Saudi Arabia is planning to spend up to half a billion dollars building its own city dedicated solely to the gaming industry. The Esports City will be within Riyadh and will be completed by next year.
The development was announced by Mohammed AlQahtani, the CEO of Saudi Arabia Holding Co – one of the Kingdom’s major private equity firms.

The e-sports city is expected to attract major e-sports teams and players from around the world. It will also provide a platform for local talent to develop and compete on the global stage. It will have a capacity of 20,000 spectators and will host a variety of e-sports events, including the World Cyber Games.

AlQahtani said: “For e-sports makers, the city provides a new platform to showcase their skills and compete on the global stage. The city will host a variety of e-sports events, including the World Cyber Games, which is one of the largest e-sports tournaments in the world.

“The e-sports city is a significant development for the e-sports industry in Saudi Arabia. It is a sign of the country’s commitment to developing the industry and becoming a global hub for e-sports.”

A new wealth fund in Saudi Arabia looks to fuel growth in entertainment, tourism and events, including horse racing and car racing tracks. Events Investment Fund (EIF) was announced by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister, who is also chairman of the fund.

EIF will conceptualise, finance and oversee development of more than 35 venues by 2030. The aim of EIF is to position the Kingdom as the global hub in these various event sectors, to provide sustainable infrastructure for the delivery of an ambitious national events calendar and to create sustainable financial returns to support the Kingdom’s economic diversification efforts.

EIF assets include indoor arenas, art galleries, theaters and conference centers, horse-racing tracks, auto racing tracks and other event facilities across the Kingdom, with the aim of delivering its first asset by 2023.

Source: Hotelier Middle East