DATUK Syed Mohamed Syed Ibrahim not only wants to give his best in everything he does but also likes challenges that will enable him to bring out his best.
This is the man whose name in the corporate circle is synonymous with the RM9.2bil smart township, @enstek in Negri Sembilan – a project by TH Properties Sdn Bhd where he was the chief executive officer. He left the company last month, after a four-year stint.
In March, the Universiti Malaya economics graduate will be heading to Saudi Arabia for a bigger challenge – to helm the development of the Madinah Knowledge Economic City (K.E.C. Madinah), a $25billion project.
“K.E.C. Madinah ranks third (in value and size) among the six economic cities to be developed throughout Saudi Arabia, after King Abdullah Economic City and Jazan Economic City,” said Syed Mohamed, 50.
He decided to take up the offer after he and his wife Datin Zaidah Zakaria visited Saudi Arabia in June last year.
While his decision has surprised many of his friends and business associates, it is also one that is not unexpected for those who know Syed Mohamed.
And he is fond of telling his listeners that anything one does must “at least be comparable to the best, if not the best.”
“I like challenges. I like to test my abilities,” he said of his new portfolio as chief operating officer. But what is even more exciting and meaningful for Syed Mohamed is the fact that he will be part of the team to restore the status of Madinah as a beacon of knowledge.
“Madinah is the second holiest city in Islam and the burial place for Prophet Muhammad,” he pointed out, adding that this was one of the three reasons why he decided to take up the job offer there.
K.E.C. Madinah, developed by Seera City Real Estate Development Company, is only five km east of Prophet's Mosque (Masjid Al Nabawi) and five km south of Mohammad Bin Abdul Aziz International Airport.
Its focus is on knowledge-based industries like science, technology, biotechnology, medical services, Islamic studies and social sciences.
The project, on 4.8 million sq metres, will take at most 12 to 15 years to complete, he added.With his 27 years of working experience in the property and banking sectors, Syed Mohamed is certainly upbeat on the booming Saudi economy.
The Arabs, he added, accepted global best practices in developing their country and they also had high regards for the achievements and capabilities of Malaysians.
“It is all about professionalism and meritocracy. When you see things that way, you will not have problems in establishing a good relationship and working together well with others,” he said.
The $6.7bn Knowledge Economic City in Medina will include a technology zone, an advanced IT studies institute, a campus for medical research and life sciences, and an interactive museum on the life of Prophet Mohammad alongside a retail zone, business district and residential zones including high rises, houses, fully serviced apartments, shopping malls and a mosque with a 10,000-worshipper capacity.
The Knowledge Economic City is closed to foreign investment as are all real estate developments in Medina and Mecca. For now, Saudi real estate plays will mainly involve finance sourced in the kingdom, or from its Gulf Co-operation Council partners.
The Holy City of Madinah, which lies in the central Hijaz 447 kilometers north of the Holy City of Makkah, is 625 meters (2,050 feet) above sea level. Sited on a fertile oasis, it is bounded on three sides by hills which form part of the Hijaz mountain range. The highest of these hills, Mount Uhud, rises more than 2,000 meters above the oasis.
The new development, valued at some SR25 billion, will reportedly create more than 20,000 new jobs in the city. The development, named ‘Knowledge Economic City’ will include the Taiba Technological and Economic Information Center, an interactive museum on the Prophet’s life, a center for studies of Islamic civilization, as well as a center for medical studies, biosciences and integrated medical services according to reports from the Saudi Press Agency, quoted in Arab News.
King Abdullah issued the license to develop the project, which will include housing for 200,000 as well as commercial centers.
Knowledge Economic City’s main investors include the King Abdullah Foundation, Savola Group, Real Estate Projects Management and Development Company and Taiba Investment & Real Estate Development Company, while the main investor of the project will be the Saudi Arabian General Investment Authority (SAGIA).
Knowledge Economic City will be developed on a 4.8 million m sq. land while the built up area will near 9 million m sq. attracting SR25bn worth of investments. The project will add 20,000 new jobs to the region.
