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Saudi Investment Fund Signs Agreement with International Company to Develop Qiddiya Park

Khatib addressing the Saudi Future of Entertainment Conference held in Los Angeles on Wednesday (Asharq Al-Awsat)
Khatib addressing the Saudi Future of Entertainment Conference held in Los Angeles on Wednesday (Asharq Al-Awsat)
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Saudi Investment Fund Signs Agreement with International Company to Develop Qiddiya Park

Khatib addressing the Saudi Future of Entertainment Conference held in Los Angeles on Wednesday (Asharq Al-Awsat)
Khatib addressing the Saudi Future of Entertainment Conference held in Los Angeles on Wednesday (Asharq Al-Awsat)

Saudi Arabia’s Public Investment Fund (PIF) signed an agreement with Six Flags – the world’s leading international amusement park company - to develop and design an amusement park in the Qiddiya area, which is set to open in 2022.

The General Entertainment Authority also signed five agreements with US corporations and companies, including National Geographic and IMG, on the sidelines of the Saudi Future of Entertainment Conference held in Los Angeles on Wednesday.

The development of the Qiddiya Park falls within the Kingdom’s Vision 2030, which aims to enhance the culture and entertainment sector and build a world-class entertainment environment in the Kingdom by attracting local and international investors and partnering with international entertainment companies.

“Qiddiya, a key project within the Kingdom’s entertainment sector, will play an important role in the development of the Kingdom of Saudi Arabia’s economy and the realization of the ambitions of Vision 2030,” a statement issued by the Saudi Public Investment Fund said.

“The first Six Flags-branded amusement park in the Kingdom forms another part of the development of the sector which will help create jobs and opportunities for Saudi young people,” the statement added.

Michael Reininger, Chief Executive of Qiddiya, commented on the signing of the agreement, saying: “By partnering with a global leader in this sector, we know that we are going to deliver something exceptional that will enrich the daily lives of those living here. With nearly two-thirds of the Saudi population under the age of 35, there is a huge appetite in the Kingdom for amusement parks such as this one, as well as the other sporting and cultural facilities that Qiddiya will offer.”

The President of Six Flags International Development Company, David McKillips, underlined “great potential in the Saudi Arabian market”, noting that he looked forward to “collaborating with PIF to create a world-class entertainment destination for Saudi’s young and dynamic population.”

“Saudis spend more than $20 billion on foreign tourism and recreation each year and the next goal is to make them spend the money inside Saudi Arabia by nationalizing the entertainment sector,” said Ahmad al-Khatib, head of the Saudi General Authority for Entertainment.

Khatib described the Kingdom as a “country of opportunities,” pointing out that 2,200 events were held in 2017, compared to 500 events before 2016.

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Gulf

Saudi Leadership Condoles Governor General of Canada over School Shooting

Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman (SPA)
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Saudi Leadership Condoles Governor General of Canada over School Shooting

Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman (SPA)
Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman (SPA)

Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud sent a cable of condolences to Governor General of Canada Mary Simon over the deadly school shooting in Western Canada.

The Saudi King condemned the heinous criminal act and expressed to the Governor General, the families of the victims, and the friendly people of Canada his deepest condolences and sincere sympathy, wishing the injured a speedy recovery.

Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, sent a similar cable of condolences to the Governor General.

Gulf

Saudi Health Minister: We Act Proactively on Health Risks

Saudi Health Minister: We Act Proactively on Health Risks
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Saudi Health Minister: We Act Proactively on Health Risks

Saudi Health Minister: We Act Proactively on Health Risks

Saudi Arabia’s Cabinet, chaired Tuesday by Custodian of the Two Holy Mosques King Salman bin Abdulaziz, approved the formation of a permanent committee to oversee all matters related to asbestos and ensure enforcement of its ban, marking a new step in public health and regulatory oversight.

Saudi Health Minister Fahad Al-Jalajel told Asharq Al-Awsat that the Kingdom approaches health risks with a proactive strategy grounded in clear policies and long-term planning.

“Any risk we detect affecting citizens, the government works to develop the necessary tools to avert it and to continue enhancing quality of life,” Al-Jalajel said, citing previous announcements including a national drowning prevention policy and a strategic drug policy.

Saudi action on asbestos dates back years, and the decision to establish a monitoring committee follows earlier Cabinet rulings. Decisions numbered 1419 and 1422 halted the use of asbestos, barred its inclusion in official specifications, and banned its import, export, and manufacture.

