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The project, part of the country's Saudi Vision 2030 plan to diversify its economy, aims to create a thriving hub for esports with a capacity to accommodate 20,000 spectators.
In an ambitious move to establish itself as a global leader in the esports industry, Saudi Arabia has announced plans to construct a state-of-the-art "esports city" in Riyadh.
The project, part of the country's Saudi Vision 2030 plan to diversify its economy, aims to create a thriving hub for esports with a capacity to accommodate 20,000 spectators.
The chief executive of Saudi Arabia Holding Company, Mohammed Al-Qahtani, unveiled the vision for the esports city, which will be located in the capital city.
The development will host a wide range of esports events, including the prestigious World Cyber Games, and is expected to attract top esports teams and players from around the world.
Al-Qahtani highlighted the significance of the project in his LinkedIn post, emphasizing the country's commitment to fostering the gaming industry.
With the gaming industry already valued at an estimated $1 billion, the esports city is poised to provide a platform for local talent to flourish and compete on the global stage.
"The city is part of [the] Saudi Vision 2030 plan, which aims to diversify the country's economy away from oil," AlQahtani wrote on LinkedIn.
"The plan also includes a focus on developing the country's gaming industry, which is already worth an estimated $1 billion (£786 million/€916 million).
"The e-sports city is expected to attract major e-sports teams and players from around the world. It will also provide a platform for local talent to develop and compete on the global stage.”
Scheduled to be completed by 2024, the esports city represents a significant opportunity for both investors and esports enthusiasts.
The global esports market is projected to reach a staggering worth of $1.6 billion by 2023, and Saudi Arabia is positioned as one of the fastest-growing markets in the world.
Moreover, the city provides a new platform for esports professionals to showcase their skills and compete internationally.
Hosting prominent esports events such as the World Cyber Games, which has previously taken place in renowned esports destinations, Saudi Arabia aims to firmly establish itself as a premier host for major tournaments.
The announcement of the esports city aligns with Saudi Arabia's recent efforts to become a prominent player in the esports realm.
In the past 18 months, the country has invested nearly $8 billion in acquiring and developing stakes in gaming companies, solidifying its commitment to shaping the future of esports.
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