Saudi Public Investment Fund signs agreement with Six Flags to create amusement park in Riyadh

05/04/2018 07:59 AST

Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world's leading international amusement park company, will develop and design the park in Qiddiya, the country's first entertainment, sports and cultural destination set to open in 2022.

The development is part of Saudi Arabia's vision to promote culture and entertainment and attract local and international investors to the sector. Commenting on the agreement, the Public Investment Fund of the Kingdom of Saudi Arabia, said: "Qiddiya, a key project within the Kingdom's entertainment sector, will play an important role in the development of the Kingdom of Saudi Arabia's economy and the realization of the ambitions of Vision 2030. The first Six Flags-branded

amusement park in the Kingdom forms another part of the development of the sector which will help to create jobs and opportunities for Saudi young people,"

For his part, Chief Executive of Qiddiya, Michael Reininger said that "By partnering with a global leader in this sector, we know that we are going to deliver something exceptional that will enrich the daily lives of those living here. With nearly two thirds of the Saudi population under the age of 35, there is a huge appetite

in the Kingdom for amusement parks such as this one, as well as the other sporting and cultural facilities that Qiddiya will offer." On the agreement, David McKillips, President of Six Flags International Development Company has also commented saying that "Innovation is synonymous with our Six Flags brand, and our international licensing business provides a unique opportunity to continue our strong global growth. We see great potential in the Saudi Arabian market and look forward to collaborating with PIF to create a world-class entertainment destination for Saudi's young and dynamic population."

Arab News