Land preparation work has started at Knowledge Economic City (KEC) in Saudi Arabia.
As yet no contractor has been invited to bid for the work but the developer, Seera City Real Estate Development Company, is currently negotiating with consultants for the project.
Construction on KEC is due to begin in early 2009.
The Seera City Real Estate Development Company is a consortium made up of the Savola Group, PMDC, Taibah Investment & Real Estate Development Company, Quad International Real Estate Development Company and the King Abdullah Foundation.
KEC, the outskirts of Medina, will cover an area of 4.8 million square metres and will have a built-up area of about 9 million sq m. The city will house about 150,000 residents (MEED 17:6:08).
The project is worth $6.7bn.
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