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Saudi developer sets up $400m fund for hotel projects in Medina
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Saudi developer sets up $400m fund for hotel projects in Medina
Saudi-listed Knowledge Economic City (KEC) is setting up a private real estate fund to develop two hotels and a branded residential scheme in Medina. The fund will be managed by Albilad Capital and will support the first phase of the Multaqa Almadinah hospitality project, expected to cost SAR1.5 billion ($399 million). The phase includes a 288-key JW Marriott Hotel, a 327-key Marriott Hotel and 295 branded residential units, the developer said i…
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