KidzMondo has signed a franchise agreement with Abdul Rahman Saad Al-Rashid and Sons to build seven edutainment theme parks in Saudi Arabia with the first in Riyadh. The entire development will be carried out over the next ten years, at the cost of $133m (SR500m).
The franchise agreement was signed by Suleiman Bin Abdul Rahman Al-Rashid, CEO of Abdul Rahman Saad Al-Rashid and Sons and Ali Kazma, Chairman of Kidz Holding and founder of the KidzMondo concept.
The central idea of KidzMondo is to develop a small-scale city built for and ruled by children between the ages of 2 to 14. The miniature city has its own economy and even uses its own currency called Kidlar. The first branch is expected to open by Q1 2017 in Riyadh.
Ali Kazma said: "We have always regarded the GCC countries, especially Saudi Arabia, as a strategic market for our innovative educational and entertainment projects. We also expect to achieve great success through the signing of this agreement and entrance into the largest market of the Arab world. This step supports our plan for further deployment throughout various countries of the world – most particularly the Arab countries in the Arabian Gulf."
Suleiman Al Rashid said: "It is a great pleasure to work with Kidz Holding and to obtain the exclusive right of the KidzMondo franchise in Saudi Arabia. We were encouraged to launch this project by the remarkable success achieved by KidzMondo in other countries."
There are KidzMondo theme parks in several countries including Lebanon, Turkey and the UAE.
PR
16 July
