KHC sells the “Kingdom City” to Alawwal Investment Co. for SAR 900 million & will participate in the new fund that owns “Kingdom City”

Kingdom Holding Company (KHC) announces the sale of the “Kingdom City” residential complex in the Al Rabie neighborhood in Riyadh to a real estate investment fund affiliated with Alawwal Investment Company for SAR 900 million Saudi riyals. It will also participate in the new fund that owns “Kingdom City” and will announce the percentage of participation on a later date, noting that the name “Kingdom City” will remain as it is. “Kingdom City” is considered one of the most prominent luxury residential complexes in the city of Riyadh and is located at the intersection of Al-Thumama Road and King Abdulaziz Road. The complex is distinguished by its proximity to current and future quality projects in the city of Riyadh, such as the King Abdullah Financial Center, the Sports Boulevard Project, King Salman Airport, and Roshan Front. The Fund’s strategy is to grow the revenues of the residential complex and improve the quality of life by raising operational efficiency, improve the level of service, and provide the finest facilities.

The “Kingdom City” Residential Complex contains 384 residential units and facilities that provide all the needs of residents, their families, and their visitors. It is also supervised by a specialized operating department from the establishment of the complex until today. The complex’s location also provides easy access to high-quality basic services for residents, such as the Kingdom Hospital, schools, and others.