Premium Ice & Lifestyle Destination
Ice Pearl Village
Al Khobar
Where Ancient Heritage Meets Eternal Frost
Eastern Province, Saudi Arabia โ $132M Project ยท $15โ21M Equity Opportunity
The Vision
Eastern Province's First Premium Lifestyle Destination
Al Khobar Ice Pearl Village is a $132 million premium lifestyle sports village anchored by the only full-size indoor ice rink in Saudi Arabia's Eastern Province โ a region of 5.1 million people with the Kingdom's highest household incomes and not a single competing climate-controlled ice facility.
Positioned as a government-backed heritage destination on Al Khobar's waterfront within a SAR 2.644 billion regeneration zone, Ice Pearl captures a 2โ3 year first-mover window before SEVEN's mega-projects arrive, delivering 14โ18% Project IRR with 35% EBITDA margins at stabilization.
The project embeds Al Khobar's coral stone architecture into every faรงade, turning heritage compliance into a revenue asset that commands a 20โ30% pricing premium โ the 'Trojan horse' strategy.
5,000+
Years of Civilization
01 โ Market Opportunity
A Massive, Underserved Market
Saudi Arabia's entertainment sector is accelerating toward $4.78 billion by 2030 at 12.4% CAGR, driven by Vision 2030's Quality of Life Program. The Eastern Province โ the nation's wealthiest region generating 22.5% of KSA GDP โ has zero permanent indoor ice rinks and no integrated premium lifestyle destination.
$4.78B
2030 Market Size
12.4%
Annual Growth (CAGR)
5.1M
Population โ Eastern Province
Zero
Indoor Ice Rinks in EP
The Supply Gap
EP captures only 18% of KSA entertainment market
vs. its share of the Kingdom's highest household income at SAR 17,900/month โ a structural under-index
SAR 2โ3B leaks annually to Bahrain
Families cross the King Fahd Causeway for entertainment unavailable in the Eastern Province
SEVEN's EP projects delayed to 2027โ2028
First five SEVEN openings in 2026 are Riyadh, Tabuk, Yanbu, Madinah, Abha โ none in EP
71% of EP population under age 35
Median Saudi age of 25.3 years โ the youngest, most entertainment-hungry demographic in the Kingdom
Eastern Province Advantage
SAR 17,900
Monthly Household Income โ highest in KSA
75,000+
Aramco Employees โ pre-qualified premium base
22.5%
Share of Saudi GDP โ $249B economic engine
5.0%
Annual Population Growth โ 2.4x national rate
02 โ Concept & Differentiation
Three Pillars of Value Creation
Ice anchor drives trial โ sports build habitual weekly visitation โ heritage creates emotional attachment extending visit duration and spend.
Unique Ice Anchor
- Zero competition โ only permanent indoor ice rink in a 600km radius
- Inverted seasonality โ peak demand MayโSept at 45โ50ยฐC (summer refuge)
- NHL-standard facility โ 60mร30m main rink with COโ transcritical refrigeration
- 7 revenue verticals โ public skating, academy, hockey, figure skating, schools, corporate, ice shows
High-ROI Sports & Wellness
- Padel Village โ 8 courts, 25โ40% component IRR at 12.9% global CAGR
- Premium Gym โ SAR 400โ900/month, bridging budget and ultra-luxury
- Corporate wellness B2B โ Aramco's 75K+ employees, $884M KSA market
- FEC โ 3,800 sqm Dilmun-themed family entertainment driving cross-traffic
Heritage Activation
- Coral stone "Trojan horse" โ heritage compliance becomes a pricing premium
- 20โ30% pricing uplift โ validated by Diriyah Gate dining precedents
- SAR 2.644B government regeneration zone โ 1.36M annual tourists by 2030
- Cultural Development Fund eligible โ SAR 2.4B deployed across 340 projects
Unified Membership Ecosystem โ Multi-activity pass holders deliver 3โ5x higher LTV. Gym achieves 80%+ retention โ behaving like a utility, not discretionary spend.
