Sports Boulevard is one of the most important projects in Riyadh. And now, Sports Boulevard Real Estate Development and Investment Co. has signed an agreement with Rikaz Properties. With this agreement, the plan is to develop a luxurious five-star hotel, which would come up in the Riyadh Sports Boulevard at the Urban Wadi. Here’s all you need to know about this upcoming hotel.
Sports Boulevard To Get A Luxe Five-Star Hotel
There’s a plan to establish a luxurious five-star hotel in the Sports Boulevard of Riyadh. With this agreement, Rikaz Properties is going to establish its third real estate investment with funding valued at over USD 186 million. This includes development of key assets, including financing and development of the hotel in the Hittin district. Coming back to the upcoming hotel, it is expected to be built on a 13,500-sq.-meter plot. With a gross floor area of 34,400 m², this is going to be an important project, as revealed by Arab News.
What Is Urban Wadi?
For those who are not aware, Urban Wadi is an important destination within Sports Boulevard in Hittin. It stretches from Suwaid bin Harthah Street to Ar Rub Al-Khali Street. As it happens, the property is being designed as an integrated destination, which would combine sports, entertainment, nature, hospitality, and community space. This development follows the Sports Boulevard Code, which is basically an urban design framework. The framework is inspired by Salmani architecture, and it is intended to reinforce a cohesive identity in the character of Riyadh.
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This Project Aims To Support Saudi Vision 2030
Moreover, it’s worth mentioning that this project aims to support Saudi Vision 2030. Not to mention. It also aims to support the Quality of Life programme by attracting private sector investment. It should be noted that Sports Boulevard is one of the major developments that’s coming up in Riyadh. Once it is complete, it will extend over 135 km. This would be through an interconnected network of sports, entertainment, environmental, and urban destinations.
With this development laid out for you, we can already imagine how amazing Sports Boulevard is going to be once it is complete.
Cover Image Courtesy: Instagram/sportsblvdsa
FAQs
Where is Sports Boulevard coming up in Riyadh?
Sports Boulevard is coming up in Hittin district.
What is planned for Sports Boulevard?
Sports Boulevard is a major development project, and it will extend over a 135 km interconnected network of sports, entertainment, environment, and urban destinations.