The inaugural edition of the +966 Leaders Book, a comprehensive guide celebrating the best business leaders and the who’s who in the Kingdom of Saudi Arabia. As the world’s leading oil exporter, Saudi Arabia has always been at the forefront of economic development and innovation, and the individuals featured in this book are a testament to the kingdom’s continued success.
The business landscape in Saudi Arabia is rapidly evolving, and this book aims to showcase the leaders who are shaping and driving this transformation. From entrepreneurs and CEOs to policymakers and thought leaders, the individuals featured in this book come from a diverse range of industries and backgrounds, but share a common goal: to create a prosperous and sustainable future for Saudi Arabia.
The past year has been challenging for businesses worldwide, but the leaders featured in this book have shown remarkable resilience and adaptability in the face of adversity. They have demonstrated an unwavering commitment to their organisations, employees, and communities, and have emerged as beacons of hope and inspiration.
In this book, you will find interviews with some of the most influential leaders in Saudi Arabia, as well as profiles of rising stars and innovative thinkers who are shaping the future of their respective industries. We have also included a section on the top business schools in the kingdom, as well as insights from experts on the latest trends and developments in the Saudi business landscape.
It is our hope that the +966 Leaders Book will serve as a valuable resource for anyone looking to do business in Saudi Arabia or to gain insights into the kingdom’s economic and cultural landscape. Whether you are a seasoned executive, an entrepreneur, or a student, we believe that the stories and perspectives shared in this book will inspire you and provide you with a deeper understanding of the unique opportunities and challenges of doing business in Saudi Arabia.
I would like to express my heartfelt gratitude to all the leaders who have generously shared their time and insights with us, as well as to our team of writers, editors, and designers who have worked tirelessly to bring this book to life. We hope that you will enjoy reading it as much as we have enjoyed putting it together.
NAME: Tareq Al Sadhan
DESIGNATION: President and CEO
COMPANY: Riyad Bank
INDUSTRY: Banking
Appointed to his current role in 2019, Al Sadhan held the position of the senior executive vice president at the bank. His career trajectory began with 18 years in several key roles at KPMG Saudi Arabia, where he rose through the ranks to eventually become one of the firm’s youngest partners in its history. During his last five years at the company, he held multiple key leadership roles, including the CEO, the managing partner, and the chairman of the advisory committee. Prior to his current position, Al Sadhan worked in KSA’s public sector, including as the deputy governor for supervision at the Saudi Central Bank (SAMA); as the advisor to the chairman in the Saudi Fund for Development (SFD); as well as the acting director general at the General Authority for Zakat and Tax (GAZT).
Background and education
A member of the 2020 World Economic Forum’s Stewardship Board for the Middle East and North Africa, Al Sadhan is also a fellow of the American Institute of Certified Public Accountants in addition to the Saudi Organisation for Certified Public Accountants. He holds a bachelor’s degree in administration science from King Saud University as well as a master’s degree in business management from École des Ponts ParisTech, France. He also holds a diploma in international business from the University of Edinburgh, and a diploma in leadership development and strategy from INSEAD.
About Riyad Bank
Riyad Bank is one of the largest financial institutions in KSA as well as the Middle East, with a strong corporate and retail franchise. Mobilising its substantial capital base and with decades of expertise to assume a leading role in all areas of Saudi finance, Riyad Bank is a leading financier and arranger of syndicated loans in the oil, petrochemicals and most of the Kingdom’s notable infrastructure projects. On the retail front, Riyad Bank’s individual solutions are designed to meet the needs and requirements of all economic segments. The bank has a network of 340 branches in KSA, as well as a London branch and offices in the US as well as in Singapore. It employs more than 6,620 people as of 2021.
Contributing to the national infrastructure
Riyad Bank steers initiatives by supporting the digital transformation, developing the private sector and establishing economic partnerships. Riyad Bank seeks to contribute to the development of infrastructure and support the National Transformation Program through initiatives that include the Culture Road Program; We Finance, You Manufacture; and Ubour Initiatives.
NAME: Yasir Othman Al Rumayyan
DESIGNATION: Governor, Chairman
COMPANY: Public Investment Fund (PIF), Saudi Aramco
INDUSTRY: Industry
With experience that encompasses over two decades working in some of KSA’s key financial institutions, Al Rumayyan embarked upon his career at Saudi Hollandi Bank as the head of international brokerage between 1999 and 2004, before joining the Capital Markets Authority (CMA) as the head of securities listings.
He has been in his current role with the PIF since 2017 and has helped spearhead their deal to buy the English football club Newcastle United, giving PIF 80 percent of the ownership in the $407 million takeover. Aligned with Vision 2030, part of PIF’s 2021 to 2025 strategy is to spearhead new economic and business opportunities in KSA as one of the world’s largest sovereign wealth funds, with a total AUM valued at around $620 billion.
Some notable examples of PIF-owned giga-projects include NEOM and The Red Sea Development Co., which has signed over 800 local and international contracts worth more than $5.3 billion as of April 2022. In his current role at PIF, Al Rumayyan has been leading all areas of operation of the sovereign wealth fund, which sits at the heart of Saudi Arabia’s Vision 2030. and economic transformation strategy.
Backed by solid experience
Al Rumayyan holds key positions on the boards of some of the world’s most influential companies and organisations, most notably as the Saudi Aramco chairman since September 2019 which is considered the world’s most valuable listed company.
A former member of the board of directors of the Saudi Stock Exchange (Tadawul), he is also the chairman of the Decision Support Centre. He is an advisor to the General Secretariat of the Council of Ministers of Saudi Arabia; holds board roles with Saudi Aramco, the Saudi Industrial Development Fund SoftBank Group Corp. and Uber Technologies. He earned an accounting degree from King Faisal University in KSA and is a graduate of the Harvard Business School’s General Management Programme.
New investment in the aviation sector
The launch of Riyadh Air, KSA’s new national carrier, is part of the Kingdom’s ‘wider strategic plan’ to transform the country into a global hub for aviation. Saudi Arabia’s new national airline will operate its first flights in early 2025 from its hub in Riyadh.
The PIF-owned Riyadh Air is expected to add $20 billion to the kingdom’s non-oil GDP growth, creating more than 200,000 direct and indirect jobs. Riyadh Air will be chaired by Al Rumayyan, and represents PIF’s latest investment in the sector, along with the recently announced King Salman International Airport masterplan.
NAME: Olayan AlWetaid
DESIGNATION: CEO
COMPANY: Saudi Telecom Company (stc)
INDUSTRY: Telecoms
Appointed to his role at stc since 28 March 2021, Alwetaid is also the chairman of SAMENA and a GSMA Board Member. Backed by over two decades of experience, he has climbed an upward trajectory across several key senior leadership roles at stc, including as the senior VP for the consumer sector; stc Bahrain’s CEO, in addition to vice chairman of the BoD of stcPay. He leads multiple boards of directors of stc subsidiaries including Integral, CCC, and Channels, in addition to holding the responsibility of chairman of several committees of these boards.
About STC
Leading the region’s digital transformation nationally and regionally, as a pioneer digital champion, stc offers a variety of ICT solutions and digital services across multiple categories including digital media, IT, telecommunications, financial technology, cybersecurity, and other advanced digital solutions. Transforming from a telecommunications provider to an advanced digital player, stc is backed by multiple achievements across cloud services, cybersecurity, digital transformation, application programming interface (API) management, and big data, and are aligned toward the successful achievement of the three key pillars of Vision 2030, namely a vibrant society, a thriving economy, and an ambitious nation.
