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Element List	Explanation
Introduction	Knowledge Economic City (KEC) has signed a joint venture agreement with Archipelago Indonesia Company to establish a new company specializing in hotel management and operation.
Memorandum Signing Date	2025-12-01 Corresponding to 1447-06-10
Counterparty	Archipelago International Indonesia Company
Memorandum Subject	The Joint Venture Agreement governs the relationship between KEC and Archipelago International Company as equal partners in the new joint venture company. The primary objective of the JV company is to manage and operate hotels within KEC. The company may also engage in other hotel management activities within the Kingdom of Saudi Arabia as mutually agreed by the joint venture partners.
Memorandum Duration	The duration of the joint venture will be determined in the Articles of Association of the new company upon establishment.
Related Parties	No related parties.
Financial Impact	The financial impact on KEC will be reflected in its share of profits from operating revenues generated through hotel management. The exact value and timing of this impact will be determined following the company’s incorporation and commencement of operations.
Additional Information	Started in 1997, Archipelago International Indonesia is Southeast Asia's largest privately owned hotel management group, with more than 45,000 rooms and residences in over 200 locations across Southeast Asia, Latin America, the Caribbean, the Middle East, and Oceania. A trusted hotel company with a long track record and award-winning brands including Aston, The Royal Alana, Huxley, Kamuela, Avanika, Harper. Archipelago is now moving into other markets across the globe such as Australia, the Middle East, and South America. Through this partnership, Knowledge Economic City aims to build self-reliance in the field of hotels and hospitality facilities management and operation and to build a new brand to ensure quality and sustainability for its large hospitality portfolio.

Knowledge Economic City Announces the Signing of a Joint Venture Agreement with Archipelago International Indonesia Company to Establish a Company for Hotel Management