Saudi Arabia is set to develop a $3.3 billion sports complex through a new collaboration between Alpha Jossor Investments and the UK-based Blockchain Sports Ecosystem. The initiative aims to establish one of the largest and most innovative athletic hubs in the Middle East and North Africa, integrating advanced technologies to attract significant investments in sports and entertainment, according to a press release issued on Tuesday.
The forthcoming complex will include a state-of-the-art football academy equipped with cutting-edge training facilities. Additionally, the project will feature substantial real estate developments, including 1,500 villas and over 3,300 apartments, valued at $1.6 billion. These developments are intended to support sustainable urban living and align with Saudi Arabia’s Vision 2030 objectives, which focus on boosting tourism and attracting foreign investment.
This venture is a key component of Saudi Arabia’s Vision 2030 initiative, which seeks to diversify the economy and decrease reliance on oil. The Kingdom aims to increase sports participation from 13 percent to 40 percent of the population by 2030 and is investing around $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 fields.
Alpha Jossor Investments will play a pivotal role in managing and securing foreign investment for the project. Faisal Janahi, CEO of Alpha Jossor Investments, emphasized the partnership’s alignment with the company’s mission to deliver impactful investments in line with Vision 2030.
“Our partnership with Blockchain Sports Ecosystem is a significant step towards creating a world-class sports hub in Saudi Arabia, supporting our vision for sustainable growth,” Janahi remarked.
Blockchain Sports Ecosystem, with a team of over 1,200 experts from eight countries, will integrate 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 backgrounds.
The formal agreement was 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 was attended by notable football stars, including Kevin Kuranyi and Jay-Jay Okocha, underscoring the project’s significance in transforming Saudi Arabia’s sports landscape.
Saksonov highlighted that the project, enhanced by Blockchain Sports Ecosystem’s technologies, will set a new benchmark for the global sports community. The partnership also includes developing a digital platform for managing athlete identities, aiming to connect over 16 countries and support global scouting efforts.
Blockchain Sports Ecosystem’s technologies, protected under INTEROCO copyright and recognized in 181 countries, will further extend the project’s international impact
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