Strategic agreements
On 7 February 2023, stc Group signed a partnership agreement with SKYFive Arabia, the leading provider of Air-to-Ground (A2G) based solutions and services, to introduce the new concept of In-Flight Connectivity (IFC) to airlines in KSA. With the roadmap to expand across the entire MENA region in the near future, the partnership will deliver unparalleled connectivity that will enrich airlines and passengers’ travel experience. This agreement confirms the group’s dedication to contributing towards the realisation of the Kingdom’s digital transformation by providing unrivalled connectivity in the air and on the ground.
Helping support local content
With ongoing efforts to support local content in KSA, a key pillar of Vision 2030, during the PIF’s Private Sector Forum held in Riyadh on 14 to 15 March, stc signed several new strategic agreements with domestic companies in a move to increase the production of local content. The first agreement is with Ebttikar, which provides recycling services and the preservation of raw materials and is aimed at supporting sustainability efforts. Another was with Holoul to provide smart solutions for conference rooms and private offices. During the forum, stc also introduced a ‘partner hub’ platform that will open up wider investment opportunities for suppliers.
NAME: Assad Numan
DESIGNATION: CEO
COMPANY: HungerStation
INDUSTRY: Transport
A former Uber Eats general manager, Numan was appointed to his current role at HungerStation in 2020. A pioneer in the kingdom’s express delivery space, prior to working for Uber Eats, Numan juggled multiple key management roles, including the KSA head of Marketing and e-commerce business at Samsung Electronics, the vice president of marketing at Gulf International Bank, and the GCC brand manager at Procter & Gamble. He was also the co-owner of Organica, an organic farm that commercially produce vegetables, fruits, meat and poultry products founded in 1990.
About HungerStation
Launched in 2012 in Al Khobar, HungerStation, the first Saudi food delivery app in the region, quickly expanded and progressed. Steered by KSA’s burgeoning infrastructure, the company attracted investors and talent, and today, HungerStation offers over 10,000 partners operating in more than 80 cities in KSA and Bahrain. HungerStation is the owner of the first Saudi application for express delivery and enables customers to order in KSA and Bahrain. Beyond local and internationally established restaurants, HungerStation extends to supermarkets, florists, pharmacies, and more with a list that is updated daily. It offers easy payment options from the comfort of your home.
A leader in the express delivery sector
Ranked amongst the largest technology companies in the Arab world, HungerStation also provides groceries on demand through its Quick market service as well as offers Fazaa, a personal shopper service. An innovative business model amalgamating advanced digital technologies, talent, and effective governance, have steered HungerStation to maintain its position as a leader in the express delivery sector in the kingdom.
With the Saudi government keen to regulate and protect the delivery sector, HungerStation includes four pillars, namely, the consumers, technology and its management, the producers, and delivery representatives.
Aligned with Saudisation
As KSA continues to develop a new knowledge-based economy, in addition to supporting Saudisation and the wider Vision 2030, HungerStation launched the largest recruitment campaign aimed to attract Saudi applicants to the private sector. Also committed to sustainability and community support, the company works with the Saudi food bank, Eta’am and its restaurant partners, to provide more than 2.6 million free meals to needy families, as well as supports the Saudi ADHD Society and workers in the Emergency and Disaster Centre.
NAME: Naif Saleh Alrajhi
DESIGNATION: Chairman and CEO
COMPANY: Naif Alrajhi Investment
INDUSTRY: Investment
A Saudi businessman with more than two decades of experience in the real estate and financial sectors, Alrajhi launched Naif Alrajhi Investment Group in 2012, a Saudi premier investment group. Headquartered in Riyadh, KSA and boasting a global footprint across the UK, the UAE, Morocco and Italy, the Group invests in multiple sectors, from real estate and capital markets to mergers and acquisitions. With a diverse investment portfolio that reflects the expertise and unique competencies across 11 distinct sectors, along with real estate development, mining, architecture, MEP, marketing and other various sectors.
The Group is involved in real estate, hospitality, F&B, mining, contracting and interior solutions, financial markets, logistics, among many others. Alrajhi initiated his career trajectory in commerce in 2001, followed by a role in real estate development two years later in Riyadh, where he spearheaded key hospitality and residential projects as well launched the first real estate fund of its kind in KSA, which was followed by expansion into Dubai, UAE.
Helping companies explore their potential
As part of a pillar of Vision 2030 which aim to create an attractive environment for local and foreign investments, Naif Alrajhi Investment helps companies select the right partner steered by a commitment to business diversification. Since inception, the Group has been steered by a competitive edge in the world of investment by investing in opportunities. As a result, the Group has forged ensuring strategic collaborations and helped steer the success of its business partners, irrespective of the investment, the industry, or the size.
In addition to investments across mining, architecture, real estate development, marketing, MEP, and more, the company also recognises the importance of digitisation and invests in technology and IOT. Also active in capital markets, Naif Alrajhi Investment manages its self-owned portfolios across key local and international capital markets.
A pioneer in the real estate sector, Naif Al Rajhi Investment boasts an expansive portfolio of multi-purpose projects in several countries including the KSA, the UK, Morocco, and the UAE, as well as hospitality, commercial and residential projects. The Group also invests in supporting sectors including interior design, contracting, decor, engineering, as well as furniture manufacturing.
The company’s portfolio also includes a robust F&B segment, with brands and well-known restaurants that encompass bakeries, ethnic venues, fast food as well as chocolate and sweets, with plans to expand its investments in the coming years to include fine dining and more.
NAME: Fahd Hamidaddin
DESIGNATION: CEO and Board Member
COMPANY: Saudi Tourism Authority
INDUSTRY: Hospitality
A board member of the Saudi Tourism Authority, in his current role at Saudi Tourism Authority, Hamidaddin steers the Authority’s mandate to promote KSA globally and regionally. One of the key pillars at the heart of Vision 2030’s plan to help diversify the economy and reduce reliance on oil includes tourism development which promises to be an important driver of growth for the future of KSA. To support the growth and success of this sector, the Saudi Tourism Authority, the Ministry of Tourism, and the Tourism Development Fund were developed in line with international best practice.
Helming multiple levels of promotion, he leads the Authority in driving and coordinating marketing and communication efforts, developing destination concepts and value propositions, building partnerships with key stakeholders to promote destinations globally and domestically, as well as define and deliver tourism experiences by conducting research and studies. Hamidaddin also oversees the development of the Visit Saudi destination brand and the monitoring of visitor experiences to the kingdom.
Previous roles and responsibilities
Backed by robust experience across key segments, prior to his current role, Hamidaddin held the role of chief investment, strategy, programs, and tourism marketing officer at the Ministry of Tourism, where he was instrumental in launching the electronic visa as well as in introducing the first global tourism marketing campaign that established KSA as the world’s most exciting new tourism destination.
Other key roles he has held previously include the chief of Marketing and Competitiveness at the Saudi Arabian General Investment Authority (SAGIA), where he won five international awards for communications and advertising campaigns, and online marketing strategy. as well as the chief commercial officer at King Abdullah Economic City (KAEC), where he led the Destination Management Office and spearheaded marketing, corporate communications, and sustainable development projects.
