Knowledge Economic City, the Saudi Arabian developer of a landmark economic zone in Madinah, appointed Dr. Moath Ahmed Alyahya as chief executive officer, effective July 19, 2026. Alyahya, who brings more than two decades of experience in real estate development and portfolio management, succeeds Hazem Elbanna, the company's chief operating officer who had led KEC on an interim basis since Mohammad Almubarak stepped down at the start of 2026.
The appointment comes as KEC, a publicly listed company on the Saudi Exchange under ticker 4310, moves forward with infrastructure development and asset monetization across its sprawling landholdings. No search firm involvement was disclosed in the appointment announcement. The timing of Alyahya's arrival follows significant capital infusions: the company secured SAR 152 million in financing from Saudi International Bank in early July and has embarked on major infrastructure contracts, including a SAR 91 million deal signed recently with SALCO Saudi Contracting for the Southeastern District.
Alyahya comes to KEC from AlRajhi United Real Estate, where he served as chief executive officer. His prior career encompasses senior leadership roles at the Saudi Labor and Social Development Ministry, Osoul Integrated Real Estate, and the Public Pension Agency. He holds a doctorate in project management from Queensland University of Technology, providing technical grounding in asset delivery and strategic project execution—credentials particularly valuable for a company navigating a complex masterplan development across 2 million square meters in Islam's second holiest city.
Knowledge Economic City was launched in 2006 as one of Saudi Arabia's flagship economic cities, designed to anchor knowledge-based industries, educational facilities, and mixed-use development in Madinah. The company operates as a publicly listed joint-stock entity tasked with developing and managing the broader Knowledge Economic City masterplan, which encompasses residential, commercial, recreational, and knowledge-focused initiatives. The project serves as part of Saudi Arabia's Vision 2030 diversification strategy, with the city positioned as a hub for innovation and talent attraction.
Alyahya's appointment reflects KEC's need for seasoned real estate leadership at a pivotal moment. The company operates in a uniquely constrained market: Madinah's status as Islam's second holiest city has historically limited foreign ownership. Recent regulatory changes have opened KEC's land bank as one of the few sanctioned routes for non-Saudi capital into the holy city's real estate sector, creating both opportunity and execution pressure. His track record managing large-scale developments and institutional investor relationships suggests the board believes he can simultaneously drive construction milestones and unlock the foreign capital now accessible to the company, potentially reshaping its financial trajectory.
