• Agreements aim to develop the Kingdom’s sports, entertainment and construction industries.
  • Saudi Arabian Grand Prix marks the latest in a series of leading global sporting and entertainment events taking place the Kingdom, following significant development of the sector in recent years.  

Jeddah, Saudi Arabia: The Ministry of Investment of Saudi Arabia (MISA) facilitated a total of 14 investment agreements yesterday at the Saudi Arabian Grand Prix.

Aimed at developing the Kingdom’s sports, entertainment and construction sectors, the agreements were signed as part of a comprehensive sponsorship program hosted by Invest Saudi, Saudi Arabia’s investment promotion entity.

12 of the agreements were signed with leading sports companies and span the breadth of the sports industry in support of the Kingdom’s vision for the sector to increase mass participation in sports, nurture talent development pathways and stimulate elite sporting success. New partnerships include agreements with:

  • Sportscar manufacturer BAC Cars and VeloceLife to launch a leading manufacturing facility of BAC sports cars in Saudi Arabia.
     
  • PureGym Group to support expansion of their gym and fitness facilities.
     
  • Seedorf Group for the establishment of sport academies and sport medical clinics.
     
  • Meritus Formula4 to explore the activation of the Formula 4 academies and hosting championships in Saudi Arabia.

Alongside the agreements, Invest Sport (MISA’s department responsible for accelerating investments across the Kingdom’s sports industry) hosted workshops with Peter Thompson, CEO of the Asian Autosport Action (AAA) Group, Faisal bin Laden, CEO of VeloceLife, and Basim Ibrahim, MISA Sport Sector Manager, which highlighted the investment potential of the burgeoning sports sector.

This year’s Saudi Arabian Grand Prix is the latest elite sporting event to be hosted in Saudi Arabia. Last month, the Kingdom hosted a high-profile boxing event between British boxer Tommy Fury and social media star Jake Paul, in January the Spanish Super Cup was held in the historic district of Diriyah, and in October it was announced that the Kingdom would host the 2029 Asian Winter Games at the mountain resort Trojena.

Saudi Arabia’s sports sector has seen significant development in recent years fuelled by widespread social transformation and government investment commitments of US$2bn in sports by 2024. The sector’s contribution to non-oil GDP is expected to reach over US$22bn by 2030 with an additional US$5bn in private sector contribution required, providing significant opportunities for international investors.

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Full list of investment agreements signed:

  • PureGym Group to support expansion of their gym and fitness facilities domestically.
  • Sportscar manufacturer BAC Cars and VeloceLife to launch a leading manufacturing facility of BAC sports cars in Saudi Arabia.
  • Meritus Formula4 to explore the activation of the Formula 4 academies and hosting championships in Saudi Arabia.
  • Delta Sport to further expand the presence of their retail outlets and fitness projects in the Kingdom.
  • Sports marketing firm Sela Sport to develop and activate new strategic sports projects around Saudi Arabia.
  • Activating motorsports circuits and motorsports tourism in Saudi Arabia with SpeedSports.
  • Saudi Motorsport Company to explore and develop investment opportunities in the motorsports sector.
  • Global Management Consultancy Portas to expand their operations across the Kingdom.
  • Concept design company Hyperspace to expand the company’s presence in Saudi Arabia.
  • VR City Company for the expansion of VR City in the Kingdom.
  • Automotive company Al Tawkilat to invest in motorsport infrastructure.
  • Sports marketing agency SportFive to establish a new operating location in the Kingdom and to invest in eSports.
  • Construction equipment manufacturer Liebherr to manufacture concrete mixers in Saudi Arabia.
  • Seedorf Group for the establishment of sport academies and sport medical clinics.

Media Contact
misa@consulum.com

About the Ministry of Investment

The ongoing transformation of Saudi Arabia under the Vision 2030 economic development and diversification plan is unlocking new investment opportunities at an unprecedented pace. The Ministry of Investment of Saudi Arabia (MISA) is facilitating access to these opportunities by developing a vibrant cross-government investment ecosystem, facilitated by Saudi Arabia’s National Investment Strategy.

Through a network of representative offices across the world, MISA partners with businesses of all scales and sizes—from startups to blue-chip multinationals—to help make investing in Saudi Arabia as simple as possible. MISA also plays a leading role in improving Saudi Arabia’s overall business environment by facilitating investment data across regions and sectors, creating investment incentives, spearheading business reforms and opening up investment opportunities.

For more information on MISA, please visit the website or connect with #MISA on Twitter @MISA and LinkedIn.

About Invest Saudi

Overseen by Saudi Arabia’s Ministry of Investment (MISA), Invest Saudi is the Kingdom’s investment attraction and promotion entity charged with communicating and facilitating investment opportunities.

Invest Saudi is the primary point of contact for foreign investors seeking information and assistance before, during and after their entry into Saudi Arabia. It is committed to working in partnership with potential and current investors to make their investment journey a seamless experience.