The master-plan was designed by Creative Kingdom Dubai. Knowledge Economic City is a project to position Saudi Arabia and Saudi Arabian entrepreneurs as leaders in knowledge based industries and aims to attract and develop talent from around the world.
20,000 jobs and accommodation for 150,000 people will be created by the project which is expected to bring about 10 billion Riyals a year into the region once it is completed by 2020.
According to the Saudi Real Estate Companion, the development should be primarily considered a residential development, which is expected to greatly increase the residential supply in the city. One of the key drivers for the development is likely to be the legal framework with regards to non-national (and non-GCC) ownership in the area.[1]
Since its launch KEC has signed Memoranda of Understanding and contracts with several local companies and with government and private sector organisations from Malaysia and Canada. The latest have been MoUs signed with Cisco and CompTIA . The Cisco MoU is intended to provide access to networking technologies, while the CompTIA signing is to ensure Knowledge Economic City knowledge workers with internationally recognised IT qualifications.
Several major companies are involved and the development consortium members include: Savola Group (Publicly Listed Company), Taiba Investments and Real Estate Development Company (Publicly Listed Company), Project Management Development Company PMDC, and Quad Intl’ Real Estate Development Co. (Management).
Prior to the signing in February and March 2008 of Memoranda of Understanding with Malaysia’s Multimedia Development Corporation (MDeC) and Multimedia University, major MoUs had been signed with KSA’s Siraj Capital Ltd and PMDC, Savola Group Co and Malaz Group. Key Consultancy contracts have been awarded to HOK Canada, IBI Group and Malaysia’s MSC Technology Centre.
They and other partners will work with Seera City Real Estate Development, the company set up to manage the project, to identify opportunities and develop each of the facets of the city. souks of Medina
The economy of Saudi Arabia is the largest in the Middle East and the eighteenth largest in the world. A permanent and founding member of OPEC, Saudi Arabia is also a member of the G20 forum as one of the world's largest economies.
Medina, officially Al-Madinah al-Munawwarah and also commonly simplified as Madīnah or Madinah, is the capital of Medina Province in the Hejaz region of western Saudi Arabia. One of the most sacred cities in Islam, the estimated population as of 2020 is 1,488,782, making it the fifth-most populous city in the country. Located at the core of the Medina Province in the western reaches of the country, the city is distributed over 589 km2 (227 sq mi), of which 293 km2 (113 sq mi) constitutes the city's urban area, while the rest is occupied by the Hejaz Mountains, empty valleys, agricultural spaces and older dormant volcanoes.
Saudi Binladen Group, known as Binladen Group Global Holding Company since 2019, is a multinational construction conglomerate headquartered in Jeddah, Saudi Arabia. In 2011, the Saudi Binladen Group signed a US$1.23 billion contractual agreement to construct the tallest building in the world, Jeddah Tower in Jeddah. They are also party to a US$3.4 billion agreement to construct the Doha Metro located in Doha. The conglomerate comprises an estimated 537 companies. The group's founder was Mohammed bin Awad bin Laden, the father of Osama bin Laden.
Saleh Abdullah Kamel was a Saudi billionaire businessman. He had a net worth estimated at US$2.3 billion, as of March 2017. He was the chairman and founder of the Dallah al Baraka Group (DBHC), one of the Middle East's largest conglomerates. He was also the chairman of the General Council for Islamic Banks and the Jeddah Chamber of Commerce.
Prince Mohammad bin Abdulaziz International Airport or Medina Airport is a regional airport in Medina, Saudi Arabia. Opened in 1950, it handles domestic flights, while it has scheduled international services to regional destinations such as Cairo, Dubai, Istanbul and Kuwait City. Medina Airport also handles charter international flights during the Hajj and Umrah seasons. The Pilgrims for Hajj and Umrah can enter Saudi Arabia through this airport or through Jeddah Airport only. It is the fourth busiest airport in Saudi Arabia, handling 8,144,790 passengers in 2018.
The Al Muhaidib Group is an international private group of companies based in Saudi Arabia that was founded in 1946 by Abdul Kadir bin Abdul Muhsin Al-Muhaidib. The current chairman of the board of directors is Sulaiman A. K. Al-Muhaidib.
