AlUla Development Company, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), has entered into a three-year partnership with Live Nation Arabia, a leader in the live entertainment industry. The collaboration aims to transform Maraya, a unique multi-purpose venue in AlUla, into a world-class entertainment hub.
The partnership will bring a diverse range of events to Maraya, including concerts, cultural performances, exhibitions, and conferences, enhancing its status as a key destination for both local and international audiences.
Maraya, renowned for holding the Guinness World Record as the largest mirrored building globally, is not just an architectural marvel but also a cultural beacon set against AlUla’s breathtaking desert landscape. The venue perfectly blends ancient heritage with modern luxury, making it an extraordinary setting for various events. The partnership with Live Nation Arabia will see the company managing the operations at Maraya, including venue bookings and event planning, ensuring that the space is used to its full potential.
Fabien Toscano, CEO of AlUla Development Company, expressed enthusiasm for the new partnership, stating, “We are excited to partner with Live Nation Arabia to unlock the full potential of Maraya as a hub for world-class entertainment and cultural experiences. This collaboration signifies our commitment to showcasing and celebrating AlUla’s natural beauty and rich heritage to the world. Maraya’s top-tier audio-visual facilities, combined with Live Nation Arabia’s international operational expertise, set the stage for unparalleled experiences and new standards for entertainment in the heart of AlUla.”
Live Nation Entertainment, Inc. is an American multinational entertainment company established in 2010 through the merger of Live Nation and Ticketmaster. The company promotes, operates, and manages ticket sales for live entertainment on a global scale. Additionally, it owns and operates entertainment venues and manages the careers of music artists. Live Nation Arabia, part of the global Live Nation Entertainment group, has been a major player in the Middle East’s live entertainment scene since 2008.
A finger in both pies…
While PIF runs the AlUla Development company, it is also an important shareholder in Live Nation. In April 2020, it was announced that the Saudi investment fund had acquired a 5.7% stake in Live Nation, and as of April 28, 2020, the investment was valued at just under $500 million. The transaction, performed on the open market, made the PIF Live Nation’s third-largest shareholder.[
James Craven, President of Live Nation Arabia, highlighted the partnership’s potential, stating, “We are thrilled to partner with AlUla Development Company to elevate Maraya into a world-class entertainment destination. This collaboration signifies a fusion of tradition and innovation, promising unforgettable experiences for audiences and artists alike in a venue that uniquely mirrors the rich cultural heritage and natural beauty of AlUla.”
This partnership is a significant step towards realising the goals of Saudi Arabia’s Vision 2030, particularly in promoting sustainable economic growth and enhancing the cultural and tourism sectors. AlUla Development Company is dedicated to preserving and enhancing the cultural and natural heritage of AlUla, and by collaborating with Live Nation Arabia, it aims to position Maraya as a key entertainment and cultural destination on the global stage.
The venue itself is equipped with state-of-the-art facilities, including a world-class theatre, versatile meeting rooms, and expansive indoor and outdoor spaces. These features make Maraya an ideal location for hosting a variety of events, from high-profile concerts to exclusive product launches and cultural showcases. The unique setting of Maraya, with its mirrored exterior reflecting the surrounding desert landscape, offers a visually stunning backdrop that enhances the overall experience for both performers and attendees.
The collaboration promises to deliver a series of world-class performances and events that will not only attract tourists but also provide a platform for showcasing local culture and talent. By leveraging Live Nation Arabia’s global expertise in event management and live entertainment, Maraya is set to become a must-visit destination for cultural enthusiasts and tourists alike.
In summary, the partnership between AlUla Development Company and Live Nation Arabia marks a new chapter in AlUla’s development as a cultural and entertainment hub. With a shared vision of blending tradition with modernity, this collaboration will bring an exciting array of events to one of Saudi Arabia’s most unique venues.
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