Public Investment Fund Announces Agreement with Six Flags
April 06, 2018
The Public Investment Fund (PIF), in line with achieving Vision 2030 diversification aims, announced that it has entered into an agreement with Six Flags to open the first Six Flags-branded theme park in Qiddiya, Kingdom of Saudi Arabia. This will be the Kingdom’s first entertainment, sports, and cultural destination, which is expected to open in 2022. This development fits within the country’s broader strategic plan to promote culture and entertainment, building a world-class entertainment ecosystem within the Kingdom of Saudi Arabia by attracting local and global investors and creating partnerships with international entertainment corporations.
Mr. Michael Reininger, Chief Executive Officer-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.” Mr. David McKillips, President of Six Flags International Development Company, also commented, "Innovation is synonymous with the Six Flags brand, and our international licensing business provides an 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.”