Knowledge City signs MoU with investment ministry to promote, develop projects

Logo of Knowledge Economic City

Knowledge Economic City (KEC) announced signing today, Feb. 23, a memorandum of understanding (MoU) with the Ministry of Investment to consider areas of cooperation between the two parties to promote and develop investment in the company's projects, the firm said in a statement to Tadawul.

Under the five-year MoU, the parties seek to develop and enhance investments in Knowledge Economic City and cooperate to achieve the objectives of both parties, through supporting companies in establishing and investing in the city.

Investment opportunities will be developed and promoted in the Knowledge Economic City, in addition to attracting investment in the area of providing services for different projects, as well as support and consultancies in the fields of investment in real estate development and encouraging the use of the best technologies in the city's real estate projects.

There are no related parties to the MoU, KEC said, adding that there is no financial impact currently.