The Sports Boulevard Foundation, with Ajdan Real Estate Development Company and Albilad Capital, will double the value of the private real estate investment fund, currently valued at SAR 1 billion, by an additional SAR 1 billion. This will be utilized to increase the private sector participation within the Arts District, one of the Sports Boulevard project destinations.
The Sports Boulevard Development Company will remain the major unit holder in the fund, with Ajdan Real Estate Development Company as a developer and primary investor, while Albilad Capital is the fund manager. This partnership underscores the collaborative effort behind the expansion and signifies a strategic alliance aimed at creating a vibrant and dynamic urban space that enhances the cultural and economic landscape of Riyadh.
The project aims to develop a mixed-use lifestyle destination consisting of residential, retail, office, and entertainment components. Spanning over a land area of more than 39,000m2 within the heart of the Arts District, the total combined built-up area is approximately 240,000m2, with over 100,000m2 of net leasable area.
The total combined built-up area is approximately 240,000m2
The destination design style is driven by the Sports Boulevard Design Code, which is inspired by the Salmani Architectural Style. This spectacular destination promises a dynamic and immersive lifestyle experience for residents and visitors alike.
The Sports Boulevard is one of Riyadh’s mega projects
The Art District is located at the intersection of Prince Mohammed bin Salman bin Abdulaziz Road with Prince Turki bin Abdulaziz Al Awwal Road. The project extends beyond the private development parcels, spanning an area of 184,000m2. Offering an enchanting public realm distinguished by its humanizing city directions such as recreational activities, spacious pedestrian spaces, and cycling-friendly tracks, utilizing efficient mobility, seamlessly connected to the promenade and the cycling bridge.
The Sports Boulevard is one of Riyadh’s mega projects launched by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz on 19 March 2019. The project extends for more than 135km on Prince Mohammed bin Salman bin Abdulaziz Road, connecting Wadi Hanifah in the west with Wadi Al Sulai in the east through a grid of safe green pathways for pedestrians, cyclists, athletes, and horse riders. The project includes more than 4.4 million square meters of greenery and open spaces and up to 50 multidisciplinary sports facilities. In addition, there are several unique destinations and investment zones, totaling an area that exceeds 3 million square meters.