GEA Chairman says entertainment sector to compete with real estate, stock market as income source

08/07/2021 Argaam

Turki Alshiekh, chairman of the GEA

Turki Al-Sheikh, Chairman of the General Entertainment Authority (GEA), said, in an interview with Al Arabiya TV, that the entertainment sector will compete with the real estate sector and stock market.

 

It will become, in collaboration with the tourism sector, an important source of income for citizens and investment within the Kingdom due to the unlimited support granted by Crown Prince Mohammed bin Salman.

 

There are 20 initiatives with the authority, eight of which are currently almost active, and 12 are scheduled, Al-Sheikh said, expecting them to be completed in Q1 2022.

 

Regarding the agreement signed with the Social Development Bank (SDB) to provide soft financing, he pointed out that it will not be the sole agreement; many others will follow with banks and major companies.

 

GEA signed on July 7, a memorandum of understanding (MoU) with SDB to offer up to SAR 500 million loans, according to data compiled by Argaam.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.