By Sam Bridge
Former CEO of Emaar the Economic City takes helm at authority responsible for development of Saudi capital city
Saudi Arabia’s King Salman Bin Abdul Aziz Al Saud has appointed Fahd Abdulmohsan Al-Rasheed as president of the Royal Commission for Riyadh City (RCRC), following his appointment in 2018 as advisor at the Royal Court.
The commission is responsible for the urban, economic, social, and cultural development of Riyadh, the capital city of Saudi Arabia.
Al-Rasheed has also previously served as CEO of Emaar Economic City, the publicly listed developer of the King Abdullah Economic City (KAEC).
During his tenure at KAEC, Al-Rasheed spearheaded the development of King Abdullah Port, the first private port in the region and one of the world’s 100 largest port facilities.
Al-Rasheed also served as CFO and deputy governor at the Saudi Arabian General Investment Authority (SAGIA) and worked at Saudi Aramco, where he led several corporate finance initiatives.
In addition to his new position as RCRC president, he will continue his roles as vice chairman of the board of trustees of the Prince Mohammed bin Salman College of Business and Entrepreneurship, which aims to be an incubator and trainer of business entrepreneurs and future leaders across key sectors.
He is also founder and chairman of the non-profit Red Sea Foundation, based in Geneva, which promotes trade across the Red Sea region.
Al-Rasheed was honoured as a Young Global Leader by the World Economic Forum in 2011.