Saudi Arabia's Eastern Province to Host $267 Million Private Sports Project
Saudi Arabia's Eastern Province is set to welcome a major SR1 billion ($267 million) private sector-driven sports development project following a significant agreement concluded during the Sports Investment Forum 2026 in Riyadh. This ambitious initiative reflects the Kingdom's expanding sports infrastructure under the Vision 2030 economic diversification plan.
Dammam Sports City Agreement Signed
The deal for the planned Dammam Sports City was formally signed by key stakeholders including Talal bin Nabeel Al-Maghlouth, CEO of the Sharqia Development Authority; SIF CEO Ibrahim Al-Bakri; Dammam Valley Co. CEO Abdulaziz Al-Mutlaq; and Basim Ibrahim, representing the Ministry of Investment. This project represents one of the largest private sector investments in Saudi sports infrastructure to date.
Alongside the Dammam Sports City project, the Sharqia Development Authority, in coordination with SIF, also unveiled a series of sports events in Dammam with total investments estimated at around SR15 million. These developments signal a comprehensive approach to sports development in the Eastern Province.
Sports Industry Expansion Under Vision 2030
The sports industry has experienced rapid expansion under Vision 2030, reinforcing Saudi Arabia's ambition to become a leading global destination for major sporting events. In recent years, the Kingdom has successfully hosted numerous high-profile competitions including:
- Formula 1 races in Jeddah
- Formula E events in Diriyah
- Major boxing matches
- Elite tennis competitions
- LIV Golf tournaments
- High-profile international football fixtures
The pipeline of upcoming events, including the AFC Asian Cup 2027 and the FIFA World Cup 2034, is expected to further elevate Saudi Arabia's international sports profile and attract additional investment to the sector.
Sports Investment Forum Highlights
The three-day Sports Investment Forum opened in Riyadh on Monday, drawing participation from senior officials, CEOs, investors, and decision-makers from around the world. According to the Saudi Press Agency, the forum includes keynote discussions focused on the future of sports investment, alongside an exhibition and a platform for signing agreements that bring together domestic and international stakeholders.
The forum's program features specialized sessions examining the intersection of sports investment with tourism, technology, and media, in addition to discussions on funding mechanisms and investment structures for major projects. An innovation-focused track highlights the growing role of artificial intelligence in sports investment, alongside panels covering urban innovation, media transformation, the development of sports federations, and women's participation in sports investment.
Additional Agreements Announced
Several additional agreements were announced on the sidelines of the forum, demonstrating the comprehensive nature of Saudi Arabia's sports investment strategy:
- A partnership between the Saudi Human Rights Commission and SIF, overseen by commission president Hala Al-Tuwaijri, and signed by Abdullah Al-Ghanim, deputy for strategic planning and governance, alongside SIF representative Ibrahim Al-Bakri.
- An agreement between the Events Investment Fund and the Saudi Shooting Federation to support the development of shooting sports, including technical and operational assistance. This deal was signed by Yusuf Al-Ghawas, EIF chief executive for investment, and Abdullah Al-Dosari, CEO of the Saudi Shooting Federation.
A dedicated business club has been introduced to facilitate direct engagement between investors and corporate leaders, aiming to accelerate partnerships and unlock new investment opportunities in the sports sector.
International Investment Discussions
On the sidelines of the event, Basim Ibrahim, director of sports sector investment development at the Ministry of Investment, revealed that discussions are ongoing with prominent English football clubs Newcastle United, Chelsea, and Liverpool regarding potential investment opportunities within the Kingdom. These discussions highlight Saudi Arabia's growing influence in global sports investment.
The forum underscores the strong momentum of Saudi Arabia's sports investment sector, supported by an increasingly attractive regulatory environment, modern infrastructure, and sustained government backing. The Sports Investment Forum serves as an international platform aimed at showcasing opportunities, strengthening the business ecosystem, and fostering strategic partnerships aligned with the objectives of Saudi Vision 2030.
