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Home » Real Estate » Knowledge Economic City in Madinah Awards Million in Contracts for Al-Alya Project
Knowledge Economic City in Madinah Awards $78 Million in Contracts for Al-Alya Project
Knowledge Economic City in Madinah Awards $78 Million in Contracts for Al-Alya Project

Saudi’s Knowledge Economic City Co. has awarded contracts worth $78 million to deliver 396 apartments as part of its much anticipated Al-Alya project in The Holy City of Madinah.

The Al-Alya development is designed as mixed use development and is due to be located close to the Al Haramain Train station in Madinah.

It is designed to offer residential, educational, and business services within a gated community supporting modern urban living in line with Saudi Vision 2030.

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Contracts Overview

First Contract: Residential Component

Image Credit Knowledge Economic City Company

The first contract, valued at SAR 117.5 million, mandates ElKhereiji Commerce & Contracting Co. to oversee all contracting work for four additional residential buildings. These buildings are set to house 132 residential units of varying sizes. 

This deal brings the total number of residences to 12 buildings, offering 396 apartments under the Al-Alya project’s first phase. The contract is expected to span 24 months, beginning from the issuance of construction permits.

Second Contract: Technical Flourishing

Image Credit Knowledge Economic City Company

The second contract, valued at SAR 171.3 million, necessitates the implementation of electromechanical, finishing, and landscaping works. 

This entails the provision of 264 residential apartments currently under construction within the first phase of the Al-Alya project. The contract duration is set at 20 months, commencing in May 2024.

The Al-Alya Vision

Image Credit Knowledge Economic City Company

The Al-Alya project is one of the main projects in the Knowledge Economic City. The development is designed as a gated complex housing with various components, including hospitality, housing, offices, retail outlets, and educational services. 

The project aligns with the urban trend of humanizing cities and the quality-of-life program. The latter integrates green areas and pedestrian walkways to create a vibrant style of living, ticking the boxes of the Kingdom’s Vision 2030 objectives.

Al-Alya Project Location

Image Credit Knowledge Economic City Company

The Al-Alya project has an ideal location in Madinah located a few minutes away from the Al Haramain High Speed Rail station and only a 10 minute drive from Al Masjid An Nabawi. It is also located adjacent to the Dar Al Jewar residential compound which is currently the only gated community in Madinah.

The Al-Alya project is being developed in an area overlooking Safwan Street, 269,000 square meters. The area is divided into plots of varying sizes. A garden measuring approximately 60,000 square meters is situated at the epicenter of the project. 

Image Credit Knowledge Economic City Company

This green space is separated from vehicular traffic to encourage walking, with full access provided for people with special needs.

Office Spaces and Accommodation

Image Credit Knowledge Economic City Company

The Al-Alya project incorporates two groups of offices designed with flexible workspaces to encourage work and innovation. These areas are linked to hotels and residences overlooking a kilometer-long park. Serviced apartments and residences equipped with smart home technology form part of the project. 

Image Credit Knowledge Economic City Company

These components are linked to other phases to form a continuous series of gardens, open spaces, and pedestrian paths within open artistic treatments of Islamic arts and heritage.

Hospitality at Al-Alya

Image Credit Hyatt Corporation

The hospitality component of the Al-Alya project includes a 4-star hotel with 130 room keys managed by the Hyatt International Group under the Hyatt Centric brand. Additionally, it contains 4-star hotel apartments with 420 apartments managed by the Hyatt International Group. 

Approximately 1,000 apartments are available for sale through the off-plan sales system under the supervision of the Economic Cities and Special Zones Authority (ECZA).

Ongoing Project Work

Image Credit Kheriji Group

The concrete structure of 264 residential apartments is currently being executed by the contractor, ElKhereiji Commerce & Contracting. The same contractor is responsible for the same units’ electromechanical, finishing, landscaping, and site work. 

Image Credit Knowledge Economic City Company

With the new contract for 132 residential apartments, the total number of residential apartments will reach 396 units. These units will be available for sale through the off-plan sales system licensed by the ECZA. 

The site works for the hotel and hotel apartments area are ongoing, and contracting works are being arranged in preparation for the award.

Other KEC Madinah Projects

Madinah Gate 

Image Credit Knowledge Economic City Company

Madinah Gate Projec is connected to the The Al Haramain Train Station Transit Oriented Development (TOD). It comprises a transit hub, a Double Tree Hilton hotel, and a commercial and entertainment complex. 

