March 17, 2025

Binladin International Holding Group (BIHG), through its flagship subsidiary Saudi Binladin
Group, has signed a major contract to develop King Fahd Sports City in Riyadh as part of the
Ministry of Sports’ Stadium Development Program. This project supports the Kingdom’s
preparations for hosting the AFC Asian Cup 2027 and the FIFA World Cup 2034.
The stadium’s capacity will be expanded to 72,000 spectators, and modern facilities will be
introduced in line with global sporting standards. The two-phase development project is
expected to be completed by September 2026.
BIHG has secured SAR2 billion in financing from Saudi Awwal Bank, with a possible increase to
SAR3 billion. The project marks a strategic milestone in BIHG’s contribution to the Kingdom’s
sports infrastructure and reflects ongoing efforts by the Ministry of Finance to enhance financial
stability in the contracting sector.
This award strengthens BIHG’s market position and demonstrates its commitment to
delivering world-class infrastructure that supports Saudi Arabia’s Vision 2030 and global
sporting ambitions.