The True Nature of the Franco-Saudi Relationship
Hedy Belhassine’s talent lies in this pivoting move: starting from a piece of celebrity gossip — a manga-themed park in the Paris outer suburbs — to climb, through historical capillarity, toward a far weightier question: the true nature of the Franco-Saudi relationship, and what it serves to conceal.
The rhetorical device is skilful. By exhuming the story of Gaith Pharaon — the Saudi financier who, in the 1970s, took over a struggling French industrialised-construction firm (a direct heir to the accelerated building effort at the University of Vincennes after May ’68), before stripping it of its substance, skimming commissions at every level, and then building on its ruins a doomed amusement park — Belhassine does not settle for a colourful anecdote. He raises an underlying, almost legal question: who owns that 55-hectare plot today? The Pharaon heirs, via trust structures, or genuinely the Belgian lawyer officially identified as its owner? We will likely never know — and that may be precisely the point.
The heart of the demonstration, however, lies in the contrast he draws between the smokescreen (the park, AlUla, the communications strategy) and the real stakes, carefully passed over in silence by official statements: the reshuffling of regional alliances (Ankara-Islamabad-Riyadh), the internal fragility of the Saudi regime vis-à-vis its neighbours, and tensions with the UAE. These are, ultimately, matters of security and sovereignty.
The final flourish — suggesting the real strategic stake of the Macron-MBS relationship might lie in Saudi financing of the Prometheus Plan, rather than a manga theme park — is admittedly speculative, and the author himself half-concedes as much (“let us allow ourselves to dream”). But the parallel with the Shah of Iran’s financing of the Eurodif nuclear programme in 1974 is not gratuitous: it reminds us that France has, in the past, already bet on foreign financing for a strategic infrastructure deemed vital — a bet that, as Belhassine notes with masterful understatement, “turned out badly, for reasons we all know.”






