Saudi Arabia’s General Entertainment Authority (GEA) has launched the Boulevard Business Park project within the Boulevard City area, marking the first phase of the urban redevelopment and reorganization plan for the Boulevard District in partnership with the private sector, with investments exceeding SAR 1 billion ($266 million).
The Boulevard Business Park project aims to be a creative destination supporting the goals of the Saudi Vision 2030 and will enable entrepreneurs and national companies to specialize in creative industries.
Turki bin Abdulmohsen Al Al-Sheikh, Chairman of the Board of Directors for the General Entertainment Authority (GEA) emphasized that the project aims to redesign and reorganize the Boulevard District to create a comprehensive urban fabric that connects all areas through the establishment of new urban pathways.
The project will also include increasing green spaces and linking them with adjacent projects such as the sports track, enhancing parking capacity and connecting it to major roads and public transportation networks to facilitate visitor and worker access.
It will foster growth and sustainability in the Kingdom by creating new jobs and developing an innovative urban environment that blends creativity and work enjoyment to improve quality of life. It aims to introduce a new real-estate product that aligns with the evolving creative job market and supports the sector’s growth in the Kingdom.
Sela managing director Dr. Rakan Al-Harthy explained that the company adopted the initiative, in collaboration with REQ Real Estate Fund – Saudi Fransi Capital and Hilal Real Estate Development Company. Al-Harthy said the project exemplifies a model for realizing the Saudi Vision 2030 objectives through private-sector partnerships.
The project consists of nine office buildings with commercial outlets overlooking the Boulevard City fountain. The first phase features the launch of a creative work resort tailored to serve global and national companies specializing in creativity and the arts.
The project will include over 60,000 square meters of rental space, office headquarters for companies, co-working areas for entrepreneurs, retail shops, concept stores for national and international brands, an outdoor art gallery, a sports club, a spa, an infinity pool, hanging gardens, and more than 1,300 dedicated parking spaces.
