The Sports Boulevard Development Company secured the funding through a partnership with Rikaz Properties and Al Jazira Capital. The planned hotel will occupy a 13,500-square-metre site within the Urban Wadi destination, adding 34,400 square metres of hospitality space to the 135-kilometre corridor. Construction will adhere to the Sports Boulevard Code, which mandates a design aesthetic rooted in traditional Salmani architecture.

Jayne McGivern, CEO of the Sports Boulevard Foundation, stated that the fund signals growing investor confidence in the long-term viability of the project. The initiative aligns with Saudi Vision 2030, aiming to transform Riyadh into a more connected urban center by integrating public green spaces with sports and cultural facilities. Since the project's first phase opened in February 2025, the existing network of pathways and parks has attracted millions of visitors. With this latest agreement, the foundation continues to leverage private-sector partnerships to accelerate the development of its various hospitality and lifestyle zones.