Facts
Area: 4.8 million sq m
Investment Size: US$ 7 billion
Jobs: 20,000
Population: 50,000
Zones: Taiba Complex for Technology and Knowledge-based Economy, Technological and Administrative Colleges, Theme Parks, Islamic Civilization Studies Centre, Complex for Medical Studies, Biological Sciences and Health Services, Complete Business Centre, Residential Areas, Passengers station, Commercial Area, King Abdul Aziz Mosque
Focus: Knowledge Based industries, Tourism and Services
The Knowledge Economic City (KEC) is composed of several main components as follows: Taiba Complex for Technology and Knowledge-based EconomyTaiba Complex caters for the development of modern technologies, benefiting from its exceptional location near Al-Madinah. This technological park concentrates on meeting the technological demands of the Islamic world. It consists of a system of smart buildings and support services, which integrates the colleges and technological institutes in the City to provide a technically stimulating environment.
Technological and Administrative Colleges
Institutes of advanced technical studies including laboratories for scientific research, branches of local universities and research centers in the Islamic world in the fields of modern communications and applications, the information technology and industries, the software development automation and multimedia. It also includes colleges of business administration.Islamic Civilization Studies CentreThis part of the project addresses the subject of the Islamic civilization through the process of gathering, collecting and presenting the disciplines of Islamic civilization that naturally include knowledge, culture, values and principles based on tolerance and goodwill.
Complete Business Centre
In the heart of the City, business towers rise to accommodate the companies operating in Medina as well as knowledge-based industries that will be attracted by the project. The City is equipped with an advanced infrastructure, as well as conference halls, exhibition centers and offices accommodating up to 10,000 employees.Other components include the Complex for Medical Studies, Biological Sciences and Health Services, the "Seera Land" theme park, a passenger’s station and residential & commercial areas.
US software giant Oracle on Sunday signed a deal with Saudi Arabia’s Knowledge Economic City (KEC) in Medina to provide technology and expertise to help in the city’s development. Under the Memorandum of Understanding (MoU), Oracle will help in developing a blueprint for KEC and establish an Oracle Training Academy to supply the city with skilled labour. Construction on the 25 billion Saudi riyal ($6.7 billion) project is expected to begin in January 2008.
MEDINA: Malaysia will help Saudi Arabia build a RM25bil high-tech knowledge-economic city here.
“This is going to be a landmark not only for Saudi Arabia but also for the Muslim world,” said Deputy Prime Minister Datuk Seri Najib Tun Razak.
“It shows two Muslim countries can co-operate and collaborate in the interest of the ummah (Muslim community) and can indeed transform the Muslim world,” he said here on Monday.
He earlier witnessed the signing of a memorandum of understanding between Malaysia’s Multimedia Development Corporation (MDeC) and Saudi’s Seera City Real Estate Development Corporation to build the Medina Knowledge Economic City (KEC).
Najib said it was only fitting that Medina – the holy city that marked the beginning of the Islamic acquisition of knowledge – was chosen to transform the Muslims and to bring about a true revival.
“This will not only transform Medina but elevate its standing in the eyes of the world,” added the Deputy Prime Minister.
Najib said he was proud that Malaysia had been chosen as Saudi Arabia's partner for the KEC, which is patterned after Malaysia’s own Multimedia Super Corridor and Cyberjaya.
“We are willing to share our experiences and all our expertise. We have built the MSC and Cyberjaya and we will share the experience gained to make this project a real success,” he said.
He also suggested that Saudi Arabia and Malaysia embark on twinning programmes between the MSC and the KEC, adding that MDeC has the framework to bring in the Malaysian companies.
MDec is one-stop agency established to facilitate the development and promotion of the MSC.
Seera City managing director Dr Sami Baroum said they were already in talks with a number of Malaysian companies.
“The project is huge and can absorb as many joint ventures as possible,” he added.Physical work on the project will start in August and the first phase is expected to be completed in three-and-a-half years, he said.
That phase, he said, would include educational and health segments, hospitals, a hospitality complex, museum and some residential and retail shops.
Dr Sami said Medina, because of its holy status, was exclusively for Muslims and, hence, the projects would go to companies from the Muslim world.
“Malaysia is on top of the Organisation of Islamic Conference (OIC) in terms of technology and capability and experience,” he added.
KEC will be ready in 12 to 15 years. Spread over 4.8 million sq metres, there will be, among others, technology and knowledge complexes, an interactive museum, a business centre and Islamic civilisation studies, technology and administrative centres.
