The fund will finance a luxury five-star hotel in Urban Wadi, a destination within the Sports Boulevard project in Riyadh, Saudi Arabia. Urban Wadi is a mixed-use destination within Sports Boulevard, designed to bring together sport, nature, entertainment, hospitality and community experiences. Development within Urban Wadi follows the Sports Boulevard Code, an urban design framework inspired by Salmani architecture. "This fund represents an important step in strengthening the project's investment and development strategy," said Jayne McGivern, CEO of the Sports Boulevard Foundation. The agreement follows Sports Boulevard's second real estate investment fund, valued at more than US$1.4 billion.