What is the value of the fund established for the Riyadh hotel?

The fund established by the Sports Boulevard Foundation for the new five-star hotel in Riyadh is valued at **SAR697 million**, which is equivalent to approximately **$186 million**.

Which entities are partnering on this hotel project?

The hotel project in Riyadh will be developed by the Sports Boulevard Foundation in partnership with **Rikaz Properties**, with the fund being managed by **Al Jazira Capital**.

What are the dimensions of the new hotel development?

The hotel development will cover a land area of **13,500 square metres** and will have a gross floor area of approximately **34,400 square metres**.

Where will the new hotel be located?

The hotel will be located in **Urban Wadi**, which is an area within the larger **135-kilometre Sports Boulevard project** in Riyadh.

What is the total value of funds launched by the Sports Boulevard Foundation?

The Sports Boulevard Foundation has launched a total of three funds, with their combined value exceeding **$1.6 billion**.

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Tourism·16 August 2026

Saudi Sports Boulevard Launches $186 Million Fund for Riyadh Five-Star Hotel

Saudi Arabia's state-owned Sports Boulevard Foundation has established a **SAR697 million ($186 million)** fund to develop a five-star hotel within the Urban Wadi district of Riyadh, in partnership with Rikaz Properties.

The Sports Boulevard Foundation, chaired by Crown Prince Mohammed bin Salman, has announced the creation of a SAR697 million ($186 million) fund dedicated to constructing a new five-star hotel in Riyadh. The project will be situated within the Urban Wadi area and developed in collaboration with real estate firm Rikaz Properties.

Al Jazira Capital has been appointed to manage the newly established fund. The upcoming hotel development is planned to span a 13,500-square-metre plot, with a projected gross floor area of approximately 34,400 square metres. Specific details regarding the number of rooms or the construction timeline for the hotel have not yet been released.

Riyadh's Urban Wadi Development

Urban Wadi forms an integral part of the larger Sports Boulevard project, which is a 135-kilometre corridor designed to integrate sports, art, and culture throughout Riyadh. This extensive urban development will feature green pedestrian, cycling, and equestrian pathways.

This new fund is one of three launched by the Sports Boulevard Foundation, with their combined value exceeding $1.6 billion. The initial phase of the Sports Boulevard project, which includes over 13 kilometres of pedestrian pathways, cycling and equestrian trails, and green spaces, commenced operations in February 2025.

Financing Saudi Real Estate Projects

The move reflects a growing trend among property developers in Saudi Arabia to use private real estate funds. This financing strategy helps to support expanding construction pipelines, reduce the need for upfront equity, and preserve debt capacity for future developments within the kingdom.

Frequently asked

Questions, answered

What is the value of the fund established for the Riyadh hotel?: The fund established by the Sports Boulevard Foundation for the new five-star hotel in Riyadh is valued at **SAR697 million**, which is equivalent to approximately **$186 million**.
Which entities are partnering on this hotel project?: The hotel project in Riyadh will be developed by the Sports Boulevard Foundation in partnership with **Rikaz Properties**, with the fund being managed by **Al Jazira Capital**.
What are the dimensions of the new hotel development?: The hotel development will cover a land area of **13,500 square metres** and will have a gross floor area of approximately **34,400 square metres**.
Where will the new hotel be located?: The hotel will be located in **Urban Wadi**, which is an area within the larger **135-kilometre Sports Boulevard project** in Riyadh.
What is the total value of funds launched by the Sports Boulevard Foundation?: The Sports Boulevard Foundation has launched a total of three funds, with their combined value exceeding **$1.6 billion**.

Reported by

AGBI — Gulf Property & Construction · Google News — Gulf Giga-Projects & Masterplans

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This brief was summarised and rewritten by Gaia Living from public reporting. Figures and details reflect the original sources.

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