Saudi Arabia has launched a groundbreaking initiative to open three major sports facilities to private sector investment, marking a significant milestone in the Kingdom’s drive to modernize and commercialize its sports industry.
Announced by the Ministry of Sport, the Sports Facilities Investment Project will grant private investors access to King Abdullah Sports City and Prince Abdullah Al-Faisal Sports City in Jeddah, as well as King Abdulaziz Sports City in Makkah.
According to the Saudi Press Agency (SPA), the initiative offers renewable five-year contracts covering naming rights, venue leasing for non-match events, and agreements to manage, operate, and maintain the complexes. These efforts are in line with Vision 2030, Saudi Arabia’s strategy to diversify its economy and establish itself as a global hub for sports, tourism, and entertainment.
With preparations underway for the 2034 FIFA World Cup, the Kingdom is intensifying efforts to attract private capital into its growing sports economy. The project aims to introduce modern operational models to boost venue efficiency, elevate service quality, expand revenue streams, and enrich the fan experience.
Currently valued at $8 billion, Saudi Arabia’s sports industry is expected to grow to $22.4 billion by 2030, driven by investments in sports clubs, academies, facilities, and equipment. The government has already identified 20 high-priority investment opportunities worth up to $20 billion.
The upcoming World Cup is projected to further accelerate this growth, potentially drawing 10 million international visitors, creating 1.5 million jobs, and contributing $9–14 billion to the national GDP. The tournament will be held across 15 stadiums in cities such as Riyadh, Jeddah, Alkhobar, Abha, and the innovative NEOM city.
Interested investors can apply through the official “Furas” investment portal during the application period. Authorities have described the initiative as a strategic entry point into one of the Kingdom’s most dynamic and rapidly expanding sectors.
Source: Arab News
