Knowledge Economic City
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latest news

HRH Prince Faisal Bin Salman, the Governor of Madinah, sponsored the ceremony of Taiba School graduates

HRH Prince Faisal Bin Salman, the Governor of Madinah, sponsored the ceremony of Taiba School graduates His Royal Highness Prince Faisal Bin Salman has sponsored the ceremony of Taiba School...

HRH Prince Faisal bin Salman, Governor of Medina, visit the KEC launches and projects that the company

His Royal Highness Prince Faisal Bin Salman, the Governor of Madinah, visited the Knowledge Economic City and launching company’s projects. KEC honored in the grant visit of His Royal Highness Prince...

Knowledge Economic City held third general meeting for shareholders

Knowledge Economic City held third general meeting for shareholders

KEC’s ambitious plans in the holy city of Madinah highlights the International Medical Center’s latest developments

KEC’s ambitious plans in the holy city of Madinah highlights the International Medical Center’s latest developments In its continued efforts, the Knowledge Economic City committed to provide high levels of...

KEC promotes its social continuity by launching its Second Govt. Sectors Directors Meeting in Madinah

Knowledge Economic City promotes its social continuity by launching its Second Government Sectors Directors Meeting in Madinah Knowledge Economic City held its second meeting to enhance communication with the Medina...

KEC promotes its social continuity by launching its 2nd Government Sectors Directors Meeting in Madinah

Knowledge Economic City promotes its social continuity by launching its Second Government Sectors Directors Meeting in Madinah Knowledge Economic City held its second meeting to enhance communication with the Medina...

Eng. Khalid Al-Telmesani Appointed CEO of KEC

Knowledge Economic City announced the appointment of Eng. Khalid Mohammed Al-Telmesani as Chief Executive officer of KEC as of 22/04/1437 A.H. corresponding to 01/02/2016 A.D. Eng. Khalid Al-Telmesani holds a...

Knowledge Economic City held second general meeting for shareholders

Knowledge Economic City held second general meeting for shareholders on Wednesday, 7 Ramadan 1436 AH corresponding to June 24, 2015 AD

“Competitive Medina”: We seek to apply the international standards for the development of the business environment

"Competitive Medina": We seek to apply the international standards for the development of the business environment It confirms its continued solidarity with the government agencies and international companies to transfer...

KEC signed a strategic partnership agreement with Saudi Telecom Company

Knowledge Economic City Company signed a strategic partnership agreement with Saudi Telecom Company Signed Knowledge Economic City Company a strategic partnership agreement with Saudi Telecom Company, carried out during which...

Knowledge Economic City © 2016.

Background

About the Company

Knowledge Economic City Company represents one of the economic development projects launched under the economic cities initiative in Saudi Arabia. It aims at supporting the national economy through the creation of distinct investment opportunities as well as the establishment of knowledge industries in Madinah. It works as a catalyst for the development of an additional commercial area, with great attention being given by the Saudi Arabian government for the support of the economic growth in Saudi Arabia in general and Madinah in particular. Madinah has a tremendous position as being the first capital of Islamic civilization and the residence of the Prophet Muhammad, Peace be upon Him and the destination of spirituality, science and culture to millions of Muslims around the world.

The Custodian of the Two Holy Mosques, King Abdullah Bin Abdul-Aziz Al Saud raised the idea of Knowledge Economic City to be one of the pillars of economic diversification of the Kingdom of Saudi Arabia based on the propagation of knowledge and enhancement of the status of Madinah as a global center for science and Islamic civilization. In addition, it contributes to the development of the economic level of the city of Madinah, which is the fourth largest city in the Kingdom of Saudi Arabia in terms of population, with the annual growth rate that is higher than the average population growth in all regions and cities of the Kingdom of Saudi Arabia. It witnessed the implementation of several development projects to meet the growing demand for various services for the residents and visitors. It also witnessed a steady growth in the number of visitors from inside and outside the Kingdom.

