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Tuesday, Jun 18, 2024

Saudi Arabia's Sports Boulevard Doubles Investment to $533 Million

Saudi Arabia's Sports Boulevard Doubles Investment to $533 Million

Saudi Arabia's Sports Boulevard Foundation has doubled its investment fund to one dollar 533 million to enhance private sector participation in Riyadh's largest linear park. The project, launched by King Salman and supported by Crown Prince Mohammed, features extensive green pathways and sports facilities across over 135 km. Key partners include Ajdan Real Estate and Albilad Capital.
The Sports Boulevard Foundation has announced the doubling of its private real estate investment fund to SR2 billion (one dollar 533 million), enhancing private sector involvement in Riyadh’s largest linear park.

The additional SR1 billion investment will support the Arts District, a mixed-use lifestyle destination in the project.

Ajdan Real Estate Development Co. and Albilad Capital are among the key partners, with Albilad Capital serving as the fund manager and Ajdan Real Estate as the primary developer.

Situated at the intersection of Prince Mohammed bin Salman bin Abdulaziz Road and Prince Turki bin Abdulaziz Al Awwal Road, the project integrates a substantial area for recreational activities.

Launched by King Salman bin Abdulaziz and supported by Crown Prince Mohammed bin Salman bin Abdulaziz, the Sports Boulevard project spans over 135 km and connects Wadi Hanifah to Wadi Al Sulai.

It features extensive green pathways, sports facilities, and investment zones.
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