Dubai Media Office and TECOM Group have jointly announced Dubai X-Stadium, the region’s first dedicated esports stadium which will establish Dubai as a regional and global hub for hosting video gaming events.

The joint initiative was endorsed by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and chairman of the board of trustees of Dubai Future Foundation under the Dubai 10X initiative.

Dubai X-Stadium is set to tap into the $99.6 billion video gaming industry. Esports events lie at the convergence of the media, gaming, and entertainment industries.

Global revenues are estimated to reach $1.5 billion by 2020 and Dubai X-Stadium will be positioned to play a central role by hosting world-class esports events, a statement said.

"We are living in a world where digital culture is reshaping all aspects of life, including sports. This has led us to develop the concept of Dubai X-Stadium, which will consolidate Dubai's status as a key digital economy hub," said Mona Ghanem Al Marri, director general of the Dubai Media Office.

"The idea aims at attracting millions of esports gamers, spectators and enthusiasts from around the world and offering them unique on-line and in-person experiences.”

Malek Al Malek, CEO, TECOM Group added: "TECOM Group, a member of Dubai Holding, is proud to take part in conceptualizing the Dubai X-Stadium, where we seek to attract and harness the creativity, talent and innovation of young generations, which is largely in line with our strategic vision in TECOM Group."