{"id":105418,"date":"2026-01-29T00:00:00","date_gmt":"2026-01-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2026\/01\/29\/this-morning-world-cup-stadiums-next-on-the-chopping-block\/"},"modified":"2026-01-29T00:00:00","modified_gmt":"2026-01-29T00:00:00","slug":"this-morning-world-cup-stadiums-next-on-the-chopping-block","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/01\/29\/this-morning-world-cup-stadiums-next-on-the-chopping-block\/","title":{"rendered":"THIS MORNING: World Cup stadiums next on the chopping block?"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, ladies and gents<\/strong>. Caution is the name of the game as we bid farewell to January, with the news cycle slowing to a near halt as companies and investors grapple with global and regional developments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a> It seems each new day brings more reports on gigaprojects slowing down<\/strong>. This time, the focus is on the Kingdom\u2019s 2034 Fifa World Cup stadium plans, with several venues reportedly put on hold, unnamed sources told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-28\/saudi-arabia-enters-new-era-of-restraint-on-megaproject-spend\" style=\"\">Bloomberg<\/a>. The government is reportedly shifting its approach, moving away from building eight brand-new stadiums towards refurbishing existing ones.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Which stadiums are we talking about?<\/strong> The Line\u2019s planned 350-m-high stadium and a proposed venue in Jeddah\u2019 Qiddiya Coast are likely to be scrapped, the sources said. However, Prince Mohammed bin Salman Stadium in Riyadh\u2019s Qiddiya is apparently moving ahead as planned. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/04\/shifting-the-gigaproject-focus\/#:~:text=%E2%80%9Ccomprehensive%20review%E2%80%9D%20under%20CEO%20Aiman%20Al%20Mudaifer\" style=\"\">\u201ccomprehensive review\u201d<\/a><\/strong><strong> drive gathered pace earlier this year<\/strong>, with the deferral of the <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/25\/lucid-wants-to-cut-china-out-of-ev-supply-chain\/\" style=\"\">2029 Asian Winter Games<\/a>, media reports on cuts to Neom\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/26\/rethinking-neom\/\" style=\"\">The Line<\/a>, and, more recently, Riyadh\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/28\/gigaproject-delays-reportedly-starting-to-hit-the-capital\/\" style=\"\">The Mukaab<\/a> being reportedly put on hold. Reassessing spending priorities is intended to support the Kingdom\u2019s transformation strategy, which now expands beyond flagship engineering gigaprojects to other <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/12eda168-6719-4815-a431-478f2a4e9dc4\/fii9%25e2%2580%2599s-day-two-keeps-the-momentum-going\" style=\"\">\u201cecosystems,\u201d<\/a> including AI and tourism \u2014 in line with what Finance Minister Mohammed Al Jadaan described at Davos as delivering \u201coptimal impact at the right cost.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- The weather is moody today<\/strong>, shifting between fog and rain across Riyadh, Makkah and the Eastern Province. <\/p>\n<ul>\n<li>Riyadh: 21\u00b0C high \/ 13\u00b0C low.<\/li>\n<li>Jeddah: 30\u00b0C high \/ 22\u00b0C low.<\/li>\n<li>Makkah: 32\u00b0C high \/ 23\u00b0C low.<\/li>\n<li>Dammam: 24\u00b0C high \/ 15\u00b0 low<\/li>\n<\/ul>\n<p class=\"tag-border-left\"> Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a>  BUSINESS \u2014 <\/strong><strong>Visa has split its Middle E<\/strong><strong>ast operations into two distinct clusters to <\/strong><strong>comply with Saudi Arabia\u2019s regional HQ rules<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/01\/28\/2026\/visa-splits-middle-east-operations-to-comply-with-saudi-hq-rule\" style=\"\">Semafor<\/a> reports. The new Riyadh-based office will now govern Saudi, Bahrain, and Oman, while Dubai remains a hub for the UAE, Kuwait, and Qatar, both falling under Central and Eastern Europe, Middle East, and Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s an interesting approach<\/strong>. The RHQ policy was designed to shift regional headquarters away from Dubai and towards the Kingdom. Yet, some companies appear to be adopting a dual-hub approach \u2014 maintaining operations in both locations rather than relocating \u2014 taking on higher overheads, as functions are duplicated across two headquarters instead of being consolidated, in exchange for maintaining a presence in both markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Visa opened its regional headquarters in Riyadh\u2019s King Abdullah Financial District <a target=\"_blank\" href=\"https:\/\/sharikatmubasher.com\/news\/article\/21397403\/visa-opens-regional-headquarters-in-kafd\" style=\"\">in 2024<\/a> and <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/10\/visa-taps-ali-bailoun-to-lead-its-newest-region\/\" style=\"\">last month<\/a> appointed Ali Bailoun as group country manager to lead the region. The company is among more than 700 multinationals that have relocated to comply with Saudi Arabia\u2019s regional headquarters program, which requires firms to establish a local HQ to be eligible for government contracts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Goldman Sachs has formed a senior executive team to strengthen its Middle East <\/strong><strong>presence<\/strong>, targeting sovereign wealth funds and asset management to deepen ties with regional investors and governments, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/banks\/116947\/%D8%BA%D9%88%D9%84%D8%AF%D9%85%D8%A7%D9%86-%D9%8A%D8%B4%D9%83%D9%84-%D9%81%D8%B1%D9%8A%D9%82%D8%A7-%D9%85%D9%86-%D9%83%D8%A8%D8%A7%D8%B1-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81%D9%8A%D9%8A%D9%86-%D9%84%D8%AA%D8%B9%D9%85%D9%8A%D9%82-%D8%A8%D8%B5%D9%85%D8%AA%D9%87-%D9%81%D9%8A-%D8%A7%D9%84%D8%AE%D9%84%D9%8A%D8%AC\/\" style=\"\">Asharq Business<\/a> reports, citing people familiar with the matter. The team comprises