Universal Studios Plans New Theme Park in Saudi Arabia, Targeting Completion in 2030s

Universal Studios is in the early planning stages of constructing a new theme park in Saudi Arabia, a move that could position it as a potential competitor to Walt Disney in the rapidly growing Middle Eastern market.

According to sources familiar with the matter, Universal Studios, owned by Comcast, has begun preliminary concept design work for the project. The venture is expected to be funded by a Saudi government-backed entity as part of a licensing partnership with Universal Studios.

Earlier this year, Walt Disney signed a similar agreement to develop a new theme park in Abu Dhabi. While Universal Studios has yet to finalize partnership details for the Saudi project, the multibillion-dollar investment is projected for completion in the 2030s.

Wealthy Middle Eastern nations, seeking economic diversification away from oil dependence, are increasingly betting on tourism anchored by iconic attractions. Walt Disney's Abu Dhabi park will be located on an island that also hosts a Formula 1 racetrack, Ferrari World, Warner Bros. World, and SeaWorld.

Sources indicate that Comcast CEO Brian Roberts visited Saudi Arabia last month for an investment conference and toured Qiddiya, a massive entertainment and sports complex. The Universal Studios park is likely to be situated within Qiddiya.

Located about 40 minutes southwest of Riyadh, Qiddiya will soon open a Six Flags theme park this month, with a Dragon Ball Z-themed park and a water park also under construction.

Comcast is aggressively expanding its high-margin theme park business, which outperforms other segments of NBCUniversal. In May, the company opened its "Epic Universe" park in Orlando, Florida, significantly boosting its ability to compete with Walt Disney for tourist spending.

Universal Studios currently operates parks in Orlando, Los Angeles, Singapore, Beijing, and Osaka, Japan. Additional projects include a children-focused mini-park in Texas and a full-scale park under development in the UK.

While Universal owns franchises like "Jurassic Park," "How to Train Your Dragon," and classic monster series, its existing parks also feature licensed IP such as "Harry Potter" and "Nintendo." It remains unclear whether these popular franchises will be incorporated into the Saudi park.

Developing theme parks in the Middle East presents challenges, including extreme heat that may require nighttime operations or indoor facilities. Walt Disney faced criticism for partnering with Abu Dhabi due to the emirate's stance on issues like LGBTQ+ rights that conflict with Western values.

However, the region holds strong appeal for U.S. entertainment companies, as these partnerships typically require no upfront capital while offering revenue potential from opening day—unlike company-owned parks that often take years to turn profitable.

Universal Studios previously attempted to enter the Middle East market in 2008 with the "Dubai Universal Studios" project, which stalled during the global financial crisis and was ultimately canceled, leaving only an ornate entrance archway as a remnant.