Qiddiya showcases new race track project in project update
Saudi-based Qiddiya Investment Company (QIC) announced the creation of a new racetrack within the expansive Qiddiya City project.
Admittedly this project is outside the scope of the NEOM geography, but we thought this would be an ideal update to the project via ourselves.
The project is designed to position Saudi Arabia at the forefront of global motorsport venues and to rival Grand Prix in other regional countries, including Bahrain and Azerbaijan.
A central feature in the design is a dedicated motorsports zone, incorporating some of the most iconic design elements from the racing world in one location in Saudi Arabia.
The innovative Speed Park Track, marrying state-of-the-art technology with functionality and a unique visitor experience, aims to attract a lineup of the world's most elite racing events, according to QIC.
Abdullah Aldawood, Managing Director of QIC, said, "The Speed Park Track symbolises the essence of Qiddiya's 'power of play' ethos and establishes Qiddiya City as the hub for motorsport in Saudi Arabia and a premier destination globally."
The track, designed by Austrian ex-Formula One racer Alex Wurz and renowned German track architect Hermann Tilke, is the latest high-profile project in the country’s Vision 2030 plan which aims to see the country quickly move away from oil and gas revenues.
Entertainment City
However, Qiddiya Entertainment City, the ambitious mega-project unveiled in 2018, appears to be facing delays in its initial development phases.
The original plans envisioned the first phase's completion by 2022 and the opening of the highly anticipated Six Flags theme park by 2023. However, these milestones have yet to be achieved, raising questions about the project's timeline.
Interestingly, Qiddiya's potential as a sports epicentre could receive a significant boost if Saudi Arabia succeeds in its bid to host the 2034 FIFA World Cup.
As the sole contender thus far, the kingdom's ambitions to host the prestigious event could align seamlessly with the Qiddiya development, positioning it as a premier sports and entertainment destination.
One advantage Qiddiya enjoys is the financial backing of Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF).
With assets estimated at around $700 billion, the PIF serves as a safety net for this and other ambitious mega-projects within the kingdom. From the Red Sea archipelago tourism site to ski resorts, the PIF is actively pumping capital into transformative initiatives aimed at diversifying the country's economy and enhancing its global standing.
