PIF announces agreement with Six Flags in connection with the first Six Flags-branded theme park in Saudi Arabia, advancing strategic development of the entertainment sector

Press Releases
04 April 2018 Riyadh, KSA
New SAR 4 billion fund
PIF will open a Six Flags-branded, theme park in Qiddiya, Saudi Arabia’s iconic entertainment, sporting and cultural destination

Riyadh, Saudi Arabia, 4 April 2018 - The Public Investment Fund (PIF) of Saudi Arabia has entered into an arrangement with Six Flags, the world’s leading international theme park company to develop and design a Six Flags-branded theme park. The said theme park will be located within Qiddiya, the country’s first entertainment, sports and cultural destination, and is expected to open in 2022. Such development is in line with Vision 2030’s broader strategic plan to promote culture and entertainment and build a world-class entertainment ecosystem in Saudi Arabia by attracting local and international investors and creating partnerships with international entertainment corporations. 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 Saudi Arabia’s economy and the realization of the ambitions of Vision 2030. The first Six Flags-branded theme park in the Kingdom forms another part of the development of the sector which will help to create jobs and opportunities for young people in Saudi.”

Michael Reininger, Chief Executive of Qiddiya, commented: “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 theme parks such as this one, as well as the other sporting and cultural facilities that Qiddiya will offer.”

David McKillips, President of Six Flags International Development Company, commented: "Innovation is synonymous with the 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.”