The General Entertainment Authority Chief, Ahmad bin Aqeel al-Khatib, said construction of the building had already begun, adding that the house construction was aimed at attaining global standard in the entertainment sector.
Al Khatib also said the kingdom plans to invest $64 billion in entertainment in the next 10 years, explaining that the funds will be provided by both the government and private sector.
A number of steps have been made to liberalize the ultra-conservative Muslim country. Announcing the move, Minister for Culture and Information Awwad bin Saleh Alawwad said he expected the theaters to open in March.
"We are already building the infrastructure, and the ground had been broken for an opera house, God willing, you will see a real change in the Saudi Kingdom by 2020", Khitab said in a statement. It all falls under the progressive Crown Prince's Vision 2030 program.
Defence Minister Khurram Dastgir says Pakistan attaches great importance to its historic relations with Saudi Arabia and Iran.
In January, Saudi women were allowed for the first time ever to enter a football stadium to watch a game and the kingdom is also opening several sectors of the workplace to women.
The head of the General Entertainment Authority said 5,000 events were planned this year alone, including those by Maroon 5 and Cirque du Soleil. "As the vehicle for a comprehensive range of entertainment options in Saudi Arabia, the General Entertainment Authority is proud to support an event that seeks to bring people together in a mutual appreciation of the power of fashion and art".