Saudi Arabia launches cultural asset insurance project

Saudi Gazette report

RIYADH — Minister of Culture Prince Badr Bin Abdullah Bin Farhan announced a new initiative enabling owners of artworks and historical buildings in Saudi Arabia to insure their properties.

In a statement on the social media platform X, the minister highlighted that this project is a collaboration between the Ministry of Culture and the Saudi Insurance Authority.

He described it as a crucial step towards protecting cultural assets, emphasizing the ministry’s commitment to preserving Saudi Arabia’s cultural heritage, developing infrastructure, restoring historical sites, caring for artworks, and supporting the creative economy.

This aligns with the goals of the National Strategy for Culture.

Prince Badr previously stated that the Ministry is vigorously working to enhance all facets of Saudi culture, both tangible and intangible.

He noted that special attention would be given to historical buildings to ensure their preservation as lasting monuments to the nation’s rich cultural history.