Saudi Arabia seeks private sector investment in sports industry: Report
Saudi Arabia expects substantial private sector investment in its sports industry as the Kingdom prepares to host the 2034 FIFA World Cup, a senior government official said.
'There are significant investment opportunities in the sports sector,' Basem Ibrahim, Director of Sports Investment Development at the Saudi Ministry of Investment, told Ashraq Business.
While the government will develop large sports facilities, the private sector will support by developing residential communities, hotels, fan zones, and national team training camps, he said.
Investments in infrastructure projects will range from 10 million to SAR 80 million Saudi riyals ($2.7-21.3 million), Ibrahim revealed.
According to the official, the Kingdom has received requests to establish sports academies from Brazil, Europe, North America, Australia, Asia, Japan, and South Korea.
(Editing by Anoop Menon)
(anoop.menon@lseg.com)
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