Anthony Gutman, co-CEO of Goldman Sachs International; Zaid Khaldi, CEO for MENA; Mark Nachman, global head of asset and wealth management; and Jared Cohen, head of global affairs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> AVIATION \u2014 Budget carrier <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.flyadeal.com\/\" style=\"\">flyadeal<\/a><\/strong><strong> is targeting triple-digit net income within <\/strong><strong>three years, <\/strong>CEO Steven Greenway told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/companies\/116875\/%D8%B7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A3%D8%AF%D9%8A%D9%84-%D8%AA%D8%B1%D9%81%D8%B9-%D8%A7%D9%84%D8%B3%D8%B9%D8%A9-%D8%A7%D9%84%D8%AA%D8%B4%D8%BA%D9%8A%D9%84%D9%8A%D8%A9-%D9%88%D8%AA%D8%AA%D8%AC%D9%87-%D9%84%D9%85%D8%B6%D8%A7%D8%B9%D9%81%D8%A9-%D8%A3%D8%B1%D8%A8%D8%A7%D8%AD%D9%87%D8%A7\/\" style=\"\">Asharq Business<\/a> without revealing specific figures. Flyadeal is executing a 35% capacity increase for 2026, aiming to transport 12-13 mn passengers this year, with annual growth of 20-30%, Greenway said. The airline also intends to increase Jeddah-Riyadh frequency from 22 to up to 27 daily flights. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New jets inbound: <\/strong>The airline operates 44 aircraft, with the 45th due next week, and plans to add one aircraft per month over the next four years. Its fleet currently consists of Airbus A320s, with A321s joining next year and A330s the year after.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Data point<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SAR 12.5 bn \u2014 that\u2019s the total value of consumer spending via point-of-sale<\/strong><strong> (PoS) in the <\/strong><strong>Ki<\/strong><strong>ngdom in the week ending 24 January<\/strong>, down 10.6% w-o-w, according to the Saudi Central Bank\u2019s latest weekly report <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/1\/1118.pdf\" style=\"\">(pdf)<\/a>. Spending has cooled following the holiday surge at the start of the year, with the number of transactions also dipping 9.7% w-o-w to 213.6 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Major sectors saw significant weekly declines in total value<\/strong>, including restaurants & caf\u00e9s (down 18.5%), apparel & accessories (down 19.7%), and hotels (down 23.0%).<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel and Hassan Allam Properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\">logistics<\/a> industry, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\">MENA <> India<\/a> corridor?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The big story abroad <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump is doubling down on threats to strike Iran,<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-says-it-didnt-request-negotiations-with-us-foreign-minister-says-2026-01-28\/\" style=\"\">saying<\/a> on Tuesday that another \u201carmada\u201d is heading toward the country and hoping that Tehran will \u201cmake a deal\u201d with Washington before an attack begins. The threats sent Brent and US crude up roughly 1% to a <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-prices-mixed-us-supply-worries-linger-after-winter-storm-2026-01-28\/\" style=\"\">four-month high<\/a>, with oil prices also propped up by a weakening USD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We want no part in this:<\/strong> Crown Prince Mohammed bin Salman <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2499493\" style=\"\">told<\/a> Iran\u2019s President Masoud Pezeshkian over the phone that the Kingdom will not allow its airspace or territory to be used for military actions against Tehran or any other party.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big Tech earnings also dominated the news<\/strong>, with Meta, Microsoft, and Tesla <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/01\/29\/cnbc-daily-open-fed-expectedly-keeps-rates-steady-the-intrigue-was-elsewhere.html\" style=\"\">all beating net<\/a><a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/01\/29\/cnbc-daily-open-fed-expectedly-keeps-rates-steady-the-intrigue-was-elsewhere.html\" style=\"\">income and revenue expectations<\/a>. Meta reported a stronger forecast for first-quarter revenue, pushing its shares up 10% in extended trading, while Microsoft fell over 6% on disappointing cloud growth. Meanwhile, Tesla\u2019s <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-28\/tesla-posts-fourth-quarter-profit-that-beats-expectations\" style=\"\">plans to spend USD 20 bn<\/a> this year to build AI capabilities sent the stock up some 1% despite the company logging its first annual decline in revenue last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- The UK is seeking a reset with China amid tensions with the US<\/strong>, with Prime Minister Keir Starmer <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/01\/28\/2026\/starmer-brings-uk-executives-on-china-visit\" style=\"\">to be joined by execs from top banks<\/a> and manufacturers when he lands in China today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: Visa splits Middle East operations between Riyadh, Dubai<\/p>\n","protected":false},"author":1,"featured_media":105419,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2540],"tags":[10,9,2505],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-105418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam-ksa","tag-what-were-tracking-today","tag-world-cup","wpautop","entry"],"acf":{"mongo_id":"3e6bc737-160a-4831-a969-2df0062235a3","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/12\/2003.jpg","photo_position":"above","homepage_title":"","full_issue_title":"World Cup stadiums next on the chopping block?","related_issue":[105416],"teaser":"PLUS: Visa splits Middle East operations between Riyadh, Dubai"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS MORNING: World Cup stadiums next on the chopping block? 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