France and Saudi Arabia have formalised a memorandum of understanding concerning a €6 billion ($7 billion) investment aimed at developing three theme parks near Paris, including one likely dedicated to manga, following the Saudi-Franco state visit this week.
The Elysee Palace indicated that the agreement for this major undertaking was concluded during Crown Prince Mohammed bin Salman’s two-day visit to France.
Investment Breakdown
The investment will facilitate the establishment of three theme parks in Cergy-Pontoise, located approximately 30 kilometres northwest of Paris. French President Emmanuel Macron described this initiative as an “unprecedented announcement”, asserting that the parks aim to create a “new global destination”.
The project will be spearheaded by Qiddiya Investment Company (QIC), a branch of Saudi Arabia’s sovereign wealth fund, with a projected generation of about 22,000 direct jobs, surpassing the 20,000 jobs produced by Disneyland Paris.
Philippe Gas has headed QIC since 2020, replacing founding CEO Michael Reininger.
Theme Park Follows Japanese Inspiration
Earlier reports had speculated about a park themed around the iconic Japanese series in the Val-d’Oise region, although no official confirmation was forthcoming at that time.
Macron’s office has since confirmed that one park is indeed expected to focus on manga, while the themes for the remaining two parks are still under wraps.
The construction of the parks will be conducted in phases, with an anticipated timeline of several years for completion, although no specific opening date has been provided.
Stay Up to Date with the Latest Updates at Finance ME
EDGE’s Rodrigo Torres on Risk, Sovereignty and Defence Finance in a Multipolar World
ADNOC Distribution’s Ali Siddiqi: “Growth, Growth and Growth”
