The Cultural Development Fund, in collaboration with the Ministry of Investment and the Riviera Content Fund, hosted a special event on the sidelines of the 79th Cannes Film Festival, according to the Saudi Press Agency.
The event sought to capture international investment into Saudi Arabia’s fast-growing film industry, while also highlighting the remarkable achievements of the Riviera Content Fund, the Kingdom’s first Saudi film investment fund.
It brought together international investors, studios, production companies, as well as fund managers.
The CEO of the Cultural Development Fund, Majed bin Abdulmohsen Al Hugail, said that Saudi Arabia’s film industry has emerged as a fully integrated ecosystem and has become a more compelling for investment than at any point in its history.
He further underscored the sector’s strong investment potential, driven by expanding infrastructure, progressive regulatory frameworks, creative talent, and advanced financing solutions.
Apart from this, the event shed light on the Riviera Content Fund’s investments, which have exceeded SAR 54 million out of a total capital base of SAR 375 million.
Overall, the initiative stands as a testament to Saudi Arabia’s broader push to elevate its cultural economy, empower local creative talent, and attract successful investment, in line with the ambitious objectives of the Saudi Vision 2030.
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