Saudi investors to finance ‘first-of-its-kind’ theme park in Islamabad

Saudi investors will fund a theme park in Islamabad, Pakistan’s interior ministry said on Sunday, in what it called a “first-of-its-kind” as Pakistan strives to attract foreign investment and construct new infrastructure.

The declaration came after Prince Mansour bin Mohammed Al-Saud, chairman of the Saudi-Pakistan Business Council (SPBC), and Sohail Ashraf, chairman of the Capital Development Authority (CDA), signed a memorandum of understanding (MoU) in Lahore, a city in the east of Pakistan.

The declaration comes as efforts to boost economic connections between Pakistan and Saudi Arabia are on the rise, with real estate, infrastructure and property development showing up as promising sectors for cross-border investments.

The deal for Pakistan’s first theme park project was signed in Lahore at Qaddafi Stadium in the presence of Interior Minister Mohsin Naqvi.

Under the deal Saudi Arabian investors will invest in the theme park project in Islamabad, the interior ministry stated. “The theme park is to be provided by CDA with land.

Mohsin welcomed signing of the MoU and said that the infrastructure of Islamabad was being constructed on the pattern of most contemporary cities of the globe.

He was cited as saying that “there are also plans to have a roadshow in Saudi Arabia in the coming months on real estate.”

“The theme park will be a game changing project,” Naqvi remarked. “All possible facilities will be provided to Saudi investors.

Earlier this week, three days of Saudi–Pakistan Real Estate Exhibition was held in Lahore, eastern city of Pakistan, showcasing real estate investment potential in the Kingdom.