Riyadh’s Sports Boulevard Project Sees Increased Private Sector Participation with SR2 Billion Investment Fund
The Sports Boulevard Foundation in Riyadh is doubling its investment fund to SR2 billion ($533 million), paving the way for more private sector involvement in the project.
Partnership with Ajdan Real Estate Development Co. and Albilad Capital
The foundation has partnered with Ajdan Real Estate Development Co. and Albilad Capital to add an additional SR1 billion to the private real estate investment fund “Sports Boulevard Real Estate Fund 1.”
Focus on Arts District
The increased funding will focus on bolstering private sector participation within the Arts District, one of the key destinations within the Sports Boulevard project.
Collaborative Effort for Urban Space Enhancement
The Sports Boulevard Development Co., Ajdan Real Estate Development Co., and Albilad Capital are collaborating to create a vibrant urban space that enhances Riyadh’s cultural and economic landscape.
Mixed-Use Lifestyle Destination
The project aims to develop a mixed-use lifestyle destination with residential, retail, office, and entertainment components, covering a land area of over 39,000 sq. m.
Inspired Design and Strategic Location
The design of the destination draws inspiration from the Sports Boulevard Design Code and the Salmani Architectural Style, ensuring a dynamic lifestyle experience. Situated at a strategic location, it offers expansive public spaces, recreational areas, and cycling-friendly tracks.
Mega Project with Green Pathways and Sports Facilities
Sports Boulevard, launched by King Salman bin Abdulaziz in 2019 and supported by Crown Prince Mohammed bin Salman bin Abdulaziz, spans over 135 km and includes safe green pathways for pedestrians, cyclists, athletes, and horse riders. The project features over 4.4 million sq. m. of greenery, open spaces, and up to 50 sports facilities, making it a unique destination for residents and visitors alike.