Dubai: Saudi Arabia’s Alpha Jossor Investments has signed up with a UK firm to explore the development of a multi-billion dollar sports and entertainment complex in the Kingdom.
The scope of the project will also include a sports academy, a digital ID platform showcasing young sporting talent, and an extensive real estate portfolio built around the academy.
The promoters say the cumulative cost of the development will be upwards of $3 billion.
The sporting complex will include a football academy, itself part of what is being designed as a ‘smart city’ anchored around sports.
The real estate aspect includes the launch of a digital platform for buying, selling, and management of properties within the digital domain. It will include additional private developments around the football academy, with investments estimated at $1.6 billion. These will include 1,500 villas and about 3,330 apartments.
“Alpha Jossor Investments is dedicated to bridging global expertise and local private investor landscape through high-impact investments,” said Faisal Janahi, CEO of Alpha Jossor Investments, in a statement.
Alpha Jossor Investments takes on the role of ‘strategic partner’ for the private sector, connecting them with international companies and tapping foreign and local investments for ‘innovative projects’.
The UK-based Blockchain Sports Ecosystem is the partner in the venture.
“The Middle East has proved its ability to bring innovative projects of enormous scale to life,” said Dmitry Saksonov, founder of the UK-based Blockchain Sports Ecosystem. We hope our mutual efforts will make the region prominent in the world’s sports arena.”
