{"id":110036,"date":"2026-09-09T13:48:39","date_gmt":"2026-09-09T10:48:39","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=110036"},"modified":"2026-09-09T13:48:40","modified_gmt":"2026-09-09T10:48:40","slug":"%d9%85%d8%af%d9%8a%d9%86%d8%a9-%d8%a7%d9%84%d9%85%d8%b9%d8%b1%d9%81%d8%a9-%d8%a7%d9%84%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af%d9%8a%d8%a9-%d9%88%d9%83%d8%a7%d8%af%d9%86-%d8%aa","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/110036\/","title":{"rendered":"\u00abEconomic Knowledge City\u00bb and \u00abKaden\u00bb Are Developing \u00abCity Forum 2\u00bb for 2.5 Billion Riyals"},"content":{"rendered":"

Announced Knowledge Economic City Company <\/a><\/strong>A memorandum of understanding was signed with Kaden Investment Company to develop the "Madinah Forum 2" mixed-use project in Madinah, with estimated investments of 2.5 billion riyals. The project is located adjacent to the northern side of the first phase of "Madinah Forum," overlooking King Abdulaziz Road and next to the Boulevard in Knowledge Economic City. It aims to develop an integrated destination comprising residential, commercial, and office components, along with supporting facilities and services.
The project's land area is approximately 92,040 square meters, while the estimated building areas reach approximately 229,120 square meters.<\/p>\n\n\n\n

1527 housing units<\/strong>
According to the initial concept, the project includes about 1,527 residential units distributed across 3 areas, in addition to a commercial and office component with a net leasable area of about 31,100 square meters, as well as parking spaces, clubs, recreational and service facilities, and landscaping and tree planting for the adjacent central park.
The aim is to develop and sell residential units, including off-plan sales during the construction period, while commercial and office components will be developed, leased, and operated to reach stable occupancy levels, and then retained until the investment is exited through sale.<\/p>\n\n\n\n

\u00ab"Knowledge City" contributes the land<\/strong>
Under the initial structure, the two parties intend to establish a closed real estate investment fund to own, finance and develop the project, with \u00abKnowledge City\u00bb contributing the land as an in-kind share, in exchange for a cash contribution from \u00abKadan\u00bb.
Knowledge City's share amounts to 75% of the fund's units, compared to 25% for Caden, which will also assume the duties of development manager, including managing development, leasing, property management, and sales of residential units.
The initial value of the project land provided by \u00abKnowledge City\u00bb is approximately 692.3 million riyals, while the total required equity for the project is estimated at approximately 832.7 million riyals.<\/p>\n\n\n\n

67.7 million riyals in cash<\/strong>
Following the finalization of the agreements, Knowledge City is expected to receive approximately 67.7 million riyals in cash, in addition to units in the target fund with an estimated value of 624.6 million riyals.<\/p>\n\n\n\n

The approximate cost of the land is SAR 64.2 million, and the financial impact will be included in the company's financial statements in accordance with International Financial Reporting Standards after fulfilling the accounting recognition requirements and completing the ownership transfer procedures. Territory<\/a><\/strong>.
The project is targeted for financing through a combination of equity, bank financing, and proceeds. Off-plan sales,<\/a><\/strong> Subject to the final financing structure and relevant approvals.<\/p>\n\n\n\n

The memorandum of understanding stipulates a 90-day exclusivity period for conducting negotiations, studies, due diligence, and finalizing agreements related to the project.
The two parties also agreed to appoint Capital Hill Financial Company as the proposed manager of the closed-end real estate investment fund that is to be established to develop the project.
The project is part of the \u00abKnowledge Economic City\u00bb strategy to develop its land portfolio and maximize its value through partnerships with specialized investors and developers, and to diversify sources of funding, uses, and real estate products within the city.<\/p>\n\n\n\n

<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>Knowledge Economic City Company announced the signing of a memorandum of understanding with Kaden Investment Company to develop the \u00abMadinah Forum 2\u00bb mixed-use project in Madinah, with estimated investments of SAR 2.5 billion. The project is located adjacent to the northern side of the first phase of \u00abMadinah Forum,\u00bb overlooking King Abdulaziz Road and next to the Boulevard in Knowledge Economic City, and aims to develop an integrated destination encompassing various components\u2026 Read more<\/a><\/p>","protected":false},"author":27,"featured_media":110037,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"amlak_video_sent":"","footnotes":""},"categories":[7786],"tags":[],"class_list":["post-110036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mecca-madinah"],"acf":{"amlak_post_excerpt":"\u0645\u0630\u0643\u0631\u0629 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