World-Class Facilities
Six Revenue-Generating Destinations
No single stream exceeds 22% of total revenue โ creating recession-resistant diversification. Blended DSCR stays above 1.35x even if any stream underperforms by 30%.
The region's only permanent indoor ice facility
NHL-Standard Ice Rink
4,000โ5,500 sqm with a 60mร30m NHL-standard surface, 500โ800 spectator seats, and a 25m Gulf-facing glass faรงade creating the signature 'skating on the water' experience. COโ transcritical refrigeration delivers 34% energy savings versus conventional systems. Phase 1A anchor โ $27M.
SAR 80โ150
Per Session
7
Revenue Verticals
8 Courts โ 25โ40% Component IRR
Padel Village
4 indoor climate-controlled courts (22โ26ยฐC year-round), 2 covered outdoor, and 2 open courts with sea views. FIP tournament-ready with broadcast lighting, Playtomic booking, and AI cameras. Dedicated women-only courts with 17% higher ARPU. 3-year payback. $11.5M.
12.9%
Market CAGR
50.8%
EBITDA Margin
Filling the Eastern Province gap
Premium Gym & Wellness
3,200 sqm premium fitness and wellness center at SAR 400โ900/month โ bridging the gap between Leejam's SAR 312/month and CORE Social's SAR 34,000+/year. Recovery suite, cryotherapy, and dedicated women's zones. B2B corporate wellness targeting Aramco's 75,000+ employees. $12.5M.
45.2%
EBITDA Margin
80%+
Annual Retention
Grand waterfront venue
Events & Heritage Hall
1,200 sqm column-free hall (expandable to 1,600 sqm) for conferences, weddings, and cultural festivals. Heritage coral-stone architecture commands 15โ30% premiums over hotel ballrooms. "Ice rink as event venue" capability โ unique in the Eastern Province. Naming rights SAR 1โ3M annually. $6M.
55%
EBITDA Margin
SAR 75B
KSA Wedding Market
3,800 sqm Dilmun-themed experiences
Family Entertainment Centre
Arcades, VR zones, trampoline, soft play, and edutainment designed around a 2.3-hour dwell time. Dilmun underwater archaeology theming. RFID cashless system with gamified loyalty app. School partnerships driving weekday utilization. Glazed corridor connects directly to ice rink. $11M.
$5.0M
Year 5 Revenue
38.5%
EBITDA Margin
Waterfront dining with 5,000 years of story
Heritage F&B Quarter
2,400 sqm with Pearl Market Hall food court (12โ15 vendor stalls) and Al-Dilmun heritage fine dining at SAR 150โ250/cover. Coral stone architecture, pearl-diving exhibits, and live heritage cooking validated by Diriyah Gate's 20โ30% pricing premium. Hybrid lease model. $9.5M.
65%
Gross Margin
$4.5M
Year 5 Revenue
03 โ Masterplan
30,000 sqm Waterfront Lifestyle Village
Eight purpose-designed zones on Al Khobar's northern waterfront, within the SAR 2.644B Darin & Al Khobar Development Corporation master plan.
Entry Plaza
Coral stone paving, security, landscaping, grand entrance
Ice Rink Pavilion
NHL-standard rink, spectator seating, lobby, changing rooms, pro shop
Padel Village
8 courts, pro shop, lounge, waterfront viewing deck, coaching office
Premium Gym & Wellness
Fitness floors, recovery suite, cryotherapy, women's zones, spa
Family Entertainment Centre
Arcades, VR, trampoline, soft play, edutainment, 4 party rooms
Heritage F&B Quarter
Pearl Market Hall, Al-Dilmun restaurant, cafรฉs, waterfront promenade
Events & Heritage Hall
Column-free 1,200 sqm grand hall, bridal suite, pre-function terrace
Multi-Level Parking
500 spaces, EV charging, heritage facade, VIP zone
04 โ Financial Projections
$8.1M โ $23.2M Revenue in 5 Years
35.2% EBITDA margin at stabilization. Counter-cyclical diversification across six revenue streams. Positive IRR across all 25 CAPEX ร revenue sensitivity combinations.
