Saudi Arabia seeks private investors for 2034 World Cup stadium

Saudi Arabia has begun seeking private investment to help finance the construction of one of the key venues for the 2034 FIFA World Cup, as the kingdom looks to ease mounting fiscal pressure amid its ambitious infrastructure drive.

According to a Reuters report, state-owned real estate developer Roshn Group has appointed US investment bank JPMorgan to lead the fundraising process for the Aramco Stadium in Al Khobar, one of the tournament's flagship venues.

The move comes as Saudi Arabia faces growing budgetary pressure from lower oil prices and rising public spending, prompting the government to expand private-sector participation in major tourism, sports and infrastructure projects.

The 47,000-seat Aramco Stadium is scheduled for completion by the end of this year, with its first match expected to be staged in January next year. While Roshn is developing and owning the stadium, state energy giant Saudi Aramco will operate the venue under a 25-year concession agreement.

Sources familiar with the matter told Reuters the deal is expected to follow a lease-and-leaseback structure. Under the arrangement, Roshn would establish a special-purpose entity to attract investors, who would receive returns from a share of Aramco's long-term lease payments. The proceeds would provide Roshn with fresh capital for future projects.

The investment push forms part of Saudi Arabia's broader Vision 2030 strategy, under which the kingdom has poured billions of dollars into global sports, including football, Formula E, boxing, tennis and esports.

Hosting the 2034 FIFA World Cup is regarded as one of the flagship projects of the kingdom's economic diversification plan. Saudi Arabia is preparing 15 stadiums across five cities, along with 132 training facilities, for the expanded 48-team tournament.

The Gulf nation will become the first country to stage a 48-team FIFA World Cup as the sole host, although rising costs and delays in several mega projects have intensified efforts to bring private investors into its World Cup infrastructure programme.