Saudi Arabia considering Six Flags stake
Saudi Arabia’s Public Investment Fund (PIF) – a company set up to manage the country’s sovereign wealth and facilitate development of its national economy – is interested in purchasing a stake in Six Flags, according to reports.
The US$2tn (€1.87tn, £1.59tn) PIF, is currently looking at taking up a stake in the Texas-based theme park operator, which is currently going through the process of expanding its business on a global scale.
According to Bloomberg, the kingdom has started negotiations with Six Flags to open its first park in Saudi Arabia, though an agreement is yet to be reached, with potential locations including Riyadh, Jeddah and the Red Sea resort.
Part of Saudi Arabia’s Vision 2030 plan – which like much of the Middle East is aiming to reduce reliance on oil – includes a relaxation of the rules on its entertainment sector in an area which traditionally has been ultra-conservative, with particularly harsh laws in relation to women. By 2030, Saudi Arabia wants to have more than 450 clubs providing a variety of cultural activities and events, with the aim of doubling household spending on recreation to 6 percent.
For Six Flags, a franchise model has been set up to support its upcoming parks, with the operator recently breaking ground on its first venture in the Middle East with Six Flags Dubai – the latest addition to the multi-billion dollar Dubai Parks and Resorts development.
Six Flags has also confirmed plans for two Vietnam locations, while further Asian expansion could well be on the way, with plans rumoured for the operator to enter the Malaysian market.
Coupled with those rumours, there has long been speculation that there could be a Six Flags addition to Iskandar’s land around Singapore, but neither the park nor the developer have confirmed this.
CEO John Duffey also recently revealed to Attractions Management plans to build “multiple” Six Flags parks in China in the next 10 years, all in partnership with real-estate company Riverside Investment Group.
Saudi Arabia Public Investment Fund Six Flags John Duffey Middle East theme parksSix Flags eyes further international expansion with Saudi Arabia plans
Saudi Arabia restoring historic palaces in effort to drive domestic tourism
KidzMondo to expand across Saudi Arabia after multi-million franchise deal is agreed
UAE’s first Dior Spa debuts in Dubai at Dorchester Collection’s newest hotel, The Lana
Europe's premier Evian Spa unveiled at Hôtel Royal in France
Clinique La Prairie unveils health resort in China after two-year project
GoCo Health Innovation City in Sweden plans to lead the world in delivering wellness and new science
Four Seasons announces luxury wellness resort and residences at Amaala
Aman sister brand Janu debuts in Tokyo with four-floor urban wellness retreat
€38m geothermal spa and leisure centre to revitalise Croatian city of Bjelovar
Two Santani eco-friendly wellness resorts coming to Oman, partnered with Omran Group
Kerzner shows confidence in its Siro wellness hotel concept, revealing plans to open 100
Ritz-Carlton, Portland unveils skyline spa inspired by unfolding petals of a rose
Rogers Stirk Harbour & Partners are just one of the names behind The Emory hotel London and Surrenne private members club
Peninsula Hot Springs unveils AUS$11.7m sister site in Australian outback
IWBI creates WELL for residential programme to inspire healthy living environments
Conrad Orlando unveils water-inspired spa oasis amid billion-dollar Evermore Resort complex
Studio A+ realises striking urban hot springs retreat in China's Shanxi Province
Populous reveals plans for major e-sports arena in Saudi Arabia
Wake The Tiger launches new 1,000sq m expansion
Othership CEO envisions its urban bathhouses in every city in North America
Merlin teams up with Hasbro and Lego to create Peppa Pig experiences
SHA Wellness unveils highly-anticipated Mexico outpost
One&Only One Za’abeel opens in Dubai featuring striking design by Nikken Sekkei
Luxury spa hotel, Calcot Manor, creates new Grain Store health club
'World's largest' indoor ski centre by 10 Design slated to open in 2025
Murrayshall Country Estate awarded planning permission for multi-million-pound spa and leisure centre
Aman's Janu hotel by Pelli Clarke & Partners will have 4,000sq m of wellness space
Therme Group confirms Incheon Golden Harbor location for South Korean wellbeing resort
Universal Studios eyes the UK for first European resort
King of Bhutan unveils masterplan for Mindfulness City, designed by BIG, Arup and Cistri
Rural locations are the next frontier for expansion for the health club sector
Tonik Associates designs new suburban model for high-end Third Space health and wellness club
Why shouldn’t sports facilities be beautiful? Across Asia, architects are creating landmark buildings for the public, discovers Christopher de Wolf
From Nobu Restaurants and Ian Schrager’s latest hotel to Imagination Playgrounds and the set design for The Rocky Horror Show, US architect and designer David Rockwell always keeps it fresh. He tells us the secrets of his creativity