City of Knowledge sells Medina land for 398.8 million

The Knowledge Economic City Company announced the signing of two sale agreements for three plots of land in the Knowledge City project in Madinah, with a total value of approximately 398.76 million SAR. Two of the plots, with a combined area of 17,620 square meters, were sold to the investment companies "Albuwaba International" and "Ulu Al-Aqarah," aiming to develop a mixed-use project through the establishment of an investment fund. Another plot was sold to the Ooud Real Estate Private Fund, with the purpose of developing a project that includes residential, commercial, and office uses. The company expects these transactions to enhance liquidity and support the financial position, achieving total profits of 360.84 million SAR from the sales. The proceeds will be used to activate its strategic projects to accelerate the city's growth and increase value for shareholders.

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