Knowledge Economic City and Maison Privee Announce Strategic Joint Venture in Madinah

MADINAH, Saudi Arabia, Nov. 6, 2025 /PRNewswire/ -- Knowledge Economic City (KEC), the pioneering publicly listed developer shaping the transformation of Madinah, has signed a landmark joint-venture agreement with Maison Prive Holiday Homes Rental L.L.C. to establish a new company specializing in short-term residential rental (STR) management.

The partnership will introduce premium short-stay hospitality and property-management services within KEC and across Madinah, catering to visitors, pilgrims, and business travelers seeking elevated experiences.

The new company will develop and operate a comprehensive STR management platform offering fully furnished residential units to third-party guests.

Its services will span the entire guest journey from arrival to departure through seamless online and multi-channel booking, a multilingual guest-services app, housekeeping, concierge, catering, wellness, transportation, travel coordination, and event support.

A New Residential Model for Madinah

Commenting on the partnership, Mr. Amin Shaker, Chairman of Knowledge Economic City, stated:

"Through this collaboration, KEC aims to introduce an innovative residential model in Madinah that combines holiday-home rentals with flexible ownership options. Leveraging Maison Privee's regional expertise in branded short-stay management will enhance asset value for property owners and investors, while offering residents the dual advantage of personal use and rental income potential."

The first project under this joint venture will be Al Alyaa, KEC's flagship, fully integrated, gated, human-centric mixed-use community. Spanning 226,000 square meters, it features 1,490 residential units, 70,000 square meters of landscaped gardens and walkways, retail and hospitality spaces, and an array of lifestyle amenities. The STR platform will help drive apartment sales while maximizing returns for buyers through its unified hospitality and property-management model.

Maison Privee's Entry into the Saudi Market

Paul Mallee, Managing Director of Maison Privee, added:

"We are delighted to partner with KEC in introducing our brand to the Kingdom. Together, we are creating a centralized STR management platform on a scale unprecedented in the region. This business model will offer investors a secure, flexible, and technology-driven solution to maximize returns by tapping into the growing demand for short and long-stay accommodation in Madinah. It enables investors to seamlessly switch between short-term rentals and long-term leases based on market conditions, ensuring higher yields and full control over their assets".

About Knowledge Economic City (KEC)

Knowledge Economic City (KEC) is a publicly listed joint-stock company on the Saudi Exchange (Tadawul), operating under the regulation of the Economic Cities and Special Zones Authority (ECZA). With a masterplan covering 6.8 million square meters within the sacred boundaries of Madinah, KEC is developing fully integrated modern destinations that combine residential, commercial, cultural, and leisure components, transforming Madinah into a world-class lifestyle hub.

Strategically located near the Prophet's Mosque, the Haramain High-Speed Rail station, and Prince Mohammed bin Abdulaziz International Airport, KEC plays a vital role in supporting Saudi Vision 2030, aligning with programs such as the Pilgrim Experience Program, Quality of Life, Housing, and Human Capability Development.

About Maison Privee

Founded in Dubai in 2017, Maison Privee is a leading operator of luxury short-term rentals and a recognized innovator in premium hospitality management. Partnered with Archipelago International, a global hotel management group, Maison Privee combines strong operational capabilities with cutting-edge technology and global distribution networks.

The company operates as a debt-free, profitable enterprise with over AED 389 million in cumulative bookings, managing AED 1.83 billion in assets, and hosting more than one million guests across Dubai and Abu Dhabi. It has achieved 150% portfolio growth since 2020 and has been honored with 12 consecutive Airbnb Superhost awards, along with multiple international accolades from the World Travel Awards, LUXlife Magazine, and the International Travel Awards.

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