Image Credit Knowledge Economic City Company

This mixed-use development, expected to link 10 million people annually by 2030, will establish a new urban hub called Madinah Gate and offer essential support services to pilgrims, tourists, and the locals who come to see the Prophet Mosque in Madinah. 

Image Credit Knowledge Economic City Company

The Madinah Gate project is designed in three main parts, each taking up around 22,000 square meters. The total built-up area of the project is 33,000 square meters, not including the spaces used for parking and hotels. 

KEC Hub

Image Credit Knowledge Economic City Company

The KEC Hub is recognized as the largest integrated center in Medina. The KEC Hub project is situated in the Knowledge Economic City development’s northern region and stretches 450 meters along the King Abdul-Aziz Highway.

It consists of a commercial complex between its flanks, a hotel tower (Hilton), a luxurious residential tower, and entertainment centers for kids and adults. 

It will also feature a sports health club, and a boulevard alongside contemporary eateries and cafes. The project also features expansive pedestrian squares and a sizable garden.

Islamic World District

Image Credit Knowledge Economic City Company

In October of 2023, Knowledge Economic City Co. struck a deal with Gulf International Bank Capital, securing SAR 3.5 billion to initiate a real estate investment fund to foster the growth of the Islamic World District in Madinah. 

Image Credit Knowledge Economic City Company

Spanning more than 140,000 square meters, this district is slated for a comprehensive makeover, transitioning into a versatile mixed-use development.

Image Credit Knowledge Economic City Company

The development will encompass various sectors such as hospitality, residential, retail, entertainment, and cultural areas, boasting more than 5,000 hotel rooms, 743 residential units, and a specific zone spanning 24,000 square meters allocated for retail establishments.

Redefining Modern Urban Living

Image Credit Knowledge Economic City Company

The Al-Alya Project is a foundation of modern urban living, offering a blend of residential, educational, and business services. As the project progresses, it promises to be a significant step towards achieving Saudi Arabia’s Vision 2030. 

With these recent contracts, the Knowledge Economic City Co. demonstrates its commitment to this vision, investing heavily in the future of the Holy City of Madinah.

More Projects in Madinah

Al-Safiyyah Museum & Park Project

Image Credit Twitter As safiyyah

Madinah’s governor, Prince Salman bin Sultan, officially opened the new As Safiyyah Museum & Park in the Holy City of Madinah

The As Safiyyah Museum & Park, situated near Al Masjid An Nabawi, covers an area of 4,400 square meters and includes a creation exhibition that utilizes audio-visual technology to showcase the origin of the universe, as well as the stories of The Prophets. 

Adjacent to the luxurious Pullman Zamzam Madina Hotel, this project aims to enhance the cultural experience of Hajj and Umrah pilgrims, aligning with the goals of Saudi Vision 2030 to enhance Madinah’s artistic appeal and preserve important Islamic historical sites in the country.

Rua Al Madinah

Image Credit Rua Al Madinah

The Rua Al Madinah project, launched by Crown Prince Mohammed bin Salman in August 2022, spans 1.5 million square meters, with 63 percent dedicated to open and green spaces. The project will offer 47,000 hotel rooms.

This project is expected to contribute $37.3 million (SAR140 million) to the Kingdom’s gross domestic product upon completion. 

Image Credit Rua Al Madinah

Moreover, it is expected to create 93,000 direct and indirect job opportunities, allowing recruitment throughout the construction and development phase until 2030.

Image Credit Rua Al Madinah

From luxury accommodations to world-class restaurants and entertainment options, the Rua Al Madinah project aims to redefine hospitality standards, marking a benchmark for excellence in the industry.

Islamic Civilization Village

Image Credit Rua Al Madinah

The Rua Al Madinah Holding Company in Saudi Arabia has introduced a new project called the Islamic Civilization Village Project. This initiative aims to enrich the experience of pilgrims in the Holy City of Madinah. 

Spanning over an area of 257,000 square meters, the project will be situated near Al Masjid An Nabawi. It will consist of eight distinct zones that will showcase the rich history of Islam from various periods.

Seven’s Entertainment Destination

Image Credit Rua Al Madinah

Saudi Entertainment Ventures Seven has revealed its plans to build a 1.3 Billion Riyal entertainment destination in Al Madinah. This new destination will be a hub of fun, excitement, and top-notch attractions, aiming to enhance the lives of the city’s inhabitants. 

The project is due to cover an area of over 100,000 square meters, with a built-up area of 84,000 square meters. The park will feature beautiful paths seamlessly blending with the planned open paths and gardens in the destination.

Keep Reading: Al-Safiyyah Museum and Park Inaugurated by Madinah Governor, Prince Salman bin Sultan

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