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Knowledge Economic City awards SAR 49m contract for project in Madinah Gate

Knowledge Economic City awards SAR 49m contract for project in Madinah Gate
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Riyadh – Mubasher: Knowledge Economic City Company has awarded Mohammed Al Rashed Trading and Contracting Company (MARCO) a SAR 48.884 million contract to execute the bus station in the Madinah Gate Project.

As per the contract, MARCO will construct the bus station with the retail shops on its land within around 24 months, according to a bourse filing on Sunday.

The bus station is one of the components of the Madinah Gate Project, which is being developed in the south of Knowledge Economic City.

In addition to the bus station, the project includes a four-star hotel, operated and managed by Hilton, and a mall with retail, shops, restaurants, and a recreational area.

Knowledge Economic City acts as the development manager for the Madinah Gate Project.

Riyad Capital Fund, 75% owned by Knowledge Economic City, also assigned MARCO to develop the hotel and the mall.