Riyadh – Sharikat Mubasher: BSF Capital, the investment banking and asset management arm of Banque Saudi Fransi, announced it has signed a letter of intent (LOI) with Knowledge Economic City (KEC), its subsidiary Algharraa International Real Estate Development Co., and Fourmen Investment to establish a SAR 7.5 billion private real estate investment fund for the Knowledge Gardens project in Madinah.

Under the proposed structure, BSF Capital will serve as the fund manager, overseeing the CMA-regulated investment vehicle that will finance the development of the mixed-use project within Knowledge Economic City, as per BSF Capital’s announcement on LinkedIn. KEC and Algharraa International will participate as co-investors and co-developers, while Fourmen Investment will act as the lead investor and lead developer.

The fund is intended to support the development of the Knowledge Gardens project, one of the key components of Knowledge Economic City's masterplan in Madinah. The preliminary agreement establishes the framework for launching the investment vehicle, with implementation subject to regulatory approvals, final agreements, and financing arrangements.

The deal strengthens BSF Capital's role in structuring and managing large-scale real estate investment funds, as demand for institutional financing vehicles continues to grow across Saudi Arabia's property sector.