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Knowledge Economic City gains as firm appoints CEO

The Saudi Arabian Tadawul All-Share Index advanced 0.23 per cent, finishing at 8,637.74 points on Sunday, January 5. Knowledge Economic City, also known as KEC, surged 1.42 per cent to hit SR17.80. Earlier in the day, the developer of infrastructure, communication networks, water, electricity and other works related to the development of economic cities, said Engineer Ibrahim Ahmed bin Mohammed Al Balushi was appointed as Chief Executive Officer for the company effective February 5 2014. Engineer Ibrahim Al Balushi holds a bachelor’s degree in electrical engineering from King Fahd University of Petroleum and Minerals and features a distinguished experience in the financial and the real estate sectors, through his previous career in the Islamic banking and investments sector in Saudi Arabia and other Gulf states. He also served as Project Manager for the Middle East and North Africa at the International Financing Company of the International Bank. In the real estate and investments sector, he held several leading positions and executive functions in a number of companies and also received a number of courses and specialized trainings in modern methods of operational and financial management, KEC said in a filing to the Tadawul bourse.