3 days ago
Saudi Arabia seeks to privatize stadiums: Official
Basim Ibrahim, Sport Sector Investment Development Director, the Ministry of Investment, said there are distinctive investment opportunities managed by the Ministry of Sports in the Kingdom.
This includes offering sports stadiums to the private sector for management and commercial operation. Thus, the stadiums would turn entirely into a commercial project, not only intended for hosting sports matches.
In an interview with Asharq, Ibrahim confirmed that the Ministries of Sports and Investment are working on privatizing sports clubs. He added that eight clubs were already privatized in the first phase, and 14 others will be offered for privatization in the second phase. The remaining clubs will also be privatized in other phases.
There is still a focus on specialized sectors in the investment field, including sports medicine, sports manufacturing, and sports technology, Ibrahim said.
He added that investors are being assured that this is the ideal time to enter the Saudi market and seize other opportunities such as attracting sports academies, gyms, and sports tourism.
