Sports Boulevard Launches $186M Urban Wadi Fund
Riyadh's Sports Boulevard has announced a new private real estate investment fund exceeding US$186 million (more than SAR 700 million) dedicated to private assets within Urban Wadi, a mixed-use destination in the Hittin district of the capital.
The closed-ended private fund is the third real estate investment fund launched under Sports Boulevard, lifting the combined value of its signed funds to more than US$1.6 billion (over SAR 6.2 billion). Its primary asset is the development of a luxury five-star hotel on a 13,500 square-metre site, with a gross floor area of roughly 34,400 square metres.
Urban Wadi is a mixed-use destination located along the 135-kilometre Sports Boulevard corridor. It brings together sport, nature, entertainment, hospitality, retail and community spaces, with planned sports facilities, leisure areas, restaurants, family amenities, event spaces, a water canal and shaded pathways. A 4.5-kilometre water canal with sustainable water recirculation is set to run through the destination, framed by greenery, pedestrian and cycling paths, sports courts and play areas.
The hotel fund is managed by Al Jazira Capital, with Rikaz Properties as developer and co-investor. A separate closed-ended fund exceeding SAR 3.5 billion is dedicated to the Urban Wadi High-Rises, delivering a gross floor area of about 207,000 square metres on a land area of some 40,000 square metres under the Sports Boulevard Design Code inspired by Salmani architecture. That fund is managed by Jadwa Investment, with Riyadh Development Company and FTG Development as co-investors and developers.
For Riyadh residents, the developments signal continued expansion of the city's leisure, hospitality and green public spaces, adding new destinations for families, sports enthusiasts and visitors as the capital's lifestyle offerings grow.
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