The Cultural Development Fund (CDF), the key financial enabler of the cultural sector in Saudi Arabia, has announced its sponsorship of the Red Sea Souk during the fourth edition of the Red Sea International Film Festival (RSIFF), set to take place from December 5 to 14 in Jeddah.
The CDF is dedicated to activating the 16 cultural sub-sectors outlined in the Kingdom’s National Culture Strategy, including film. As a proud sponsor for three consecutive years, the Fund demonstrates its unwavering support for the Saudi film sector through this sponsorship, reflecting its commitment to enhancing the quality of life and contributing to the economy in Saudi Arabia through its ESG investment approach and enablement programs for creators and “Cultural Financing” for companies.
The Red Sea Souk, a thriving hub for filmmakers and industry professionals, provides a unique platform for creativity, collaboration, and exchange within the film industry. As part of its sponsorship, CDF will actively participate in the RSIFF, engaging in various activities. This includes having its own pavilion at the Red Sea Souk, communicating with filmmakers, hosting a private networking reception for top local and international filmmakers and companies, and participating in networking sessions and workshops within the RSIFF programs. Here, the Cultural Development Fund will exchange knowledge and expertise on the needs of the Saudi film sector, showcasing the funding solutions from enablement services to the financial services, such as the first-of-its-kind Cultural Financing.
The fourth edition of the Red Sea International Film Festival will be held in Al-Balad, a UNESCO World Heritage site in Jeddah, celebrating the region's cultural heritage while spotlighting the future of film in Saudi Arabia. With a theme of ‘The New Home of Film,’ RSIFF continues to attract global talent, audiences, and industry leaders.
Shivani Pandya Malhotra, Managing Director at the Red Sea International Film Festival, emphasised the importance of this partnership: “By collaborating with the Cultural Development Fund, we are strengthening the foundation for cultural and creative industries in the Kingdom. The Red Sea Souk is a pivotal platform for emerging and established filmmakers, and CDF’s involvement underscores the shared vision of empowering talents and shaping the future of cinema in Saudi Arabia and beyond.”
Majed bin Abdulmohsen Al-Hugail, CEO of the CDF, said: “We are proud of our partnership with the Red Sea International Film Festival, with which we share a vision of developing the landscape of the film industry and enhancing the global visibility of Saudi cinema, benefiting both the Kingdom’s economy and society as a whole. We believe in the importance of collaborative effort as we continue to build strategic partnerships with key players in the government, private, and non-profit sectors. To date, the Cultural Development Fund’s financial support of the film industry has exceeded 240 million SAR, for numerous businesses across the film value chain. This investment has significantly contributed to the prosperity of the film sector, created jobs for local talent, and positively impacted the economy as a whole. As we look to the future, we are committed to investing in the cultural sector, in which film plays a vital role, ensuring it thrives both locally and globally.”
The sponsorship reaffirms CDF's commitment to advancing cultural initiatives in Saudi Arabia, nurturing the growth of local talent, and positioning the Kingdom as a global destination for creative industries.
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About the Cultural Development Fund
The Cultural Development Fund was founded in 2021 with the aim of further enhancing the cultural landscape within Saudi Arabia. Organizationally linked to the National Development Fund, to promote the development of a self-reliant cultural sector. The Fund actively supports a variety of cultural activities and projects, facilitates investment, and seeks to improve the domestic cultural sector's profitability in alignment with the National Culture Strategy and Saudi Vision 2030.