Key achievements
He is also a member of the Board of the General Authority for Conventions and Exhibitions and several government committees. Among his many achievements throughout his career, Hamidaddin is also a member of the Board of Trustees of Prince Muhammad bin Salman College of Business and Entrepreneur; a member of the Board of the General Authority for Conventions and Exhibitions; as well as a member of the Board of the Qiddiya Investment Company.
NAME: Faisal Haddawi
DESIGNATION: CEO
COMPANY: Abdullah Abdulaziz Al Rajhi & Sons Company (Al Rajhi Business)
INDUSTRY: Diversified
In his current role as the CEO of Abdullah Abdulaziz AlRajhi & Sons Company (Al Rajhi Business), considered one of the largest companies in the private sector, Haddawi has over 23 years of extensive experience spanning across the industrial, real estate and investment sectors. He obtained a bachelor’s degree from King Fahd University of Petroleum specialising in mechanical engineering followed by an MBA from the University of Manchester.
Advanced levels of specialisation for Haddawi includes certificates in Advanced Negotiation from INSEAD in France as well as a certificate of alternative investments from the Harvard Business School. Prior to his current role at Abdullah Abdulaziz AlRajhi & Sons Company (Al-Rajhi Business), Haddawi held the role of group CEO of Al Rajhi Industrial Group from January 2020 to December 2021.
An experienced board member
Haddawi is a board member of several leading companies including the National Steel Company, Al Jazeera Home Appliances Company and Falcon, and boasts a history of working in several industries, including manufacturing, real estate, and investment. With extensive knowledge of Nomu market IPO, he is skilled in strategies, sales, operations, business development, project management, organisational development, cost cutting, as well as restructuring & turnaround. He is also a consultant engineer on the Saudi Council of Engineers since July 2018 in addition to an associate member of the GCC Board Directors Institute (GCC BDI) since November 2020.
About Al Rajhi Business
Founded by Sheikh Abdullah bin Abdulaziz AlRajhi in 1964 in Riyadh, KSA, Abdullah Abdulaziz AlRajhi & Sons Holding Company and its subsidiaries (AlRajhi business) is a leading group in the investment, industrial, and real estate business sectors that was established to carry out its activity in the capital and within the framework of Vision 2030, to expand the economic base, to diversify revenue streams, and encourage the private sector to play an active role in advancing economic development.
The group consists of companies serving several areas of its main headquarters in Riyadh, and is characterised by the diversity of its real estate investments in more than 25 cities and multiple industrial investments in many sectors of food, consumption and building materials, in addition to local and international financial investments. Boasting company capital valued at $399.3 million, Abdullah Abdulaziz AlRajhi & Sons Holding Company consists of three main sectors, namely Al Rajhi Investment, Al Rajhi Real Estate and Al Rajhi Industry.
NAME: Ahmad Al Zaini
DESIGNATION: Chairman
COMPANY: Foodics
INDUSTRY: Technology
A serial entrepreneur by nature, Al Zaini is the powerhouse behind Foodics, the leading cloud-based technology and payments platform for restaurants in the MENA region. Foodics, headquartered in KSA, is Al Zaini’s third venture. Last year, he successfully raised $170 million in the largest SaaS Series C funding round in MENA led by Prosus, one of the largest global technology investors in the world, and Sanabil Investments, a PIF-owned investment company focused on private growth investments in various stages of the business cycle.
As an entrepreneur, Ahmad has been recognised widely with many accolades, including the award by Endeavour Global as a high-impact entrepreneur. Having recently completed a Harvard Leadership course, he remains very active in the entrepreneurial ecosystem. An angel investor in several tech start-ups, Al Zaini is also a board advisor and business consultant for several companies.
Always ahead of new technologies
Al Zaini thrives on introducing new technologies that change how people interact and connect with their favourite food brands. Foodics was created after he observed a lack of technology in the F&B sector back in 2014, particularly in the ordering process, at a time when many restaurants were also facing other operational challenges. He consequently built on this idea and developed a whole tech stack over time and a fully integrated ecosystem, enabling the entire F&B industry.
About Foodics
With over 600 employees, Foodics has grown from its humble Khobar beginnings, to now have eight offices across KSA, the UAE, Egypt, Jordan, Kuwait, and The Netherlands. Formally licensed as a Fintech company by the Saudi Central Bank (SAMA), it caters to every segment of the F&B sector from traditional dine-in restaurants, cafés, quick service restaurants, bakeries, and food trucks through to cloud kitchens.
Steered by Al Zaini’s visionary leadership, Foodics has successfully processed over six billion orders through the platform, making it one of the most promising SaaS companies to emerge from the MENA region. Today, Foodics is an end-to-end restaurant management and Fintech ecosystem that empowers F&B owners and merchants to run their operations more seamlessly and efficiently, thereby fast-tracking their own business growth in the process.
In Q1 2022, Foodics made its first acquisition with the full ownership of POSRocket, the second largest restaurant cloud technology provider in the MENA region. This first acquisition opens the door to international expansion from Foodics, as well as enables it to establish a firm foothold in Jordan, Kuwait, Oman, and Egypt.
NAME: Saeed Al Ghamdi
DESIGNATION: Managing Director and Group CEO
COMPANY: Saudi National Bank (SNB)
INDUSTRY: Banking
Embarking upon his career at the Ministry of Defence and Aviation as a computer engineer, Al Ghamdi later moved into the banking industry at Al Rajhi Bank in 1991 in various roles, including as the chief information officer to the vice president. Prior to his current role at SNB, a bank that resulted from the merger between the National Commercial Bank (NCB) and the Samba Financial Group, Al Ghamdi held the role of the NCB chairman, backed by over three decades of experience in leading positions in the Saudi financial and banking sector.
Here, he steered the bank’s digital transformation and optimised its operational efficiency to make it a leading financial institution in KSA. He has also held the role of the adviser to the governor of the Saudi Arabian Monetary Authority (SAMA) and was an advisor to the chairman of the board of directors of the NCB. He serves on the board of the Real Estate General Authority and Misk Foundation and is also a member of the consultative board of the College of Industrial Management at King Fahd University of Petroleum and Minerals.
About SNB
Leveraging its position as the largest institutional and specialised financier in the Kingdom to support the Kingdom’s landmark deals and mega projects, SNB owns both NCB Capital and Samba Capital & Investment Management which collectively form the biggest asset manager, brokerage and investment bank in KSA and align with Saudi Arabia’s Vision 2030 by transforming the local banking sector. With a robust international presence in the Middle East, Turkey, and South Asia, SNB is a committed supporter of Saudisation and prioritises the importance of empowering women.
Empowering entrepreneurs in KSA
In January 2023, Techstars, one of the largest pre-seed investors in the world, announced a new partnership to continue The Riyadh Techstars Accelerator in collaboration with SNB, the Ministry of Communications and Information Technology of the Kingdom of Saudi Arabia (MCIT), and RAED Ventures. The Riyadh Techstars Accelerator is a 13-week programme that will take place from June through September 2023.
Each company admitted into the programme will benefit from Techstars proven model that provides funding and fundraising opportunities, workshops and curated resources, as well as mentors and access to an unrivalled network of partners, investors, and alumni. Aligned with Vision 2030, SNB ambitions to empower young entrepreneurs to help them contribute to the nation’s economy and has backed several business accelerators to support innovation and create job opportunities for Saudi nationals across KSA.
