NEOM renews partnership with Asian Football Confederation to 2029 

The two parties first signed a four-year partnership in 2021. Supplied
Short Url
Updated 10 July 2024
Follow

NEOM renews partnership with Asian Football Confederation to 2029 

RIYADH: Collaboration between Saudi Arabia’s $500 billion giga-project NEOM and the Asian Football Confederation will run until 2029 after a partnership deal between the two was renewed. 

Under the terms of the arrangement, NEOM will continue to serve as the official global partner of the AFC national team and club competitions and be the presenting partner of the first pan-Asian AFC Women’s Champions League. 

The agreement aims to promote inclusivity in sports and support the development of women’s football across Asia, a press release stated. 

The two parties first signed a four-year partnership in 2021, which encompassed major AFC national team competitions, including the 2022 World Cup and AFC Asian Qualifiers featuring the continent’s top 12 football nations, as well as Asia’s flagship national team competition, the AFC Asian Cup China 2023. 

“NEOM’s partnership with the Asian Football Confederation provides us with a valuable platform to collaborate with a global football leader, creating opportunities and positively contributing to the development of sport across Asia,” Nadhmi Al-Nasr, CEO of NEOM, said. 

“Sport is a key component of Saudi Vision 2030’s ambition to develop a healthy society with strong social bonds and the extension of our partnership with the AFC supports NEOM’s aspirations to become an innovative hub for sport and its goal to have one of the most physically active societies globally,” he added. 




Supplied

The release further stated that the partnership aims to reinforce NEOM’s presence in Asian football, marked by AFC’s revamped club tournaments. 

The newly introduced AFC Champions League Elite Finals will see NEOM as the Official Global Presenting Partner of the eight final matches being played in Riyadh in 2025. 

NEOM will also be the Presenting Partner of the inaugural AFC Women’s Champions League, promoting the top 12 women’s clubs from across Asia. 

This agreement builds on the foundations laid over the past four years as Saudi Arabia prepares to host prestigious football competitions such as the AFC Asian Cup Saudi Arabia 2027. 

The partnership between NEOM and the AFC has led to the creation of “Champions of Progress,” an initiative designed to use the global platform of football to drive positive change across the region. This undertaking will focus on activations and developing the next generation of talent across AFC competitions. 




Supplied

“This partnership renewal further reinforces the appeal of the AFC’s competitions to engage with the millions of passionate fans of Asian football and we look forward to creating more historic moments with NEOM to achieve mutually beneficial outcomes,” the AFC General Secretary, Datuk Seri Windsor John said.

The collaboration with the AFC is expected to significantly contribute to the livability of NEOM’s residents and the project’s dynamic economy, the release added. 

NEOM further stated that it aims to become one of the world’s most physically active societies, with its residents engaging with AFC events and enabling a grassroots development program targeted at youth across Saudi Arabia. 

The partnership has already supported NEOM’s initiatives, such as the Shuhub Community Program, which has engaged 10,000 young people around the Kingdom to date. 

Through this collaboration, NEOM has provided local boys and girls from football community groups with opportunities to participate in AFC matches as player mascots, center circle children, and the first-ever trophy handover children at the AFC Champions League 23/24 Final. 


Closing Bell: Saudi main market closes the week in red at 10,526 

Updated 25 December 2025
Follow

Closing Bell: Saudi main market closes the week in red at 10,526 

RIYADH: Saudi equities ended Thursday’s session modestly lower, with the Tadawul All Share Index slipping 14.63 points, or 0.14 percent, to close at 10,526.09.    

The MSCI Tadawul 30 Index also declined 3.66 points, or 0.26 percent, to 1,389.66. In contrast, the parallel market outperformed, as Nomu jumped 237.72 points, or 1.02 percent, to close at 23,430.93.  

Market breadth on the main market remained tilted to the downside, with 156 stocks ending lower against 99 gainers.    

Trading activity eased further, with volumes reaching 80.46 million shares and total traded value amounting to SR1.66 billion ($442 million).    

On the movers’ board, Saudi Industrial Export Co. led the gainers, rising 6.6 percent to SR2.10, followed by Consolidated Grunenfelder Saady Holding Co., which advanced 6.43 percent to SR9.60.    

Raoom Trading Co. climbed 4.36 percent to SR61.05, while Astra Industrial Group gained 4.35 percent to close at SR139. Riyadh Cables Group Co. added 3.77 percent to end the session at SR135.00.    

On the downside, Methanol Chemicals Co. topped the losers’ list, falling 5.96 percent to SR7.41.  

Flynas Co. retreated 5.43 percent to SR61.00, while Leejam Sports Co. dropped 5 percent to close at SR100.80.    

Alramz Real Estate Co. slipped 4.64 percent to SR55.50, and Almasane Alkobra Mining Co. declined 4.55 percent to SR84.00.  

On the announcement front, ACWA Power said it has completed the financial close for the Ras Mohaisen First Water Desalination Co., a reverse osmosis desalination project with a capacity of up to 300,000 cubic meters per day, alongside associated potable water storage facilities totaling 600,000 cubic meters in Saudi Arabia’s Western Province.    

The project was financed through a consortium of local and international banks, with total funding of SR2.07 billion and a tenor of up to 29.5 years, while ACWA Power holds an effective 45 percent equity stake.  

Shares of ACWA Power ended the session at SR185.90, up SR0.2, or 0.11 percent.     

Meanwhile, Consolidated Grunenfelder Saady Holding Co. announced the sign-off of a customized solutions project with Saudi Aramco Nabors Drilling Co., valued at SR166.0 million excluding VAT.    

The 24-month contract covers the sale and maintenance of field camp facilities, with the financial impact expected to begin from the first quarter of 2026.