The Public Investment Fund (PIF) has launched the National Interactive Entertainment Company (QSAS) to develop immersive experiences inspired by Saudi heritage and Islamic history.
The new company will create interactive exhibitions across Saudi Arabia to enhance tourism and culture.
This company will generate over 11,000 jobs by 2030 and support Saudi Arabia’s growing entertainment sector, aligning with Vision 2030 goals.
The QSAS Vision
QSAS represents a bold endeavor to harness the power of cutting-edge technology and seamlessly interweave it with Saudi Arabia’s profound cultural legacy.
By developing state-of-the-art interactive exhibitions and multi-sensory experiences, QSAS seeks to captivate audiences with narratives that transcend conventional storytelling methods.
QSAS Meaning
The name QSAS itself is a testament to the company’s profound reverence for its roots, derived from the Arabic word for “stories.”
This designation summarizes the essence of QSAS’s mission, which is to breathe life into the tales that have shaped the Kingdom’s identity, offering visitors an unparalleled opportunity to immerse themselves in the annals of Saudi and Islamic history.
Elevating the Cultural Landscape
QSAS’s ambitious undertaking extends beyond mere entertainment; it represents a concerted effort to enrich Saudi Arabia’s cultural landscape. By developing innovative and creative storytelling experiences, QSAS aims to foster a deeper worldwide appreciation for the Kingdom’s heritage.
Through a diverse array of interactive exhibitions, ranging from permanent installations to touring showcases, QSAS will transport visitors on a captivating journey through time.
These multi-sensory experiences will educate and inspire, highlighting pivotal historical milestones and celebrating the lives of influential figures who have left an indelible mark on Saudi and Islamic civilization.
Unveiling Saudi Arabia’s Storied Past
As QSAS embarks on its inaugural phase, it will commence operations within the Kingdom, unveiling a series of immersive exhibitions that draw inspiration from Islamic history and Saudi heritage.
These initial offerings will serve as a prelude to the company’s global expansion, where it plans to diversify its storytelling sources and introduce narratives that transcend geographical boundaries.
Through cutting-edge technologies and innovative presentation techniques, QSAS will transport visitors where history comes alive. Iconic figures and pivotal events will be brought to life, allowing audiences to profoundly understand the rich tapestry that has shaped Saudi Arabia’s identity over the centuries.
Fostering Cultural Appreciation
Beyond mere entertainment, QSAS’s endeavors hold the potential to foster a deeper appreciation for Saudi Arabia’s cultural heritage among domestic and international audiences alike.
By providing an immersive and engaging platform for storytelling, QSAS aims to bridge gaps, dispel misconceptions, and cultivate a greater understanding of the Kingdom’s unique cultural and historical narrative.
Nurturing New Generations
Beyond its immediate impact, QSAS’s endeavors hold the potential to inspire and nurture a new generation of Saudi storytellers.
By providing a platform for creative expression and fostering an environment that celebrates the art of storytelling, QSAS will empower local talent to explore new avenues and push the boundaries of their craft.
Through workshops, mentorship programs, and collaborative initiatives, QSAS will cultivate a vibrant ecosystem that nurtures creativity, fosters innovation, and empowers aspiring storytellers to share their unique perspectives with the world.
Job Creation through QSAS
The establishment of QSAS is a testament to PIF’s unwavering commitment to empowering the private sector and fostering economic growth within the Kingdom.
By forging partnerships across various industries, including construction, event management, and technology, QSAS is poised to generate many employment opportunities.
According to projections, this groundbreaking initiative is expected to create more than 11,000 direct and indirect jobs by 2030, aligning with Saudi Arabia’s Vision 2030 goals and underscoring the Kingdom’s dedication to nurturing local talent.
Aligning with National Goals
QSAS’s inception is a strategic move that aligns with Saudi Arabia’s goals. By enhancing the Kingdom’s appeal as a premier tourist destination, QSAS will play a pivotal role in supporting initiatives such as the Pilgrim Experience Program, which aims to accommodate 30 million pilgrims by 2030.
Moreover, QSAS’s endeavors are in lockstep with the Ministry of Tourism’s National Tourism Strategy, which envisions attracting a staggering 150 million visitors annually by the end of the decade. QSAS will undoubtedly contribute to the realization of this ambitious goal.
Reviving Saudi Arabia’s History
The establishment of QSAS by the Public Investment Fund of Saudi Arabia represents a bold and visionary step towards preserving and celebrating the Kingdom’s rich cultural heritage.
By harnessing the power of cutting-edge technology and immersive storytelling, QSAS will transport audiences on captivating journeys through time, offering an unparalleled opportunity to experience Saudi Arabia’s storied past in a truly engaging and interactive manner.
