Knowledge Economic City

What Knowledge Economic City does

Knowledge Economic City Co. (KEC) is a publicly listed Saudi joint-stock company (Tadawul: 4310) that functions as the master developer of a 6.8 million sqm mixed-use urban district within the sacred boundary of the Haram in Madinah, Saudi Arabia. Founded in 2006 and regulated by the Economic Cities and Special Zones Authority (ECZA) under Saudi Vision 2030, KEC plans and develops five destinations — Islamic World District, Al Alyaa, Madinah Gate, Dar Al Jewar, and Multaqa Almadinah — combining residential units, branded hotels, transit-oriented retail, cultural facilities, and recreational space. The full masterplan targets approximately 200,000 residents, 42,000 hotel keys, and 660,000 sqm of retail area anchored by global hospitality brands including Hyatt Centric, Hyatt House, DoubleTree by Hilton, and Hilton.

KEC's revenue mechanics combine one-time residential and commercial unit sales within its masterplan, recurring retail leasing across its integrated destinations, hotel operating income via management partnerships, and capital raised from strategic equity and Shariah-compliant debt facilities. The company sells directly to local residents and end users through its destination websites while engaging institutional investors, hospitality operators, and contractors through enterprise-level negotiations and event-led outreach. Disclosed financing since 2023 totals roughly SAR 747 million in Shariah-compliant facilities from Riyad Bank and Al Rajhi Bank, supporting active construction of Phase 1 clusters at Islamic World District and Al Alyaa.

Operationally, KEC has pursued a partnership-driven growth model, notably forming a 50:50 joint venture with Indonesia's Archipelago International in December 2025 to launch a Saudi hotel brand with approximately 2,500 keys, and a JV with Maison Prive in November 2025 to operate short-term residential rentals beginning at Al Alyaa. The company's leadership transitioned at year-end 2025, with Eng. Hazem El Banna assuming the role of acting CEO after the non-renewal of Mohammad Al-Mubarak's contract, while Chairman Amin Mohammad Shaker continues to oversee board-level governance.

Name

Knowledge Economic City

Legal name

Knowledge Economic City Co.

Website

https://madinahkec.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Short description

Knowledge Economic City is a Tadawul-listed Saudi master developer building a 6.8 million sqm mixed-use district within Madinah's Haram boundary, delivering residential, hospitality, retail, and cultural destinations aligned with Vision 2030.

Ownership category

akta.pro rank

Headquarters

HQ city

Medina

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Real Estate Development Sales: KEC generates revenue through the sale of residential units (villas, townhouses, apartments) and commercial spaces within its masterplan destinations including Al Alyaa, Dar Al Jewar, Madinah Gate, Multaqa Almadinah, and Islamic World District.
2. Hospitality Operations: Revenue from hotel operations through partnerships with international hospitality brands including Hyatt Centric, Hyatt House, DoubleTree by Hilton, and Hilton, generating income from hotel keys and branded residences.
3. Retail Leasing: KEC leases retail spaces to tenants within destinations like Madinah Gate (124 retail units, 37 F&B units) and Multaqa Almadinah (267 retail units), generating recurring lease income from commercial tenants.
4. Strategic Investment Partnerships: KEC attracts strategic investment from global investors through joint ventures and development agreements, creating partnership-based revenue models for large-scale project execution.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Knowledge Economic City (KEC) is a publicly listed Saudi joint-stock company that develops and operates master-planned mixed-use destinations in Madinah, Saudi Arabia. The company develops residential communities, hospitality properties, retail spaces, and cultural facilities across five distinct destinations (Islamic World District, Al Alyaa, Madinah Gate, Dar Al Jewar, Multaqa Almadinah), selling residential units to end-buyers, leasing retail space to commercial tenants, and partnering with international hospitality brands to operate hotels and serviced residences.

Product overview

Knowledge Economic City (KEC) is a publicly listed Saudi joint-stock company developing a master-planned urban destination in Madinah. The portfolio comprises five distinct mixed-use destinations: (1) Islamic World District - a transit-oriented development with hospitality, residential, retail and cultural components; (2) Al Alyaa - a gated residential community with hospitality elements; (3) Madinah Gate - Saudi Arabia's first transit-oriented retail destination integrated with the high-speed railway; (4) Dar Al Jewar - a premium gated residential community; and (5) Multaqa Almadinah - a lifestyle destination combining retail, hospitality and cultural experiences. The masterplan spans 6.8 million sqm targeting 200,000 residents, 42,000 hotel keys, and 660,000 sqm of retail areas.

Differentiator

Problem solved

Functional benefit

Brands

• Al Alyaa: A fully gated community with modern urban living, featuring lush green spaces, residential units, a Hyatt Centric hotel, and serviced apartments by Hyatt House
• Madinah Gate
• Islamic World District
• Dar Al Jewar
• Multaqa Almadinah

