1 Day
Source:
الاقتصادية
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Real estate fund to develop Knowledge Gardens
The Knowledge Economic City Company and its subsidiary have announced the signing of a Letter of Intent to establish a closed real estate investment fund valued at SAR 7.5 billion, aimed at financing the development of the "Knowledge Gardens" project in Madinah. The project is expected to generate total revenues of approximately SAR 10.2 billion. It covers an area of 332,000 square meters and will include residential units, a hotel, commercial and office spaces, as well as service facilities and gardens. Saudi French Capital will manage the fund, while Formen Investment will participate as the developer and a major contributor, with the possibility of additional investors joining. The fund is planned to have a lifespan of four years, with potential extensions, all in support of enhancing Madinah's status as an investment and residential destination in line with Saudi Vision 2030.
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