Saudi Arabia has made it a primary goal to invest in its sporting and events infrastructure, and recent developments show that it is on course to fulfil that objective.
The latest moves are part of the government’s Vision 2030 initiative, which is a long-term goal to diversify revenue streams away from the oil and gas sector.
Saudi Arabia’s investment in sports has increased interest in live events, while the infrastructure has improved fan experience across stadiums and other venues.
Many Arab citizens have started following their favourite sports and competitions through second screen experiences such as online sports betting.
The best betting sites featured on comparison platform arabswin-saudi.com/en/ offer people seamless access to licensed and regulated sportsbooks.
While gambling is still frowned upon in Saudi Arabia, platforms that operate there are managed by foreign companies which are have obtained licenses in other jurisdictions.
Read on as we look some of the latest developments that are shaping the sports and events landscape in Saudi Arabia.
PIF Broadens its Investment Horizons
Saudi Arabia is shifting its focus from building impressive stadiums and arenas to making sure those venues are successful, profitable and useful for many years after they open.
Owned by the Public Investment Fund (PIF), SURJ Sports Investment has teamed up with Live Nation and Oak View Group to create a new company called radia.
Rather than focusing only on building new venues, radia will help to improve how sports and entertainment facilities are designed, managed and operated throughout their entire lifecycle.
The partnership combines Saudi Arabia’s local knowledge with the expertise of companies that have spent decades running major concerts, sports events and entertainment venues around the world.
The goal is to avoid building expensive stadiums that sit empty for much of the year. They want venues that regularly host sporting events, concerts, exhibitions, conference, and other activities that attract visitors and generate income.
Radia plans to improve ticket purchasing, crowd management, hospitality and the overall visitor experience by using digital tools and data. The company also wants new venues to be more environmentally sustainable while being financially successful.
These venues will create jobs, attract tourists, support nearby hotels, restaurants and businesses, and become places where communities gather for major events.
Infrastructure Ambitions Boosted Through Global Investment Partnership
A successful sporting industry also depends on having strong supporting infrastructure and modern digital technology that allow venues and surrounding communities to function efficiently.
To that effect, the PIF has signed a Memorandum of Understanding (MoU) with global infrastructure investment company I Squared Capital.
While the agreement is not legally binding and no investments have been finalised yet, I Squared has pledged to invest $2 billion in infrastructure and real estate projects linked to PIF.
Any actual investment will still need to go through detailed reviews and receive regulatory approval.
The fund will be split between two key areas – digital infrastructure and district cooling.
Digital infrastructure covers systems used for online ticketing, security, live broadcasting, internet connectivity, fan experiences and day-to-day operations.
As stadiums become smarter and more connected, these digital systems will be just as important as the buildings themselves.
District cooling is a centralised air-conditioning system that cools multiple buildings from one location instead of each building having its own separate air-conditioning units.
This is a much more energy-efficient way to keep stadiums, hotels, shopping centres, offices and residential areas comfortable while reducing electricity use.
Qiddiya’s National Tennis Centre Moves Closer to Becoming a Regional Landmark
Qiddiya Investment Company has confirmed that work is well underway on the National Tennis Centre at Qiddiya City, located west of Riyadh.
The facility will be the largest tennis complex in the Middle East, creating a new focal point for both international competition and local player development.
The venue will be capable of hosting elite tournaments. It will include 30 tennis courts, training facilities, public spaces and fan zones. It is a place where families, beginners, recreational players and aspiring professionals can develop their skills.
The goal is to make tennis more popular in Saudi Arabia and give talented young players the chance to train at a world-class facility without leaving the country.
The National Tennis Centre is also part of the much larger Qiddiya City project, which is being developed as a major entertainment and tourism destination.
Alongside the tennis complex, the city already features attractions such as Six Flags Qiddiya, the Aquarabia water park and PlayMaker Studios.
