Madinah, 6 November 2025: Knowledge Economic City (KEC), the pioneering publicly listed developer and operating under the regulation of the Economic Cities and Special Zones Authority (ECZA), 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.
(Al Alyaa integrated community.)
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 اhelp 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”.
