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UK and French firms confirmed for Riyadh stadium PPP

19 August 2025

 

UK-based consultancy EY-Parthenon and French engineering firm Egis are supporting Saudi Arabia’s Ministry of Sport (MoS), the National Centre for Privatisation & PPP (NCP) and the Riyadh Region Municipality in developing the Prince Faisal Bin Fahad Sports City in Riyadh.

MEED understands that EY-Parthenon is serving as the project’s lead and financial adviser, while Egis is acting as the technical adviser.

The project will be delivered as a public-private partnership (PPP) under a design, build, finance, operate and maintain model, with a contract duration of 20 to 30 years.

MEED reported earlier this month that Saudi Arabia had issued an expression of interest and request for qualifications notice for the development of the project.

The notice was issued on 14 August, with a submission deadline of 13 October.

The project involves constructing a stadium in the northern section of King Abdullah Park in the Al-Malaz area of Riyadh.

The stadium will have a seating capacity of about 47,000 spectators.

It will host major domestic and international football events, including matches during the 2034 Fifa World Cup.

The scheme is the first of several stadiums expected to be delivered on a PPP basis in preparation for the 2034 Fifa World Cup in Saudi Arabia.

In July, the MoS and NCP announced the winning bidders for the rights to own and operate three sports clubs in the kingdom.

The agreement marks the first time a foreign investor has owned a Saudi football club, with US-based investment firm Harburg Group winning ownership rights to Al-Kholood Football Club.

The club competes in the Saudi Pro League and is based in the city of Ar-Rass, in Al-Qassim province.

Riyadh-based firm Nojoom Al-Salam Holding will assume ownership of Al-Zulfi Football Club. The club is based in Al-Qassim province and competes in the Saudi First Division League, the second tier of the Saudi Arabian football league system.

Medina-based firm Awdah Al-Biladi & Sons acquired ownership of Al-Ansar Football Club. The club is based in Medina and plays in the Saudi Second Division, the third tier of Saudi Arabia’s football league.

Saudi PPP market

The value of PPP contracts in Saudi Arabia has risen sharply over the past two years, as the government seeks to develop projects through the private sector and diversify funding sources.

According to data from regional projects tracker MEED Projects, the value of PPP concession contracts hit an all-time high of $28.2bn in 2023, equivalent to more than 23% of the total value of all project contracts awarded that year. Although this figure fell to 18.3% last year, it was still far higher than the historical average in the kingdom.

The figures are even more striking when considering only government spending.

The value of signed PPP contracts totalled more than one-third of government or government-related project awards in 2023, and more than one-quarter in 2024. This compares to an average of 15.6% between 2019 and 2022, and just 3.5% in 2018.

Government contracts include awards made by ministries, municipalities and royal commissions, in addition to state-funded project clients such as the Saudi Water Authority, National Housing Company and Jeddah Airports Company. Subsidiaries of the sovereign wealth vehicle, the Public Investment Fund – such as Neom and Rua Al-Madinah – are also included.

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Yasir Iqbal

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