Riyadh – Mubasher: Knowledge Economic City’s subsidiary, Al Gharaa International Real Estate Development Limited, signed a contract on 27 July 2026 with Saudi Al Kifah Contracting Company (SALKO) for infrastructure development.
The agreement, valued at SAR 90.99 million excluding value-added tax, covers the southeastern region of the Knowledge Economic City project.
The scope of work includes site preparation, excavation, and the construction of roads and sidewalks. SALKO will also implement essential utility networks, including potable water, sewage, rainwater drainage, irrigation, and firefighting systems.
Additionally, the contractor is responsible for electrical works, street lighting, information and communication technology (ICT) infrastructure, and district cooling networks.
The contract has a duration of 24 months. Knowledge Economic City stated that the financial impact will be reflected in its cash flows throughout the implementation period, with payments made via monthly progress certificates based on actual completion rates.
The project aims to prepare the site for future investments and strategic developments, including the Knowledge Gardens project and various residential and commercial facilities.
Knowledge Economic City plans to develop a fund for the Knowledge Gardens project in Madinah with an estimated total cost of SAR 7.50 billion.
