Knowledge Economic City’s (KEC) board of directors has decided to operate as a real estate asset management company, chairman Amin Shakir told CNBC Arabia.

 

The firm will turn to its strategic partners, specialists and real estate funds to finance its projects, he said.

 

As for the Down Town project, Shakir said that KEC has initiated talks with major Saudi banks to finance the project.

 

KEC has said that it began preliminary designs for the SAR 2.2 billion Down Town project after completing the required feasibility study, Argaam reported earlier.

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