Saudi startup signed up to develop aquapark projects

• Ministry hires Nowaar Entertainment
• First aquapark scheduled for 2025
• Likely to be part of Qiddiya plan

Saudi Arabia’s Ministry of Investment has signed an agreement with startup Nowaar Entertainment to develop a series of aquaparks. 

The first aquapark will be operational in Riyadh in 2025, the ministry said on X, formerly Twitter. 

Nowaar will “develop a number of entertainment and water cities in the kingdom”, in cooperation with the General Entertainment Authority, it said. 

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Nowaar Entertainment, which is based in Riyadh, did not respond to requests for comment but the aquaparks appear to be part of Qiddiya’s planned water parks. 

The giga-project, owned by the Public Investment Fund, said in May that next year it will open Aquarabia, the first water park in Saudi Arabia, and the first Six Flags amusement park outside North America. 

It was also announced last month that Qiddiya, a Disneyland-like entertainment city being built outside Riyadh, would absorb the giga-project entertainment developer Seven, which is to open a series of centres in remote parts of the country. 

• Largest water park in Middle East to open in Qiddiya next year
• PIF merges companies in sign of giga-project shake-up
• Seven plans entertainment sites in remote parts of Saudi Arabia

PIF is trying to streamline projects as it manages cashflow problems in the light of oil prices below Saudi Arabia’s breakeven price of around $96 per barrel, low foreign investment and rising costs. 

The giga-projects have been valued at over $1.25 trillion, including around $500 billion for the futuristic city Neom. 

Nowaar Entertainment develops and invests in events and audiovisual content and has about 50 employees.