KEC Reports Growth in Madinah Real Estate Projects

Knowledge Economic City has reported continued growth and resilience in its real estate activity across Madinah, driven by a wide portfolio of residential, mixed-use and hospitality projects. The company's overall Madinah masterplan spans 6.8 million square meters, with committed investment of about SAR 24 billion across the Madinah Gate, Multaqa Al Madinah, Islamic World District and Al Alyaa districts.

Among the flagship developments, the Multaqa Al Madinah 2 mixed-use project carries an estimated total development cost of around SAR 2.5 billion and a gross floor area of about 229,000 square meters. Within the same district, the Multaqa Residences project holds a total development value of about SAR 2.6 billion.

In the Al Alyaa residential project, contracted sales as of mid-2026 covered 351 units out of 1,420, with a total contracted value of about SAR 520.7 million. Non-Saudi buyers reserved 231 residential units valued at more than SAR 547 million, with down payments received and contracts pending completion. About 470 units remain available for sale, while 368 units are in the off-plan licensing process as of July 2026.

Other projects add to the pipeline. Islamic World District phase 1 secured Shariah-compliant financing of SAR 150 million in June 2026 for clusters 1 and 2, following earlier infrastructure contracts worth about SAR 149 million. The Knowledge Gardens project is planned through a private real estate fund with an investment size of about SAR 7.5 billion, while the first phase of Multaqa Hospitality is to be financed through a closed-ended private fund of about SAR 1.5 billion.

Across the Madinah districts, more than 11,000 hotel rooms are under development as of 2026. The activity reflects rising demand from both Saudi and international buyers and signals continued expansion of housing and hospitality supply in Madinah, supporting residents, visitors and pilgrims in the years ahead.

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