How Much Did The Jeddah Circuit Cost?

How much did the Jeddah Circuit cost? Saudi Arabia has never published an official construction figure for the Jeddah Corniche Circuit, though it does pay Formula 1 an estimated $55 million a year for the right to host the Saudi Arabian Grand Prix there. The two numbers get mixed up constantly online, including a widely repeated $500 million construction estimate that actually describes an entirely different, still unfinished circuit.

• Saudi Arabia’s hosting fee for the Grand Prix is estimated at $55 million a year, close to Bahrain’s $52 million.
• No official construction cost for the Jeddah Corniche Circuit has ever been published. The $500 million figure often attached to it actually belongs to Qiddiya, a separate circuit still being built.
• The 2026 Saudi Arabian Grand Prix was cancelled entirely due to regional conflict, and Jeddah’s long term future depends on when its replacement circuit opens.

How Much Does Saudi Arabia Pay To Host F1?

Saudi Arabia’s promoter pays Formula 1 roughly $55 million a year for the right to host a round of the championship at Jeddah, according to sports business publication BlackBook Motorsport. That sits comfortably within the modern going rate for an F1 date, which now regularly clears $50 million a year as more countries compete for a race slot.

Neighbouring Bahrain, one of F1’s earliest Gulf hosts, pays a slightly lower $52 million a year for its own round. Both fees run under multi-year hosting contracts with Formula One Management rather than being fixed once and left alone, and they typically increase over the life of each deal.

How Much Did The Circuit Actually Cost To Build?

The construction cost of the Jeddah Corniche Circuit itself has never been officially disclosed, by Saudi Arabia or by Formula 1. What is documented is the build process. Saudipedia, Saudi Arabia’s state reference platform, records that fifty local and international contracting firms worked on the project, completed it in eight months, and logged “millions of work hours” without a serious injury on site.

A $500 million figure attached to Jeddah circulates widely, and it does not hold up. That number traces back to reporting on Qiddiya, a separate, purpose built circuit near Riyadh that Saudi Arabia is constructing for a future Grand Prix, not the temporary street circuit racing has used since 2021.

Designed by Carsten Tilke, son of veteran F1 circuit architect Hermann Tilke, Jeddah remains one of the fastest circuits ever built for Formula 1, finished in well under a year. Without an official cost breakdown, the honest answer to what it cost is that nobody outside the project has said.

What Does The Jeddah Circuit Look Like?

The circuit runs 6.174 kilometres along Jeddah’s Red Sea coastline, making it the second longest circuit on the Formula 1 calendar. Only Spa-Francorchamps runs longer, and Jeddah’s 27 corners, more than any other current circuit, are taken at such speed that several barely register as corners at all.

Cars average around 245 km/h over a lap, among the fastest average speeds of any street circuit on the calendar. Lewis Hamilton holds the lap record, a 1:30.734 set in the circuit’s debut race in 2021.

Why Was The 2026 Saudi Arabian Grand Prix Cancelled?

Formula 1 cancelled the 2026 Saudi Arabian Grand Prix, along with the Bahrain round scheduled the week before, on 14 March 2026. The decision followed an escalation in the wider Middle East conflict, after Iran launched strikes against American and Israeli targets that reached Gulf states hosting both races.

F1 president Stefano Domenicali called the cancellations “a difficult decision” but “the right one at this stage considering the current situation,” reasoning built around the safety of personnel rather than any issue with either circuit. No replacement events were added, leaving a gap of several weeks in the calendar between the Japanese and Miami rounds.

The financial cost was significant. Analysis by Guggenheim Partners put the combined loss from both cancelled races at roughly $190 to $200 million in revenue and about $80 million in earnings before interest, tax, depreciation and amortisation, a hit spread across hosting fees, sponsorship and broadcast revenue.

Is Jeddah Being Replaced By A New Circuit?

Jeddah’s long term future on the calendar already has an answer, just not an immediate one. Saudi Arabia is building a purpose built circuit at Qiddiya, roughly 30 miles outside Riyadh, designed with F1 circuit architect Hermann Tilke and Grand Prix Drivers’ Association chair Alex Wurz, intended to eventually host the Saudi Arabian Grand Prix in Jeddah’s place.

Qiddiya’s Speed Park track carries an estimated construction cost of $480 million, according to Middle East business publication MEED, well above anything ever credibly attached to Jeddah. Its centrepiece is a 70 metre high opening corner nicknamed “the Blade,” and the circuit is not expected to be race ready before 2027.

Saudi Arabia’s contract for the Jeddah venue runs until Qiddiya opens, but officials have not ruled out running both. Prince Khalid bin Sultan al-Faisal, chair of the Saudi Motorsport Company, has argued Jeddah and Riyadh serve different regions and markets, leaving open the possibility Saudi Arabia could host two grands prix a year once Qiddiya is finished.

What Does The Race Mean For Saudi Arabia’s Economy?

Beyond the fees and construction bills, Saudi Arabia has put a number on what hosting the race is worth to the country directly. Tourism minister Ahmed Al Khateeb has said the Grand Prix has drawn visitors from 160 countries since its 2021 debut, generating around $240 million in economic impact and supporting 20,000 jobs across a single race weekend.

That sits inside Saudi Arabia’s wider Vision 2030 strategy, which leans on major sporting events to diversify an economy still heavily built around oil. The Grand Prix is one part of a broader push that also includes LIV Golf events in Jeddah and the country’s efforts to build a permanent motorsport identity around Qiddiya.

Sources

• F1 confirms cancellation of Bahrain and Saudi Arabian Grands Prix due to war in Middle East as 2026 calendar reduced to 22 races – Sky Sports
• Formula One counts cost of cancelled Grand Prix weekends in Bahrain and Saudi Arabia – The National
• Jeddah Corniche Circuit – Saudipedia
• Jeddah Corniche Circuit – Wikipedia
• How Saudi Arabia has sights set on F1 summit with $480m ‘Rainbow Road’ Qiddiya track – Yahoo Sports

Article reviewed and updated by Jack Renn, August 2026.

More F1 Reading

• How F1 Fans Can Join The Spirit Of Competition From Home
• Apple Secures Exclusive Formula 1 Rights As Services Revenue Hits Record High
• Derek Warwick Suspended From Canadian GP Stewarding Duties
• F1’s Biggest Movers and Shakers After Barcelona Test