Saudi Arabia to Invest €6 Billion in Massive Entertainment Complex Near Paris

PARIS — Saudi Arabia will spend €6 billion to build a massive entertainment complex boasting three theme parks near Paris, French President Emmanuel Macron said. Macron and Saudi Crown Prince Mohammed bin Salman signed an agreement formalizing the deal to build what the French leader called “a new global destination” at the Elysée Palace on Monday. It is expected to create 22,000 jobs, Macron said. The massive project, which Macron said will also include hotels, catering facilities and housing for young workers and students, is being built on the former site of Mirapolis, a massive theme park that has been shuttered since 1991. Among the parks being built is one centered around manga, as POLITICO reported earlier this month. The development is also expected to include 50,000 m² of green spaces dedicated to biodiversity. Its developers say they aim to make it an “exemplary” project from an environmental perspective and a catalyst for development both for the local area and for France as a tourist destination. However, no specific timetable for completion has been announced at this stage. The memorandum of understanding signed by the Economy Minister Roland Lescure and the chief executive of Qiddiya Investment Company, a subsidiary of Saudi Arabia’s sovereign wealth fund, is part of a series of agreements struck by Paris and Riyadh during the crown prince’s visit.