"City of Knowledge" Drives Saudi Gains
The stock of Madinah Knowledge Economic City continues to achieve strong gains in the Saudi market, rising by 9.99% to reach a price of 14.53 riyals. Since the beginning of the year, it has increased by 27.15%, and in July alone, it gained 19.59%. This surge comes after the company signed an agreement to develop the "Al-Multaqa Residence" project in Medina, with an estimated cost of 2.6 billion riyals. The project aims to develop residential and commercial units on a land area of 149,520 square meters, as part of a development plan aligned with Saudi Arabia's Vision 2030 to promote tourism and improve quality of life. It is expected that the project's revenues will reach around 5 billion riyals, with a total financing and development value of approximately 1.345 billion riyals.
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