RIYADH — Qiddiya Investment Company has signed a historic strategic partnership agreement with the two poles of Saudi sports — Al-Nassr and Al-Hilal — for a period of 20 years.

The deal, starting from 2022 to 2042, has a value of SR100 million for each club, with the possibility of reviewing the terms of the partnership agreement every five years.

It is considered the largest strategic partnership in the history of the two prestigious clubs in the Kingdom, as the agreement comes within the framework of strengthening the position of Qiddiya as the future capital of Saudi entertainment, sports and culture.

The agreement includes many sports privileges for the two major clubs, contributing to increase sports investment opportunities in Asia, specifically in the Middle East, and enhance Qiddiya's position as the future capital of entertainment, sports and culture in the Kingdom.

The partnership contract was signed by Board Member and Managing Director of Qiddiya Investment Company Abdullah bin Nasser Al-Daoud, the Chairman of the Board of Directors of Al-Nassr, Musali Al-Muammar, and the Chairman of the Board of Directors of Al-Hilal, Fahd bin Nafel, at the Experience and Visitors Center in Qiddiya, in the presence of the company’s leaders and a number of senior athletes of the two clubs.

In remarks on the occasion, Al-Daoud stressed that the partnership with Al-Nasr and Al-Hilal clubs comes within the framework of a strategic vision aimed at developing the sports industry in the Kingdom.

He said that this agreement enhances Qiddiya's position as the future capital of entertainment, sports and culture, and a destination for local, regional and international competitions, due to its innovative experiences in various creative fields.

Qiddiya company will gain great financial advantage through offering a number of investment opportunities including the developing of the two clubs as they will benefit from using modern facilities to practice a wide range of sports within the project.

All matches of the two teams will be hosted at Qiddiya stadium once its construction is completed, he said, citing that it will accommodate more than 40,000 spectators. All seats in the stadium overlook the stunning view of Qiddiya from the highest peak on the cliff. In addition, the stadium special halls and seats for VIPs, where fans of the two clubs will gain a new experience. They will be able to access recreational and sports facilities and creative places around the stadium, which will reflect positively on the contribution of the sports industry to the national GDP.

The strategic partnerships aim at mutual benefits for all parties involved, Al-Daoud said

Qiddiya is based on five main pillars, including sports and health, nature and environment, parks and entertainment destinations, movement and excitement, and arts and culture, he added.

The stadium and its various sports facilities will serve as a main attraction for all the performances Qiddiya will present, he said, concluding that it will be a different experience for the fans attending the matches.