Universal Studios is in the early planning stages of building a new theme park in Saudi Arabia, a move that could position Comcast’s entertainment arm in direct competition with Disney as global media companies race to tap the Middle East’s fast-growing tourism market, according to people familiar with the matter.
The Comcast-owned studio is conducting initial concept work on the project, which could be financed by a Saudi government-backed entity under a licensing arrangement with Universal. No final deal has been completed, and any park would likely take years to build, with an opening not expected until the 2030s. If finalized, the development would represent a multibillion-dollar investment and mark Universal’s most ambitious push yet into the region.
The plans come as oil-rich Gulf states accelerate efforts to diversify their economies, pouring money into tourism, entertainment and large-scale attractions. Disney earlier this year announced an agreement to develop a new theme park in Abu Dhabi, located on an island already home to Formula One racing, Ferrari World, Warner Bros. World and SeaWorld, underscoring the region’s growing appeal to U.S. entertainment giants.
Comcast Chief Executive Brian Roberts visited Saudi Arabia last month for an investment conference and toured Qiddiya, a massive entertainment and sports development southwest of Riyadh, where the potential Universal park would be located, according to people with knowledge of the visit. Qiddiya is rapidly emerging as a centerpiece of Saudi Arabia’s tourism ambitions. A Six Flags theme park is set to open there this month, while a Dragon Ball Z-themed park and a large water park are already under construction.
Comcast has been aggressively expanding its theme parks business, which delivers higher profit margins than much of NBCUniversal’s traditional media operations. The opening of Universal’s Epic Universe park in Orlando, Florida, in May significantly strengthened its competitive position against Disney in one of the world’s most lucrative theme park markets.
Universal currently operates major theme parks in Orlando, Los Angeles, Singapore, Beijing and Osaka, Japan, and is developing a smaller, child-focused destination in Texas as well as a full-scale park in the United Kingdom. Its parks draw on a mix of proprietary franchises such as Jurassic Park, How to Train Your Dragon and its classic monsters, alongside licensed properties including Harry Potter and Nintendo. It remains unclear which, if any, of those marquee brands would feature in a Saudi park.
Building theme parks in the Middle East presents unique challenges, including extreme heat that often requires attractions to operate late into the night or be heavily climate-controlled indoors. Disney also faced criticism after unveiling its Abu Dhabi project, with some activists objecting to working in a country that does not adhere to Western norms on issues such as gay rights.
Despite those concerns, the financial appeal is strong. Reaching audiences in a region where American entertainment companies have historically generated limited revenue is increasingly attractive, particularly when local partners shoulder much of the upfront capital. Disney has said its Abu Dhabi park will add to earnings from the day it opens, contrasting with company-owned parks that can take years to become profitable.
Universal’s interest in the region is not new. In 2008, the company broke ground on a Universal Studios Dubailand project, but the effort stalled after the global financial crisis cut off financing. Aside from a grand entrance arch, little was built, and the project was eventually scrapped. A successful Saudi venture would mark a dramatic return — and signal just how high the stakes have become in the global theme park race.
