Saudi Arabia Unveils USD 267 Million Dammam Sports City Project
The project comes as the Kingdom continues to expand its ambitions in the sports sector
Saudi Arabia is set to launch a private sector-led sports development project worth SAR 1 billion (USD 267 million) in the Eastern Province, following the signing of a major agreement to establish Dammam Sports City during the Sports Investment Forum in Riyadh. The agreement is signed by Talal bin Nabil Al-Maghlooth, CEO of the Eastern Province Development Authority; Ibrahim Al-Bakri, CEO of the Sports Investment Forum; Abdulaziz Al-Mutlaq, CEO of Dammam Valley Company; and Bassem Ibrahim, representing the Ministry of Investment. In recent years, Saudi Arabia has hosted a growing number of major international sporting events, including Formula 1 races in Jeddah, Formula E in Diriyah, high-profile boxing bouts, elite tennis tournaments and major international football matches. Upcoming events, including the 2027 AFC Asian Cup and the 2034 FIFA World Cup, are expected to further strengthen Saudi Arabia’s position on the global sports stage.
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