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Knowledge City Hub Project
Overview
The project includes developing the main shopping mall and its connected hotel units in Knowledge Economic City, located in the Northern region of Medina. First phase includes developing Down Town project on a total area of 186,000 sqms, of which 77,000 sqms will be allocated for the mall and boulevard, and 65,000 sqms for the public park which includes spaces for activities and entertainments,and The rental space is 122 thousand square meters.
Hotel rooms will be increased to 350 rooms, while hotel apartments will reach 64, and they will be connected to the markets, restaurants, and service areas.
Project Information
- Real Estate > Landlords and developers > Shopping malls
- A real estate fund will be set up to finance the project. KEC will contribute the acquired land plot, along with a cash amount.
- The company owns 50% of the shares in Makarem Al Maarefah Hospitality Company, which used to own land within the area of the city center project to establish an integrated complex.
- The company announced that the excavation works have been completed and the procedures for offering works to implement the concrete structure for the first phase of the project have been completed during the year 2020, and the works are being awarded to the implementation contractor to start in the second quarter of 2021, and it is planned to complete the first phase and its component (the commercial market, the hotel, the residential tower and the Boulevard And superficial positions in 2025.
- The company announced the signing of a contract with "Al-Saad Contracting Company" to carry out construction works for the main market for the City of Knowledge Forum project amounting to 242 million riyals Within the first stage, A contract was also signed with IHAF, "Consulting Engineers and his partner for engineering consultancies" to supervise the implementation work with a value of 17.4 million riyals during the quarter The second of 2021.
- The company announced that it had signed an agreement with the Hilton International Group to operate a hotel, the City of Knowledge convergence project, as well as providing engineering consultancy during the design phase in Q2 2021.
- On June 21, 2023, the company announced the signing of a contract worth SAR 506.61 million with Alsaad General Contracting Co. for the execution of electromechanical and finishes works of the project.
Owners
Related Parties
Project Developments
Knowledge City signs SAR 506.6 mln contract with Alsaad Contracting Argaam21/06/2023
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