Knowledge Economic City Company

The Saudi-based Knowledge Economic City Company (KEC) was established for the development and management of the Madinah Knowledge Economic City, a residential and commercial development in Madinah’s western province.

Totaling 4.8 million sq. m (51.6 million sq. ft.) in area, the City is designed to accommodate 150,000 residents in 30, 000 units and to consist of an Islamic civilization studies center, a museum, a mosque, 1,200 retail outlets, a theme park known as "Seera Land", and a monorail linking the City to Madinah's Grand Mosque. The SAR30 billion (USD9 billion) development was launched in June 2006, but its construction phase will begin in Q3 2010. The project, which is slated for completion in 2020, will be carried out in three phases; the first will consist of building 200 villas and 600 apartments; the second will add 220 out of a total of 550 villas and 600 more apartments.

KEC’s parent company, the Knowledge Economic City Developers Company, which began the design and management of the City in June 2006, handed over the reins to Knowledge Economic City Company, which underwent an IPO, in May 2010, to raise 30.6 % of the paid up capital dedicated for building the City.