A sports venue management arm from Surj + THC order dozens of helicopters and jets

Surj officially launches its sports management JV radia: The Public Investment Fund’s Surj Sports Investment partnered with ticketing giant Live Nation and sports developer Oak View to launch sports venue management joint venture, according to a press release. The venture will be led by CEO Xavier Campbell (LinkedIn), who will oversee its market entry and long-term growth strategy.

The details: Radia will offer end-to-end venue services spanning design review, operational planning, development oversight, operations and commercialisation, with a focus on digital capabilities, fan engagement and sustainable venues.

We knew this was coming: Surj was in discussions with Live Nation and Oak View regarding radia since April. The JV was expected to focus on promoting Saudi-hosted music events to global audiences and may extend to sports tournaments.

THC order dozens of helicopters and jets

PIF-owned helicopter operator The Helicopter Company placed orders for dozens of helicopters and jets. The company ordered eight Airbus H145 helicopters under a framework signed with Airbus in 2024, according to a press release. The aircrafts are scheduled for delivery between 2027 and 2028.

The original agreement covers up to 120 Airbus helicopters of various types over a three-to-five-year period. The H145 helicopters will support THC's expanding emergency medical services and other mission-critical operations across Saudi Arabia.

More in the pipeline: The operator ordered 11Leonardo AW139 helicopters under a framework agreement signed with Leonardo in 2024, according to a LinkedIn announcement. It also signed a letter of intent with Bombardier to place a firm order for 12 business jets, with options to acquire a further 48 aircraft, potentially expanding its fleet to 60 jets, according to another announcement.

Operator Kease joins Bonsai in the build

Kease will take exclusive control of operations at the Bonsai Residential Complex in Riyadh, managing the project on behalf of its owners while the complex is still under construction, the two companies said in a press release (pdf) announcing the partnership. The complex runs to roughly 219 units, a person familiar with the matter tells EnterpriseAM.

Built as a yield product rather than end-user housing, Bonsai targets investors looking to buy compact units and rent them out as serviced, hotel-style apartments, our source says. The pitch relies heavily on location, leveraging proximity to the Riyadh Metro and King Salman Park, which the press release flags as a draw for corporate and tourist demand.

Bringing the operator in before completion is the point. Kease integrating its management systems during construction means it will work with the developer on layouts, access systems, and features such as self-check-in, while providing investors with projected returns before handover. That’s a shake-up from the usual Saudi model in which an owner buys a unit and only then hires a manager.

The math: Our source put Saudi rental yields above 8% a year against roughly 4% on SAR deposits. That, they said, is high enough for developers to build to operate rather than sell.