The Economic Knowledge City is a Saudi economic development city established in 2010 in al-Madinah al-Munawwarah. It encompasses various development, commercial, residential, and recreational projects. A joint-stock company, also named Economic Knowledge City, was established to develop it. This company is listed on the Saudi Exchange 'Tadawul' and is known as 'KEC'. The Economic Knowledge City was first announced in June 2006 as one of four economic cities envisaged to bolster the Kingdom of Saudi Arabia's efforts toward economic diversification and job creation.
It is a Saudi joint-stock company by virtue of the Resolution of the Minister of Commerce and Industry (currently the Ministry of Commerce) No. 122/29 dated April 15, 2009. It was listed on 'Saudi Tadawul' on August 9, 2010. Its shares are traded on the main market under the real estate management and development sector, under the symbol (4310), name (Knowledge City), and ISIN (SA12IG523B16). Its capital amounts to SAR3.393 billion.
Objectives of the Economic Knowledge City
The Economic Knowledge City aims to lay the groundwork for economic development centered around knowledge industries, while also bolstering the tourism and marketing sectors in al-Madinah al-Munawwarah. This will be achieved by leveraging commercial areas with multi-use real estate and knowledge-based educational projects. The project's infrastructure adheres to the highest international standards and specifications for smart cities, positioning it as a pivotal landmark in the civilization of al-Madinah al-Munawwarah.
Economic Knowledge City location
KEC is strategically located in al-Madinah al-Munawwarah, five km from the Prophet's Mosque and eight km from Prince Mohammad Bin Abdulaziz Airport. It has a Haramain High-Speed Railway station, which connects al-Madinah al-Munawwarah and Makkah al-Mukarramah. KEC stretches on both sides of King Abdulaziz Road, surrounded by a major road network.
Development projects at Economic Knowledge City
The Economic Knowledge City contributes to the urban development of al-Madinah al-Munawwarah and includes a number of developmental projects, chiefly:
- Al-Madinah al-Munawwarah Gate: The first project in the Kingdom to be linked to a Haramain High-Speed Railway station. It comprises recreational and commercial centers, a transport station, and a tower-shaped hotel over an area of approximately sixty thousand m.
- Al-Alya'a: The housing development stretches across 269,000 m and consists of residential and commercial units, roads, services, walkways, recreational centers, and a central park with an area of approximately 42,000 m.
- Al-Madinah Hub: An integrated center containing a residential tower, hotel tower, commercial complex, spacious garden, recreational centers for different age groups, spa and sports club, pedestrian parks, restaurants, and modern cafes.
- Dar al-Jewar: A gated residential community with a total area of 586,000 m, it comprises pathways, gardens, mosques, children's playing areas, courts, and ceremony halls.
- Islamic World District Project: It consists of clinics, shopping and recreation areas, budget hotel services, and outdoor squares. It aims to provide inclusive services to visitors and pilgrims. It is located near the railway station.
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