INTERNATIONAL_ The joint venture between the smart city project and the Dubai-based media company aims to create the “first AAA game studio”.
Saudia Arabia’s ambitious tech hub city-building project Neom has announced a joint venture with media firm MBC Group to create what it calls the “first AAA game development studio in the region” “.
No individual developers are involved in the project yet, but Neom says the studio is “currently looking for developers from around the world” and will focus on media communications for Neom next year.
“We know that there is an increasing convergence between games and the broader media sector, so by building on one, we are helping the other grow,” said CEO. Neom, Nadhmi Al-Nasr said.
“Establishment of this studio creates future-proof career paths and employment opportunities in an environment that fosters creativity, entrepreneurship and talent development, aligned with our vision. of Saudi Arabia 2030”.
While Neom aspires to develop the Saudi Arabian game industry, it is the hub of development.
In 2020, they were announced as main sponsors of the Summer League of Legends European Championship, but that sparked a backlash due to Saudi Arabia’s human rights record and allegations that Saudi authorities block Neom construction. Riot Games canceled its partnership with Neom a day after the announcement.
Recently, the National Wealth Fund (PIF) of Saudi Arabia recently spent more than $1.2 billion to buy about 5% shares of Capcom and Nexon. Shares of Capcom, Nexon rose after the fund disclosed its holdings. PIF has a $500 billion investment fund that has been building stakes in video game and eSports makers over the past two years.
It started buying back about 37.9 million shares of Activision Blizzard at the end of 2020, but was bought back by Microsoft.