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RIYADH: The Saudi Ministry of Culture signed a memorandum of understanding with Asyad Holding, leading a consortium that includes Spark Lab ����ֱ�� and Lamar Investment Holding, to develop a multi-purpose cultural landmark in Riyadh. 

Announced at the Cultural Investment Conference 2025, the project is part of the government’s push to attract private sector investment into the Kingdom’s cultural sector and strengthen Riyadh’s position as a regional cultural hub.

The agreement aligns with the objectives of ����ֱ��’s National Culture Strategy, which aims to make culture both a way of life and an economic driver, supporting Vision 2030 goals to diversify the Kingdom’s economy.

The landmark will house a talent and business incubator serving film, music, theater, and visual arts enterprises. It will offer access to tools, equipment, and spaces for production, innovation, and creative development, while helping cultural entrepreneurs market their work and expand their reach. 

The initiative aims to boost the sector’s sustainability and create new investment opportunities with strong economic potential.

Under the MoU, the consortium and the Ministry will also collaborate on developing new programs to foster sectoral growth and establish partnerships with leading companies and international experts in cultural industries.

The agreement represents one of the Ministry of Culture’s efforts to encourage private sector participation in the cultural sector, creating diverse investment opportunities that maximize the value of cultural assets and advance the objectives of the National Culture Strategy.

RIYADH: Under the patronage of Prince Bader bin Abdullah bin Farhan Al Saud, minister of culture and chairman of the board of directors of the Cultural Development Fund, CDF has signed an agreement to establish the second dedicated investment fund in the film sector with a total capital of SR375 million ($100 million). 

The fund will be managed by BSF Capital, with CDF participating as an anchor investor.

The announcement was made during the Cultural Investment Conference organized by the Ministry of Culture at the King Fahad Cultural Center in Riyadh, held under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.

The fund, which will collaborate with one of the world’s leading film production companies is designed to expand investment horizons in the Kingdom’s growing film sector.

Its focus will include strategic investments in innovative projects and facilities within the film industry, both locally and internationally, covering film production, distribution, and infrastructure development, while adhering to global best practices in asset and risk management.

This marks the second film investment fund in which the Cultural Development Fund plays the role of an anchor investor, following the “Riviera Content” Fund – formerly known as the Saudi Film Fund.

With the launch of this new fund, the total value of the two funds now stands at SR750 million, underscoring the strength and attractiveness of Saudi cinema and the Kingdom’s promising investment potential in the cultural and creative industries.

The announcement took place as part of the inaugural Cultural Investment Conference — the first global event dedicated to positioning culture as an economic driver.

Through initiatives such as this, the Cultural Development Fund continues to play its role as a center of excellence and financial enabler for the cultural sector, introducing innovative financing solutions that support sustainable growth, encourage private investment, and align with the National Culture Strategy and Saudi Vision 2030.