Knowledge Economic City Secures SAR152 Project Financing from Saudi Investment Bank

Knowledge Economic City Co. (SASE:4310) secured 152 million Saudi riyals of Sharia-compliant project financing from Saudi Investment Bank (SASE:1030). The 15-year financing will be used to finalize the construction of an educational complex to be operated by Riyadh Schools Group, according to a Monday release. The real estate developer noted that the financing is secured by a land mortgage and promissory notes.