NAME: Amin Nasser
DESIGNATION: President and CEO
COMPANY: Saudi Aramco
INDUSTRY: Energy
A world leader in integrated energy and chemicals, in 1982, Nasser joined Saudi Aramco after he earned a bachelor’s degree in petroleum engineering from King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran, KSA.
He held several assignments from November 1982 to February 1991 with the Drilling and Reservoir Management Department and the Production Engineering Department. Subsequently, from March 1991 to May 1997, he was responsible for multiple supervisory positions in the Engineering and Producing departments. In 1999, he completed the Saudi Aramco Management Development Seminar in Washington, DC and later, completed the Saudi Aramco Global Business Program in 2000.
Leadership positions
Active in several organisations devoted to education, R&D, entrepreneurship and technology development, Nasser is also a member of Saudi Aramco’s Board of Directors. His career span in the company spans across four decades, during which he has held several key leadership positions. This includes his role as senior vice president of Upstream during which he steered Saudi Aramco’s largest capital investment programme in its integrated oil and gas portfolio.
The company under Nasser’s leadership, is now building on its upstream leadership position with key investments and joint-venture partnerships in the kingdom by bolstering its presence in the downstream and chemicals segments of the petroleum value chain. He is also heading Saudi Aramco’s ambitions to create cleaner energy and products through investments in promising technologies, such as renewable energy applications, next-generation fuel-engine interfaces, crude oil-to-chemicals processes and entrepreneurial startups aimed at cleaner energy solutions.
He is also leading industry-wide efforts to minimise greenhouse gas emissions, such as the Oil and Gas Climate Initiative (OGCI), a CEO-led initiative committed to collective action on climate change and action towards a net zero emissions future.
Championing for the future of Saudi youth
Nasser champions the development of Saudi youth and is an active supporter of the company’s Young Leader’s Advisory Board (YLAB), a programme which connects Saudi Aramco leadership with its young professionals. He is also a member of the International Advisory Board of the King Fahd University of Petroleum and Minerals; the World Economic Forum’s International Business Council (IBC), the Board of Trustees of the King Abdullah University of Science and Technology; the JP Morgan International Council, and the Massachusetts Institute of Technology (MIT) Presidential CEO Advisory Board.
NAME: Abdullah Al Othman
DESIGNATION: Chairman
COMPANY: Geidea
INDUSTRY: Technology
The visionary behind Geidea, a leading and fully licensed payment service provider offering digital payment solutions, Al-Othman is highly committed to achieving the company’s vision of providing accessible, affordable, and customer-centric payment solutions for everyone.
As one of KSA’s prominent and promising young business leaders, his career trajectory was initiated in 2008 in the world of real estate. Driven by a long-running passion for all things digital, Al-Othman’s initial success in the Kingdom’s real estate sector enabled him to invest in a new fintech venture, Geidea, in 2011.
Helping achieve Vision 2030
Initially launched with the goal of increasing the efficiency and availability of digital payment channels in the Saudi market, Geidea first started out by providing software, payment terminals, and ATMs to banks in KSA. Eventually, Geidea received various government licenses and approvals in 2013, facilitating a quick expansion.
And by 2016, Geidea firmly cemented its position as one of the largest service suppliers in KSA and the wider Middle East, capturing around 75 percent of the sector’s market share, which amounted to more than 700,000 terminals and serving over 150,000 merchants.
Since then, the company has focused on offering small merchants with a complete suite of payment, e-commerce, and business management tools aimed at growing and scaling their businesses. Geidea remains committed toward developing KSA’s expanding and vital SME sector, and in turn, is helping the country achieve the targets set forth in Saudi Vision 2030.
Steered by a wealth of experience
Also the founder of AO Holdings, a family investment house founded in 2019, Al-Othman is also the co-founder of Lemar United Real Estate, an international real estate and development company focused on the commercial sector. To date, Lemar has engineered an enduring number of high-profile real estate projects across Riyadh, a collection of distinguished commercial, hospitality, and retail spaces.
Unveiling a collection of curated amenities, Lemar’s debut project will be located at the centre of Riyadh and is a community that promises to be a one-of-a-kind landmark that will provide entertainment, art, culture, and business for all local and international travellers.
In addition to his business ventures, he is a member of the Business Entrepreneurs in the Chamber of Commerce, an institution designed to build commercial solidarity among businesses and protect their interests. Al-Othman is considered a leading pioneer in the world of fintech.
NAME: Ajlan Bin Abdulaziz Alajlan
DESIGNATION: Chairman
COMPANY: Ajlan & Bros
INDUSTRY: Diversified
Considered an international pioneer in the manufacturing of traditional men’s clothes, as well as textiles and readymade clothes in KSA and the Arab Gulf countries, Alajlan has steered the Group on an upward trajectory of growth and expansion. Established originally as a textile business in 1979, a segment where it remains a key player in the Middle East region, Ajlan & Bros is also considered to be one of the biggest investment and commercial groups in the Kingdom.
With its main office located in Riyadh, today, it employs over 10,000 people in 10 countries across 70 companies, and is backed by a vision to be a leading global investment conglomerate that enriches the lives of people, prosperity of the Kingdom, and Vision 2030.
Experience across multiple leadership roles
With 40 years of work spanning across the commercial, industrial and investment fields, Ajlan also holds several positions/memberships including the chairman of the Board of Directors of the Federation of GCC Chambers; the chairman of the Federation of Saudi Chambers; and the chairman of the Riyadh Chamber of Commerce and Industry.
He is also a member of the Council of Riyadh Region; a member of the Board of Directors of King Abdulaziz City for Science and Technology; a member of the Board of Directors of the Saudi Export Development Authority, as well as is a member of the Board of Directors of the Saudi American Business Council.
Other key leadership roles Alajlan holds include the chairman of the Economy and Development Committee in the Council of Riyadh Region; the chairman of Dispute Resolution Commission, that arise between Chambers in the Council of Saudi Chambers, in addition to the chairman of the Development Initiatives Committee at the Council of Saudi Chambers.
A diversified portfolio
Established to invest in a diversified portfolio of projects across Saudi Arabia’s key economic growth sectors and aligned with Vision 2030, Ajlan & Bros Holding Group has embarked on significant diversification both regionally and globally as reflected in the company’s investments in real estate in Saudi Arabia, Europe, Asia, the US, and China.
One of the largest real estate owners in Saudi Arabia, Ajlan & Bros has launched several commercial, housing, and industrial projects throughout different cities of the Kingdom. Established to invest in a diversified portfolio of projects across Saudi Arabia’s key economic growth sectors.
NAME: David Grover
DESIGNATION: Group CEO
COMPANY: ROSHN Group
INDUSTRY: Real Estate
In his current role at ROSHN Group, a mixed-use real estate developer Giga Project owned by the Saudi Public Investments Fund (PIF), Grover is responsible for overseeing all the operations of ROSHN Group across KSA. Grover has worked to position the organisation as the most trusted real estate developer in Saudi Arabia, creating the best-in class, aspirational real estate assets across the Kingdom.
Prior to joining ROSHN, Grover served as the group board director at Mace Group in the UK. With a turnover of more than $2.5 billion, the firm employed 6,500 people and operated through five global hubs, across 65 countries.
