News

Saudi Arabia Unveils World’s First Gaming And eSport District

The site at Qiddiya will host global events and attract 10 million visitors annually with gaming-themed accommodation and 100,000 sqm of entertainment.

Published

7 months ago

December 15, 2023

Nour Nasir

saudi arabia unveils world's first gaming and esports district

Saudi Press Agency

Saudi Arabia has revealed plans to create the world’s first dedicated gaming and eSports district at Qiddiya City. The project aims to propel the Kingdom into the thriving professional eSports scene.

In the heart of Qiddiya City — 40 km from the capital Riyadh — the new gaming district will be centered around four eSports venues designed to host prominent events and attract up to 10 million visitors yearly, the state news agency SPA announced.

saudi arabia esport district 1

The Gaming & eSports District launch comes after Saudi Crown Prince Mohammed bin Salman’s support for the sector demonstrated through a “National Strategy” and initiatives, including talent development programs and targeted investments. The district, with its widespread appeal to over two-thirds of the Saudi population, aims to “engage and inspire”.

saudi arabia esport district 2

Abdullah bin Nasser Aldawood, the Managing Director of Qiddiya Investment Company, explained: “The gaming and eSports sector is experiencing rapid growth, and we observe the ambitious plans to propel it forward. Our responsibility will be to host major events and tournaments by enhancing the infrastructure, enabling Qiddiya City to invite the world to live, learn, and compete in gaming and eSports. The gaming and eSports district in Qiddiya City caters to eSports professionals and gaming enthusiasts of all levels and ages. This district transforms the gaming world into a tangible reality, serving as a welcoming space for the gaming community”.

Also Read: The Middle East Is Rapidly Becoming An eSports Hub

The 500,000 square meter site will boast four gaming arenas with a total capacity of 73,000 seats. The largest of the venues is planned to have a capacity of 5,300, making it one of the biggest eSports stadiums in the world. The district will also be home to up to 25 eSports clubs, with 100,000 square meters allocated to retail, dining, and entertainment. When completed, Qiddiya City will allow gamers to live, work, and play, even offering gaming-themed apartments and hotels.

Related Topics:eSports Gaming Saudi Arabia

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Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

18 hours ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.