A super theme park in Arabia, Universal Studio is thinking about it

Universal Studios is in the early planning stages of building a new one theme park in Saudi Arabia opening up to a potential rivalry with Disney in the rapidly expanding market of Middle East. He writes it Wall Street Journal which cites internal sources familiar with the dossier.

The unity of Comcast would be working on the first concepts of the project, which could be financed by an entity supported by Saudi government within the scope of a licensing agreement with Universal. Disneymoreover, signed a similar agreement at the beginning of this year for the creation of a new one vain ame inverty the theme. Universal, however, has not yet finalized a deal for the Saudi projectwhich could be worth several billion dollars and is unlikely to be completed before 2030.

Economic diversification and tourism

This negotiation fits into the broader framework of the efforts of Richest countries in the Middle East per diversify their economies and reduce dependence on petrolium. Il turismo linked to great attractions, along with the sport and to the world gamingrepresents one of the best opportunities.

Projects in the Middle East: Abu Dhabi and Qiddiya

Il Disney parco in Abu Dhabi will be built on an island that already hosts facilities dedicated to Formula Oneat the Ferraria Warner Bros e SeaWorld. According to the WSJthe CEO of ComcastBrian Roberts, visited theSaudi Arabia last month at an investment conference and stopped in Qiddiya entertainment and sports megaprojectwhere the Universal park. A Qiddiya a new one is scheduled to open this month parco Six Flagswhile a theme park dedicated to ‘Dragon Ball Z’ and a water park. The city is located about 40 minutes drive southwest of Riad.

The expansion strategy of Comcast and Universal

Comcastwhich manages the division that controls i Universal Studios parks in the world, is aggressively expanding this business also by virtue of the higher profit margins compared to other activities of the media division NBC-Universal. And the opening, last May, of Epic Universe a Orlando significantly strengthened the ability to compete with Disney to attract visitors. Universal manages theme parks a Orlando, Los Angeles, Singapore, Beijing e Osaka. They are also in the process of developing a smaller facility for children Texas and a large park in the United Kingdom. Everything in addition to the various ‘franchise owners‘ related to products such as Jurassic Park, How to Train Your Dragon and the classic Universal ‘monsters’. They are already existing parks that they use external licenses as in the cases of Harry Potter e Nintendo. It is unclear whether these properties would also be included in an eventual one Saudi park.

Challenges and previous attempts in the Middle East

The construction of theme parks in the Middle Eastthe newspaper recalls, presents several complexitystarting from temperature elevatewhich impose evening opening hours or predominantly indoor facilities. After the announcement of parco in Abu Dhabi, Disney has been criticized for collaborating with a country that does not meet Western standards on issues such as LGBTQ+ rights. Universal had already attempted entry into the Middle East In the 2008starting the works of Universal Studios Dubailand. However, the project stopped at a large entrance arch, before the financing fell through during the global financial crisis. Now the time seems ripe for a new attempt.