Page 37 - KAEC PR REPORT - APRIL 2024

4/12/24, 12:57 PM Emaar, the Economic City Appoints Mr. Abdulaziz Alnowaiser as CEO, Effective 1st May 2024 | MENAFN.COM
responsibilities as of the date of joining of the new CEO.

Mr. 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 organization

and the City. With more than two decades of Board-level and executive experience, his most
recent role was the CEO of Tahakom Investments Co., a wholly-owned Company of the
Public Investment Fund 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. Mr. Alnowaiser 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. He is also, or was, a member of the Board and/or
Board Committees of several other listed and non-listed companies. 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.

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.

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