RIYADH — Saudi Arabia's Minister of Culture Prince Badr Bin Abdullah Bin Farhan signed on Tuesday a number of agreements to set up an ambitious Media City project in the Kingdom.

The deals cover cultural, media and technical aspects of the city, which will serve as a unique global destination.

The project is located in the embassies neighborhood in the Saudi capital, Riyadh. It includes cultural, media and technical departments that play a direct role in shaping the innovative industry, such as publishing, podcasts, film, social media, digital ads and education, virtual reality, photography, design, newspapers, magazines, radio and television.

The project offers diverse services to meet the demands of the cultural, media and technical sectors, such as studios, offices and residential and business zones. The project offers an opportunity to develop and boost the growth of promising SMEs and offers direct and indirect jobs.

An agreement saw MBC Group, Al Arabiya and Al Hadath network and the Saudi Research and Marketing Group (SRMG) sign deals to set up new headquarters for them in the city.

Prince Badr, who is also the chairman of the Media City project, said that it is part of a series of major projects that are sponsored by the Kingdom’s leadership and that aim to benefit from Saudi Arabia’s wealth and capabilities.

The project cannot be restricted in one sector, “but it has taken us to unlimited heights in all future, knowledge, media and cultural sectors,” he stated.

Prince Badr said the city aims to become one of the most innovative in the world.

“The Kingdom has the means and the will to forge ahead in achieving our goals that are backed by Custodian of the Two Holy Mosques and the Crown Prince,” he added.