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Saudi Arabia’s Qiddiya Investment Company has signed a landmark agreement worth approximately €6 billion (26 billion Saudi riyals) to develop three entertainment cities in France. The deal was formalized on the sidelines of the Saudi Crown Prince's official visit to France. Located in the Cergy-Pontoise region near Paris, the massive development project is projected to generate roughly 22,000 new job opportunities while strengthening bilateral economic ties between the two nations.
Under the leadership of Qiddiya Investment Co., the development will incorporate commercial entertainment complexes, residential units targeted at young professionals and students, as well as comprehensive hospitality, dining, and accommodation facilities. French President Emmanuel Macron highlighted the initiative as an unprecedented collaborative effort that will transform Cergy-Pontoise into a prominent global entertainment and tourism hub, aligning with Saudi Arabia's international investment strategy.
For Saudi Arabia, this mega-deal highlights the global expansion of Vision 2030 entities and demonstrates their ability to export hospitality and entertainment expertise internationally. Middle Eastern investors and market participants should view this as a clear signal of ongoing diversification into high-yield, long-term foreign assets that bolster non-oil economic revenue.
