Sports Boulevard Real Estate Development and Investment Co. has signed an agreement with Rikaz Properties to develop a five-star hotel within the Riyadh Sports Boulevard at Urban Wadi in the Hittin district.
The development forms part of Rikaz Properties’ third real estate investment, with funding valued at more than USD 186 million. The investment will cover the financing and development of key assets, including the planned hotel.
The hotel is expected to be developed on a 13,500-square-metre plot, with a gross floor area of 34,400 square metres. The project was reported by Arab News.
Urban Wadi is a destination within Sports Boulevard in Hittin, extending from Suwaid bin Harthah Street to Ar Rub Al-Khali Street. The area is being developed as an integrated destination combining sports, entertainment, nature, hospitality and community spaces.
The development will follow the Sports Boulevard Code, an urban design framework inspired by Salmani architecture. The framework is intended to support a cohesive architectural and urban identity across Riyadh.
The project also supports the objectives of Saudi Vision 2030 and the Quality of Life programme by encouraging private-sector investment. Sports Boulevard is planned to extend for more than 135 kilometres upon completion, connecting sports, entertainment, environmental and urban destinations across Riyadh.