Grover also held the position of CEO of Mace Developments. Joining the UK firm in 1992, he worked across most key aspects of the business, from consultancy to construction and development and played a key role in the successful growth of the company.
Grover’s major achievements included setting up and driving the growth of the company’s development business and delivering multiple infrastructure and mixed-use projects, significantly growing the firm’s portfolio as the COO and later the CEO, including a robust pipeline of opportunities through the Group, including a hotel, an office project, student residential projects, and London residential schemes.
ROSHN’s latest developments
Backed by the Kingdom’s Public Investment Fund, ROSHN Group is a giga project mandated to develop the Saudi real estate sector. ROSHN aims to humanise cities, enable, and provide a human-centric real estate approach in support of Vision 2030 goals to meet the demands of a vibrant and evolving nation.
The Group is developing diverse, inclusive, and sustainable residential real estate and communities for 2.5 million residents including schools for 500,000 students, 850 mosques, over 300 million GFA of net lettable area that will house an array of retail, commercial, healthcare, power generation, civil services, hotels and office spaces.
Following the success of SEDRA, ROSHN’s flagship residential community in Riyadh, the Group has gone on to launch 3 other residential communities across the Kingdom offering more than 40,000 units with rich array of amenities.
Recently acquiring Riyadh Front as part of its journey to diversify its portfolio and engage in business to business market, signing worth of 8 billion SAR contracts with sub developers, ROSHN strives to form strategic partnerships that ensure its customers have access to the best products and services in the market, while boosting local economies and the national real estate sector by providing investment opportunities, catalysing supply chains, and creating jobs.
NAME: Jerry Inzerillo
DESIGNATION: Group CEO
COMPANY: Diriyah Gate Development Authority (DGDA)
INDUSTRY: Hospitality
Gerard ‘Jerry’ Inzerillo is a globally celebrated Forbes-cover visionary in the hospitality and tourism industry, with a deep aptitude for positioning strategies and iconic developments. Over the course of his five-decade career in the industry, he has been the creative and logistical mind behind some of the world’s most innovative luxury brand activations and spectacular development launches.
In recognition of his leadership and empathetic outreach to the tourism community during the Covid-19 pandemic, he was voted ‘Corporate Hotelier of the World’ by Hotels magazine, considered the most prestigious recognition in Global Hospitality as well as the ‘Tourism for Peace Award’ by the World Association of Non-Governmental Organisations (WANGO), honouring Inzerillo’s unique contributions to world peace by bringing people together through travel and tourism.
Key projects
In June 2018, Inzerillo was appointed by HRH The Crown Prince Mohammed Bin Salman of KSA to be the founding CEO of the newly created Diriyah Gate Development Authority, (DGDA), a $50 billion giga-project aimed at restoring and celebrating the ancestral home of the original Saudi state. In this role, he is responsible for developing and implementing master plans to turn 14 km2 with a supervisory area of 194 km2 into one of the world’s greatest gathering places and the centre of culture and heritage in the Middle East.
At-Turaif was inaugurated by The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud in November 2019, followed by hosting the G20 in November 2020. When complete, the development will add $7.1 billion to KSA’s GDP, attract 27m visitors and employ more than 55,000 people. Inzerillo also serves as vice chairman of the Forbes Travel Guide. As CEO of Forbes Travel Guide from 2014 to 2018, Inzerillo successfully spearheaded the globalisation of the North American company’s international footprint to more than 100 countries worldwide.
From 1991 to 2011, Inzerillo was president of Kerzner Entertainment Group, where he raised the profile and positioning of its properties in South Africa, the Bahamas, Dubai, Morocco, Mauritius, Mexico, the Maldives, and conceptualised and positioned the start-up of its One&Only and Atlantis brands.
He oversaw the now-legendary launches of The Lost City at Sun City in South Africa, Atlantis in the Bahamas and Atlantis, Dubai. From 1991 to 1996, Inzerillo served as COO of Sun City, the unique South African resort complex built by Sol Kerzner
NAME: John Pagano
DESIGNATION: CEO
COMPANY: Red Sea Global (RSG)
INDUSTRY: Hospitality
In his current role at Red Sea Global (RSG), a vertically integrated real estate company with regenerative development projects around KSA’s Red Sea coast, including The Red Sea and AMAALA, both located on the west coast of KSA, Pagano is backed by over three decades of international commercial property industry experience from North America, Europe, and the Caribbean.
With experience encompassing all aspects of the real estate value chain, this includes project structuring, financing, construction and asset management, master planning, and more. To create a series of regenerative luxury tourism destinations in KSA, he is spearheading the development of Red Sea Global’s projects from the ground up.
Spearheading key projects in the Kingdom
Since January 2018, Pagano has been at the helm of the Red Sea Development Co. (TRSDC), predominantly an island development and one of three mega projects aimed at diversifying KSA’s economy in line with Vision 2030.
Also, the CEO of KSA’s ultra-luxury destination project Amaala, he is steering the phase one development of the Red Sea Project, expected to complete in 2024. The Red Sea Project spans an area of approximately 20,000 sq km and includes six inland locations and 22 islands. Once complete, the entire Red Sea Project will include around 50 hotels and 1,300 residential properties across 22 islands. Primarily a coastal development, phase one of Amaala includes an international airport, the delivery of 16 hotels, as well as mirrored orbs that will form the Sheybarah Island hotel.
In addition to The Red Sea Project and Amaala, RSG is working on over a dozen projects in KSA and plans to develop projects overseas. RSG’s innovative approach toward responsible development is reflected in their experimental technologies and pilot programmes to help solve key global challenges. This includes the implementation of green concrete to limit emissions, destination-wide clean mobility strategies, and new farming approaches to leverage sustainable food production.
A wealth of experience
Prior to his role at RSG, Pagano helmed his own company, Old Fort Capital Investments, which focused on large scale real estate developments, offering strategic advice and services to developers, investors, and landowners. And prior to this, he held several leading executive positions for over two decades at London’s Canary Wharf development.
He also held the role of president of Baha Mar Development Company Ltd. (BDMC), $3.6 billion development that included four new hotels, a convention centre, and a Jack Nicklaus Signature championship golf course, based in Nassau, the Bahamas for four years.
NAME: Mohammed Bin Abdulaziz Alajlan
DESIGNATION: Deputy Chairman
COMPANY: Ajlan & Bros
INDUSTRY: Diversified
Established in 1979, Ajlan & Bros Group has expanded to become one of the largest private sector conglomerates in the Middle East region, employing over 15,000 people in more than 25 countries and spanning across 75 companies.
With a diversified portfolio in line with Vision 2030, Ajlan & Bros Holding Group has embarked on significant diversification, both regionally and globally as reflected in the company’s investments in real estate in Saudi Arabia, Europe, Asia, the US, as well as in China. One of the largest real estate owners in Saudi Arabia, Ajlan & Bros has launched several commercial, housing, and industrial projects throughout different cities of the Kingdom.
Regional leader
Today, the Group boasts assets valued at over $10 billion in addition to annual revenues of more than $2 billion. In recent years the Group has diversified into sectors which are aligned to and in support of Vision 2030. This includes water, power, environment, oil and gas, healthcare, food security, facility management, tourism, logistics, blockchain, industrial manufacturing, real estate, textiles, technology, mining and minerals, as well as FMCG, events and entertainment, gaming, financial services in addition to Fintech.
