JEDDAH: Following a significant agreement reached at the Sports Investment Forum in Riyadh, the Eastern Province of Saudi Arabia is getting ready to welcome an SR1 billion ($267 million) private sector-driven sports development project.
Talal bin Nabeel Al-Maghlouth, CEO of the Sharqia Development Authority; Ibrahim Al-Bakri, CEO of SIF; Abdulaziz Al-Mutlaq, CEO of Dammam Valley Co.; and Basim Ibrahim, representing the Ministry of Investment, formally signed the agreement for the proposed Dammam Sports City.
Under Vision 2030, the sports sector has grown quickly, supporting the Kingdom’s goal of becoming a top international location for important athletic events. Saudi Arabia has held significant boxing fights, elite tennis competitions, LIV Golf tournaments, Formula 1 in Jeddah, Formula E in Diriyah, and high-profile international football matches in recent years. Future events such as the 2034 FIFA World Cup and the 2027 AFC Asian Cup are expected to elevate the Kingdom’s standing in international sports.
In addition to the Dammam Sports City project, the Sharqia Development Authority and SIF announced a number of sporting events in Dammam, with an anticipated total investment of SR15 million.
Also Read:
Abdulelah Bakalka: Redefining the HR Solutions in the Aviation Sector
Gulf’s Top 10 Leaders Redefining Business in 2026