King Abdullah Economic City is a planned city in Makkah Province, Saudi Arabia. It was announced as a megaproject in 2005 by King Abdullah bin Abdulaziz. It is located in close proximity to Thuwal, almost 100 km (62 mi) north of Jeddah.
Almarai Company is a Saudi multinational dairy company which is listed on the Tadawul stock exchange. It specializes in food and beverage manufacturing and distribution. The company's main offices are located in Riyadh, Saudi Arabia.
Water supply and sanitation in Saudi Arabia is characterized by challenges and achievements. One of the main challenges is water scarcity. In order to overcome water scarcity, substantial investments have been undertaken in seawater desalination, water distribution, sewerage and wastewater treatment. Today about 50% of drinking water comes from desalination, 40% from the mining of non-renewable groundwater and only 10% from surface water in the mountainous southwest of the country. The capital Riyadh, located in the heart of the country, is supplied with desalinated water pumped from the Arabian Gulf over a distance of 467 km. Water is provided almost for free to residential users. Despite improvements, service quality remains poor, for example in terms of continuity of supply. Another challenge is weak institutional capacity and governance, reflecting general characteristics of the public sector in Saudi Arabia. Among the achievements is a significant increases in desalination, and in access to water, the expansion of wastewater treatment, as well as the use of treated effluent for the irrigation of urban green spaces, and for agriculture.
Jeddah Tower, previously known as Kingdom Tower, is a skyscraper construction project in Jeddah, Saudi Arabia. It is planned to be the first 1 km (3,281 ft) tall building and would be the world's tallest building or structure upon completion, standing 180 m (591 ft) taller than the Burj Khalifa. Located in the north side of Jeddah, it is the centerpiece of the Jeddah Economic City project. After almost five years of inactivity, development work on the project resumed in 2023.
Prince Abdulaziz Bin Mousaed Economic City (PABMEC) is a proposed planned city in Saudi Arabia. Saudi Arabia is reportedly looking to boost its involvement in industries beyond petroleum exporting.
The Haramain High Speed Railway, also known as the Western railway or Mecca–Medina high-speed railway, is a 453-kilometre-long (281 mi) high-speed rail line in Saudi Arabia. It links the Muslim holy cities of Medina and Mecca via King Abdullah Economic City and Jeddah, using 449.2 kilometres (279.1 mi) of main line and a 3.75-kilometre (2.33 mi) branch connection to King Abdulaziz International Airport (KAIA), in Jeddah. The line was designed for a top speed of 350 km/h (220 mph), and with a service speed of 300 km/h (190 mph).
Japan–Saudi Arabia relations are the foreign relations between Saudi Arabia and Japan. Official relations between the two nations were established in 1955.
1Malaysia Development Berhad is an insolvent Malaysian strategic development company, wholly owned by the Minister of Finance (Incorporated).
The Mecca Metro or Makkah Metro is a metro system with four planned lines in the city of Mecca, Saudi Arabia. The Metro was constructed by China Railway Construction Corporation and is run by Mecca Mass Rail Transit Company (MMRTC). The metro forms part of the 62-billion-riyal Mecca Public Transport Programe (MPTP), which will include integrated bus services.
Etihad Atheeb Telecommunications Co., trading as GO, is the second fixed-line operator to acquire a license from the Communications and Information Technology Commission (CITC) to provide fixed services including voice and broadband services based in Saudi Arabia.
The King Abdullah Financial District (KAFD) is a mixed-use financial district located near King Fahad Road in the Al Aqeeq area of Riyadh, Saudi Arabia Managed by the King Abdullah Financial District Development and Management Company , a wholly-owned subsidiary of the Kingdom's Public Investment Fund, the district was previously being managed by the Rayadah Investment Corporation on behalf of the Pension Authority of the Kingdom of Saudi Arabia. The district is the largest LEED Platinum certified mixed-use business centre in the world.
The Medina Metro or Madinah Metro is a planned three-line metro system for the city of Medina, Saudi Arabia.
SAMI is a state-owned defense company launched in May 2017 by Saudi Arabia’s Public Investment Fund (PIF).
The COVID-19 pandemic in Saudi Arabia is part of the worldwide pandemic of coronavirus disease 2019 caused by severe acute respiratory syndrome coronavirus 2. The first case in the kingdom was confirmed by the Ministry of Health on 2 March 2020 and in the following months, the kingdom held the highest number of confirmed cases in the Arab states of the Persian Gulf.
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