Saudi Arabia has unveiled design plans for the King Salman Stadium, a 92,000-capacity facility in Riyadh set to stage the opening match and the final of the 2034 World Cup.
The Saudi sports ministry unveiled a promotional video made with computer-generated imagery to offer a first look at the stadium which is scheduled to be completed in 2029.
The Populous-designed stadium is set to serve as the main base of the Saudi Arabia national team and will be part of a sports complex featuring an indoor sports hall, an Olympic-sized pool and other facilities
The main stadium will have a gross seating capacity of more than 92,000, with amenities including a royal box, hospitality skyboxes and lounges, 300 VVIP seats, and 2,200 VIP seats. The venue will feature internal screens, gardens and a walking path on its roof with panoramic views of King Abdulaziz Park.
"The 2034 World Cup is our invitation to the world to witness Saudi Arabia's development, experience its welcoming society, culture and heritage and become part of its history," said Saudi Arabia Football Federation president Yasser Al Misehal.
"Fans can look forward enjoying a maximum of only, I would say, three hours flying time between cities and stadiums while exploring our mountains, our islands, and of course our culture. Everything will be connected with state-of-the-art facilities to guarantee an amazing fan experience."
Shireen Hamdan, general manager of Populous KSA, said: “The King Salman Stadium and Masterplan is an innovative, iconic destination that will harmoniously blend the realm of sports with the beauty of nature. Beyond creating advanced sports facilities, the development aims to unite athleticism and the environment, inspiring all who engage with it.
“To achieve this, the design teams have drawn direct inspiration from nature’s patterns and elements. The design philosophy reflects a commitment to cutting-edge infrastructure while paying tribute to the intrinsic connection between sustainable development, human activity and the natural world.”
Though still to be confirmed by Fifa as the 2034 World Cup hosts, Saudi Arabia are the sole bidders for the tournament. The bid process is scheduled to conclude in December when Fifa officially announces the host nation of the 2034 tournament during its general assembly meeting.
After Morocco, Portugal and Spain were earmarked to share the hosting rights for the 2030 tournament, football's world governing body limited the 2034 tournament hosting rights to bidders from the Asian and Oceania confederations.
Saudi Arabia is looking to become the second country from the Middle East to hold the tournament after Qatar in 2022.
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What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
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Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
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"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
