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The Sports Ministry pitched 36 potential investments at the Sports Investment Forum (SIF), including four state-owned sports assets across four major cities and another 32 assets to develop sports club facilities and services, the ministry told Aleqitisadiah.
The state-owned assets include a 115.5k sqm plot near Taif’s King Fahd Stadium, a 40k sqm hospitality site at the King Abdulaziz Sports City in Mecca, a 29.3k sqm stretch next to Medina’s airport, and a 15.8k sqm commercial space near Jeddah’s King Abdullah Sports City. The remaining 32 assets are spread across five regions — six in the central region, five in the west, seven in the east, nine in the north, and five in the south.
The Kingdom is looking to unlock private sector investments to shore up investment ahead of the 2034 FIFA World Cup, showcasing available investment and equipping investors with all “available information” in a bid to stoke appetite, Director of Sports Investment Development at the Investment Ministry Bassem Ibrahim told Asharq Buisness (watch, runtime: 1:36).
What is being showcased? Potential investments include everything from sub-SAR 1 mn tech plays to infrastructure projects worth up to SAR 80 mn, leaving room for private developers to build residential zones, hotels, fan areas, and training camps surrounding state-funded facilities, Ibrahim added.
Some are already buying in: Rafea Development is targeting real estate development investments worth some SAR 1.8 bn (USD 480 mn) over the next two years as it looks to capitalize on a 360% demand spike for sports centers over the past year, CEO Rafi Al Ghamid told Asharq Business. Rafea will set up a dedicated subsidiary dubbed R Sports Dev which will focus on developing sports-related real estate, expecting to raise the share of sports assets to account for 35% of its total portfolio, added Al Ghamdi.
DATA POINT- The sports sector’s market value reached SAR 32 bn in 2024, adding SAR 5 bn in the last six years while aiming to hit SAR 80 bn by 2030.
ALSO- SIF saw the launch of the Sikka Sports Investment Company, which aims to invest someSAR 50 mn into local sports projects. Meanwhile, SLC Consultation signed an MoU with Switzerland-based Match World Group to cooperate on local sports projects, in addition to an investment agreement with WAALLI China aimed at developing air domes.
