UK secures $700M financing deal for Saudi Arabia's Six Flags Qiddiya City
The UK has secured a major financing deal for Saudi Arabia’s Six Flags Qiddiya City theme park. UK Export Finance (UKEF) has provided a $700 million facility, marking its largest Murabaha financing to date. The agreement also represents the agency’s first such deal in the region. The financing package is tied to the project’s use of British suppliers for goods and services. UKEF’s support aims to open doors for UK exporters in Saudi Arabia’s growing infrastructure sector, backed by the Public Investment Fund (PIF). Tim Reid, UKEF’s Chief Executive, highlighted the deal as a way to create new business opportunities for British firms. He also noted that it showcases UKEF’s ability to secure innovative funding sources.
Crédit Agricole CIB led the arrangement as the exclusive ECA Coordinating Bank and Mandated Lead Arranger. HSBC and BNP Paribas joined as co-financiers. The deal was further strengthened by reinsurance from Atradius Dutch State Business, SACE, and Euler-Hermes.
Oliver Christian, His Majesty’s Trade Commissioner for the Middle East and Pakistan, pointed to the broader trade relationship. UK-Saudi bilateral trade exceeded £17 billion last year. He described the financing as a strategic win for British exporters looking to expand in the region. The $700 million facility will fund key elements of Six Flags Qiddiya City, one of Saudi Arabia’s flagship entertainment projects. UK suppliers now have a direct route to participate in its development. The deal also reinforces UKEF’s role in supporting large-scale international investments.
