Saudi Arabia’s General Entertainment Authority has announced the launch of a SR1bn ($266m) business park in Riyadh as it looks to establish a creative hub.
Turki Alalshikh, Chairman of the General Entertainment Authority (GEA), announced the launch of the “Boulevard Business Park” project within the “Boulevard City” zone.
The project includes more than 60,000sq m of leasable space, offices and headquarters for companies, co-working zones for entrepreneurs, retail stores, concept stores for national and international brands, an outdoor art gallery, a gym, a spa, a suspended pool, and hanging gardens.
Boulevard Business Park in Saudi Arabia
This first phase of the urban plan to redesign and organise the “Boulevard District” zone in partnership with the private sector, with investments exceeding SR1bn ($266m).
The project aims to become a creative hub that supports the objectives of Saudi Vision 2030 and empowers entrepreneurs and national companies specialising in the creative industry.
The project comprises nine office buildings with commercial spaces overlooking the “Boulevard City” fountain. The first phase of the project features the launch of a creative business resort dedicated to serving global and national companies specialising in creativity and the arts.
Additionally, more than 1,300 parking spaces will be constructed as part of the project.
Turki Alalshikh said the project aims to redesign and organise the “Boulevard District” to create an integrated urban fabric that connects all zones through the establishment of new urban passageways.
Additionally, the project plans to increase green spaces and connect them with adjacent projects such as the sports track.
The initiative will also expand parking capacity and link it to the main road network and public transportation, facilitating access for visitors and workers.
The project will contribute to the growth and sustainability of the creative sector in the Kingdom by creating new jobs.
It aims to establish a new artistic real estate product that keeps pace with the changes in the creative job market and supports the growth of the sector in the Kingdom.
Dr Rakan bin Hussein Al-Harthi, Managing Director of “Sela,” confirmed the company’s adoption of this initiative in collaboration with the REQ Real Estate Fund, French Capital, and Hay Real Estate Development Company.
