA Formula E World Championship double-header of races will take place on the spectacular illuminated race track this Friday and Saturday.

A Vision for Future Racing Champions

A Vision for Future Racing Champions

Formula E was created to disrupt elite motorsport with a bold vision of using electric racing to accelerate sustainable human progress. What followed was the development of never-seen-before electric racing technology and pioneering race formats to create a sport unrestrained by tradition or expectation.

Abdulla Nasser AlDawood, Chairman of SEVEN, commented: "Our strategic partnership with Formula E to bring never seen before Formula E branded racing tracks within our Entertainment destinations, strategically complements our mission of creating a Multiverse of entertainment offerings that cater to the different needs of our future guests that build and nurture their skills and evokes growth. We aspire to have the 1st Saudi car racing champion coming from our Formula E attraction.

Alberto Longo, Co-Founder & Chief Championship Officer, said: “We are thrilled to be working alongside SEVEN, the entertainment champion in KSA. Our objectives and goals align in bringing the excitement of Formula E to the kingdom and taking fans closer to real racing action through the Formula E Karting experience across the SEVEN destinations. I am confident this incredible initiative will accelerate the potential of Saudi Arabia’s promising young drivers and create a future world champion.”

The license agreement was signed by Eng. Essam Othman Al Jubair, Chief Operating Officer at SEVEN and Alberto Longo, Co-Founder & Chief Championship Officer, Formula E.

The Formula E Karting attractions are set to be built at four of SEVEN entertainment destinations located in Riyadh, Jeddah, Dammam and Abha. Each attraction will offer a diverse selection of adult karts, junior karts, and dual karts, ensuring fun and safe experiences for the entire family. Boasting tracks exceeding 400 meters in length, the Formula E Karting attractions provide extended straightaways for accelerated speed, delivering an unparalleled racing experience for guests.

SEVEN is investing more than SAR 50 billion to build 21 entertainment destinations which will provide unique and innovative world-class entertainment destinations and global partnerships from within the sector. The upcoming projects are located in 14 cities across the kingdom: Riyadh, Kharj, Makkah, Jeddah, Taif, Dammam, Khobar, Al Ahsa, Madinah, Yanbu, Abha, Jizan, Buraidah and Tabuk.

SEVEN, is a wholly owned company of PIF (Public Investment Fund), mandated to invest in, develop and operate entertainment destinations and create a sustainable entertainment sector that caters to the needs of all in Saudi Arabia, in accordance with the highest international standards.

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