Three Scenarios โ Year 5 Stabilized
Conservative
$18.4M
Year 5 Revenue
$4.0M
EBITDA
22%
Margin
6.4%
IRR
Base Case
$23.2M
Year 5 Revenue
$8.2M
EBITDA
35.2%
Margin
13.5%
IRR
Optimized
$28.0M
Year 5 Revenue
$12.6M
EBITDA
45.1%
Margin
17.8%
IRR
Counter-Cyclical Balance
Ice rink peaks in summer (+20% MayโSept) offsetting FEC dip. Events peak OctโMar (68% of Saudi weddings). Net seasonal revenue variance: only ยฑ8% quarterly.
18.4% Break-Even Buffer
Revenue can fall 18.4% below base before NPV turns negative at 10% discount rate. Positive IRR in all 25 sensitivity combinations โ even +20% CAPEX with โ20% revenue still delivers 6.4% IRR.
Membership Moat
Multi-activity pass holders deliver 3โ5x higher LTV. Gym achieves 80%+ annual retention. DSCR of 1.42x at Year 5 โ comfortably above the 1.25x lender threshold.
05 โ The Investment
$15โ21M Equity for 25โ35% Stake
Founding equity partner in Eastern Province's first premium lifestyle destination. Board representation, diversified exit pathways: Year 5 buyback, secondary sale, or REIT conversion.
14โ18%
Project IRR (7-yr hold)
19โ25%
Equity IRR (base case)
25โ35%
Equity Stake on Offer
Q4 2028
Target Grand Opening
Capital Stack โ Four Tiers
Strong EBITDA Yield
Exceeds institutional thresholds with a diversified, recurring-cashflow profile across six revenue streams. Compares favourably to commercial real estate in the Eastern Province.
Government Land JV Upside
Securing land via the Sharqia Development Authority as an in-kind contribution significantly reduces upfront capital and improves equity returns.
Clear Exit Pathways
Multiple exit options at stabilization: Year 5 buyback, secondary sale to institutional investors, or Saudi REIT conversion โ a natural exit channel for income-producing entertainment assets.
Investor Questions
Answers to the questions founding partners ask most โ on timing, competition, and capital protection.
Implementation
42-Month Phased Build to Opening
Three phases matched to contractor capability. Four go/no-go decision gates protect investor capital at every stage. Target: Q4 2028 grand opening โ 1โ2 years before SEVEN EP arrival.
Month 6
Land & Permits
Sign 30-year DBFOMT concession with SDA. EIA clearance + heritage design approval. No construction capital released until this gate clears.
Month 12
Shell & Core 50%
Construction on schedule. No material change orders exceeding 5% of contract value. Performance bonds intact.
Month 18
Ice Plant Live
MEP commissioned. Ice plant achieves -1ยฐC to 2ยฐC for 72 hours. Critical path milestone โ most technically complex item in the project.
Month 24
Phase 1A Opening
Ice Rink + Padel Village operational. Soft opening Q3 2028. Grand opening Q4 2028 โ Phase 1B (Gym, FEC, F&B) follows by Month 36.
Phased CAPEX Deployment โ 42 Months
Phase 1A (49% = $64.5M)
Ice Rink Pavilion, Padel Village, multi-level parking โ Months 1โ24. Revenue starts Month 25.
Phase 1B (33% = $44.2M)
Gym & Wellness, FEC, Heritage F&B, landscaping โ Months 18โ36. Funded by Phase 1A cash flow + $15โ20M additional debt.
Phase 2 (13% = $16.5M)
Events Heritage Hall, waterfront finishing, tech platform โ Months 30โ42. Funded entirely by operational cash flow.
Sensitivity confirmed: Positive IRR in all 25 CAPEX ร revenue combinations. Most stressed case (+20% CAPEX, โ20% revenue) still delivers 6.4% Project IRR.
Exclusive Opportunity
Join Us in Building Eastern Province's Premier Lifestyle Destination
19โ25%
Equity IRR
25โ35%
Equity Stake on Offer
$4.78B
2030 Market Size
Q4 2028
Target Grand Opening
Confidential Investment Proposal โ Al Khobar Ice Pearl Village โ June 2026