Riyadh – Mubasher: Emaar The Economic City’s board appointed Abdulaziz Ibrahim Alnowaiser as CEO.
Alnowaiser will assume the position as of 1 May 2024, according to a bourse filing.
The board appointed incumbent CEO Cyril Piaia as advisor effective 1 May to facilitate the handover price.
Emaar The Economic City has rescheduled, on 1 April 2024, a facility agreement offered by the Public Investment Fund (PIF) to be extended from 18 months to 21 months.
Alnowaiser brings over two decades of diverse executive experience, including board-level positions. His most recent role was CEO of Tahakom Investments Co., wholly owned by the Public Investment Fund, with subsidiaries spanning various sectors.
Before this, he served as M&A Advisor and Vice President of Finance (CFO) at Arabian Internet and Communications Services Co. (Solutions), and Vice President of Finance (CFO) at Al Othaim Real Estate Investment & Development Company. He also served as CEO of the House of National Consulting Company.
Alnowaiser holds degrees in accounting, finance, and information systems, along with a Diploma in International Financial Reporting Standards (IFRS).
In February 2023, Emaar The Economic City’s board accepted a request by Piaia for not renewing his contract.
