The Saudi Tadawul-listed real estate developer Knowledge Economic City (KEC) has secured Shariah-compliant project financing of up to SAR152 million ($40.44 million) from The Saudi Investment Bank (SAIB) to complete the construction of its Educational Complex project.

The financing facility has a tenor of 15 years.

The company’s shares gained 12.17% YTD.

(Writing by Ahmad Mousa; editing by Brinda Darasha)
Ahmad.mousa@lseg.com