Key takeaways
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- Universal Studios is in early-stage planning for a theme park in Saudi Arabia, likely via a licensing deal.
- Financing could come from a Saudi government-backed entity, limiting Comcast’s upfront capital risk.
- The site under consideration is Qiddiya, a massive entertainment hub near Riyadh.
- The move would pit Universal directly against Disney, which is building a park in Abu Dhabi.
- Any park would likely open in the 2030s and be a multibillion-dollar project.
What Happened?
Comcast’s Universal Studios is conducting initial concept work for a potential theme park in Saudi Arabia, according to people familiar with the matter. The project would likely be structured as a licensing arrangement, similar to Disney’s Abu Dhabi deal, with a Saudi government-backed entity providing financing.
Comcast CEO Brian Roberts recently visited Saudi Arabia and toured Qiddiya, a rapidly expanding entertainment megaproject southwest of Riyadh. The location already hosts or is developing attractions including Six Flags, a Dragon Ball Z park, and multiple sports and water parks.
Universal has not finalized a deal, and construction — if approved — would not be completed until the 2030s.
Why It Matters?
This underscores how Middle Eastern sovereign capital is reshaping global entertainment economics. Rather than deploying their own balance sheets, US media companies are increasingly licensing brands to state-backed developers, generating high-margin, low-risk growth.
For Comcast, theme parks are among its most profitable businesses, and international expansion via licensing improves returns without long payback periods. Strategically, it also signals an arms race with Disney, which is using the same model to lock up prime tourism hubs in the region.
What’s Next?
Universal must finalize financing, licensing terms, and regulatory approvals — including navigating cultural and political sensitivities that have already drawn criticism for Disney. If completed, the Saudi park would cement the Middle East as the next major battleground for global theme park operators and further tilt growth toward asset-light, sovereign-backed expansion models.
