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Element List	Explanation
Introduction	The Knowledge Economic City (KEC) announces the signing of a contract for the construction of structural and embedded mechanical, electrical, and plumbing (MEP) works for the buildings in the Islamic World District Project (IWD) – Phase 1 – Cluster 2, through its subsidiary Algharraa International Company, with China Gezhouba Group Corporation (CGGC)
Date of Announcement of the Award	2025-11-04 Corresponding to 1447-05-13
Contract Subject Matter	The scope of the contract covers the execution and completion of all structural and embedded MEP works for the buildings in IWD Phase 1 – Cluster 2, in accordance with the specifications agreed upon and approved by both parties and the regulations of the competent authorities, within the agreed contract period.
The Entity with Which the Contract was Signed	China Gezhouba Group Corporation (CGGC)
Date of Signing the Contract	2025-11-04 Corresponding to 1447-05-13
Contract Value	SAR 64,000,000 excluding VAT
Contract Details	Under the contract, CGGC will execute and complete the construction, mechanical, electrical, and plumbing (MEP) works for the buildings within the Islamic World District Project – Phase 1, Cluster 2, in accordance with the approved designs and specifications agreed upon by both parties and in compliance with the requirements of the relevant authorities, within the stipulated contract period. The targeted built-up area for Cluster 2 is approximately 62,000 square meters, and the development will deliver more than 770 hotel keys.
Contract Duration	18 months
Financial Impact and the Relevant Period	The contractor’s dues will be paid in installments based on monthly claims reflecting the progress of work performed under the contract. Accordingly, the financial impact, represented by cash outflows to settle these dues, will be distributed over the duration of the project contract.
Related Parties	None.
Additional Information	The Islamic World District (IWD) project occupies a prime strategic location at the intersection of King Abdulaziz Road and Prince Nayef Road, in the southeastern zone of Knowledge Economic City. The company has allocated approximately 900,000 square meters for the development, which has been designed in line with the Transit-Oriented Development (TOD) concept. Ideally situated just 100 meters from the Haramain High-Speed Railway Station, the project is directly connected to it through the Madinah Gate Project, the first TOD development in the Kingdom, ensuring seamless accessibility. The IWD project harmoniously blends modern urban design with Islamic architectural heritage and the distinctive styles of various Islamic nations, creating a comprehensive cultural and civilizational destination that aligns with the objectives of Saudi Vision 2030 and supports its flagship programs, particularly the Doyouf Al-Rahman Services Program (Pilgrim Experience Program – DARP). The first phase of IWD will provide over 5,000 hotel rooms alongside diverse residential units, contributing to the Housing Program and the Kingdom’s broader vision for sustainable urban living. In addition to hospitality, entertainment, shopping, dining, retail, and museum components, the project enhances quality of life through thoughtfully designed parks, green spaces, and pedestrian-friendly plazas. Internally, it is connected to other components of Knowledge Economic City through smart transportation systems such as electric vehicles. The Islamic World District is set to become one of Madinah’s major landmarks and a key contributor to achieving the goal of increasing the number of visitors to Madinah — establishing itself as a new cultural and premier destination within Al-Madinah Al-Munawwarah.

Knowledge Economic City Announces the Signing of a Construction Contract for the Structural and Embedded MEP Works for the Buildings in the Islamic World District (IWD) – Phase 1 – Cluster 2 through its Subsidiary, Algharraa International Company, with China Gezhouba Group Corporation (CGGC)