Saudi Arabia is set to get an esports city that is presumed to be worth around $500 million according to the CEO of a major private equity firm in Saudi Arabia who revealed that it will be built in Riyadh.
Mohammed AlQahtani, CEO of Saudi Arabia Holding Co has spoken up about their plans that involve building a city-within-a-city in Riyadh with a budget of $500 million. Aimed to be completed in 2024, the project will look to bring in all the major esports events from around the world to Riyad.
Saudi Arabian Government is backing major firms to make investments in sports holistically and the growth of esports in recent years might have prompted them to build an entire eco-system that not only promotes the growth of esports talent in the region but make SA work as a hub where all the top events take place thus boosting tourism and businesses that are aided by tourism.
“The esports city is expected to attract major esports teams and players from around the world,” AlQahtani said.
“It will also provide a platform for local talent to develop and compete on the global stage.”
Although the project is set to complete by 2024, the Saudis are hosting the Gamers8 festival which will boast the biggest prize pool in esports history of over $45 million.
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