Riyadh – Mubasher: The Saudi Public Investment Fund (PIF) has signed a contract with the US-based recreation firm Six Flags to open a theme park in the kingdom. 

To be located in the Qiddiya region, the project is expected to be finalised over the coming four years, Saudi Press Agency (SPA) reported.

The park will be the first cultural, entertainment, and sports destination in Saudi Arabia.

PIF's deal with the US-based entertainment provider comes in line with Saudi Vision 2030, which aims to develop the entertainment ecosystem in the country, promote domestic culture and the recreation sector as well as diversify economic resources.

"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," Six Flags International Development Company president David McKillips stated.

Earlier on Thursday, SPA reported that a wholly-owned PIF unit had inked a deal with AMC to open 30 to 40 cinemas across 15 cities in the kingdom over the next five years, added to 50 to 100 cinemas in 25 cities by 2030.

Other media sources noted on Thursday that the Saudi General Authority for Entertainment (GEA) signed five agreements with Cirque du Soleil, Feld Entertainment, National Geographic, and IMG to collaborate in various areas in entertainment industry.

In 2016, the kingdom and Six Flags started talks about establishing the park.