Saudi Arabia to Develop $3.3 Billion Sports Complex in Partnership with Blockchain Sports Ecosystem
In a groundbreaking move, Saudi Arabia has announced plans to develop a $3.3 billion sports complex through a strategic partnership between Alpha Jossor Investments and Blockchain Sports Ecosystem, a cutting-edge tech company based in the UK.
Creating an Innovative Athletic Hub
The collaboration aims to establish one of the largest and most innovative athletic hubs in the Middle East and North Africa region. The project will integrate advanced technology solutions and attract significant investments in the sports and entertainment sectors, according to a press release issued on Tuesday.
State-of-the-Art Facilities and Real Estate Developments
The sports complex will feature a state-of-the-art football academy with cutting-edge training facilities. Additionally, the development will include real estate projects comprising 1,500 villas and over 3,300 apartments, valued 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.
Driving Economic Diversification and Growth
The project is a key part of Saudi Arabia’s Vision 2030 initiative aimed at diversifying the economy and reducing reliance on oil. The Kingdom aims to significantly increase sports participation from 13 percent to 40 percent of the population by 2030, with an annual investment of approximately $2 billion 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.
Strategic Partnership for Sustainable Growth
Alpha Jossor Investments will play a pivotal role in managing and attracting foreign investment for the project. Faisal Janahi, CEO of Alpha Jossor Investments, emphasized the importance of the partnership in advancing the company’s mission of delivering high-impact investments aligned with Vision 2030.
Innovative Technologies and Global Expertise
Blockchain Sports Ecosystem brings a team of over 1,200 experts from eight countries, specializing in advanced technologies such as performance tracking, artificial intelligence, extended reality, and blockchain integration for athletic development. The company operates football academies globally and has garnered endorsements from top players like Romario, Zico, and Wesley Sneijder.
Transforming the Sports Landscape
The partnership between Alpha Jossor Investments and Blockchain Sports Ecosystem was formalized through a memorandum of understanding signed by key stakeholders at a ceremony in Riyadh. The event, attended by football stars, underscored the strategic importance of this initiative in transforming the sports landscape in Saudi Arabia.
Setting a New Standard for Global Sports
With advanced technologies and expertise from Blockchain Sports Ecosystem, the upcoming project is set to establish a new standard for the global sports community. The companies will also collaborate on developing a digital platform for managing athlete identities, facilitating secure transactions and global scouting efforts.
Enhancing Global Reach with Innovative Technologies
Blockchain Sports Ecosystem’s technologies, protected under INTEROCO copyright and recognized globally, will enhance the project’s global reach. The digital ID service aims to connect over 16 countries and identify top talent for training opportunities at the new Saudi academy.