Qiddiya awards $1bn contract for Prince Mohammed bin Salman Stadium to Saudi-Spanish consortium

The new stadium is likely to host games during the Kingdom’s 2034 FIFA World Cup. File/@spagov
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Updated 03 October 2024
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Qiddiya awards $1bn contract for Prince Mohammed bin Salman Stadium to Saudi-Spanish consortium

JEDDAH: Saudi Arabia’s project developer Qiddiya Investment Co. has awarded a Spanish consortium an SR4 billion ($1 billion) contract for the Prince Mohammed bin Salman Stadium initiative. 

The agreement was granted to the company FCC Construction and the Kingdom’s leading contracting firm Nesma & Partners for the building of the sports facility at the project on the outskirts of Riyadh.

With the US-based architect Populous as the undertakings consultant, the contract covers the construction of a multipurpose stadium on top of the 200-meter-high Tuwaiq cliff in the new sports and entertainment district within the city, according to media outlet MEED.

In July, Saudi Arabia submitted its official bid to host the 2034 FIFA World Cup at a ceremony organized by the Federation Internationale de Football Association, known as FIFA, in Paris, France. The official announcement of the host nation for the tournament will be made on Dec. 11.

The new project marks a significant milestone in the realization of Vision 2030, aimed at enhancing tourism, generating thousands of jobs, boosting the national economy, and increasing annual visitors to the Kingdom by 1.8 million football fans and an additional six million drawn to non-football events.

The stadium’s design allows for multipurpose use, with the entire pitch capable of being transformed within hours to host various sporting and entertainment events, including rugby, boxing, and mixed martial arts, as well as esports championships, exhibitions, and concerts.

The facility will be built in the heart of Qiddiya, just 40 minutes from Riyadh, atop one of Tuwaiq Mountain’s peaks at an elevation of 200 meters, according to the Saudi Press Agency.

With a seating capacity of over 45,000, it is expected to attract international visitors with its innovative design and unique technological offerings, creating an immersive experience for guests. 

Among its features are retractable flooring, a foldable roof, and a movable upper wall that can open, revealing views of the lower city, home to key attractions like Six Flags Qiddiya and the water park.

The sports facility’s exterior frame, selected interior walls, and roof will also be covered with 1.5 km display screens. 

A standout feature of the stadium is its advanced climate control system, which will enable year-round events without excessive energy consumption. This will be achieved through an eco-friendly cooling lake located beneath the stadium, where rainwater collected from the surrounding area will be pumped into an ice wall to cool the air entering the central conditioning system.

Earlier in 2024, the investment company announced the launch of the stadium, which is set to be one of the world’s most prominent. 

The announcement followed Crown Prince Mohammed bin Salman’s unveiling of Qiddiya’s urban master plan and global brand, positioning it to become a leading destination for entertainment, sports, and culture globally.


Saudi-US roundtable meeting held to strengthen economic relations

Updated 20 January 2026
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Saudi-US roundtable meeting held to strengthen economic relations

RIYADH: The Saudi-US Roundtable was held in Riyadh on Jan. 20, coinciding with the ninth session of the Saudi-US Trade and Investment Association, organized by the General Authority for Foreign Trade.

The meeting was attended by the Deputy Governor of International Relations at GAFT Abdulaziz Al-Sakran and the Secretary General of the Federation of Saudi Chambers Waleed Alorainan. It was also attended by the President and CEO of the Saudi-US Business Council Charles Hallab and representatives from government agencies, as well as 83 private sector companies.

The meeting reviewed ways to strengthen economic relations between Saudi Arabia and the US. It also explored opportunities for trade and investment cooperation in various sectors that play a fundamental role in developing trade ties and increasing bilateral trade volume, which reached approximately $33 billion in 2024.

Al-Sakran indicated that the roundtable meeting comes within the framework of the authority’s keenness to enhance the role of the private sector in developing trade relations by enabling it to access foreign markets and removing all external obstacles it faces, in coordination with relevant entities.

He noted that trade relations between the Kingdom and the US have witnessed significant economic activity, resulting in a trade volume exceeding $500 billion over the past decade.

It is worth noting that GAFT works to develop bilateral trade relations by overseeing business councils and coordination councils. In addition, it enables Saudi Arabia’s non-oil exports to access foreign markets and helps overcome the various challenges they face.