Riyadh - Sharikat Mubasher: The Events Investment Fund (EIF), launched by Crown Prince and Prime Minister, Mohammed bin Salman, under the National Development Fund (NDF), plans to develop 20 projects in Riyadh and Jeddah with investments worth nearly SAR 8 billion within the next five years, according to CEO Wahdan Alkadi.

The planned projects will include conference and exhibition centers, arenas, shooting ranges, and art galleries, Alkadi stated in an interview with Alarabiya on the sidelines of the Development Finance Conference (MOMENTUM 2025).

He clarified that the private sector will contribute up to 50% of the projects’ investments, while the EIF will secure the rest.

The CEO noted that the Riyadh Shooting Range, EIF’s first landmark project, will be implemented in partnership with the private sector, with EIF securing 70% of the project’s investments.

Spanning 457,000 square meters, the Riyadh Shooting Range will elevate Saudi Arabia’s sports and entertainment infrastructure, contributing to Vision 2030's Quality of Life program by creating over 2,300 jobs and attracting 400,000 visitors annually.

Alkadi further revealed that the EIF forged a strategic partnership with Legends Global, the world’s leading operator of event and sports venues, to shape the future of the events industry in Saudi Arabia. Signed during MOMENTUM 2025, the agreement marks a pivotal step in Saudi Arabia’s journey to become a global destination for world-class events, entertainment, and business gatherings.

Launched in 2020, the EIF is mandated to build, own, and operate permanent, world-class event venues across Saudi Arabia. Its mission focuses on transforming the Kingdom’s events ecosystem by replacing temporary structures with sustainable, future-ready arenas, exhibition centers, cultural venues, and entertainment facilities.