GulfBase Live Support
Leave a message and our representative will contact you soon
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
Ticker | Price | Volume |
---|---|---|
SAUDIARAMCO | 27.10 | 9,184,998 |
QNBK | 17.70 | 2,498,624 |
09/12/2024
Saudi Arabia's point-of-sale transactions dipped in the first week of September, dropping by 4.9 percent from the previous week to reach SR13.3 billion ($3.5 billion), with the education sector leadi
Arab News
09/12/2024
Saudi Arabia's top council on economic affairs reviewed a number of reports during a virtual meeting held on Wednesday, the Saudi Press Agency reported. The Council of Economic and Development Affai
Arab News
15/09/2024
RIYADH: Three employees of the Zakat, Tax, and Customs Authority at the King Abdullah Port in Rabigh have been arrested after receiving bribes from six residents.
The bribes amounted to SR2,
Arab News
14/09/2024
Saudi Arabia's annual inflation rate reached 1.6 percent in August compared to the same month last year, driven by higher housing costs, official data showed.
According to the General Autho
Arab News
13/09/2024
S&P Global Ratings has revised its outlook on Saudi Arabia to positive from stable and affirmed its 'A/A-1' long- and short-term foreign and local currency unsolicited sovereign credit ratings. The
Saudi Gazette