Saudi Arabia Accelerates Entertainment Growth with $196 Billion Investment in Giga-Projects by 2030
Saudi Arabia’s entertainment sector is experiencing a significant expansion, with a focus on mega-projects aimed at transforming the kingdom into a global tourism hub. In January 2023, Crown Prince Mohammed bin Salman officially announced the designation of Diriyah as the Public Investment Fund’s (PIF) fifth giga-project. This development, located on the outskirts of Riyadh, joins an ambitious lineup that includes Neom, Red Sea, Qiddiya, and Roshn.
Major Investments and Projects
Saudi Entertainment Ventures, a subsidiary of Qiddiya, is investing $13 billion to develop 21 entertainment destinations across the kingdom. These projects are part of a broader strategy to attract 150 million annual visits by 2030, capitalizing on the rapid growth of tourism since the country opened its doors to international visitors in 2019.
According to Knight Frank’s 2025 report on Saudi Arabia’s giga-projects, the total value of contracts awarded since the launch of Vision 2030 in 2016 has reached an impressive $196 billion.
Qiddiya: A New Era of Entertainment
Qiddiya, a multibillion-dollar entertainment city near Riyadh, is poised to become the world’s largest entertainment destination, surpassing even Walt Disney World. The Qiddiya Investment Company (QIC) has collaborated with the Bjarke Ingels Group to create a master plan that includes a variety of attractions such as the Aquarabia water park, the first Dragon Ball theme park, and a dedicated gaming and esports district.
The entertainment offerings will also feature an immersive motorsport circuit and a performing arts center that integrates advanced technologies like virtual reality (VR) and augmented reality (AR).
Aquarabia Water Park
Upon its opening, Aquarabia will be the largest water park in the Middle East, spanning 25 hectares and featuring 22 rides and experiences developed by WhiteWater, a leading waterpark manufacturer. Notable attractions will include the world’s tallest water coaster and the first surf pool in the kingdom. Additionally, the park will introduce the world’s first underwater theme park ride, Aquaticar: Legend of the Glowing Guardian, developed by Sub Sea Systems, Inc.
Six Flags Qiddiya City
The first Six Flags theme park outside North America is set to open in Qiddiya on December 31, 2025. This park will feature 28 rides and attractions, including record-breaking roller coasters. Highlights include Falcons Flight, the tallest, fastest, and longest coaster globally, and Into The Deep, an interactive dark ride created by Triotech.
Neom: The Land of the Future
Launched in 2017, Neom is a $500 billion project that aims to create a futuristic city covering an area 33 times larger than New York City. This ambitious initiative will include cognitive cities, ports, research centers, and entertainment venues. Saudi officials anticipate welcoming around one million visitors by 2025 and five million by 2030.
Neom’s first luxury island, Sindalah, is set to launch in late 2024, featuring world-class dining, hotels, and a state-of-the-art marina.
The Red Sea Project
Red Sea Global is spearheading another significant development focused on luxury and sustainability. The Red Sea project aims to create the world’s most sustainable luxury tourism destination, with plans to build 50 resorts by 2030. The initiative emphasizes regenerative tourism, aiming to preserve the natural beauty of the region while providing economic opportunities.
The Red Sea will also introduce the world’s first destination offering bottled water made from air and sunlight, utilizing patented solar technology. The project aims to operate entirely on renewable energy.
Diriyah: A Cultural Hub
Diriyah, confirmed as the PIF’s fifth giga-project, is a $62.2 billion cultural and lifestyle destination located near Riyadh. This development will include the historical district of At-Turaif, a UNESCO World Heritage Site, and various cultural assets such as museums, cinemas, and educational institutions.
The Qurain Cultural District and the Northern District will feature facilities for arts and education, including academies for writing and performing arts. The first hotel at Diriyah, Bab Samhan, is expected to open in January 2025, with plans for around 40 hotels in total.
Amaala: A Wellness Destination
Amaala, while not classified as a giga-project, is a flagship development under Vision 2030. This ultra-luxury wellness destination will focus on health and sustainability, featuring nearly 4,000 rooms across 30 hotels. The project aims to limit annual guests to 500,000 to protect the local environment and plans to achieve a 30% net conservation benefit by 2040.
Conclusion
Saudi Arabia’s ambitious plans for its entertainment sector are set to redefine the region’s tourism landscape. With substantial investments in various giga-projects, the kingdom is poised to become a global leader in entertainment and tourism by 2030.
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Published on 2023-04-21 11:00:00 • By FAME Delivered News Desk