Knowledge Economic City gets funding for Islamic World District project

19/06/2026 10:44 AST

Knowledge Economic City has announced that it has secured a SAR150 million ($40 million) shariah-compliant financing facility from Saudi-based Riyad Bank to fund construction work on the first phase of its Islamic World District project.

The one-year facility will be used for the construction of Clusters 1 and 2 of Phase I of the development, said KEC in its filing to Saudi bourse Tadawul.

The financing is secured by land mortgages and promissory note, it added.


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