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Saudi Arabia’s $7B Dragon Ball Park; Syria’s Investment Reset; And Sawiris’ Swvl Bet
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Wednesday, August 26, 2026
Happy Wednesday everyone!
Saudi Arabia is taking its diversification strategy global, teaming up with France on a €6 billion Dragon Ball Z-themed entertainment project near Paris, backed by Qiddiya and expected to create 22,000 jobs. In Syria, Washington has removed the country from its state sponsors of terrorism list, potentially clearing a major obstacle for banks, businesses and billions of dollars in reconstruction investment. And in mobility, Swvl is getting a major vote of confidence from the Sawiris family, with Coefficient investing $10 million in the Dubai-based Nasdaq-listed company as part of a $13 million private placement.
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Saudi Arabia And France Plan €6 Billion Dragon Ball Z Theme Park Near Paris
What Is It About
France and Saudi Arabia have agreed to develop a €6 billion ($7 billion) Dragon Ball Z-themed amusement park near Cergy-Pontoise, northwest of Paris. Saudi entertainment and investment group Qiddiya will finance the project, which is expected to create around 22,000 jobs. The development will include three theme parks and is being positioned as one of Europe’s largest entertainment projects.
Why It Matters
The project highlights the growing economic ties between France and Saudi Arabia as Riyadh seeks to diversify beyond oil and expand its global entertainment footprint. For France, the investment reinforces its position as a destination for major foreign-funded developments. The project also reflects Saudi Arabia’s broader strategy of exporting its entertainment ambitions and building partnerships around major cultural and leisure attractions.
What’s Next
Construction is expected to take several years, with no opening date announced yet. Key details, including the final design and scope of the three theme parks, still need to be settled. The project follows discussions between President Emmanuel Macron and Crown Prince Mohammed bin Salman and could become a major tourism and entertainment destination near Paris.
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US Removes Syria From Terrorism Sponsor List, Clearing Major Investment Barrier
What Is It About
The United States has removed Syria from its list of state sponsors of terrorism, eliminating a major legal and compliance hurdle for foreign investors. The move follows Washington’s broader rollback of sanctions and closer ties with Syria’s new government. Damascus says the decision could unlock investment and help reconnect the country’s banks and businesses with the global financial system after nearly 14 years of war.
Why It Matters
The delisting could significantly improve Syria’s investment prospects by reducing the risks banks and multinational companies face when entering the market. Washington says US financial institutions can already provide services to Syrian banks, subject to sanctions compliance. Interest is emerging, with Bank of America exploring cooperation and Mastercard developing infrastructure for international payments alongside QNB and Syria’s central bank.
What’s Next
Syria will now seek to convert the policy shift into actual capital flows, targeting billions of dollars for reconstruction. Greater access to international banking and payment networks could make cross-border transactions easier and encourage companies to enter the market. However, investors will still assess political stability, remaining targeted US sanctions and Syria’s broader economic and regulatory environment before committing significant capital.
Sawiris Family-Backed Investor Bets $10 Million On Swvl In Fresh Nasdaq Funding
What Is It About
Coefficient LP, a Houston-based investment firm backed by Egypt’s Sawiris family, is investing $10 million in Dubai-based, Nasdaq-listed mobility startup Swvl as part of a $13 million private placement. The investment will make Coefficient Swvl’s largest institutional shareholder, while its founder and managing partner Abdalla Ali will join the company’s board. An existing shareholder is contributing the remaining $3 million.
Why It Matters
The investment represents a significant vote of confidence from a prominent regional investment family as Swvl works to strengthen its turnaround. Swvl will use the funds to accelerate its US expansion, launch lending for transport operators and partners, and bolster its balance sheet. Shares jumped roughly 50% following the announcement, reflecting investor optimism around the deal.
What’s Next
Swvl is expected to close the investment on August 27, issuing nearly 9 million Class A shares at $1.446 each. The company enters the deal with improving fundamentals, having returned to profitability in 2025 and continued strong revenue growth in 2026. The additional capital and stronger shareholder equity could also help Swvl manage previous Nasdaq compliance concerns as it pursues further growth.
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🦄 World of Startups
ChatFeatured, Canada-based AI startup, raised $2M in a pre-seed funding round from BY Venture Partners (UAE/Lebanon) and other global investors
Doctorbook, Syria-based healthtech platform, raised $16K in a pre-seed funding round from a group of angel investors, valuing the startup at $200K
Carbar, Australia-based car subscription platform, is merging with Carasti, UAE-based car subscription business operating across the UAE, Saudi Arabia, Thailand, and Singapore, at a combined pre-raise valuation of $74M
Fincart, Egypt-based eCommerce enablement platform, raised $2.8M in a seed funding round
