The new park, which is slated for completion in 2022, will be part of Qiddiya, a new entertainment entertainment, sports and cultural destination development.
The announcement was made by US-based regional theme park developer Six Flags Entertainment Corporation and Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF).
Six Flags has entered into an arrangement with the PIF to develop, design and license the Six Flags brand for Qiddiya.
Six Flags International Development Company president David McKillips said: “We see great potential in the Saudi Arabian market and look forward to collaborating with the PIF to create a world-class entertainment destination for Saudi’s young and dynamic population.”
Qiddiya is located 40km from downtown Riyadh, which has a population of more than seven million.
PIF said: “The entertainment sector has an important role to play in the transformation of Saudi Arabia’s economy. The Six Flags-branded theme park in Riyadh and other similar developments will create new employment opportunities and harness the talent, energy and imagination of Saudi youth. Our investment in this sector is in line with our mission and delivers on a key element of Vision 2030.”
Qiddiya chief executive Michael Reininger said: “Our goal is to create an exciting one-of-a-kind destination that will draw visitors from throughout Saudi Arabia to experience record-breaking roller coasters, innovative rides and attractions, as well as the sporting and cultural facilities that Qiddiya will offer. By partnering with a global leader, we know that we are going to deliver something exceptional.”