Riyadh - Sharikat Mubasher: Qiddiya Investment Company, wholly owned by the Public Investment Fund (PIF), signed a memorandum of understanding (MoU) with the French Government to explore developing a new entertainment-led, mixed-use destination in the European country.

The MoU marks the beginning of a phase of joint work to define the project’s scope, development model, and contractual framework, in accordance with applicable procedures and approvals in France, the Saudi company stated in a press release yesterday.

The MoU was among several agreements signed in conjunction with the official visit of Prince Mohammed bin Salman, Crown Prince and Prime Minister, to France.

Leveraging the capabilities and experience of Qiddiya Investment Company, the project reflects the company’s evolution as a Saudi national brand contributing to the creation and development of entertainment experiences while expanding its global presence.

The new entertainment destination will introduce Qiddiya’s Power of Play philosophy, expanding the company’s experience and partnerships and strengthening the presence of the Saudi model in global markets.