59 Days
Source:
الاقتصادية
7.5B Riyal Fund for Knowledge Gardens
The Knowledge City Company and its subsidiary, Al-Ghera International Real Estate Development, have agreed to establish a closed real estate investment fund valued at 7.5 billion riyals, for the development of the "Knowledge Gardens" project in Medina. The project aims to generate revenues of approximately 10.2 billion riyals and includes the construction of 4,198 residential units, a 450-room hotel, commercial and office spaces, as well as service facilities and gardens covering an area of over 52,000 square meters. Saudi French Capital will manage the fund, with Forman Investment acting as a main partner. The funding will be based on both in-kind and monetary contributions, with an expected benefit to the company of around 800 million riyals as part of the land value. The project is part of a strategic plan to diversify funding sources and enhance Medina’s position as an investment and residential destination. The fund’s lifespan is planned to be four years, with a schedule for development, marketing, and exit strategies.
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