In addition to his role as deputy chairman of Ajlan & Bros Group, Alajlan also holds several positions and memberships including: the deputy chairman of Ajlan & Bros; the chairman of the Saudi-Chinese Business Council; the deputy chairman for more than 75 companies around the world. He is also a former board member of the Young Arab Leaders Organisation.
Alajlan was also awarded various awards and honours by the Chinese government, some of which include the Holder of the Honorary Citizen Award and City Key Holder Merit for Xuzhou City, awarded by People’s Government of Xuzhou District, in the People’s Republic of China, for his contribution towards both economic and social development.
He is also a recipient of the Honorary Citizen Award for Zaozhuang City, Shandong District, awarded by the People’s Government of Shandong District. Additionally, he also holds an Honorary Work Merit & Medal and a certificate from Siang City government, Giangsu Region, for his highly distinguished contributions to the economic structure and commercial projects development.
Alajlan is also the – Friendship Ambassador for Shandong Region, an award given for persons who have immense contributions in both the investment and economic and social development in the region.
NAME: Adam Jones
DESIGNATION: Senior Vice President, Regional General Manager, MENA Central
COMPANY: Mastercard
INDUSTRY: Technology
Adam Jones heads Mastercard’s operations across MENA Central, a cluster that includes two of the region’s largest markets, Egypt and KSA, and Iraq, Lebanon, Bahrain, and Jordan. Under his leadership, Mastercard helps to accelerate digital transformation in KSA in support of Vision 2030. The company is driving innovation and is committed to building a secure digital economy that is inclusive for all.
Partnerships fuelling growth
Mastercard firmly believes that harnessing the power of partnerships is the only way to achieve lasting positive change. Therefore, it is building synergies with champion partners to fuel the Kingdom’s digital ecosystem.
In 2022, the technology company announced a strategic partnership with HyperPay, the fastest growing e-commerce payments services provider in MENA, to drive the adoption of digital payment solutions across the region. Leveraging digital innovation to enhance KSA’s booming gaming and esports infrastructure, Jones and his team initiated a three-year strategic partnership with the Saudi Esports Federation (SEF). As part of the collaboration, Mastercard became the official sponsor of Gamers8, the biggest gaming and esports festival worldwide.
Supporting SMEs
Mastercard has pledged $250 million and committed to connect 50 million micro, small, and medium size businesses globally to the digital economy by 2025 using its technology, network, expertise, and resources in support of the company’s goal of building a more sustainable and inclusive digital economy.
In KSA, the company has launched several initiatives and technologies to empower SMEs locally, including Mastercard’s Tap on Phone technology; an innovative, intuitive, and cost-effective app-based solution that allows small businesses to quickly embrace electronic acceptance through their smart mobile or tablet device. With smart phone penetration of more than 70 percent in the Kingdom, Tap-on-Phone has the potential to reach over 300,000 small and medium enterprises (SMEs) and merchants.
Building a more inclusive world
As part of its ongoing commitment to advance diversity and gender balance, Mastercard is empowering women to play a key role in the technology industry and increase their contribution to the country’s GDP. Recently, the company partnered with the King Abdullah Financial District Development and Management Company (KAFD DMC) to launch its Girls4Tech program to equip girls across KSA with futureproof core technology skills as it encourages STEM education for the next generation.
NAME: Meshaal Bin Omairh
DESIGNATION: Group CEO
COMPANY: Abdullah Al Othaim Investment
INDUSTRY: Diversified
A highly skilled and experienced group CEO with expertise in entrepreneurship and leadership across various fields, Bin Omairh has repeatedly demonstrated his expertise throughout his 26 years of success in a career spanning the financial, investment, commercial, technological, real estate, and entertainment industries.
Bin Omairh has served as GCEO of Abdullah Al-Othaim Investment since June 2021, following his appointment by the company’s chairman, Abdullah bin Saleh Al-Othaim. He possesses a deep understanding of leading major and specialised companies while his strategic thinking and organisational development skills enable the business and economic sectors to successfully move forward in KSA.
Steered by a visionary leadership
Abdullah Al-Othaim Investment Company’s remarkable progress can be attributed to the leadership of Abdullah bin Saleh Al-Othaim as well as to Bin Omairh. Under Bin Omairh’s leadership, the company has achieved significant success throughout the Kingdom. His proven expertise in entrepreneurship and leadership across various industries drives progress and growth while his strategic thinking and organisational development skills have contributed to the success of the companies he has led.
Bin Omairh’s ability to attract global and local brands and expand businesses highlights his valuable contributions to the field, including its recent project listing, Konoz ranked as one of the top 15 projects in February 2023 in the Middle East by Construction Week magazine.
On an upward trajectory
Steered by Bin Omairh’s experience, the Abdullah Al-Othaim Investment Company recently announced plans to develop 20 new projects to increase the number of Al-Othaim malls to 30 by 2030. The Abdullah Al-Othaim Investment Company has also launched entertainment and tourism investment projects in Hail and Al Khobar.
The company has established effective and successful partnerships that serve the community’s interest, including a memorandum of understanding between itself and the National Housing Company signed under the patronage of Prince Faisal bin Bandar, the governor of Riyadh, to enhance future cooperation in the real estate sector and commercial centres.
The company has also signed a memorandum of cooperation with the Quality-of-Life Programme to utilise Al-Othaim malls and other company facilities to increase social interaction and improve quality of life. Bin Omairh is also helming an expansion strategy to attract the best global and local brands, as evidenced by the company undertaking agreements with STENDERS; the famous American restaurant chain Five Guys; and is also collaborating with ESpot Paris, an entertainment and video game industry leader.
NAME: Fahad Alanazi
DESIGNATION: General Manager
COMPANY: IBM Saudi Arabia
INDUSTRY: Technology
An experienced business and technical leader, Alanazi is steered by a passion to simplify lives by adopting the latest technological innovations, digital transformation, and entrepreneurship. In his current role at IBM Saudi since March 2021, he is well experienced across multinational, startups, and entrepreneurship.
Previously, Alanazi held the role of general manager at Amazon Web Services (AWS) preceding his role as the director, MENA AWS PS in Bahrain. At Microsoft KSA, he held the role VP, Enterprise, and Partner Group and prior to that, he held the role of the CEO at Appspro, Saudi Arabia, GCC and Jordan, which provides its clients with a value-added package across the domains of professional services and projects implementation.
He is also well-experienced in strategic business planning, sales management, delivery management, channel and indirect sales management, and organisational transformation. Backed by a proven track record in building and managing ICT business with an entrepreneurship mindset, Alanazi is well versed at setting company sales and marketing strategies, building high performing teams, and driving an inclusive and diverse work culture. He aims to build robust relationships and networks at the C-suite level within the region, steered by strong account management and customer relationship management skills.
Technology and Vision 2030
With technology being a core component of Vision 2030, IBM is harnessing its AI solutions, its hybrid cloud and its ecosystem partners and services to enrich their client’s digital transformation journeys. A new agreement between IBM and Saudi Arabia’s IT authority is set to upskill 100,000 young Saudis in the digital sector which will further raise KSA’s position as a technology hub in the MENA region.
According to the SPA, the areas covered under training will include AI and machine learning, cybersecurity and joint research, innovation accelerators, and more, and will enable 100 workshops with government agencies on design thinking, and train 600 public sector employees within five years.
