Sports Boulevard Riyadh Plans SAR 700M Hotel Fund
Sports Boulevard Development Company in Riyadh has established its third private real estate investment fund, with a target size exceeding SAR 700 million (over USD 186 million), to develop private real estate assets within Urban Wadi in Hittin District.
Structured as a real estate investment fund, it will finance a luxury five-star hotel and other key private assets in Urban Wadi. The project spans a land area of about 13,500 square metres with a gross floor area of roughly 34,400 square metres. Sports Boulevard Development Company is the majority unitholder in its Urban Wadi funds, with Rikaz Properties acting as developer and investor, and Al Jazira Capital serving as fund manager.
Separately, a private closed-ended mixed-use real estate development fund of over SAR 3.5 billion is planned to develop private plots and high-rise buildings in Urban Wadi along the Sports Boulevard corridor.
Why it matters
The Sports Boulevard corridor extends for about 135 km across Riyadh, with roughly 2.3 square kilometres allocated for private development. Urban Wadi is planned as a 3.5 km mixed-use zone combining hospitality, entertainment, sport, nature, and community experiences, adding a major new lifestyle destination for residents.
As of August 2026, publicly available information does not specify exact participation fees, unit prices, minimum or maximum ticket sizes, validity periods, or step-by-step subscription procedures for retail, institutional, or foreign investors. Participation appears to take place through institutional fund arrangements managed by licensed capital-market entities and direct agreements with the development company, rather than through government digital channels.
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