Saudi Arabia has long been synonymous with opulent wealth and awe-inspiring real estate developments.
However, recently the kingdom aims to flip the property world on its head and look to embrace a new technology that’s poised to revolutionise the real estate industry.
An unusual mega-project will feature branded real estate projects which will include emoji and Smurf characters, taking their towering skyscrapers and sprawling properties to a new height with a world-class urban experience.
Saudi Arabia real estate developer, Aqaratic, has signed this new deal with Egeez Inc at a sum of £791.2 million ($1 billion) that will bring a new level of immersive lifestyle experiences to visitors with an entertainment-themed property developments launch.
The deal will launch Egeez World Saudi Arabia in Riyadh and aims to redefine urban communities by leveraging intellectual property (IP)-themed branded real estate to the Kingdom.
This new deal will be a number of other initiatives that aim to align with Saudi Vision 2030 which “creates a thriving economy where everyone has the opportunity to succeed”.
It’s spearheaded by Crown Prince Mohammed bin Salman (MBS) and looks to put Saudi Arabia on the global map when it comes to tourism, a diversified economy and enhancement of the quality of life for citizens through world-class urban experiences.
This new initiative is designed to captivate nostalgic fans while also elevating the Kingdom as a leader in mega-projects and entertainment.
Nathen Mazri, Geez World founder, is known to be a trailblazer when it comes to the entertainment IP-licensing world with IP examples in the UK including Nickelodeon Land, Peppa Pig World and the World of Jumanji.
Mazri has set his sights on Saudi Arabia and is looking to bring major studios including content owners into the region’s real estate market expanding Egeez World in the rich nation.
Other examples of Egeez World’s expansion in Saudi Arabia include developments like the Six Flags theme park, Qiddiya’s performing arts hub, the Six Flags theme park, and licensed Dragon Ball Z attractions.
Ensuring the success of these ambitious Saudi Arabian projects will see the expertise in international development and asset management from Walid Al Mahmoud, CEO of Aqaratic, alongside CIO Fadi Elmasri.
These experts will look to restructure urban living in Saudi Arabia through themed, innovative, and mixed-use developments that’ll leverage globally recognised entertainment icons including The Smurfs and emojis.
Mazri will serve as the creative force behind this mega project with Egeez World bringing its first-in-industry approach to licensed, themed real estate.
Egeez World will oversee brand governance, aligning IP, plan experiences, manage royalties and represent exclusively world-famous trademark brands.
These brands will include Emoji, the Smurfs, and the most viral sensation, Youtooz Collectables with gaming partners and major Hollywood studio execs included too.
The official signing ceremony took place on November 14 and was held at Cityscape Global in Riyadh.
