Saudi Arabia is embarking on a $3.3 billion sports complex project through a partnership between Alpha Jossor Investments and the UK-based Blockchain Sports Ecosystem.
This collaboration aims to establish a major athletic hub in the Middle East and North Africa, leveraging advanced technology and attracting significant investment in sports and entertainment.
The complex will feature a high-tech football academy and residential developments, including 1,500 villas and over 3,300 apartments, valued at $1.6 billion. These initiatives support sustainable urban living and align with Saudi Arabia’s Vision 2030 to boost tourism and foreign investment.
Vision 2030 is Saudi Arabia’s strategic plan to diversify its economy and reduce reliance on oil. The Kingdom aims to increase sports participation from 13% to 40% of the population by 2030, investing around $2 billion annually in the sector. These efforts are expected to generate $22 billion in economic impact over the next decade and create over 100,000 jobs.
Alpha Jossor Investments will manage and attract foreign investment for the project. CEO Faisal Janahi emphasized the partnership’s role in achieving high-impact investments aligned with Vision 2030.
Blockchain Sports Ecosystem, with a team of over 1,200 experts from eight countries, specializes in integrating advanced technologies like performance tracking, AI, extended reality, and blockchain into sports development. The company operates football academies globally, including three in Brazil, training over 600 youth from low-income families.
With partnerships across 30 football academies worldwide and endorsements from top players like Romario and Wesley Sneijder, Blockchain Sports Ecosystem is well-positioned to elevate the sports landscape in Saudi Arabia.
The partnership was formalized through a memorandum of understanding 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 football stars such as Kevin Kuranyi and Jay-Jay Okocha, highlighting the initiative’s strategic importance.
As part of the MoU, the companies will also develop a digital platform for managing athlete identities, facilitating secure transactions, and supporting global scouting efforts. This digital ID service aims to connect over 16 countries and identify top talent for training at the new Saudi academy.
Blockchain Sports Ecosystem’s technologies, protected under INTEROCO copyright and recognized in 181 countries, will further enhance the project’s global reach.