Saudi developer Knowledge Economic City (KEC) has awarded a construction contract to build a bus station for its ongoing Madinah Gate development.
The contract, which costs SR48.8 million ($13 million) was awarded to Mohammed Al-Rashed Trading and Contracting company to build the station that will include retail shops.
The station forms a major part of the Madinah Gate Project, which has two other important developments – a hotel and a mall.
The contract aims to construct the bus station and the shops facing the main plaza of the train station and directly linked to the main mall of the Madinah Gate project to serve travelers and visitor of Madinah. This development will represent the gateway to Madinah and connection between the train station, the hotel and the main mall, which will be constructed in parallel in the land adjacent to the targeted bus station.
Madinah Gate is a vast redevelopment of land adjacent to the Haramain high-speed railway station in the city.
Madinah Gate project consists of three main components in its first phase built on an area of about 22,000 sqm, with a built-up area of 33,000 sqm excluding the car parks and the hotel areas. The first component is the bus station with its retail shops directly connected to the train station, while the second and third components are represented in the 4 stars hotel with its 325 keys operated and managed by Hilton through the Double Tree by Hilton brand, and a mall include retail, shops, restaurants and a recreational area providing a total rental area of up to 22,000 square meters.
The hotel and main mall will be developed by Riyad Capital Fund of which KEC owns 75% of its capital. KEC also acts as the development manager for the Madinah Gate project with all three components.
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