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Madinah Knowledge Signs City 2 Forum Deal
The Knowledge Economic City Company announced the signing of a memorandum of understanding with Kaden Investment Company to develop the "Muntaja City 2" project in Madinah City, with a total estimated cost of 2.5 billion Riyals. The project aims to be an integrated extension that includes residential, commercial, and office units, comprising approximately 1,527 housing units over an area of 92,000 square meters, along with entertainment and service components. The value of the project will be increased through the creation of a closed real estate investment fund in which both parties will participate. Knowledge City will contribute the land for the project, representing 75% of the units, while Kaden will contribute financially, covering 25%. This partnership is expected to generate financial revenues of about 67.7 million Riyals, with a total estimated investment of 2.5 billion Riyals. The project aims to enhance the Madinah region and develop an integrated urban destination.
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