Riyadh Sports Boulevard launches SAR700m Urban Wadi hotel fund

Riyadh’s Sports Boulevard is expanding its sport-led urban development through a new real-estate fund worth more than SAR700 million, equivalent to approximately US$186 million.

The fund will finance a five-star hotel within Urban Wadi, one of eight planned districts along the 135-kilometre route. Rikaz Properties will participate as developer and investor, with Al Jazira Capital managing the fund.

Sports Boulevard is being built as a city-wide network for walking, running, cycling and horse riding. Its masterplan includes up to 50 multidisciplinary sports facilities and more than 4.4 million square metres of green and open space.

The first phase opened in February 2025, taking the completed length to 83km. It includes a 13.4km section through Wadi Hanifah, a 20km cycling and pedestrian loop at Princess Nourah University, and the first phase of Sands Sports Park.

Sands Sports Park features mountain-bike and BMX tracks, hiking and equestrian trails, and the Najdi Flower—a professional cycling route extending for more than 45km. Wadi Hanifah is also

connected to the Promenade by separate pedestrian and cycling paths.

Future facilities include the 130-metre Global Sports Tower, designed to house more than 30 sports facilities, a 98-metre indoor climbing wall and a digitised 250-metre rooftop running track.

The proposed Urban Wadi hotel will occupy a 13,500-square-metre site. Its operator, room count and opening date have not been announced.

The investment shows how hospitality and private capital are being used to support a much larger sports-participation ecosystem across Riyadh.