Knowledge Economic City Company has been founded as a Saudi Arabian joint stock company under the Ministry of Trade and Industry Decision No. 256/ق dated 15/08/1431 AH corresponding to 07/27/2010 AD.

On 30/05/2010, the Company completed its initial public offering equivalent to amount of 1,020 million Saudi Riyal of its shares in the Saudi Stock Market, with the nominal value of 10 Saudi Riyal per share. The underwriting in the public offering of the shares started on 24/05/2011 AD, where there were (1,97) million underwriters covering 172.6% of the public offering of the Company of (102) million shares. The Capital Market Authority issued its approval on the final allocation ratios depending on a number of underwriters. Its minimum limit was identified as (50) shares for each underwriter. The Company held its statutory assembly on 17/07/1431 AH, corresponding to 06/29/2010 AD, during which (the underwriting of the entire capital of more than 3.39 billion Saudi Riyal was verified, and the value of in-kind contributions in the same capital amounting to one billion Saudi Riyal (10 Saudi Riyal per share) was approved). This was the contribution of King Abdullah Bin Abdul-Aziz Foundation for Development Housing Dedicated to His Parents in the capital of the Company. In addition, the first firm to audit the company accounts was approved. The articles of association and the founders’ report related to the Company’s foundation expenses were also approved. The first Board of Directors was appointed during this meeting for the next five years, which consists of (11) members. The Company’s shares trading began in the Saudi Stock Market (TADAWUL) on Monday, 28/08/1431H, corresponding to 09/08/2010 AD within real estate development sector having the code (4310).

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.

latest news

HRH Prince Faisal Bin Salman, the Governor of Madinah, sponsored the ceremony of Taiba School graduates

HRH Prince Faisal Bin Salman, the Governor of Madinah, sponsored the ceremony of Taiba School graduates His Royal Highness Prince Faisal Bin Salman has sponsored the ceremony of Taiba School...

HRH Prince Faisal bin Salman, Governor of Medina, visit the KEC launches and projects that the company

His Royal Highness Prince Faisal Bin Salman, the Governor of Madinah, visited the Knowledge Economic City and launching company’s projects. KEC honored in the grant visit of His Royal Highness Prince...

Knowledge Economic City held third general meeting for shareholders

Knowledge Economic City held third general meeting for shareholders

KEC’s ambitious plans in the holy city of Madinah highlights the International Medical Center’s latest developments

KEC’s ambitious plans in the holy city of Madinah highlights the International Medical Center’s latest developments In its continued efforts, the Knowledge Economic City committed to provide high levels of...

KEC promotes its social continuity by launching its Second Govt. Sectors Directors Meeting in Madinah

Knowledge Economic City promotes its social continuity by launching its Second Government Sectors Directors Meeting in Madinah Knowledge Economic City held its second meeting to enhance communication with the Medina...

KEC promotes its social continuity by launching its 2nd Government Sectors Directors Meeting in Madinah

Knowledge Economic City promotes its social continuity by launching its Second Government Sectors Directors Meeting in Madinah Knowledge Economic City held its second meeting to enhance communication with the Medina...

Eng. Khalid Al-Telmesani Appointed CEO of KEC

Knowledge Economic City announced the appointment of Eng. Khalid Mohammed Al-Telmesani as Chief Executive officer of KEC as of 22/04/1437 A.H. corresponding to 01/02/2016 A.D. Eng. Khalid Al-Telmesani holds a...

Knowledge Economic City held second general meeting for shareholders

Knowledge Economic City held second general meeting for shareholders on Wednesday, 7 Ramadan 1436 AH corresponding to June 24, 2015 AD

“Competitive Medina”: We seek to apply the international standards for the development of the business environment

"Competitive Medina": We seek to apply the international standards for the development of the business environment It confirms its continued solidarity with the government agencies and international companies to transfer...

KEC signed a strategic partnership agreement with Saudi Telecom Company

Knowledge Economic City Company signed a strategic partnership agreement with Saudi Telecom Company Signed Knowledge Economic City Company a strategic partnership agreement with Saudi Telecom Company, carried out during which...

Knowledge Economic City © 2016.