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Knowledge Economic City (KEC) has signed a SAR 117.6 million contract with Astra Construction Co. to develop the Riyadh Schools complex, including architectural, electromechanical, and external works. The project, spanning 10 months, aligns with approved designs and regulatory standards. Payments will be made in installments based on monthly progress. The agreement is part of KEC's collaboration with Riyadh Schools Group (RSG), a subsidiary of the Mohammed bin Salman Foundation (Misk), to create modern educational facilities. RSG will manage operations and educational services.
This development highlights KEC's role in Saudi Arabia's education infrastructure expansion, a priority under Vision 2030. The contract could boost KEC's revenue and operational visibility, potentially attracting investor interest in its stock. However, the project's impact on short-term market performance depends on execution efficiency and broader economic conditions.
For Saudi equity markets, the news reinforces confidence in public-private partnerships driving infrastructure growth. Investors should monitor KEC's financial reports for project-related updates and assess how this aligns with its long-term strategic goals. Regional investors may view this as a positive signal for education sector investments in the Gulf.
