Knowledge Economic City was launched by King King Abdullah bin AbdulAziz in June 2006 and is the third of six economic cities announced by Amr Dabbagh, Governor of the Saudi Arabian General Investment Authority. The 30 billion riyal (USD7 billion) project is located in Madinah, the home of the Prophet Muhammad and where the Qur'an was compiled.
Knowledge Economic City Master Plan
Knowledge Economic City is a project to position Saudi Arabia and Saudi Arabian entrepreneurs as leaders in knowledge based industries and aims to attract and develop talent from around the world.
20,000 jobs and accommodation for 150,000 people will be created by the project which is expected to bring about 10 billion Riyals a year into the region once it is completed by 2020.