Products and services

• Islamic World District A transit-oriented mixed-use destination within KEC designed to welcome visitors through walkable living spaces, community-focused accommodations, mobility hubs, retail environments, and cultural spaces including museums. Phase 1 features 5,141 hotel keys, 1,091 residential units, 21,000 sqm retail GLA, and 11,000 sqm of culture and museum space across approximately 793,111 sqm of land.
• Al Alyaa A fully gated residential community within KEC featuring 1,490 diverse residential units, 70,000 sqm of landscaped areas, a 144-key Hyatt Centric hotel, and 480 serviced apartments managed by Hyatt House. Located within the Haram boundary of Madinah approximately 5 km from the Prophet's Mosque.
• Madinah Gate Saudi Arabia's first transit-oriented retail destination located directly on the Haramain High-Speed Railway station. Features 124 retail units and 37 F&B units within 23,000 sqm of retail GLA, anchored by a 325-key DoubleTree by Hilton Madinah Gate hotel.
• Dar Al Jewar A premium gated residential community featuring villas and townhouses with private outdoor spaces, 266,483 sqm total project area including 70,000 sqm of gardens and walking paths. Minutes from the Prophet's Mosque with amenities including 24/7 security, community mosque, sports courts, and clubhouse with panoramic Mount Uhud views.
• Multaqa Almadinah A vibrant lifestyle destination blending shopping, leisure, dining, culture, and hospitality with 267 retail units in 72,000 sqm of retail GLA, a 390-key Hilton hotel, and 66 Hilton-branded residences. Located 5 minutes from the Haramain High-Speed Railway station and 8 minutes from the Prophet's Mosque.

Quantifiable outcome

• Structural supply gap of over 100,000 residential and hospitality units in Madinah against projections of 30 million pilgrims by 2030
• +2 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor and core.

• Future Hospitality SummitminorGTM or Marketing Partner · 24 June 2026KEC participated as Strategic Partner at the Future Hospitality Summit Saudi Arabia 2026 in Riyadh, where Executive Director Marko Vucinic spoke on a panel about developer investment strategies amid uncertainty.
• Archipelago InternationalcoreStrategic or Co-development Partner · 6 December 2025KEC forming a 50:50 joint venture with Indonesia's Archipelago International to establish a hospitality management company in Madinah. The development will include approximately 2,500 hotel keys and aims to launch a new Saudi hotel brand with scalability across the country. The project aims to create 2,500 jobs with significant investment and strategic expansion into the hospitality sector.
• Maison Prive Holiday Homes Rental L.L.C.coreStrategic or Co-development Partner · 6 November 2025KEC signed a joint-venture agreement with Maison Prive to establish a short-term residential rental management platform in Madinah. The first project will be Al Alyaa, a mixed-use community, with the partnership aiming to introduce an innovative residential model with flexible rental options.
• Hyatt Hotels CorporationcoreChannel Partner/ Reseller/ DistributorKEC's Al Alyaa destination includes a 144-key Hyatt Centric hotel and 480 serviced apartments managed by Hyatt House, offering elevated living options for residents and visitors near the Prophet's Mosque.
• Hilton WorldwidecoreChannel Partner/ Reseller/ DistributorMadinah Gate features a 325-key DoubleTree by Hilton Madinah Gate hotel, providing modern hospitality directly integrated with the retail destination. Multaqa Almadinah includes a 390-key Hilton hotel and 66 Hilton-branded residences.

Scale indicators26 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Taiba Holding Co. Saudi-listed investment holding company with hospitality and real estate operations concentrated in Madinah. Directly comparable as a Madinah-focused public company developing and operating hotels and residential properties for pilgrims, sharing KEC's customer base and Vision 2030 alignment.
• King Abdullah Economic City (KAEC): Saudi special economic city developer operating under the ECZA regulatory framework. Directly comparable as a peer economic city master developer under the same Saudi regulatory regime, with similar mixed-use destination portfolios and Shariah-compliant financing structures.
• Jabal Omar Development Co. Saudi publicly listed master developer focused on integrated mixed-use real estate around the Grand Mosque in Mecca. Directly comparable to KEC's model of developing integrated residential, hospitality, and retail destinations within the sacred boundary, leveraging exclusive proximity to holy sites and government-backed development rights.
• Rua Al Madinah Holding: Saudi-listed developer of major hospitality and real estate projects in Madinah, focused on serving pilgrims and visitors. Highly comparable to KEC in both geography (Madinah focus) and product (integrated hospitality and residential developments serving religious tourism).

Broad incumbents

• Aldar Properties: Abu Dhabi-listed master developer of integrated residential, retail, hospitality, and education destinations. Comparable in master-planned community and mixed-use development approach, with similar government-backed positioning and Vision/Giga-project alignment in the GCC.
• Dar Al Arkan Real Estate Development: Saudi-listed large-scale real estate developer with nationwide master-planned communities and mixed-use developments. Comparable as a publicly listed Saudi developer of integrated destinations, though broader geographically than KEC's single-city Madinah focus.
• Emaar Properties: UAE-listed regional master developer with integrated residential, hospitality, retail, and leisure destinations (e.g., Downtown Dubai, Dubai Marina). Comparable in mixed-use destination model and global hospitality partnerships, though significantly larger and geographically diversified across MENA.

Others

• Knowledge City Infrastructure (KCI) / Saudi Real Estate Infrastructure Co. Saudi-listed real estate infrastructure investor focused on special economic and knowledge cities. Comparable as a peer economic-zone infrastructure investor operating in adjacent Saudi special zones, providing a useful benchmark for ECZA-regulated development economics.

Regional players

• ROSHN: Saudi PIF-backed residential developer building large-scale master-planned communities nationwide. Comparable in master-planned community development model and Vision 2030 alignment, though primarily residential (vs. KEC's mixed-use) and spread across multiple Saudi cities.

Emerging players

• Arabian Centres Co. Saudi-listed owner and operator of large-scale shopping malls across Saudi Arabia. Comparable as a KEC retail-tenant and potential competitor for retail leasing within KEC's Madinah Gate and Multaqa Almadinah destinations, sharing the same Saudi retail market dynamics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/KECMadinah
• LinkedInlinkedin.com/company/knowledge-economic-city
• Instagraminstagram.com/kecmadinah
• Xx.com/MadinahKEC

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds5 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Knowledge Economic City