04:39 AM EDT, 07/12/2026 (MT Newswires) -- Knowledge Economic City Co. (SASE:4310) entered into a nonbinding term sheet with Albilad Capital for the formation of a closed-ended private real estate investment fund. The real estate developer said Sunday that the fund will be used for the Multaqa Hospitality Cluster 1 of the Multaqa Almadinah project in Saudi Arabia. The first cluster, which has an estimated total development value of 1.5 billion Saudi riyals, will involve the construction of the JW Marriott Hotel, branded residential units, and a Marriott Hotel.

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