Saudi Arabia to Invest $7 Billion in Theme Parks Near Paris

France and Saudi Arabia have signed a memorandum of understanding for a €6 billion ($7 billion) Saudi investment to build three major theme parks near Paris.

The agreement was announced during Saudi Crown Prince Mohammed bin Salman’s two-day visit to France. The project will be developed near Cergy-Pontoise, about 30 kilometres northwest of Paris.

One of the parks is expected to be dedicated to Japanese manga, following discussions between French President Emmanuel Macron and the Saudi Crown Prince about their shared interest in manga, particularly Dragon Ball Z.

The project will be led by Qiddiya Investment Company, a subsidiary of Saudi Arabia’s sovereign wealth fund.

According to the French presidency, the three parks are expected to create approximately 22,000 direct jobs, slightly more than the estimated 20,000 jobs associated with Disneyland Paris.

Macron described the investment as an “unprecedented announcement”, saying the parks could become a new global tourist destination.

Construction will take place in stages over several years, although no official opening date has been announced. The themes of the other two parks have not yet been revealed.

The French government also faced questions about working with Saudi Arabia despite criticism of its human rights record. Macron’s office defended the partnership, saying France does not seek to lecture other countries when attracting major investment projects.

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