More PIF’s Ventures
PIF’s Partnership with Concacaf
Saudi Arabia’s Public Investment Fund has entered a long-term agreement with Concacaf, FIFA’s governing body for football in the Americas.
This collaboration focuses on developing the sport across all levels in North, Central America, and the Caribbean.
The deal fits with PIF’s expanding sports investment strategy as the US, Mexico, and Canada gear up for the 2026 FIFA World Cup.
PIF’s London Heathrow Airport Acquisition
Saudi Arabia’s Public Investment Fund and the private equity firm Ardian from France have acquired a 38% stake in the London Heathrow Airport for approximately $4.1 billion.
After acquiring it from Ferrovial and other shareholders, this investment will give Ardian a 22.6% share and PIF a 15% stake.
This move aligns with PIF’s goal of promoting long-term business collaborations and investing in the global aviation industry.
PIF’s Partnership with ATP
Saudi Arabia’s PIF and ATP, the organization that oversees men’s tennis, have revealed a new long-term partnership to enhance tennis worldwide.
Through this deal, PIF will be the official sponsor of the ATP Rankings and a key partner in ATP events.
This announcement comes after Rafael Nadal was named ambassador for the Saudi Tennis Federation and the introduction of the 6 Kings Slam Tennis Tournament, set for Riyadh this October, featuring top stars like Novak Djokovic.
The PIF-Backed BlackRock Investment Platform
BlackRock, the most significant asset manager globally, has announced the establishment of a new investment platform in Saudi Arabia, financed by up to $5 billion from the Public Investment Fund of Saudi Arabia.
The primary goal of this initiative is to expedite the growth of Saudi Arabia’s financial markets and provide funding for various investments in the region, including the Middle East and North Africa.
The PIF, which invested $31.5 billion last year, is the largest sovereign wealth fund in expenditure worldwide.
The PIF’s Stake in STC
Saudi Arabia’s Public Investment Fund (PIF) has acquired the majority share of Saudi Telecom’s tower unit for $3.15 billion. This acquisition aims to merge the unit with other local assets to establish a prominent regional mobile tower entity.
The PIF will hold a 54% stake while STC will own 43%, jointly managing approximately 30,000 towers across five countries, which aligns with the economic transformation goals of Vision 2030.
As part of this new venture, STC will invest 533 million riyals in capital and utilize the proceeds from selling its towers unit, Tawal, to support domestic and international expansion.
PIF’s Investment in Mobile Gaming
Savvy Games Group, wholly owned by the Public Investment Fund of Saudi Arabia, is looking to increase its mobile gaming investments following Monopoly Go’s success.
This game brought in a whopping $2 billion in revenue. Savvy Games Group acquired Scopely, a top video game developer, in April for $4.9 billion. The same month, they launched Monopoly Go with a marketing budget of $500 million.
The Kingdom of Saudi Arabia’s ongoing gaming investments aim to establish itself as a significant player in the video game industry.
PIF’s Electric 360 Partnership
The PIF has entered into a long-term partnership, Electric 360, with Formula E, Extreme E, and E1 Powerboat racing to accelerate Electric Motorsports’ global expansion.
The PIF, which already owns a 5% share in Formula E and nearly 50% share in off-road Extreme E, will now include thrilling races in Saudi Arabia, including the annual Formula E event held in the historic city of Diriyah.
The Launch of ALAT
The Public Investment Fund of Saudi Arabia has introduced ALAT to establish the Kingdom as a leading destination for electronics and advanced industries.
Focusing on producing semiconductors, robotics, advanced computing devices, intelligent household appliances, and digital entertainment goods, ALAT aspires to generate 39,000 employment opportunities and contribute a total of $9.3 Billion to the non-oil GDP of Saudi Arabia by the year 2030.
The PIF’s Magic Leap Investment
The Public Investment Fund has made a significant investment of $590 million in Magic Leap, a U.S.-based company known for its expertise in immersive virtual reality headsets, directly competing with Apple’s Vision Pro.
This strategic move coincides with the imminent release of Apple’s Vision Pro, priced at $3,499, further escalating the rivalry among Magic Leap, Meta, and Apple.
With this considerable financial injection, Magic Leap’s total funding now surpasses $4.5 billion, positioning it for a potential technological revolution.
PIF and ESPN Partner in PFL
The PIF has partnered with ESPN in a significant deal involving the Professional Fighters League. The partnership highlights Saudi Arabia’s growing influence in global sports.
The deal involves broadcasting and Pay Per View on ESPN+ and aims to boost Saudi Arabia’s presence in the international sports arena.
This diverse technology and sports portfolio showcases PIF’s dedication to promoting sports and investing in high-profile events.
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