EIF’s inaugural project exceeds US $131mn ...United Arab Emirates

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EIF’s inaugural project exceeds US $131mn

The Events Investment Fund (EIF), launched by Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, under the auspices of the National Development Fund (NDF), has unveiled the development of the Riyadh Shooting Range & Entertainment Complex. This marks the EIF’s inaugural project with an investment exceeding US $131mn.

Located 40 minutes from Riyadh, the Riyadh Shooting Range & Entertainment Complex is situated within Qiddiya City, a new destination designed entirely around the concept of ‘The Power of Play’. Spanning 457,000sqm, the venue will boast a shooting sport facility that adheres to the standards set by the International Shooting Sport Federation (ISSF).

    This facility will host a diverse range of international and national events, providing both professional and amateur shooting training facilities. It will feature professional and commercial ranges dedicated to pistol, rifle, and shotgun disciplines.

    The venue’s design is crafted to accommodate national and international shooting events, including events such as the Asian Games, World Cups, Grand Prix, and Olympic Games. The Saudi Shooting Federation (SSF) provides unwavering support to ensure the smooth execution of these events, said a statement.

    Beyond its sporting prowess, the Entertainment Complex will offer a wide array of experiences that cater to corporate events and families. These include activities like paintball, airsoft, laser tag, and virtual shooting. The facility is poised to generate over 2,300 jobs and attract 400,000 visitors annually.

    EIF, CEO, Wahdan Suliman Alkadi said, “The Riyadh Shooting Range marks a major milestone in the journey of the Events Investment Fund and is our first landmark project, built to Qiddiya City’s international standards. This development reflects our commitment to creating world-class venues that enhance the Kingdom’s events infrastructure, stimulate investment opportunities, and contribute to achieving the goals of Saudi Arabia’s Vision 2030.”

    Muhannad AlDawood, Chief Strategy Officer for Qiddiya Investment Company also commented, “We’re delighted to welcome the Events Investment Fund and the Riyadh Shooting Range to Qiddiya City. As we embark on our journey to host a range of world-class sporting facilities, accessible to members of the public, enthusiasts and high performing athletes alike, this dedicated facility and entertainment complex is the latest exciting addition to the world’s first city built for play.”

    The EIF anticipates announcing similar projects in other cities early next year to further solidify its commitment to constructing sustainable event infrastructure that improves quality of life, supports economic diversification, and positions Saudi Arabia as a prominent global destination for leisure and sports.

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