More than SAR700 million is the combined value of a real estate investment fund established to develop assets within Urban Wadi. The fund was created through contracts signed by the Sports Boulevard Real Estate Development and Investment Company, Al Jazira Capital, and Rikaz Properties.
According to SPA, the fund will support the development of a luxury five-star hotel in the Hittin District. Rikaz Properties will act as the Developer and Investor, while Al Jazira Capital serves as the Fund Manager. The hotel project covers a land area of approximately 13,500 square meters and a gross floor area of around 34,400 square meters.
Urban Wadi is located within the Sports Boulevard project in the Hittin District, extending from Suwaid bin Harthah Street in the west to Ar Rub Al-Khali Street in the east. The destination is designed to integrate sport, nature, entertainment, hospitality, and community engagement based on the Sports Boulevard Code and Salmani architecture principles.
This initiative follows a previous announcement of a second real estate investment fund exceeding SAR5.5 billion across the Arts District and Urban Wadi. The fund supports the Quality of Life Program and Saudi Vision 2030 by creating high-value investment opportunities and enhancing the urban environment.
What is the purpose of the new SAR700 million investment fund? The fund is designed to develop key assets within Urban Wadi, specifically supporting the creation of a luxury five-star hotel in the Hittin District. This project will be developed on a land area of approximately 13,500 square meters with a gross floor area of around 34,400 square meters to grow hospitality and lifestyle offerings.
Who are the partners involved in the Urban Wadi investment fund? The fund was established through contracts signed by the Sports Boulevard Real Estate Development and Investment Company, Al Jazira Capital, and Rikaz Properties. In this partnership, Rikaz Properties serves as the Developer and Investor, while Al Jazira Capital acts as the Fund Manager.
Where is Urban Wadi located and how is it designed? Urban Wadi is located in the Hittin District, extending from Ar Rub Al-Khali Street in the east to Suwaid bin Harthah Street in the west. It is designed according to the Sports Boulevard Code and Salmani architecture principles to integrate nature, sport, hospitality, entertainment, and community engagement.
How does this fund relate to previous Sports Boulevard investments? This fund is part of a series of investment agreements launched by the Sports Boulevard Foundation. It follows a previous announcement regarding a second real estate investment fund that had a combined value exceeding SAR5.5 billion across the Urban Wadi and Arts District areas.