On July 28, 2026, Knowledge Economic City ("KEC") announced that its subsidiary, Algharraa International Real Estate Development Company Limited, signed a contract with SALCO Saudi Contracting Company on July 27, 2026, for the execution of infrastructure works for the Southeastern District of Knowledge Economic City. The contract, valued at SAR 90,998,853 (excluding VAT), covers a comprehensive scope of works including roads and pavements, potable water, sewerage, stormwater drainage, irrigation, firefighting, electrical, street lighting, ICT infrastructure, and District Cooling networks, with a duration of 24 months. Contract costs will be capitalized as part of project development costs in accordance with IFRS, with payments made through monthly progress installments based on completed works. The contract supports KEC's strategy to complete land infrastructure development, enhance site readiness, attract investments, and facilitate the launch of future residential, commercial, hospitality, and mixed-use projects, contributing to Saudi Vision 2030 objectives.

Original announcement:

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