About Knowledge Economic City (KEC)
Knowledge Economic City (KEC) is a publicly listed company in Saudi Stock Exchange (Tadawul) (4310) that was established for the purpose of developing and managing the delivery of the Knowledge Economic City master-planned development. The company was formally established in August 2010 following a successful IPO earlier that year. KEC is strategically located in Al-Madinah Al-Munawarah (Madinah), home of the Prophet Mohammed P.B.U.H and where the Holy Qur’an was compiled. Millions of Muslims from all over the world visit Madinah during the Hajj season as well as Umrah season.
KEC was first announced in June 2006 as one of 4 economic cities envisioned to support the Kingdom’s drive towards economic diversity and job creation. The common aim of all the Economic Cities is to offer those who live and work there an excellent, low-pollution environment with high-quality housing, modern amenities, excellent sports and recreational facilities and higher quality education and healthcare services. The Economic Cities will therefore offer unparalleled standards of living in the Kingdom and are designed to provide a welcome comfort zone for modern businesspeople and their families.
The Custodian of the Two Holy Mosques, King Abdullah Bin Abdul-Aziz Al Saud raised the idea of Knowledge Economic City, and the masterplan has been created over the total KEC land comprising 6,800,000 square meters. The Masterplan responds to the aim of the Economic Cities and provides new services and facilities for 150,000 residents. The main activity of the company in accordance with its articles of association is the development of the reclaimed property and other land in the economic cities and elsewhere including infrastructure, telecommunications and internet networks, water and electricity networks, water treatment plants and other works related to the development of the economic cities. Its activities also include the creation, operations and management of Knowledge based educational projects, the development of software, scientific research centers, universities, colleges, institutes, academies, providing telecommunication and internet network services, centers of information, education and training services, infrastructure networks services, public utilities and other services to facilitate the Knowledge industry and support services. In addition, the activities of the company include marketing and selling real estate properties, buildings and land for development or for ownership of others, and managing housing services, tourist projects, resorts, hotels and furnished apartments and a number of other activities.
Madinah is expected to benefit from the Vision 2030’s targets, and the delivery of several major infrastructure projects is expected to improve the City’s accessibility. The new terminal at Madinah Airport (opened in 2015) has highlighted the importance of adequate infrastructure to improve the inflow of people to the city. Phase 1 of the new terminal has an initial capacity to serve 8 million annual passengers and helped overcome the operational bottlenecks at Madinah Airport and approaching the 8 million capacity level with 7.8 million passengers. Ambitious goals for the airport are targeting to accommodate a capacity of 18 million and more than 40 million passengers per annum in phase two and phase three respectively.
In addition to the new airport terminal, the new Haramain high-speed railway that connects Madinah, Makkah, Jeddah, and King Abdullah Economic City is projected to increase the economic activity to Madinah and provide easier access to holy places by, what is anticipated to be, a growing number of pilgrims. The high-speed railway operated commercial on September 2018, and the Madinah station is forecast to hit initial stabilization of 3 million passengers within the first 5 years (with longer-term projections of 11 million passengers based on expanded capacity).
KEC as an economic city with an aspiration to become… Madinah’s Gateway to the Future.
Develop a world-class destination that stimulates and attracts investments and knowledge-based economic development, offers its residents and visitors of Madinah a distinguished lifestyle with integrated services, and delivers rewarding returns to its shareholders.
Our Value proposition:
· Work with quality and professionalism
· The highest standards of governance and transparency
· Customer and investor support
· Local capacity development