The 20-year partnership will run from 2022-2042 and will be subject to review every five years
Riyadh, KSA: Qiddiya Investment Company (QIC) has signed two historic strategic partnerships with Riyadh-based sports clubs, Al-Nassr Football Club (FC) and Al-Hilal Saudi Football Club (SFC). The 20-year strategic partnership is valued at SAR 100 million per club per year making it the largest in the history of both clubs and one of the largest in the region. The partnership will run from 2022-2042 and will be subject to review every five years.
The strategic partnership includes several benefits for both clubs as well as Qiddiya and will open new horizons in sports investment in Asia, specifically the Middle East, further establishing Qiddiya as the future Capital of Entertainment, Sports & Culture.
Qiddiya’s planned cliff-top 40,000+ seat stadium, once complete, will eventually become the new venue for home games for both teams and the full range of sporting facilities being developed will be made available for both clubs.
The Stadium is a flagship element of Qiddiya’s strategy to become a global center of sporting excellence and its complex will include corporate hospitality lounges and VIP and VVIPs seats. Sports fans will be able to enjoy and savor the amazing view of Qiddiya’s Resort Core from every seat to complement the quality on field action.
The pioneering agreements were formally signed between Qiddiya’s Managing Director, Abdullah bin Nasser Aldawood and Al-Nassr FC’s Chairman, Musalli AlMuammar and Al-Hilal SFC’s Chairman, Fahad bin Nafal at a ceremony held at the Qiddiya Experience Center. Senior officials from these two giants of Saudi football also attended the ceremony.
Commenting on the partnership, Aldawood said: “This strategic partnership is in line with Qiddiya’s strategy to contribute to the development of the wider sports industry in Saudi Arabia and is another important step towards our aim of building and developing Qiddiya as a formidable sports hub that is the home of local, regional and international competitions. There will be numerous benefits for the club including the use of our state-of-the-art facilities to train and become world champions across a wide range of sports in addition to football.
“Both Al-Nassr and Al Hilal are set to play their home games at Qiddiya’s world-class venues, including the incredible new cliff-top Stadium, once construction is complete. The clubs’ fans will gain an entirely new experience as they will have access to the entertainment and sports facilities and venues around the Stadium. They will be inspired to pursue their own sporting dreams which will ultimately boost the sports industry’s contribution to the country’s GDP.”
Qiddiya’s offering will be based on five cornerstones: Parks & Attractions, Sports & Wellness, Arts & Culture, Motion & Mobility and Nature & Environment, along with a variety of real estate options and community services. The Stadium will be a key attraction of the Sports & Wellness cornerstone.
About Qiddiya Investment Company:
Qiddiya Investment Company (QIC) is driving the development of a destination, Saudi Arabia’s capital of Entertainment, Sports and Culture. As a core tenet of Vision 2030, Qiddiya has a dual economic and social purpose: to advance economic diversification and unlock new professional pathways while enriching lives of the youth in the Kingdom.
His Royal Highness Mohammad bin Salman, Crown Prince, Deputy Prime Minister, and Chairman of the Council of Economic and Development Affairs and of the Public Investment Fund (PIF), announced the project on April 7, 2017. Ground-Breaking took place on April 28, 2018 and the company, Qiddiya Investment Company (QIC), was incorporated as a closed joint-stock company wholly owned by PIF on May 10, 2018.
In 2021, plans for key assets were announced, including the Jack Nicklaus championship golf course and Six Flags Qiddiya’s signature attraction, The Falcon’s Flight. From a construction perspective, Qiddiya progressed from planning to construction phase as the mass grading and site preparation began, contracts worth more than SAR 2 billion were awarded solely to Saudi companies and a strategic partnership with DETASAD announced.
Qiddiya is located south-west of Riyadh on a site that spans 367 sq.km.
Visitors will enjoy activities across five cornerstones: Sports & Wellness; Nature & Environment; Parks & Attractions; Motion & Mobility; and Arts & Culture. Development of these areas will give rise to family-friendly theme parks; sports arenas suitable for international competitions; academies for sports and the arts; concert and entertainment venues; racetracks for motorsport enthusiasts; outdoor and adventure activities alongside nature and environment experiences; and historical, cultural and educational activities. Qiddiya will also include a variety of real estate options and community services.