Security services
A recent IBM study which examined the financial impact of data breaches on organisations in Saudi Arabia, reported that incidents cost the companies studied an average of $6.53 million per breach, higher than the global average of $3.86 million per breach. To help provide managed security services to private and government sector customers in KSA, IBM launched its first-ever Security Operations Centre. Through the centre, IBM aims to offer clients in KSA the option of managing their security operations around-the-clock, via IBM staff and local infrastructure.
NAME: Salman Faqeeh
DESIGNATION: Managing Director
COMPANY: Cisco Saudi Arabia
INDUSTRY: Technology
After obtaining his bachelor’s degree in management information systems in 2002 from King Fahd University of Petroleum and Minerals in KSA, Faqeeh embarked upon his career as an account manager at Microsoft for the company’s communications sector.
In August 2006, he joined Cisco Saudi Arabia and over the years, has held multiple senior positions, including as the Cisco operations manager, leading and managing the public sector in the Kingdom. Over his long tenure at Cisco Saudi Arabia, he has worked with important clients and bolstered the company’s ties with key sectors including energy, healthcare, and defence. In October 2018, he was appointed to his current role at Cisco Saudi Arabia.
About Cisco Saudi Arabia
In its 26 years presence in KSA, Cisco has been a key contributor toward the kingdom’s innovation journey through its multiple initiatives, including the Country Digital Acceleration (CDA) programme. This programme contributes to the digital transformation initiatives in national priority sectors across energy, healthcare, education, as well as smart and sustainable cities.
Through CDA, Cisco has helped digitise university campuses with the latest networking solutions in addition to having helped local healthcare providers to create hybrid learning environments and implement teleconsultation services for patients in remote areas. And since the year 2000, the Cisco Networking Academy has steered the development of digital skills, boasting over 225,000 students at more than 100 local academies.
With investments in programmes such as CDA and Cisco Networking Academy, the company is contributing toward the creation of an inclusive digital economy, aligned with Vision 2030. In terms of sustainability, Cisco has been instrumental in building digital and green communities through multiple initiatives, including its ‘Let’s make it green’ campaign.
Security resilience in KSA
With KSA on an increasingly steady upward climb in its digitisation journey, Cisco Saudi Arabia is on-hand to provide its technology and expertise to help make it possible. Recently at LEAP 2023, Cisco released the KSA findings of its latest Security Outcomes Report, focusing on ‘Achieving Security Resilience’.
The report is Cisco’s annual security study, now in its third year, and consists of responses from over 4,700 participants across 26 countries to identify the key factors that boost enterprise security resilience. To help address the cybersecurity challenges faced businesses of all types and sizes, Cisco’s latest range of security innovations and solutions help to address these challenges and to ultimately work with them to boost their security resilience.
NAME: Prince Alwaleed Bin Talal Al Saud
DESIGNATION: Founder and Chairman
COMPANY: Kingdom Holding Company
INDUSTRY: Investment
An international businessman and global investor, Prince Alwaleed has steered Kingdom Holding Company (KHC) to become one of the world’s foremost value investment firms internationally renowned for its interest in both high-performance global brands as well as in strategic regional interests.
Based in Riyadh, KSA, Prince Alwaleed founded KHC in 1980 and by 2007, it was publicly traded and has become known for its diversified portfolio of high-performance regional investments as well as its global powerhouse brands.
A powerhouse of investments
KHC has ownership or interests in luxury hotels and hospitality management, including the George V in Paris and London’s Savoy Hotel, while global hotel brands include Accor, Movenpick, the Fairmont, Raffles, and Swissotel.
Just some of KHC’s international investment segments include in finance with Citigroup and Saudi Fransi Bank; mobility solutions with Careem and Uber; digital technology and social media with JD.com and Twitter; and media and entertainment, which includes Time Warner, NewsCorp, 21st Century Fox, and Euro Disney, as well as e-commerce.
In KSA, KHC has investments in petrochemicals with Tasnee while real estate interests include the Kingdom Tower in Riyadh. KHC is also invested in healthcare with Kingdom Hospital, aviation with NAS Saudi Arabia, as well as in education with Kingdom schools.
Helping to facilitate Vision 2030
Encompassing a vast investment portfolio that facilitates an economic strategy that is a key component of the Saudi Vision 2030, as the demand for online shopping increases, recently, Prince Alwaleed’s investment firm led a $133 million funding round for Nana, a grocery delivery app in KSA.
Considered one of the largest investment rounds for Saudi start-ups, the series C funding was led by KHC and Uni Ventures, as well as with participation from several other investors including Dallah Al Baraka Group, Sultan Holding, Al Jasser Holding, Red Diamond Co. and Al Jammaz Holding, and more, as the demand for online retail is expected to grow in the Middle East.
About Alwaleed Philanthropies
For over three decades, Alwaleed Philanthropies has worked on supporting initiatives in four key areas, namely, empowering women and youth; bringing cultures together; providing vital disaster relief; and lastly, developing communities, especially in the education, health, and infrastructure sectors. Known as ‘philanthropy without boundaries’, Alwaleed Philanthropies has supported and initiated projects in over 164 countries irrespective of race, religion, or gender.
NAME: Turki Bin Abdul Mohsen Al Sheikh
DESIGNATION: Chairman
COMPANY: General Entertainment Authority
INDUSTRY: Government
With experience in reshaping committees and entire organisations through relaunching sports in KSA, Al Sheikh has been instrumental in developing KSA’s sporting sector in line with Vision 2030. He graduated in 2001 from King Fahad Security College with a bachelor’s degree in Security Sciences, followed by key experience across several government sectors, including the Interior Ministry and the office of the defence minister and the Crown Prince.
In 2015, Al-Sheikh was appointed as an adviser to the royal court in 2015 followed by the role as a royal advisor with the rank of minister. A royal decree was issued in September 2017, making him the chairman of the General Sports Authority, now known as The Ministry of Sport which represents Saudi Arabian sports at an international level and manages the Saudi Arabian Olympic Committee as well as all thirty Saudi sports federations.
A power packed agenda
Steered by his visionary leadership and backed by the support of Prince Mohammed bin Salman bin Abdelaziz, Crown Prince and Prime Minister, since his appointment to his current role in 2018, from 2019 until the first quarter of 2023, KSA’s entertainment sector received over 120 million visitors.
Just some of the standouts during this time include the organisation of the largest competition for the Holy Quran and the call to prayer in the world; the launch of a new licensing system in 2019 for 9 entertainment and support activities; the Joy Awards, one of the most important art festivals, was established, as well as organising one of the most important festivals in the world for playing the Oud.
Across the entertainment sector, the largest Mirwas studio which includes 22 studios in one building, was established during this time for cinematography, music recording, and podcasting, and is certified by the Guinness World Records as the best studio in the world. In the sports sector, the Riyadh Season Cup between PSG and Al Hilal Stars took place along with the Maradona Cup between Barcelona and Boca Juniors, among others.
About GEA
Aimed to nurture entertainment in all its forms while maintaining Saudi’s cultural heritage, the GEA was established on 7 May 2016. Its objectives are aligned with Vision 2030, which highlights the entertainment sector as vital for the diversification of KSA’s economy by attracting investment opportunities. GEA aims to promote a self-sustaining entertainment sector that can contribute to GDP growth and contribute to revenue diversification, while attracting foreign direct investments, create jobs for national talents, and supporting local SMEs.
