The Ministry of Sports has enabled clubs to invest the land allocated to them and the facilities based on them for a period ranging from five years to 20 years, depending on the nature of the project, to increase their financial income, provided that they adhere to the provisions of the regulation on the investment of allocated land, which was established to regulate the investment process, and to be one of the elements supporting the clubs' achievement of their goals.
The Ministry of Sports stipulated that the investments should not affect the club's facilities, in addition to not building on stadiums and spaces allocated for sports activities, and that the investment plan must be submitted to the ministry for approval.<\/p>\n\n\n\n
Each club is required to implement a number of articles and requirements related to submitting bids, opening bids, examining and awarding bids, drafting contracts and their implementation periods, bank guarantees, investment returns and operational costs, as well as forming an investment committee consisting of five members, three board members and two members with experience in the field of investment.
The duration of the investment contract is determined according to the nature of the project, after the club's approval and the approval of the Ministry of Sports, where the club company has the right to invest the land for five years for white lands without any type of construction, existing facilities owned by the club and existing buildings and facilities vacated by investors, by installing billboards, self-vending machines, ATMs and non-concrete mobile buildings.<\/p>\n\n\n\n
As for contracts up to a maximum of 15 years, sports centers, wedding halls, shops and the like can be established, and contracts up to a maximum of 20 years, land can be invested to establish projects, such as: Hotels, residential apartments, large commercial complexes, and the like.<\/p>\n\n\n\n
It is noteworthy that the Ministry of Sports has taken qualitative and accelerated steps to attract investors and diversify income sources by providing more investment opportunities in the sports sector, as it approved the establishment of a number of companies affiliated with clubs to invest their resources to stimulate the growth of the sports economy and increase the clubs' financial resources, in addition to offering a number of sites belonging to the Ministry of Sports for investment.<\/p>","protected":false},"excerpt":{"rendered":"
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