{"id":92645,"date":"2024-12-18T00:00:00","date_gmt":"2024-12-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/18\/sports-boulevard-to-launch-a-new-real-estate-fund-with-a-jv-of-ardco-ftg\/"},"modified":"2024-12-18T00:00:00","modified_gmt":"2024-12-18T00:00:00","slug":"sports-boulevard-to-launch-a-new-real-estate-fund-with-a-jv-of-ardco-ftg","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/18\/sports-boulevard-to-launch-a-new-real-estate-fund-with-a-jv-of-ardco-ftg\/","title":{"rendered":"Sports Boulevard to launch a new real estate fund with a JV of Ardco + FTG"},"content":{"rendered":"

A new SAR 3.5 bn real estate fund: <\/strong>Sports Boulevard Company for Real Estate Development and Investment signed a seven-year agreement with a new<\/a>ly-established JV<\/a> between Riyadh Development Company (Ardco<\/a>) and Turkey\u2019s FTG Development Company<\/a> to launch a SAR 3.5 bn real estate fund, according to a disclosure to Tadawul<\/a>.<\/p>\n

The fund will <\/strong>develop a 39.8k sqm mixed-use towers project<\/strong> with a built-up area exceeding 207k sqm in the Urban Wadi in Riyadh\u2019s Sports Boulevard<\/a>.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Who is doing what? <\/strong>Jadwa Investment will manage the fund, while the Sports Boulevard Company is the main investor providing the land (in-kind investor). Ardco (local investor) and FTG Development Company (foreign investor) will lead the development work, and ownership percentages will be determined later.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jadwa Investment will manage the fund<\/p>\n","protected":false},"author":1,"featured_media":92646,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2574],"tags":[10,3558,106,3248,3559],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-enterpriseam-ksa","tag-ftg-development","tag-real-estate","tag-riyadh-development-company-ardco","tag-sports-boulevard-company-for-real-estate-development-and-investment","wpautop","entry"],"acf":{"mongo_id":"9fad5560-b62d-4190-a15b-e0ac69771243","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/1720.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sports Boulevard to launch a new real estate fund with a JV of Ardco + FTG","related_issue":[92637],"teaser":"Jadwa Investment will manage the fund","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.e39906a2-0bfb-49a3-8285-91fc85d2a846.mp3"},"yoast_head":"\nSports Boulevard to launch a new real estate fund with a JV of Ardco + FTG - 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