Saudi Arabia’s Events Investment Fund (EIF) announced a joint venture with venue management firm Legends Global. The joint venture will deliver management services exclusively for the EIF-developed convention centers and entertainment venues.
The first of three Riyadh venues under the agreement will be a shooting range, followed by a convention centre and an arena.
EIF CEO Wahdan Suliman Alkadi described the joint venture as a “defining moment for Saudi Arabia’s events sector,” adding that it builds the “foundation for a sustainable, globally competitive industry.”
The EIF is making progress to deliver on its 2019 commitment to deliver 35 venues across the kingdom, including indoor arenas and conference centers, closely linked to the economic goals of its Vision 2030 blueprint.
Legends Global CEO Dan Levy called it a “once-in-a-generation opportunity to help shape the future of Saudi Arabia’s events industry” and promised to “deliver a bold vision that benefits citizens and residents while attracting millions of visitors.”
The announcement came just weeks after competing global venue management firm, Oak View Group (OVG), announced the establishment of new regional offices in Saudi. The company is set to manage the future Diriyah Arena, part of the Diriyah project.
OVG was one of several companies announcing the launch of new Saudi events and offices at November’s International MICE Summit, in line with the enforcement of Saudi Arabia’s Regional Headquarters (RHQ) that limits access to government contracts to companies with offices in the country.
The Growth of Legends Global
Legends Global manages more than 450 venues worldwide along with ticketing, merchandising and catering services. It is the result of the merger of venue management group ASM Global and stadium operations company Legends. ASM Global itself was formed from the merger of AEG Facilities and SMG. Global investment firm Sixth Street is the majority shareholder of Legends Global, along with co-founders YGE Holdings, LLC, an affiliate of the New York Yankees, and Jones Concessions LP, an affiliate of the Dallas Cowboys.
In March 2024, ASM Global signed a deal to operate and manage the King Abdullah Financial District (KAFD) Conference Center in Riyadh. The firm has also been appointed as the operator of the yet-to-open Jeddah Arena and the International Convention Centre Jeddah. Elsewhere in the region it manages the Exhibition World Bahrain, Dubai’s Coca-Cola Arena, and the Oman Convention & Exhibition Centre.
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