Riyadh - Sharikat Mubasher: Rafea Real Estate Development, one of the leading real estate companies in Saudi Arabia, eyes sports projects worth around SAR 1.8 billion in the Kingdom over the next two years, according to CEO Rafea Alghamdi.
To achieve this, Rafea Development launched R Sportdev Company to acquire a market share of 20% of the sports real estate development, Alghamdi stated in an interview with Asharq Business.
The CEO revealed that sports assets are projected to represent 35% of Rafea Development’s total assets.
He highlighted that the company plans to launch its first sports project during the third quarter (Q3) of 2025 to establish a sports community with investments estimated at SAR 250 million. The project, spanning 100,000 meters, is expected to be completed within 18 months.
The community will feature a hotel and various sports facilities, including pedestrian paths, cycling lanes, a gym, and a sports academy, as well as padel, tennis, volleyball, and football courts.
Rafea Development launched R Sportdev, the first-of-its-kind sports real estate development company in Saudi Arabia, during the inaugural edition of the Sports Investment Forum (SIF)
SIF takes place in the Saudi capital from 7 to 9 April, serving as a global platform for fostering collaboration, innovation, and sustainable development in the world of sports. It gathers specialists, stakeholders, and visionaries to exchange ideas, build partnerships, and explore opportunities that transcend borders.
