Ithra Joins as Strategic Partner in the First-Ever Cultural Investment Conference
Ithra signs landmark MoUs with Saudi Cinema Association and Dammam Airports
Riyadh – Asdaf News:
The King Abdulaziz Center for World Culture (Ithra), an Aramco initiative, participated as a strategic partner in the first-ever Cultural Investment Conference, held under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia. The two-day conference, taking place on September 29–30, 2025, at the King Fahd Cultural Center in Riyadh, brought together global leaders, innovators and policymakers to chart the future of cultural investment in Saudi Arabia.
During the event, Ithra signed two landmark Memorandums of Understanding with key partners: the Saudi Cinema Association and Dammam Airports. These agreements are designed to have a direct and practical impact on the Kingdom’s cultural and artistic activities. They also highlight Ithra’s active role as a driving force for culture and the arts, both regionally and globally, and its contribution to building a knowledge-based economy.
Commenting on the occasion, Noura Alzamil, Head of Programs at Ithra, said: “We are delighted to sign these strategic partnerships, which will expand the cultural landscape within the Kingdom. By building bridges of collaboration with key organizations across sectors, and by harnessing Ithra’s resources and expertise, we aim to empower young people and emerging talents to shape their futures with the knowledge and skills essential for the 21st century.”
She added that Ithra’s participation in the Cultural Investment Conference builds on its ongoing journey of exploring opportunities at both local and global cultural forums. “Our aim is to present bold visions and actionable ideas that spark pioneering cultural projects and initiatives, delivering meaningful outcomes for society and driving the Kingdom’s sustainable cultural development,” she said.
The Memorandum of Understanding signed with the Saudi Cinema Association aims to support the growth of the Kingdom’s film industry and cinematic landscape, including hosting the Saudi Film Festival at Ithra in Dhahran. The agreement with Dammam Airports, meanwhile, seeks to enrich the passenger experience by incorporating artistic and cultural elements that reflect Saudi identity and foster cross-cultural exchange.
In a session titled “Documenting Impact and Leadership”, Abdullah Alrashid, Director of Ithra, emphasized the Center’s role as a vital cultural investor, focusing on human capital, talent, and positive societal impact. “While financial investors may focus predominantly on market size and financial returns, Ithra prioritizes positive cultural and social impact. We are able to support early-stage projects with high social value, even if their immediate market potential is limited,” he said.
He cited the Tanween Challenges as an example, where designers develop innovative creative solutions to global challenges. With Ithra’s support, many of these projects have been realized. Alrashid also highlighted the Ithra Arabic Content Initiative, delivered in partnership with the Cultural Development Fund, which has helped applicants progress through multiple development stages to launch their own projects. “By combining cultural impact with financial sustainability, Ithra has contributed to the creation of over 600 jobs and more than 50 successful startups in the past three years,” he noted.
At the conclusion of the conference, all sponsors and partners were honored, with Ithra recognized as a strategic partner. The award was received on behalf of the Center by Sharifa Alamer, Head of Partnerships and Strategies at Ithra.
The Cultural Investment Conference serves as a global platform bringing together investors, policymakers, cultural leaders and creatives, positioning culture as a driver of growth and innovation. Organized by the Ministry of Culture in its inaugural edition, the conference highlights pioneering financing models, strategic partnerships, and the expanding role of cultural capital in supporting economic growth, strengthening national identity, and enhancing global influence.
