Page 22 - KAEC PR REPORT - APRIL 2024

4/12/24, 12:56 PM Emaar, the Economic City appoints Mr. Abdulaziz Alnowaiser as CEO, effective 1st May 2024

Mr. Fahad AlSaif, Chairman of EEC, commented, “The appointment of Mr. Alnowaiser as

CEO is an important moment for both EEC and KAEC as we pursue the implementation of

our ambitious long-term strategy. His leadership skills and diverse professional
experience are precisely the attributes EEC and KAEC require to achieve their

operational, financial and strategic goals, and we are certain that his forward-thinking
approach will drive meaningful progress for our development projects. We would like to

thank Eng. Cyril Piaia for his commitment and success in the role of CEO over the years,
and we are delighted that he will remain with us to continue to advise our new CEO."

The Board of Directors expresses its profound gratitude to Eng. Piaia for his outstanding

leadership and contribution to ECC and KAEC, and is confident that Mr. Alnowaiser will
build on this solid foundation to propel the Company forward.

About King Abdullah Economic City

King Abdullah Economic City (KAEC) is an emerging destination centrally located on the

Red Sea coast of Saudi Arabia. Located a short distance north of Jeddah, KAEC is a 185
square kilometer city anchored by King Abdullah Port—recently named by the World Bank

as the most efficient port in the world—and KAEC Industrial Valley, which is focused on
logistics and light manufacturing. Over 100 multinational and Saudi companies have

already made their home in KAEC, engaging in diverse activities ranging from advanced

logistics to automotive, pharmaceuticals, FMCG, packaging, and building materials
manufacturing. KAEC is directly connected to the Haramain high speed railway network

and the Saudi National Highways grid, making the city a key node along the Red Sea
economic corridor.

KAEC also offers a modern leisure and tourism district which includes over 40km of

pristine coastline, several hotels and the award-winning Royal Greens international
tournament golf course. In 2021, the city welcomed over 1 million visitors, and has

developed a range of lifestyle residential communities for its growing population of full-
time residents and second home owners.

https://www.zawya.com/en/press-release/people-in-the-news/emaar-the-economic-city-appoints-mr-abdulaziz-alnowaiser-as-ceo-effective-1st-may-20… 3/4