Saudi Arabia To Develop $3.3bn Sports Complex With UK Tech Partnership

RIYADH: Saudi Arabia is set to develop a $3.3 billion sports complex through a new partnership between Alpha Jossor Investments and Blockchain Sports Ecosystem, a UK-based tech company.

The collaboration aims to create one of the largest innovative athletic hubs in the Middle East and North Africa, integrating advanced technology solutions and attracting significant investments in the sports and entertainment sectors, according to a press release issued on Tuesday.

The complex will feature a cutting-edge football academy with state-of-the-art training facilities. Additionally, it will include real estate developments in the form of 1,500 villas and over 3,300 apartments, estimated at $1.6 billion. These developments will support sustainable urban living and align with Saudi Arabia’s Vision 2030 goals of boosting tourism and foreign investment.

The project is part of Saudi Arabia’s broader Vision 2030 initiative to diversify the economy and reduce dependence on oil. The Kingdom aims to increase sports participation from 13 percent to 40 percent of the population by 2030 and is investing approximately $2 billion annually in the sector. These efforts are projected to generate $22 billion in economic impact over the next decade and create over 100,000 jobs in sports and related industries.

Alpha Jossor Investments will play a crucial role in managing and attracting foreign investment for the project.

Faisal Janahi, CEO of Alpha Jossor Investments, highlighted the partnership’s importance in advancing the company’s mission of delivering high-impact investments aligned with Vision 2030.

“Our partnership with Blockchain Sports Ecosystem is a strong step toward creating an innovative sports hub in Saudi Arabia, aligning with our vision for sustainable growth” Janahi noted. 

Blockchain Sports Ecosystem brings a team of over 1,200 experts from eight countries, specializing in integrating advanced technologies such as performance tracking, artificial intelligence, extended reality, and blockchain into athletic development.

The company operates football academies globally, including three in Brazil, where it trains over 600 youth from low-income families to become professional footballers.

With partnerships spanning over 30 football academies worldwide, Blockchain Sports Ecosystem has garnered endorsements from top players such as Romario, Zico, and Wesley Sneijder.

The partnership was formalized through a memorandum of understanding signed by Abdulrahman Al-Qarni, chairman of Alpha Jossor Investments, and Dmitry Saksonov, founder of Blockchain Sports Ecosystem, at a ceremony in Riyadh. The event, attended by football stars including Kevin Kuranyi, Jay-Jay Okocha, Mikael Silvestre, and Jens Lehmann, underscored the strategic importance of this initiative in transforming the sports landscape in Saudi Arabia.

“With the advanced technologies Blockchain Sports Ecosystem has developed, the upcoming project will set a new standard for the global sports community,” Saksonov said.

As part of the MoU, the companies will also collaborate on developing a digital platform for managing athlete identities. This platform will facilitate secure and transparent transactions within the sports industry and support global scouting efforts.

The digital ID service aims to connect over 16 countries and identify top talent for training opportunities at the new Saudi academy.

Blockchain Sports Ecosystem’s technologies, protected under INTEROCO copyright and recognized in 181 countries, will further enhance the project’s global reach.