Fahad Alzomea, CFO of Knowledge Economic City
Knowledge Economic City (KEC) is banking on the opening of a new hotel and two shopping centers in 2027, alongside growth in residential unit sales, to boost revenue and diversify its income streams, CFO Fahad Alzomea, said. 
Speaking to Asharq Bloomberg, Alzomea noted the company expects to begin operating a new five-star hotel on King Abdulaziz Road in Madinah in 2027. This follows its entry into the hospitality sector earlier this year, which has already started contributing to revenue.
The company also expects two shopping centers to commence commercial operations next year, one on King Abdulaziz Road and the other adjacent to the railway station. Alzomea said agreements have been signed to lease a significant portion of the retail space, with one of the centers expected to open by the end of Q2 2027.
Regarding the Hilton Homes project, Alzomea indicated the company targets opening it by the end of Q2 or early Q3 2027. He added that work has begun on two hotels within the Islamic World District project, which remain in the early stages of development.
In the residential sector, Alzomea noted growing demand for housing units from non-Saudi investors and prospective buyers, as the company continues to market its projects internationally.
He also said 14 buildings are in the early stages of development, while revenue from off-plan residential unit sales is recognized based on the percentage of completion.
Fahad Alzomea, CFO of Knowledge Economic City
Knowledge Economic City (KEC) is banking on the opening of a new hotel and two shopping centers in 2027, alongside growth in residential unit sales, to boost revenue and diversify its income streams, CFO Fahad Alzomea, said.
Speaking to Asharq Bloomberg, Alzomea noted the company expects to begin operating a new five-star hotel on King Abdulaziz Road in Madinah in 2027. This follows its entry into the hospitality sector earlier this year, which has already started contributing to revenue.
The company also expects two shopping centers to commence commercial operations next year, one on King Abdulaziz Road and the other adjacent to the railway station. Alzomea said agreements have been signed to lease a significant portion of the retail space, with one of the centers expected to open by the end of Q2 2027.
Regarding the Hilton Homes project, Alzomea indicated the company targets opening it by the end of Q2 or early Q3 2027. He added that work has begun on two hotels within the Islamic World District project, which remain in the early stages of development.
In the residential sector, Alzomea noted growing demand for housing units from non-Saudi investors and prospective buyers, as the company continues to market its projects internationally.
He also said 14 buildings are in the early stages of development, while revenue from off-plan residential unit sales is recognized based on the percentage of completion.
