| Country |
: |
Saudi Arabia |
| Project Value |
: |
USD 7,000,000,000 |
| Sector |
: |
Real Estate | Free Zones/Economic Zones |
|
Consultants |
: |
Jv of HOK International and IBI Group
(Design) |
Dar Al Handasah Shair and Partners
(Master Plan) |
|
PMC |
: |
AECOM
|
|
Contractors |
: |
Al Dar Al Arabia - Architecture and Construction
(Construction) |
Al Rajhi Holding Group
(Infrastucture & MEP) |
| Profile Type |
: |
Standalone Project
|
|
Phase:
Construction - Execution
|
|
Completion: 2020
|
|
|
|
| Owner |
: |
Knowledge Economic City CompanyKnowledge Economic City Company - Saudi Arabia
|
| Location |
: |
Medina , Saudi Arabia
|
| Contract Type |
: |
Construction |
| Facility Type |
: |
Economic city |
| Capacity |
: |
Land area: 9 million sq. m.
Built up area: 4.8 million sq. m.
150,000 residents
30,000 residential units |
| Main Usage |
: |
 Free Zones/Economic Zones |
|
| Background |
Knowledge Economic CityKnowledge Economic City Company (KEC), under the supervision of Saudi Arabian General Investment AuthoritySaudi Arabian General Investment Authority (SAGIA), plans to develop Madinah Economic City, in Medina located 5 km east of Haram.
The city will be developed on a 9 million sq. m. land area and will have a built-up area of 4.5 million sq. m.
The project will include an convention studies center, residential units (30,000), a museum on the life of Prophet Mohammed, a mosque (for 10,000 worshipers), a theme park known as "Seera Land", hotels, and a monorail that will link the city to Medina's Grand Mosque.
The project will be carried out in three phases. Phase 1 includes of the infrastructure works and the construction of 200 villas and 600 apartments. Phase 2 and 3 include the construction of hospitality facilities, more than 220 villas out of 550 villas and there will also be 600 flats built.
The project will include a shopping mall implemented in 2 phases. Phase 1 with 100,000 sq.m. and will include 300 shops, parking for 4000 lots and a hypermarket. Phase 2 will increase the retail space to 300,000 sq.m. .
Once completed, the city will accommodate up to 150,000 residents.
The project is among the 6 cities that the Saudi Arabian General Investment AuthoritySaudi Arabian General Investment Authority plans to develop in Saudi Arabia.
The JV of HOK and IBI Group is the design consultant, Dar Al HandasahDar Al Handasah is the master plan consultant and Cansult Maunsel - AECOM is the PMC. |
| Expected Events |
| Schedule |
Contract Phase/Phase |
Description |
| Q1 2013 |
Completion | Infrastructure works and phase 1 expected to be completed | | 2014 | Completion | Residential part expected to be completed | | 2016 | Completion | Phase 2 expected to be completed | | 2020 | Completion | Project expected to be completed
|
|
| Latest Events |
In September 2011, the infrastructure and construction works were still ongoing.
In January 2013, the infrastructure work and phase 1 is expected to be completed (delayed from 2012).
In 2014, residential part is expected to be completed.
In 2016, phase 2 is expected to be completed.
In 2020, the project is expected to be completed. |
| Previous Events |
In June 2011, the construction contract was awarded to Al Dar Al Arabia Company (delayed from December 2010).
In May 2011, infrastructure works started
In April 2011, the Infrastructure contract including MEP works was awarded to Al Rajhi Infrastructure Company.
In September 2009, the master plan was reviewed.
In July 2009, the (USD 14 million) PMC contract was awarded to Cansult Maunsel - AECOM.
In June 2008, the master plan was finalized.
In January 2008, Knowledge Economic CityKnowledge Economic City developers agreed to set up a company to overlook the development of the project. They also finalized all required legal procedures and contracts.
In December 2006, knowledge economic city (KEC) signed an MoU (worth USD 100 million) with Siraj Capital and Project Management and Development CompanyProject Management and Development Company (PMD) to develop the projects hospitality sector (including hotels, residential units and convention center) and an MoU (worth 133 million) with Savola GroupSavola Group to develop Phase 1 of the projects retail complex (100,000 sq.m.).
In June 2006, the project was launched. |
| Scope of Work |
Construction of a free zone including:
- Residential area (30,000 residential units that include villas and apartments)
- 1,200 retail outlets
- Islamic civilization studies center
- Museum
- Mosque (for 10,000 worshipers)
- Monorail that will link to Medina's Grand Mosque |
| Project News |
|
|
| Schedule | Contract Phase/Phase | Description |
| Jul 2006 |
Announcement | Project launched
|
| Dec 2006 |
Planning | MoU signed with Siraj Capital and PMD | | | Planning | MoU signed with Savola GroupSavola Group
|
| Jun 2008 |
Design | Masterplan finalized
|
| Jul 2009 |
PMC | Contract awarded to Cansult Maunsel AECOM
|
| Sep 2009 |
Design | Master plan reviewed
|
| Apr 2011 |
Construction | Infrastructure contract including MEP works awarded to Al Rajhi Infrastructure Company
|
| May 2011 |
Construction | Infrastructure works started
|
| Jun 2011 |
Construction | Construction contract awarded to Al Dar Al Arabia company
|
| Q1 2013 |
Completion | Infrastructure works and phase 1 expected to be completed
|
| 2014 |
Completion | Residential part expected to be completed
|
| 2016 |
Completion | Phase 2 expected to be completed
|
| 2020 |
Completion | Project expected to be completed
|
|
|
|
 |
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