But Friday's announcement was quickly denounced by human rights campaigners. DAZN USA also jumped into the fray, tweeting: "The Rematch is Confirmed".
In the past year, the Middle Eastern nation have delved into boxing, hosting two notable bouts with relative success.
Joshua's set to earn a staggering amount of money with Ruiz Jr on a fixed purse of £7.5 million ($9 million) due to contract stipulations.
Joshua is adamant defeat to Ruiz Jr was a "blip" on his path to undisputed glory and is confident their second clash with yield a different result.
"So beating Ruiz, I could be sitting here now and it wouldn't have meant as much to me as it is to train for the rematch".
Joshua and his promoter Eddie Hearn immediately activated their rematch clause and targeted a bout in the United Kingdom but Ruiz Jr responded: "That is not going to happen". Ruiz, on the other hand, was far from the first choice for that bout.
Ruiz ended up giving Joshua the rudest welcome the man could have possibly imagined to American soil. "DONE WITH THIS S***' Controversial four-weight world champ Broner, 30, retires from boxing "NO REAL GAIN" Joshua says MSG boo boys and having one eye on Wilder is why he lost to Ruiz ARABIAN FIGHTS?" Yet if Joshua and Hearn were stunned, the boxing world was shocked, as well. I'd never seen that side of Saudi Arabia before.
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The former unified world welterweight champion is a Muslim and has embarked on pilgrimages to Saudi Arabia on a number of occasions, offering him his own perspective on the country. Joshua will enter the ring with a record of 22-1, while Ruiz will slip between the ropes boasting a record of 33-1.
The New York venue was in the running to host the rematch, as was Cardiff's Principality Stadium, however The Telegraph reports Riyadh has beat them out.