The measures also mandated the replacement and safe disposal of asbestos in buildings and water networks, alongside continued studies due to its health and environmental hazards.

Scientifically, asbestos refers to a group of naturally occurring mineral fibers once widely used commercially and, in some cases, still in use. Exposure can be fatal, affecting workers and others who come into contact with the fibers.

The material gained commercial value for its exceptional tensile strength, low heat conductivity, and relative resistance to chemical damage. It has been used for insulation in buildings and in products such as roofing sheets, water supply pipes, fire blankets, plastic fillers, medical packaging, vehicle clutches, and brake linings.

There are six main forms of asbestos, with chrysotile, or white asbestos, among the most widely used today. The World Health Organization has concluded that all forms of asbestos cause cancer. It also links asbestos exposure to chronic respiratory diseases.

Because asbestos has been embedded in construction materials, those involved in building, maintaining, or demolishing affected structures may face risks even decades after installation.

WHO assessments classify all six major forms of asbestos as carcinogenic to humans. Exposure, including to chrysotile, is associated with cancers of the lung, larynx, and ovary, as well as mesothelioma, a cancer of the pleural and peritoneal linings.

Clear scientific evidence also shows it causes chronic respiratory diseases such as asbestosis and other severe lung damage.

The World Health Organization estimates that about 125 million people worldwide are currently exposed to asbestos at work. More than 107,000 people die each year from lung cancer, mesothelioma, and asbestosis linked to occupational exposure.

Globally, asbestos is responsible for more than 200,000 deaths annually, according to the WHO, and accounts for roughly one-third of occupational cancer deaths. Thousands more fatalities each year are attributed to domestic exposure.

As of 2024, 50 countries had banned asbestos. In others, uncertainty remains amid insufficient and incomplete data.

 

Gulf

SDRPY Hosts Yemen Partners Group with UN and International Participation

Officials are seen at the SDRPY-hosted meeting in Riyadh. (SPA)
Officials are seen at the SDRPY-hosted meeting in Riyadh. (SPA)
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SDRPY Hosts Yemen Partners Group with UN and International Participation

Officials are seen at the SDRPY-hosted meeting in Riyadh. (SPA)
Officials are seen at the SDRPY-hosted meeting in Riyadh. (SPA)

The Saudi Program for the Development and Reconstruction of Yemen (SDRPY) hosted in Riyadh on Wednesday a meeting of the Yemen Partners Group (YPG), co-chaired by the Yemeni government, United Kingdom, and World Bank, with the participation of the United Nations and international organizations.

Yemeni Prime Minister and Minister of Foreign Affairs and Expatriates Dr. Shaya Mohsin Zindani; UN Secretary-General’s Special Envoy for Yemen Hans Grundberg; UN Resident Coordinator and Humanitarian Coordinator in Yemen Julien Harneis and Saudi Ambassador to Yemen and SDRPY Supervisor General Mohammed bin Saeed Al Jaber, as well as a number of ambassadors, representatives of international organizations, and donor entities attended the meeting.

Zindani expressed confidence in the new government and its clearly defined priorities that it will work to implement, which will help achieve stability and economic recovery.

He stressed the government’s aim to maximize benefit from the vital projects and initiatives provided by Saudi Arabia through the SDRPY, which offers important support for basic sectors and for boosting development efforts across Yemen.

Zindani expressed his appreciation to Saudi Arabia for its continued support to Yemen, commending the level of cooperation with the SDRPY and its efforts in supporting and empowering national institutions.

For his part, Grundberg emphasized the importance of the development projects provided by the Kingdom, particularly at this stage, noting positive indicators in Yemen, especially improvements in energy-sector stability.

Governor of the Central Bank Ahmed Ghaleb reviewed the bank’s priorities, stressing its commitment to transparency, the need to combat inflation, and the importance of international coordination and support to address challenges.

Al Jaber underscored the importance of continuing joint efforts to overcome obstacles facing peace and development in Yemen under the leadership of the Yemeni government.

The meeting is an important opportunity to learn about the priorities of the government and Central Bank, strengthening coordination to ensure that development and financial support is directed efficiently and effectively, and to assist donor entities and international organizations in aligning their interventions with the government’s priorities, he added.

The meeting reviewed a package of Saudi development projects worth SAR1.9 billion provided to Yemen in January, which helped boost energy-sector stability through the fuel derivatives grant, ensuring the continued operation of hospitals and vital service facilities.

It reviewed other development projects and initiatives scheduled for delivery during the coming period.