The first board meeting of the Knowledge Economic City was held in Jeddah where several key issues of the KEC were laid out. Among the issues tackled during the meeting was the start of basic infrastructural work based on KEC's masterplan. “KEC promises to become a landmark for Muslims worldwide and an international icon of successful economic development founded on Knowledge-Based Industries” said newly selected Chairman of the Board, Ibrahim Bin Mohamad Al-Issa. Knowledge Economic City (KEC) is the third of five Economic Cities being developed in Saudi Arabia. The 4.8 million square meter project is located approximately 5km east of Al-Haram and 7km from Madinah Airport. KEC has an aggregated investment of more than SR30 billion and should provide over 20,000 job opportunities as well as reach an accommodation capacity of 150,000 residents. The first stage of the project will comprise a residential area including 100 villas and 300 apartments, educational, knowledge and tourist facilities. KEC was established by the King Abdullah Foundation for His Parents, Savola Group, Quad International Real Estate Development Company, Project Management Development Company (PMDC), and Taiba Investment and Real Estate Development Company. The meeting was attended by HRH Prince Khalid Bin Abdullah Bin Abdul Aziz Al-Saud, H.E. Dr. Youssef Ben Ahmad Al-Othaymeen, H.E. Ibrahim Bin Abdul Rahman Al-Tassan, H.E. Engr. Abdul Aziz Ben Abdul Rahman Al-Hussayin. Also in attendance were His Excellency Ibrahim Ben Mohamed Al Issa, and Dr. Sami Mohsin Baroum, Moussa Amran Al-Amran, Sheikh Saleh Bin Laden, Abdullah Mohamed Al-Zaid, and Eng. Taher Mohamed Bawazir. The board of directors appointed Ibrahim Bin Mohamad Al-Issa as Chairman of the Board, while Sheikh Saleh Bin Laden was named Vice President. H.E. Mansour Mahmoud Abdul Ghaffar was nominated as a member of the Board of Directors of Knowledge Economic City Development Company, while Mahmoud Mansour Abdul Ghaffar was named supervisor for the board of directors. An executive committee to be headed by His Excellency Ibrahim Al-Tassan was also constituted. Dr. Sami Baroum, Sheikh Saleh Bin Laden, and Eng. Taher Bawazir are all members of the committee. __
