Saudi Press

Saudi Arabia and the world
Tuesday, Jun 18, 2024

Sports Boulevard Foundation Doubles Investment Fund to SR2 Billion for Private Sector Partnership

Sports Boulevard Foundation Doubles Investment Fund to SR2 Billion for Private Sector Partnership

The Sports Boulevard Foundation, which is behind Riyadh's largest linear park project, is increasing its investment fund from SR1 billion to SR2 billion ($533 million) through a partnership with Ajdan Real Estate Development Co. and Albilad Capital.
The additional funding will be used to boost private sector participation in the Arts District of the Sports Boulevard project.

The Sports Boulevard Development Co. will still hold the majority of units in the fund, while Ajdan will serve as the developer and primary investor, and Albilad Capital will act as the fund manager.

This collaboration signifies a strategic alliance aimed at creating a vibrant urban space that enhances Riyadh's cultural and economic landscape.

The project is a mixed-use development in the Arts District, spanning over 39,000 sq.

m.

of land and approximately 240,000 sq.

m.

of total built-up area.

It includes residential, retail, office, and entertainment components, with over 100,000 sq.

m.

of net leasable space.

The design is inspired by the Sports Boulevard Design Code and Salmani Architectural Style, offering a dynamic and immersive experience.

The project features expansive public spaces, recreational areas, and cycling-friendly tracks, with 184,000 sq.

m.

dedicated to recreational activities and pedestrian-friendly pathways.

It is located at the intersection of Prince Mohammed bin Salman bin Abdulaziz Road and Prince Turki bin Abdulaziz Al Awwal Road.

King Salman's 2019 project, Sports Boulevard, is a 135 km development along Prince Mohammed bin Salman Road.

It offers safe paths for pedestrians, cyclists, athletes, and horse riders, connecting Wadi Hanifah and Wadi Al Sulai.

The project includes 4.4 million sq.

m.

of greenery, open spaces, and 50 sports facilities.

Unique destinations and investment zones, totaling over 3 million sq.

m., are also part of this mega project.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Good day, everyone! We've got a lively mix of stories today, from financial recoveries and international sanctions to...
Giorgia Meloni Comments on Israel's Conflict and EU's Stand on Ukraine Loan
Israel Plans Tactical Pause For Aid Deliveries in South Gaza
Giorgia Meloni Comments on Israel's Conflict and EU's Stand on Ukraine Loan
Over 1.5 Million Pilgrims Arrive in Mina for Hajj
Japan Considers Sanctions on UAE-Based Entities for Aiding Russia
Global Headlines: Pope’s Plea on AI, Tensions in Ukraine, and Japan’s Sanction Strategy
Houthi Missile Attack Severely Injures Sailor on Cargo Ship
Iran Expands Nuclear Capabilities: IAEA Report
Saudi Hospitality Sector to Grow by 7.5% Annually Until 2028
Ceer and Hyundai Transys Sign $2 Billion Deal for EV Drive Systems
Israel Rescues Four Hostages from Gaza
Turkish Student Arrested for Using AI to Cheat in University Exam
Saudi Arabia Dominates Global Construction with $1.5 Trillion Pipeline
Fortis Expands Fintech Solutions to Saudi Arabia's SME Sector
Saudi Arabia's Industry 4.0 Initiative and Vision 2030
Saudi Arabia's Booming Automotive Market
"Saudi Stock Market Recap: Tadawul Dips While Nomu Surges"
"Saudi Arabia's Economic Growth Soars: Gross Fixed Capital Formation Surges by 7.9%"
"Saudi Arabia Tops Global Mining Investment Rankings: A New Era of Mineral Prosperity"
"Saudi Arabia's Record-Breaking Year in Travel & Tourism: A Global Tourism Hotspot in the Making"
Saudi Foreign Minister Attends BRICS Ministerial Meeting in Russia
"Saudi Arabia's New Workplace Safety Measures: A Summer of Shade for Private Sector Workers"
"King Salman Welcomes Over 2,300 Pilgrims for Hajj, Including 1,000 Palestinians"
"A Miraculous Birth at the Heart of the Hajj: A Nigerian Pilgrim Gives Birth in Makkah"
"Camel Culture: A Comparative Study Across Three Countries"
"Oil Prices on the Rise: Goldman Sachs Predicts a Third-Quarter Surge"
"Saudi Arabia's Finance Sector Thrives: A 13% Asset Surge in 2023"
Egypt's Inflation Rate Drops Surprisingly in May
"Saudi Aramco Remains Top Company in Forbes Middle East's Top 100 List for 2024"
"Saudi Arabia's Maritime Sector Soars: A 8.09% Increase in Cargo Handling"
"Qatar's Export Growth Soars in Q1 2024: A 6% Increase in Private Sector Exports"
"Saudi Arabia Achieves Tourism Milestones: A Giant Leap Towards Global Leadership"
"Saudi Arabia's Mining Sector Soars: A New Industrial Pillar"
"Saudi Arabia's Industrial Growth: A Boost in Manufacturing and Mining Sectors"
"Indonesia Launches TB Vaccine Trials to Combat Soaring Cases and Boost Economic Growth"
Tragic Attack in Indian-Controlled Kashmir: Nine Killed, Thirty-Three Injured
"India's Record-Breaking Heatwave: A Warning from the Weather Experts"
"Urgent Update: Devastating Floods and Landslides in Northern Vietnam"
"IOC President Assures Unwavering Support for Paris 2024 Amidst French Political Upheaval"
"Breaking News: Paris Chanel Store Ram-Raid and Fire"
"Ukraine's Reconstruction Chief Resigns: A Decade of Service and Frustration"
Tragic Attack in Yargoje, Nigeria: Over 50 Lives Lost and Many Kidnapped
"Violent Clash in Central Somalia: 55 Dead and 155 Injured"
Urgent Appeal for Peaceful Dialogue: Australia's Prime Minister Addresses Israel-Palestine Tensions
"Revival in Mosul's Old City: A Journey from Daesh's Stronghold to Cultural Renaissance"
"U.S. Secretary of State Blinken Pursues Ceasefire in Gaza"
"UAE Cracks Down on Unwanted Cold Calls: New Regulations Announced"
Turkish Foreign Minister Hakan Fidan Meets Hamas Leader Ismail Haniyeh at GCC High-Level Strategic Dialogue in Doha
Exclusive Interview with Daesh Widow: Allegations of Torture against Former Leader Abu Bakr Al-Baghdadi
×