Imagine a transformative urban development initiative that not only reshapes the cityscape but also opens doors for increased private sector involvement. This is precisely what is unfolding in Riyadh as the Sports Boulevard project, the city’s most extensive linear park, gears up to double its investment fund to a remarkable SR2 billion ($533 million).
The Sports Boulevard Foundation has recently announced its strategic collaboration with Ajdan Real Estate Development Co. and Albilad Capital. This partnership aims to inject an additional SR1 billion into the “Sports Boulevard Real Estate Fund 1,” effectively boosting private sector engagement in the Arts District, a key segment of the Sports Boulevard project.
A Collaborative Vision for Urban Excellence
The Sports Boulevard Development Co. will maintain a significant share of the fund’s units, while Ajdan Real Estate Development Co. steps in as both developer and principal investor. Albilad Capital will manage the fund, marking a concerted effort to foster a vibrant urban environment that enriches Riyadh’s cultural and economic fabric.
This ambitious project is set to create a dynamic mixed-use lifestyle hub, combining residential, retail, office, and entertainment facilities. With a land area exceeding 39,000 sq. m. in the heart of the Arts District, the development boasts a built-up area of approximately 240,000 sq. m., offering over 100,000 sq. m. of net leasable space.
Inspired by the Sports Boulevard Design Code and the Salmani Architectural Style, the design promises an engaging lifestyle experience for both locals and visitors alike. Strategically located at the crossroads of Prince Mohammed bin Salman bin Abdulaziz Road and Prince Turki bin Abdulaziz Al Awwal Road, the area features expansive public spaces, leisure areas, and cyclist-friendly paths.
Redefining Urban Spaces for Active Lifestyles
Spanning 184,000 sq. m., the project extends well beyond private development plots, creating ample opportunities for recreational pursuits and pedestrian-friendly zones, seamlessly connected to a promenade and cycling bridge.
Launched by King Salman bin Abdulaziz in 2019 and supported by Crown Prince Mohammed bin Salman bin Abdulaziz, Sports Boulevard stretches over 135 km along Prince Mohammed bin Salman bin Abdulaziz Road. It offers secure green pathways for pedestrians, cyclists, athletes, and horse riders, linking Wadi Hanifah in the west to Wadi Al Sulai in the east.
Moreover, the project encompasses over 4.4 million sq. m. of greenery and open spaces, featuring up to 50 multidisciplinary sports facilities. It includes several unique destinations and investment zones, covering an area of more than 3 million sq. m.
This grand vision not only aims to enhance the urban landscape but also invites global investors to partake in a venture that promises significant cultural and economic returns, making Riyadh a focal point for innovation and lifestyle excellence.
