{"id":72502,"date":"2024-12-17T15:37:41","date_gmt":"2024-12-17T12:37:41","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=72502"},"modified":"2025-11-26T00:30:03","modified_gmt":"2025-11-26T00:30:03","slug":"%d8%a7%d9%84%d9%85%d8%b3%d8%a7%d8%b1-%d8%a7%d9%84%d8%b1%d9%8a%d8%a7%d8%b6%d9%8a-%d9%8a%d8%a4%d8%b3%d8%b3-%d8%ab%d8%a7%d9%86%d9%8a-%d8%b5%d9%86%d8%af%d9%88%d9%82-%d8%a7%d8%b3%d8%aa%d8%ab%d9%85","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/72502\/","title":{"rendered":"\u201cAl Masar Sports establishes second private real estate investment fund worth 3.5 billion riyals"},"content":{"rendered":"

Signed Sports Track Foundation<\/a><\/strong> A real estate investment fund worth more than SAR 3.5 billion has signed an agreement with a number of companies to develop mixed-use towers in one of the lands allocated for investment within Al Wadi, one of the destinations of the Sports Track project.<\/p>\n

This is the second fund announced by the Sports track<\/a><\/strong>After previously announcing a real estate investment fund in the Promenade destination, this fund represents a unique model of public-private partnership and also aims to attract foreign direct investment, reinforcing Riyadh's position as a global destination for investment and urban development.<\/p>\n

Al Masar Sports Development Company will be the lead partner in the fund, while the companies will undertake the real estate development of the project, in addition to joining as co-investors in the fund.<\/p>\n

The project aims to build mixed-use towers (residential, office, commercial, and hotel), and will be implemented according to the urban code of the sports track, which is derived from the principles of Salmani architecture. The project will span an area of approximately 40,000 square meters with a total building area of more than 207,000 square meters.<\/p>\n

Jane McGivern, CEO of the Sports Track Foundation, said: \u201cThe establishment of a real estate investment fund and the strategic partnership involved is an important step towards enhancing urban development. This fund reflects our unwavering commitment to the Sports Track project and our vision to improve the quality of life in Riyadh, and I am delighted to welcome foreign investment.\u201d.<\/p>\n

She added: \u201cBy collaborating with our partners, we will be able to provide the destination with world-class facilities that will ensure a positive impact on the community, by empowering individuals to adopt a lifestyle of healthier and more sustainable choices.<\/p>\n

\u201dI am confident that our partnership will contribute to reshaping the public realm in Riyadh. I am confident that our partnership will contribute to reshaping the landscape of Riyadh, as we aim to make it one of the best cities in the world, in fulfillment of the goals of the Kingdom's Vision 2030.<\/p>\n

Al Wadi is one of the unique destinations within the Sports Track project. Spanning 4.5 kilometers, from Suwaid bin Haritha Street (west) to Al Rabaa Al Khali Street (east), it includes pedestrian and cycling paths, bridges, 10,000 square meters of wooded and shaded areas that include shops and restaurants, shaded play areas for children, a paddling area, various sports fields, and picnic and event areas.<\/p>\n

The sports track project is set to become \u201cthe largest linear park in the world\u201d with a distance of more than 135 kilometers, including safe and wooded paths for pedestrians and bicycles, in addition to various sports facilities. The project links Wadi Hanifa in the west of Riyadh and Wadi Al-Sali in the east, and includes more than 4.4 million square meters of open green spaces, about 50 sites for various sports, distinctive artistic landmarks, in addition to a number of sites and investment areas totaling more than 3 million square meters.<\/p>\n

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 on March 19, 2019, and its board of directors is headed by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, may God protect him, as the project works to enhance the position of Riyadh city in global rankings and transform it into a preferred global destination suitable for living, which contributes to achieving one of the most prominent goals of Saudi Vision 2030 in promoting physical, psychological and social health and building a society whose members enjoy a decent life and healthy lifestyle, and an environment that provides an environment that provides a healthy and healthy lifestyle.<\/p>","protected":false},"excerpt":{"rendered":"

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