KEC appoints new CEO
Eng Ibrahim Ahmed bin Mohammed Al Balushi to lead $7bn project
Knowledge Economic City, the developer responsible for delivering a new education-led city project in Saudi Arabia's holy city of Madinah, has appointed a new CEO.
The company said that Eng Ibrahim Ahmed bin Mohammed Al Balushi will begin his new role as CEO of the firm from 5 February.
Eng Al Balushi has experience of both the finance and property industries, in the Kingdom and outside. He also served as a project manager for the MENA region at an international finance company.
KEC added that its acting CEO, Dr. Marwan Mohammed Fahmie, will continue in his existing role as vice-president for projects and operations.
In November 2013, Knowledge Economic City announced it had set up a joint venture with Saudi Real Estate Co to sell some of the 206 villas being completed as part of the first phase of its gated Al Madinah Al Munawwarah community. The handover of the first of these units began during the last quarter of 2014.