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Minister of Sports unveils 'Nafes' platform to boost private sector investment in Saudi Arabia
Published in The Saudi Gazette on 21 - 06 - 2021

RIYADH — Minister of Sports Prince Abdulaziz Bin Turki Al-Faisal, who is also the president of the Saudi Arabian Olympic Committee, launched on Monday the "Nafes" platform to license sports clubs, academies, and private gyms for the first time in the Kingdom.
"The platform, which is in line with the "Quality of Life program," aims to enable the private sector to invest in the sports sector in the Kingdom, and provide opportunities for local and foreign investors to establish and expand clubs, academies and private gyms.
The platform allows investors to issue licenses to achieve the goals of Vision 2030 and diversify economic resources toward building a healthy society.
In the first phase, the platform will include a number of sports, football, basketball, squash, rowing, indoor rowing, gymnastics, judo, taekwondo, karate, jiu-jitsu, wrestling, various martial arts, Equestrian, cycling, fencing, tennis, boxing, Muay Thai, kickboxing, windsurfing, swimming, e-sports, chess, shooting and badminton.
"The sports sector witnessed in the past few years, unprecedented qualitative leaps, which clearly contributed to the growth of the sector by 170 percent in the past three years, in addition to the increase in the number of citizens practicing sports regularly by about 19 percent. The value of the sector increased to SR6.5 billion," Minister of Sports Prince Abdulaziz Bin Turki Al-Faisal said during a virtual ceremony.
"We are inviting the world to partner with us on our journey of sporting transformation. Our country's incredible passion for the sport is well known and, as more get active and take up the sport, the economic opportunity is exciting."
"Nafes is our invitation to overseas partners to drive our sporting investment to the next level and to collaborate across our sports clubs, academies and centers," Prince Abdulaziz said.
He added that: "It's a turning point for the Kingdom's sports sector. Our message to investors and the private sector both in Saudi Arabia and across the globe is direct and clear, establish your clubs, compete and draw the future path of Saudi sports investment."
"The platform will be a turning point in the sports industry in the Kingdom, as it provides the opportunity for the private sector to invest in sports, and contribute to its growth and prosperity, by obtaining the necessary licenses to establish clubs, academies and gyms," he added.


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