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Lagoona
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Local Name:
لاجـونـا
Budget:
5B
Announced:
2005
Construction Start:
Opening:
on hold
Area:
780 ha
Developer:
Emaar, The Economic City
Operator:
Consultants:
Contractors:
Other Suppliers:
  1. Hjalmar is offline Senior Park Investigator
    Join Date
    Mar 2020
    Posts
    23
    Currently K Max Cinema, Juman Kart, swimming pool and Mini Golf are active in the region with ticketing provided by Gantner Ltd.

    There is not yet a word on the following phase of construction which should include the Motor Park. I presume that this is either scrapped or at least on hold.

  2. CarlySX is offline themeparX Top Investigator
    Join Date
    Dec 2015
    Posts
    1,470
    In August it looked like the housing market was failing KAEC and the rulers were looking for ways to encourage local residents to buy up property.

    Saudi nationals can benefit from housing offers and real estate financing to buy constructed homes or residential land
    Saudi Arabia’s King Abdullah Economic City (KAEC) has inked a cooperation agreement with National Commercial Bank – the kingdom’s second-largest bank by market capitalisation – to provide financing solutions compatible with the provisions of the Islamic Sharia law.
    Real estate owners in KAEC can also benefit from the Ministry of Housing’s mortgage products, self-construction of homes, completion of construction of homes, and housing support, according to the state-run Saudi Press Agency.
    Perhaps the lack of news on the theme park and attractions front is due to this lack of interest in the housing market which is being used to fund the leisure developments?

    Source: https://www.constructionweekonline.com/business/266871-saudis-kaec-inks-deal-to-provide-financial-solutions-on-homes-land

  3. CarlySX is offline themeparX Top Investigator
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    Dec 2015
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    1,470
    The most up to date mention on the theme parks I can find is from April 2019. Does anyone know if these are still going ahead or if they are now being removed from the projects?

    The total investment in Lagoona District, the latest integrated leisure and entertainment component of King Abdullah Economic City (KAEC), is expected to reach SAR 18.5 billion ($5 billion), a senior company executive told Argaam.

    The 8-million square metre district will have 18 attractions, including two theme parks, a motor park and over 2,100 hotel rooms.

    Lagoona Motorpark, a component of the first phase of the district, will open in September this year, Mohammed S Ballout, senior director and head of Leisure and Retail Operations, KAEC, said in an interview on the sidelines of the "Theme parks and Entertainment Development Forum Middle East" in Dubai on Tuesday.
    This is the motorpark which was meant to open in September 2019 but I can't find that this opened either.



    Source: https://www.argaam.com/en/article/articledetail/id/604649

  4. Michael is offline themeparX Top Investigator
    Join Date
    Mar 2016
    Posts
    5,079
    According to King Abdullah Economic City's third quarter 2019 Investor Relations Presentation, they want to break ground on phase 1a of Lagoona by 2021. Also, "Lagoona Fun District" funding from the Public Investment Fund has been secured.

    Sources: https://www.kaec.net/wp-content/uploads/2019/12/EEC-Investor-Report-Q3-2019.pdf and https://www.kaec.net/wp-content/uploads/2018/11/EEC_Investor_Report_Q3_2018_F.pdf

  5. Michael is offline themeparX Top Investigator
    Join Date
    Mar 2016
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    5,079


    A destination focused on the Leisure & Domestic Tourists - Saudi families and youth.

    Creating active programs that engage a natural lagoon and waterfront, integrates wildlife & parks, resorts and attractions.

    Brining to life immersive experiences with theme parks, shopping, dining and entertainment united around a waterfront “LAGOONA BOARDWALK”
    Source: http://www.kaec.net/wp-content/uploads/2018/05/EEC%20IR%20Presentation%20Q4-2017.pdf

  6. A November 2016 interview with the project CEO mentions theme parks:

    This will boost another goal of Vision 2030, which is tourism development, he said.
    “We are building golf courses, theme parks, zoos, safaris,” KAEC CEO Fahd Al-Rasheed said, calling tourism “the most strategic sector” for the KAEC.
    Source:
    http://www.arabnews.com/node/1011786/business-economy


  7. King Abdullah Economic City (KAEC) has already achieved early fame through the great movie
    'Hologram for a King' starring Tom Hanks (shot in Morocco):




  8. HazelJune is offline themeparX Top Investigator
    Join Date
    Jan 2017
    Posts
    233
    The plan to build this multi-million dollar new city is still on track.

    In 2016 KAEC signed contracts with developers and service providers covering the full range of the city’s operations.
    “KAEC is continuing to grow and our development plan remains firmly on track,” said Fahd Al-Rasheed, group CEO and managing director of KAEC. “Our status as a privately-funded development has been an important factor in our performance and our strong cash position has allowed us to continue to invest steadily across our activities toward achieving KAEC sustainable development”.
    Source: http://english.alarabiya.net/en/business/economy/2017/02/05/King-Abdullah-Economic-City-development-plan-on-track.html

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