Saudi authorities are also planning to establish an esports academy as part of the NEOM smart city development.
Saudi Arabia’s General Authority for Competition (GAC) has approved a project to implement, manage, operate and develop a video game studio in NEOM.
The joint venture between NEOM and MBC Initiatives – which is wholly-owned by MBC Group Holding Ltd – will be the first AAA video gaming project in the Middle East.
The authority gave approval to the economic concentration process between the two entities following a study of the Kingdom’s video game market and the issues concerning competition in the sector.
The study concluded that the entry of a new player will lead to healthy competition in the Saudi market.