In order to create the Urban Wadi High-Rises, a major destination under the Sports Boulevard project, the Sports Boulevard Foundation has announced the creation of a private real estate investment fund valued at approximately SR3.5 billion.
After the success of the real estate fund for the Promenade attraction, Sports Boulevard has announced a second major investment effort in partnership with Riyadh Development Company, FTG Development, and Jadwa Investment. This cooperation model aims to draw in foreign direct investments and raise Riyadh’s international profile in terms of sustainability and urban development.
As a private closed-ended fund, Sports Boulevard Development Company holds the majority of the fund’s units. Jadwa Investment will be in charge of fund management, while Riyadh Development Company and FTG Development will serve as co-investors and developers.
“This fund reflects our commitment to the Sports Boulevard project and our vision of improving the quality of life in the city,” said Jayne McGivern, CEO of the Sports Boulevard Foundation, highlighting the project’s importance. It is a revolutionary step that will improve urban development, draw in foreign investment, and help achieve Saudi Vision 2030’s lofty objectives.
In addition to a 4.5-kilometer water canal encircled by lush vegetation, Urban Wadi will have sports courts, event spaces, family-friendly amenities like restaurants and play areas, and shaded walkways for bicyclists and pedestrians.
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