Partner Content

A partner’s perspective on working with Sharakat

Saudi Arabia’s water scarcity is at the centre of a blossoming infrastructure market, with private partners at its core. Its prosperity is reflected in the success of a number of flagship projects

By SHARAKAT

Knowledge Economic City (KEC) in Medina was launched by King Abdullah bin Abdulaziz in 2006 and is the third of six economic cities planned for the kingdom.

KEC is designed to position the country and young Saudi Arabian entrepreneurs as internationally respected leaders in knowledge-based industries and aims to attract and develop talent from around the world. It is intended to create opportunities on a global scale while providing investors and entrepreneurs with infrastructure, a unique pool of talent and the potential for a healthy return on investment.

It will also be home to a centre for Islamic civilisation studies and a mosque for 10,000 worshippers. The city is being built on the outskirts of Medina, in the west of Saudi Arabia. It will cover an area of 4.8 square kilometres, have a built-up area of about 9 sq km and house 150,000 residents.

Phase 1, in the northwest of the city, is the first area to be developed. It will contain a civic centre, museums, souqs, a hospitality and commerce tower and a knowledge cluster, as well as a residential apartment complex.

The project will be linked by monorail to Medina’s Grand Mosque and will benefit from the expansion of the nearby Prince Mohammed bin Abdulaziz Airport.