Yesterday, a news report revealed that the management of Al Hilal Saudi Club made an offer to rent the King Saud University Stadium in Riyadh for a period of seven years, through an envelope delivered to it through its own company, Al Hilal Investment Company.
The day before yesterday, the deadline set by the university for submitting the envelopes, ended by the parties wishing to rent or invest the stadium.
The Saudi newspaper, Al-Riyadiah, said that private sources revealed to them that the envelopes would open in the presence of a committee from the Ministry of Finance, and representatives of the bidders, to choose the best offer according to what King Saud University sees, based on the material, technical and investment aspects, and the duration of the contract.
The sources pointed out that the official documents of the applicants will be subject to review and scrutiny, by a specialized technical committee, before announcing the final winner of the tender, and this will take several days, before the final approval according to the formal procedures followed.
Only Al Hilal Club, the Saudi Alwasail Company affiliated to Mohammed Abdul-Ilah Al-Khuraiji, businessman and CEO of the Arab Advertising Company, was able to benefit from the stadium.