As part of this announcement, an area of 19,000 square meters will be added to the original area of the project, bringing the total area of the project to 39,000 square meters. Under this announcement, more than 19,000 square meters will be added to the original area of the project, bringing the total area of the project to more than 39,000 square meters. Ajdan Real Estate Development Company will carry out the development, marketing and operation activities, in addition to its partnership as the main investor in the fund, while Albilad Financial Company will manage the fund and Al Masar Sports Development and Real Estate Investment Company will continue to be the majority partner in the fund.
The project aims to develop the sports field in the city of Riyadh with a total value of SAR 1 billion. The project aims to develop and operate a variety of administrative office buildings, residential, commercial and leisure buildings that will be implemented according to the urban code of the Sports Track, which is derived from the principles of Salmani architecture. The building areas exceed 240,000 square meters with a total rental area of over 100,000 square meters, providing a vibrant experience for residents and visitors alike.
It is worth mentioning that the Arts District is the main investor in the fund. It is noteworthy that the Arts District is one of the areas of the Sports Track project located on Prince Mohammed bin Salman bin Abdulaziz Road and the intersection of Prince Turki bin Abdulaziz Road, which extends over an area of 184,000 square meters, and will include various and unique components characterized by recreational activities, including pedestrian and bicycle paths; it is planned to become a vital center for sustainable mobility, taking into account the highest environmental conservation standards, as well as the project features exceptional features that add elegance to the existing mobility paths.
The Arts District is one of the areas of the Sports Track project located on Prince Mohammed bin Salman bin Abdulaziz Road and the intersection of Prince Turki bin Abdulaziz First Road. <The Sports Track project is one of the major projects for the city of Riyadh, launched by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - may God support him - on 12 Rajab 1440 AH corresponding to March 19, 2019 AD, and enjoys the follow-up and attention of HRH Prince Mohammed bin Salman bin Abdulaziz - may God protect him, the project extends more than 135 km on Prince Mohammed bin Salman bin Abdulaziz Road, and links between Wadi Hanifa in the west of the city and Wadi Sealy in its east, and includes over 4.4 million square meters of open green spaces, more than 50 sites for various sports and investment areas with a total area of more than 3 million square meters.
More than 4 million square meters of open green spaces, more than 50 sites for various sports and investment areas with a total area of more than 3 million square meters.
