Saudi Press

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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.


of land and approximately 240,000 sq.


of total built-up area.

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


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.


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.


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.

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