Saudi Arabia is preparing to launch a SR1 billion ($267 million) private-sector-led sports development in the Eastern Province, following the signing of a major agreement for the planned Dammam Sports City at the Sports Investment Forum in Riyadh.

The agreement was signed by Talal bin Nabeel Al-Maghlouth, CEO of the Sharqia Development Authority, Ibrahim Al-Bakri, CEO of the Sports Investment Forum, Abdulaziz Al-Mutlaq, CEO of Dammam Valley Co., and Basim Ibrahim, representing the Ministry of Investment.

The project comes as Saudi Arabia continues to expand its sports sector under Vision 2030, reinforcing its ambition to position itself as a leading destination for international sporting events and investment.

In recent years, the Kingdom has hosted a growing number of global sporting events, including Formula 1 in Jeddah, Formula E in Diriyah, major boxing matches, elite tennis tournaments, LIV Golf events, and high-profile international football fixtures.

Its pipeline of upcoming events, including the AFC Asian Cup 2027 and the FIFA World Cup 2034, is expected to further strengthen Saudi Arabia’s global sports profile.

Alongside the Dammam Sports City announcement, the Sharqia Development Authority, in coordination with the Sports Investment Forum, unveiled several sports events in Dammam, with total investments estimated at SR15 million.

According to the Saudi Press Agency, the forum features keynote discussions on the future of sports investment, alongside an exhibition and an agreement-signing platform that brings together domestic and international stakeholders.

The report also noted the launch of a dedicated business club to facilitate direct engagement between investors and business leaders, aiming to accelerate partnerships and unlock new investment opportunities.

Several additional agreements were announced on the sidelines of the forum. These include a partnership between the Saudi Human Rights Commission and the Sports Investment Forum, overseen by commission president Hala Al-Tuwaijri and signed by Abdullah Al-Ghanim, deputy for strategic planning and governance, alongside Ibrahim Al-Bakri.

Another agreement was signed between the Events Investment Fund and the Saudi Shooting Federation to support the development of shooting sports through technical and operational assistance. The agreement was signed by Yusuf Al-Ghawas, chief executive for investment at the Events Investment Fund, and Abdullah Al-Dosari, CEO of the Saudi Shooting Federation.

The three-day Sports Investment Forum opened in Riyadh on Monday, drawing senior officials, CEOs, investors, and decision-makers from around the world.

The program includes sessions exploring the intersection of sports investment with tourism, technology, and media, as well as discussions on funding mechanisms and investment structures for large-scale projects.

An innovation-focused track is also highlighting the growing role of artificial intelligence in sports investment, alongside discussions on urban innovation, media transformation, sports federations, and women’s participation in sports investment, in partnership with Princess Nourah bint Abdulrahman University.

The forum reflects the growing momentum of Saudi Arabia’s sports investment sector, supported by an increasingly attractive regulatory environment, modern infrastructure, and strong government backing.

Positioned as an international platform, the Sports Investment Forum aims to showcase opportunities, strengthen the business ecosystem, and foster strategic partnerships aligned with the goals of Vision 2030.

On the sidelines of the event, Basim Ibrahim, director of sports sector investment development at the Ministry of Investment, told Al-Eqtisadiah that discussions are underway with Newcastle United, Chelsea, and Liverpool regarding potential investment opportunities in Saudi Arabia.