Saudi Arabia has unveiled an ambitious initiative to construct a new state-of-the-art racecourse in Qiddiya City, designated to be the permanent venue for the Saudi Cup, the highest-paying horse race globally with a prize fund of £14 million. This racecourse will be part of a broader strategy to develop Qiddiya City as a premier tourism hub that encompasses various sporting, cultural, and entertainment attractions, marking a significant investment in the future of horse racing in the region.

The announcement comes in conjunction with the upcoming Saudi Cup being held at the King Abdulaziz racetrack in Riyadh, which has hosted the event since its inception in 2020. Abdullah Aldawood, the managing director of Qiddiya Investment Company, emphasized the project as a reflection of their ambition to create exceptional experiences in racing, including considerations for equine welfare, fan engagement, and hospitality services, showcasing Saudi Arabia’s commitment to elevating its global presence in sports entertainment.

By relocating the Saudi Cup to Qiddiya City, Saudi Arabia aims to enhance its profile on the international sporting stage and attract tourists and horse racing enthusiasts from around the globe. This move aligns with the country's broader vision to diversify its economy through tourism and entertainment sectors, effectively positioning Qiddiya City as a landmark destination poised for significant future developments in line with the kingdom’s socio-economic goals.