Saudi Arabia to build $500 million esports city

Saudi Arabia is planning to build a city dedicated to esports and gaming which could cost $500 million. This ambitious mega project will get completed some time in 2024.

The Chief Executive Officer (CEO) of Saudi Arabia Holding Co, Mohammed AlQahtani revealed that this city will be built in Riyadh as a part of Saudi Vision 2030. This esports city will create state-of-the-art infrastructure which can act as a potential backbone for future esports and gaming events. This city will be designed to accommodate 20,000 spectators at once.

Saudi Arabia’s $500 million esports city will lure investors

The establishment of the e-sports city in Saudi Arabia opens up numerous prospects for both investors and e-sports enthusiasts. This innovative project creates an ideal environment for investment in the e-sports industry, offering a range of exciting opportunities for growth and collaboration.

Additionally, e-sports makers will find a vibrant platform to showcase their talents and skills on a global scale, further elevating the status of Saudi Arabia as a leading destination for e-sports.

Esports market to reach $1.6 billion by 2023

With the global e-sports market projected to reach a value of $1.6 billion by 2023, Saudi Arabia stands out as one of the most rapidly expanding markets worldwide. By investing in the e-sports city, individuals and organizations can tap into this impressive growth and position themselves strategically within the flourishing e-sports ecosystem.

The city’s development presents a promising prospect for investors seeking to capitalize on the immense potential and future prospects of the e-sports industry.

Saudi Arabia leading from the front

The Saudi Arabian government has shown significant support for major companies in their efforts to invest in sports comprehensively. With the rapid growth of esports in recent years, this development may have influenced the government’s decision to establish a complete ecosystem.

This will not only fosters the growth of esports talent in the region but also positions Saudi Arabia as a central hub for hosting top-tier events. This strategic initiative aims to enhance tourism and support businesses that benefit from the influx of visitors.

In a noteworthy move last year, the Saudi Arabian government-backed Savvy Gaming Group made a substantial investment of $1.5 billion to acquire both ESL and FACEIT. Demonstrating their continued commitment to the esports industry, the Savvy Gaming Group has recently invested over $250 million in VSPO, a prominent Chinese tournament operator.

Saudi Arabia will serve as the host country for several prestigious esports events as part of the Gamers8 festival. With a remarkable prize pool of $45 million, the organizers proudly proclaim it to be the largest in esports history.

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