Page 34 - KAEC PR REPORT - APRIL 2024

4/12/24, 12:57 PM Alnowaiser named Emaar, the Economic City's new CEO
Alnowaiser named Emaar,

the Economic City's new
CEO

JEDDAH, 8 days ago
Emaar, the Economic City (EEC),
the master developer of King
Abdullah Economic City (KAEC),
has appointed Abdulaziz Ibrahim
Alnowaiser as its new CEO
effective May 1.

Announcing the board decision,
today (April 3), EEC said
Alnowaiser, an industry veteran
with an extensive background in
turnaround, finance and corporate
governance, has been picked up
for the top post owing to his ability to drive the execution of the company's long-term strategic
vision.

Additionally, the current CEO, Engineer Cyril Piaia, has been appointed as an advisor to Alnowaiser,
which will facilitate a seamless transition of responsibilities as of the date of joining of the new CEO.

With more than two decades of board-level and executive experience, his most recent role was the
CEO of Tahakom Investments Company, a wholly-owned unit of the Saudi wealth fund PIF with
several subsidiaries across different sectors including technology, aviation, traffic management,
travel & visa solutions, human resources and real estate investments.

He was previously the M&A Advisor and Vice President Finance (CFO) at Arabian Internet and
Communications Services Co. (Solutions), prior to which he was Vice President Finance (CFO) at Al
Othaim Real Estate Investment & Development Company and CEO of the House of National
Consulting Company.

He is currently the Chairman of the Board and the Executive Committee at Tawuniya Insurance
Company since 2020, and was a board member from 2015 to 2019.

His educational qualifications includes prestigious degrees in accounting, finance and information
systems, as well as a Diploma in International Financial Reporting Standards and other professional
certifications.

In the new role, Alnowaiser will be mandated by the board to bring strategic insight to EEC and
KAEC’s long-term planning, fostering innovation and sustainable development across the
organisation and the City.

Welcoming the appointment, Fahad AlSaif, Chairman of EEC, said: "This 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

https://www.tradearabia.com/news/BANK_420732.html 1/2