Jeddah, December 10: The Saudi Cultural Development Fund (CDF) has concluded its participation as an official sponsor at the third edition of Red Sea International Film Festival (RSIFF) from Nov 30 to Dec 9; a standout participation that reaffirms CDF’s support for the film sector’s growth in the Kingdom with an overarching goal of positioning Saudi Arabia as a powerhouse for cinema and filmmaking in the region. This participation comes as part of CDF's strategy to establish partnerships with non-profit sector that contribute to the sustainable development of the Saudi film sector.
The Fund's pavilion at the festival stood out as a vibrant space, warmly welcoming filmmakers, as well as numerous artists and filmmakers. The keen interest in the Fund's presented initiatives created an atmosphere of dynamic cultural exchange, highlighting the positive impact of the Fund in enabling the sector and contributing to its development.
On the sidelines of the Festival, CDF hosted a "FilmFunding Lunch" at the Wasl Art Space on December 3rd. The event embodied the Fund's vision to enable those working in the sector by opening lines of direct communication in an event setting designed especially for top local and international companies, allowing them the opportunity to engage in private consultation sessions to listen to their challenges and promote the Film Sector Financing Program.
A noteworthy contribution to the festival was made by Mr. Abdullah Alkhaldi, Chief Investment and Credit Officer at the Saudi Cultural Development Fund. In a panel discussion titled "Unlocking Co-Production Opportunities with the Arab World", he shed light on the government’s role in facilitating investments in the film sector. AlKhaldi also elaborated on the Fund's efforts in offering comprehensive financial support for the sector’s full value chain with a focus on de-risking investments to facilitate market entry for local and international businesses.
Moreover, CDF concluded its participation at the festival by celebrating the first world premiere of “Ahlam Alasr” by the Godus brothers “Sohayb Godus and Faris Godus”. The film’s premiere tickets were sold out within 5 days of the festival, and garnered wide acclaim from both the audience and critics. The film is funded by CDF through its Cultural Projects Incentive Program. Launched two years ago in partnership with the Quality of Life Program, the fund allocated a budget of SAR 181 million to provide non-recoupable financing for projects in the cultural sectors, including film, to meet the needs of the cultural sector and contribute to its development.
