ISLAMABAD: Saudi investors will finance a “first-of-its-kind” theme park in Islamabad, Pakistan’s interior ministry said on Sunday, as Pakistan seeks to attract foreign investment and develop new infrastructure.

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

The announcement follows growing efforts to strengthen economic ties between Pakistan and Saudi Arabia, with real estate, infrastructure and property development emerging as potential areas for cross-border investments.

Pakistan’s Interior Minister Mohsin Naqvi oversaw the signing of the agreement on Pakistan’s first theme park project at Qaddafi Stadium in Lahore.

“Under the agreement, investors from Saudi Arabia will invest in the theme park project in Islamabad,” the interior ministry said. “The CDA will provide the land for the theme park.”

Mohsin welcomed the signing of the MoU and said that Islamabad’s infrastructure was being developed along the lines of the world’s most modern cities.

“There are also plans to hold a roadshow in Saudi Arabia regarding real estate in the coming months,” he was quoted as saying.

“The theme park will prove to be a game-changing project,” Naqvi said. “Every possible facility will be provided to Saudi investors.”

Earlier this week, Pakistan’s eastern city of Lahore hosted a three-day Saudi–Pakistan Real Estate Exhibition, which highlighted real estate investment opportunities in the Kingdom.

Saudi Arabia has undertaken massive infrastructure expansion as part of its Vision 2030 initiative that is intended to cut the Kingdom’s reliance on oil by developing health, education, recreation, tourism and real estate sectors.

The Lahore exhibition provided a platform for investors, developers and industry representatives to explore business opportunities, showcase projects and discuss avenues for cooperation between the two countries.