What is the total value of the Multaqa Al Madinah 2 project?

The Multaqa Al Madinah 2 project is valued at **SAR 2.5 billion**, which is approximately **$666.16 million**.

Who are the key partners involved in this development?

The project is a collaboration between Saudi-listed **Knowledge Economic City (KEC)** and **Kaden Investment Company**. KEC will hold 75% of the funding vehicle, and Kaden Investment will manage the development.

What types of units will Multaqa Al Madinah 2 comprise?

The project is expected to include **1,527 residential units** across three zones, alongside commercial and office components with a net leasable area of about **31,108 square metres**. It will also feature recreational facilities and a central park.

How will the different components of the project be managed for revenue?

The **residential units are intended for sale**. The commercial and office components will be **leased initially** until stable operations and occupancy are achieved, after which they are expected to be sold.

What is the size of the Multaqa Al Madinah 2 project area?

The project spans nearly **92,043 square metres** and has an estimated total gross floor area of almost **229,117 square metres**.

All news

Development·15 September 2026

KEC and Kaden Investment Partner for $666 Million Madinah Mixed-Use Development

Knowledge Economic City (KEC) and Kaden Investment Company have signed an MoU to co-develop the **SAR 2.5 billion** Multaqa Al Madinah 2 mixed-use project in Madinah.

Saudi-listed Knowledge Economic City (KEC) and Kaden Investment Company have entered a memorandum of understanding (MoU) to jointly develop the Multaqa Al Madinah 2 project in Madinah. The development, valued at SAR 2.5 billion (approximately $666.16 million), is an extension of the first phase of the broader Multaqa Al Madinah development.

Project Scope and Funding

Located within the initial phase, Multaqa Al Madinah 2 will span nearly 92,043 square metres with an estimated total gross floor area of almost 229,117 square metres. The project is designed to include approximately 1,527 residential units spread across three distinct residential zones. In addition to housing, it will feature commercial and office components offering a net leasable area of around 31,108 square metres.

The development plan also incorporates clubs, recreational and service facilities, and extensive landscaping for a central park adjacent to the project site. Funding for Multaqa Al Madinah 2 will be secured through a dedicated real estate fund.

Ownership Structure and Strategy

Under the terms of the MoU, KEC will hold a 75 percent ownership stake in the real estate fund, while Kaden Investment will possess the remaining share. Capital Hill has been appointed as the fund manager responsible for overseeing the project's financial aspects, with Kaden Investment also taking on the role of development manager.

The strategy for the project's components involves selling the residential units outright. The commercial and office spaces, however, are intended for leasing until operations stabilise and occupancy rates are satisfactory, after which an exit through sale is anticipated. The first phase of the Multaqa Al Madinah development already includes a mall, a Hilton hotel tower, and Hilton-branded residences.

Frequently asked

Questions, answered

What is the total value of the Multaqa Al Madinah 2 project?: The Multaqa Al Madinah 2 project is valued at **SAR 2.5 billion**, which is approximately **$666.16 million**.
Who are the key partners involved in this development?: The project is a collaboration between Saudi-listed **Knowledge Economic City (KEC)** and **Kaden Investment Company**. KEC will hold 75% of the funding vehicle, and Kaden Investment will manage the development.
What types of units will Multaqa Al Madinah 2 comprise?: The project is expected to include **1,527 residential units** across three zones, alongside commercial and office components with a net leasable area of about **31,108 square metres**. It will also feature recreational facilities and a central park.
How will the different components of the project be managed for revenue?: The **residential units are intended for sale**. The commercial and office components will be **leased initially** until stable operations and occupancy are achieved, after which they are expected to be sold.
What is the size of the Multaqa Al Madinah 2 project area?: The project spans nearly **92,043 square metres** and has an estimated total gross floor area of almost **229,117 square metres**.

Reported by

Google News — Gulf Giga-Projects & Masterplans

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This brief was summarised and rewritten by Gaia Living from public reporting. Figures and details reflect the original sources.

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