Saudi Developer Seeks Investors for 2034 World Cup Stadium

Saudi Arabia’s state-backed ROSHN Group is seeking investors for the Aramco Stadium, one of the venues planned for the 2034 World Cup.

Three sources told Reuters that the Public Investment Fund-owned developer is exploring an investment deal to release capital for other projects under Saudi Arabia’s Vision 2030 programme.

ROSHN have appointed JPMorgan to oversee the equity fundraising process, two of the sources said. PIF and ROSHN have also begun testing investor interest in the stadium.

The 47,000-capacity stadium is under construction in Al Khobar and is expected to be completed by the end of 2026. It is scheduled to host its first match in January.

ROSHN own and developed the venue, while the state-owned oil company Saudi Aramco will operate it under a 25-year concession.

The proposed transaction could use a lease-and-leaseback structure similar to deals previously completed for Aramco’s pipeline assets.

Under that model, ROSHN would establish a company controlling the stadium’s leasehold and sell part of it to outside investors.

The investors would provide capital upfront and receive a share of Aramco’s long-term lease payments. ROSHN could then redirect the released funds towards its other developments.

The fundraising effort comes as Saudi Arabia seeks more private investment for the infrastructure required to host the FIFA World Cup.

The kingdom plans to build or renovate 15 stadiums across five cities, alongside 132 training grounds. The 2034 tournament will also be the first expanded 48-team World Cup staged by a single host country.

However, lower-than-expected oil revenues and heavy spending on large development projects have placed pressure on government finances.

Saudi Arabia seeks private capital and asset sales to address delays in Vision 2030 projects. Moreover, the search for Aramco Stadium investors follows reports of tighter spending across the Saudi Pro League.

KingFut reported this week that Saudi clubs were preparing for possible contractual disputes over player wages after substantial budget reductions.

Club officials are said to fear that previously agreed contracts could exceed their revised financial allocations, potentially leading players to pursue claims over unpaid salaries or breached agreements.

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