On July 19, 2026, Knowledge Economic City announced the signing of a Sale and Purchase Agreement, dated July 16, 2026, for two land plots (C06-6 and C06-3) within its masterplan in Madinah, covering a total area of 17,624.85 square meters. The buyers are Al Bawaba International Investment Company and Olu Real Estate Company, each acquiring a 50% share, at a total net transaction value of SAR 229,123,050, excluding Real Estate Transaction Tax, property registration fees, and other applicable governmental fees. The plots, carried on the Company's books at SAR 21,606,022.82, are to be developed as a mixed-use project through a private real estate investment fund, with the transaction expected to generate a gross profit of SAR 153,324,294 before transaction-related expenses. Proceeds will be used to enhance liquidity, strengthen the Company's financial position, and redeploy capital into current and future strategic projects, supporting sustainable growth and maximizing shareholder value.

Original announcement:

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