The Qiddiya Investment Company, an owned subsidiary of the Public Investment Fund of Saudi Arabia, has entered into a historic memorandum of understanding with the French Government for the development of a revolutionary entertainment centre that will cost $7 billion ($6 billion). The memorandum of understanding is a moment for Saudi Arabia’s efforts in economic diversification as envisaged in Vision 2030.
In contrast to developing its own major entertainment venues in Saudi Arabia, Saudi Arabia has started exporting its entertainment ideas around the world. With QIC establishing itself as a powerful international brand in sports, culture, and lifestyle entertainment industries, the export of venue designs and destination management has become an essential part of its international strategy.
Formalised on Monday, August 24, the agreement was concluded alongside 20 other economic pacts during Crown Prince Mohammed bin Salman’s official state visit to France. French President Emmanuel Macron hailed the project on social media as an “unprecedented announcement” that will establish a prominent international tourism hub in Europe.
Initial plans for the development, located in Cergy-Pontoise, roughly 30 kilometres northwest of Paris, encompass up to three distinct theme parks—including a planned manga-themed attraction—integrated alongside hospitality, commercial dining, residential spaces, and sports infrastructure. Projected to generate approximately 22,000 direct local jobs, the collaborative venture aligns Saudi destination-building expertise with French urban planning, culture, and transport capabilities.
Under the terms of the memorandum signed by Abdullah Al-Dawood, Director General of Qiddiya, and Roland Lescure, French Minister for Economy and Finance, joint working groups will evaluate overall project parameters, establish development models, and determine operational feasibility over the coming months.
The European venture directly leverages technical operational capabilities cultivated at QIC’s flagship project, Qiddiya City. Located outside Riyadh, the master-planned mega-destination serves as the company’s foundational hub for gaming, motorsport, culture, and sports assets. By extending its domestic portfolio into overseas markets, QIC aims to build a broader international footprint while driving long-term value, cross-border investments, and technical knowledge-sharing between the Saudi and French entertainment sectors.
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