Saudi Binladin Group has received agreements valued at approximately SR5bn ($1.3bn) from Saudi Entertainment Ventures (Seven), a completely owned subsidiary of Saudi Arabia's Public Investment Fund (PIF). The deals are intended for the construction of Seven's two amusement hubs in the Dammam and Alkhobar districts within Saudi's eastern province. The amusement facility in Alkhobar, referred to as "The Waves", covers an area of approximately 300,000sq.m and will be constructed on regenerated terrain along the waterfront. The Dammam amusement facility spans 360,000sq.m and will also be developed on regenerated waterfront land. Thus far in this year, Seven has granted agreements valued at roughly SR8.5bn for the advancement of its amusement hubs across the realm.