NEOM, the 500 billion-dollar futuristic megacity being built in Saudi Arabia, has replaced its CEO, Nadhmi Al Nasr, who has been the project’s chief executive since 2018.
Aiman Al Mudaifer has been appointed “acting CEO of the company”, NEOM said in a statement. NEOM did not provide a reason for Al Nasr’s departure.
“As NEOM enters a new phase of delivery, this new leadership will ensure operational continuity, agility and efficiency to match the overall vision and objectives of the project,” the statement said on Tuesday, November 12.
Al Mudaifer will lead the company with the support of a strong leadership team that spans across NEOM’s various regions, sectors and departments.
Since 2018, he has served as Head of Domestic Real Estate Investments at the Public Investment Fund (PIF), and has a deep strategic understanding of NEOM’s projects and future vision.
Al Mudaifer, a board member of prominent companies in the Kingdom, oversees local real estate investments and infrastructure projects at PIF.
Crown Prince Mohammed bin Salman’s NEOM project, known for its centerpiece, The Line, is a 170-kilometer mirrored building stretching across the desert from the Gulf of Aqaba.
In October, Saudi Arabia opened the luxurious Sindalah Island in NEOM, the first project in the futuristic city, extending 840,000 square meters and expected to attract 2,400 daily visitors by 2028.