NAME: Ghada Othman Alrumayan
DESIGNATION: Group Chief Marketing and Communications Officer
COMPANY: ROSHN
INDUSTRY: Real Estate
With over 20 years of experience in the business world, Alrumayan spearheads ROSHN’s marketing and communications activities to help implement one of the Kingdom’s most ambitious residential real estate projects. With an extensive background in building strategic relationships with the public and private sectors, while enhancing the impact and reputation of organisations, her over 10 years of experience in the communications arena has made her an expert at building enduring relationships within the public and private sectors and enhancing the impact and reputation of organisations. She occupies her role at a time when the company is implementing one of the largest residential real estate projects in KSA.
A wealth of experience
Backed by diverse experience, Alrumayan joined ROSHN from Riyad Bank, where she held the role of the senior vice president of Public Relations, Communications and Events. Between 2012 and 2013, she was corporate communications manager at Saudi Hollandi Bank, where she was responsible for internal corporate social responsibility. Alrumayan holds an executive certificate in Sustainable Business Planning and Strategy from Harvard University and a bachelor’s degree in Social Service from the College of Social Service, in addition to many other qualifications from local and international educational institutions.
Spearheading ROSHN’s strategies
At ROSHN, Alrumayan has deployed a media strategy that reflects a multi-faceted approach that builds on traditional and alternative media channels to promote and increase interest in ROSHN’s new communities, centred on sustainable, high-quality living. As part of this overall strategy, she has successfully utilised key collaborations and partnerships to exhibit the ROSHN brand and showcase the company’s impactful messages of community living and sustainability. These partnerships have ranged from major international events, such as the first and second Formula 1 Grand Prix races in the kingdom, and local events such as Riyadh Season and the Prince Mohammed bin Salman Cup’s Professional League (SPL).
About ROSHN
A national real estate developer powered by the Public Investment Fund (PIF); ROSHN is committed to providing high-quality communities to the citizens of KSA. Aligned with the Vision 2030 goal of 70 percent home ownership in KSA through an agenda of localisation and job creation, ROSHN aims to contribute to the development of KSA’s real estate sector.
NAME: Nadhmi Al Nasr
DESIGNATION: CEO
COMPANY: NEOM
INDUSTRY: Real Estate
With a proven track record of successfully managing and delivering ambitious industrial projects for KSA, Al Nasr is an experienced engineer and leader who has led a robust career at Saudi Aramco. Previously, he has held multiple senior leadership positions, including as the interim president, while working at the King Abdullah University of Science and Technology. Al Nasr was appointed in July 2018 to helm NEOM, widely considered to be the most ambitious project on earth.
Helming key projects in KSA
After graduating from King Fahd University of Petroleum and Minerals, Al-Nasr started his career at Saudi Aramco in 1978 where prior to steering the execution of the Kingdom’s Master Gas System, the largest industrial project of its kind at the time. he had spent his first three years in engineering services. This was followed by the Refinery Programme, Southwest Refinery and later Ras Tanura Refinery until he was appointed as the project manager overseeing the Ghawar oil field capital programmes. This included the Ghawar oil field crude expansion program in 1991 which was completed in 1993.
His achievements did not go unnoticed and Al Nasr was then promoted in the role of manager of Saudi Aramco’s oil and gas pipeline projects. He took over the Shaybah Development Programme in 1995 as the manager and by 1998, managed to complete it one year ahead of schedule and under budget. The Shaybah mega-project is widely regarded as one of Saudi Aramco’s most ambitious and successful ventures. In July 2018, he was appointed by Prince Mohammed bin Salman bin Abdulaziz, the Chairman of NEOM’s Founding Board to head NEOM.
The most ambitious project on earth: NEOM
A portmanteau of Greek and Arabic words, NEOM is Saudi Arabia’s $500 billion futuristic giga-project backed by the Public Investment Fund (PIF) being developed along Saudi Arabia’s Red Sea coast, near Jordan and Egypt. A giga project fully aligned with Saudi’s Vision 2030 plan to diversify the economy and move away from dependence on hydrocarbons, NEOM boasts key super projects underway, including The Line; a 170 km long city powered by clean energy, without streets or cars and the ability to host two million people when completed.
Also, Oxagon which is set to be a floating city and an industrial complex as an innovative model for future manufacturing centres with low environmental impact. And for mountain tourism, Trojena, which will consist of facilities including a ski village, ultra-luxury resorts, an interactive nature reserve, and more.
NAME: Waleed Al Mogbel
DESIGNATION: Managing Director, CEO and Board Member
COMPANY: Al Rajhi Bank
INDUSTRY: Banking
With over 24 years of experience working in the financial and banking sector across auditing, tax, financial and management consultation, throughout his career with Al Rajhi Bank, Al Mogbel has been helming multiple executive positions, including as the chief financial officer in 2010, and the chief operation and information technology officer in 2014.
In 2019, he was appointed as the deputy CEO of the bank, and has actively participated in the accomplishment of many transformational, strategic projects for Al Rajhi bank throughout his career. Al Mogbel is also a board member of Al Rajhi Takaful and the chairman of Emkan Finance and Neoleap.
About Rajhi Bank
Founded in 1957, Al Rajhi Bank’s first branch opened in Aldirah, KSA, and since then, has expanded to now include 4,824 ATMs, 515 branches, and over 13 million customer accounts. With over 60 years of experience in banking and trading activities, the various individual establishments under the Al Rajhi name were merged into the umbrella ‘Al Rajhi Trading and Exchange Corporation’ in 1978.
A decade later, it was in 1988 that the bank was established as a Saudi joint stock company under the name of Al Rajhi Banking and Investment Corporation which several years later was renamed as Al Rajhi Bank.
With an established base in Riyadh, Al Rajhi Bank is deeply rooted in Islamic banking principles and is instrumental in bridging the gap between modern financial demands and Sharia intrinsic values, whilst spearheading numerous industry standards and development. With an established base in Riyadh, Al Rajhi Bank has one of the largest customer bases of any bank in the kingdom, in addition to 205 remittance centres across the country. Fuelled by a jump in lower provisions for expected credit losses and financing and investment, in 2022, Al Rajhi Bank reported an over 16 percent rise in net profit to $4.6 billion.
Aligned with Vision 2030 goals
The Saudi Real Estate Refinance Company (SRC), which is wholly owned by the Public Investment Fund (PIF), signed a portfolio purchase agreement with Al Rajhi Bank to refinance more than $1.3 billion real estate financing portfolio. The deal signed by Al Rajhi Bank and SRC is the largest of its kind signed in the Saudi banking industry, and the agreement reflects Al Rajhi Bank’s efforts to help expand Saudi citizens access to homeownership as well as accelerate the growth of affordable home financing, an intrinsic aspect of Vision 2030.
NAME: Bader Al Salloom
DESIGNATION: CEO
COMPANY: Banque Saudi Fransi (BSF)
INDUSTRY: Banking
In his current role at Banque Saudi Fransi (BSF) since September 2022, previously, Al Salloom served as the acting CEO and the head of the Wholesale Banking Group at the bank. He has a wealth of experience in the banking industry across banking sectors that includes portfolio management, trade finance, treasury, commercial banking, credit analysis, credit risk, Islamic finance, and more.
He has held multiple key leadership positions in various banks, including his role at The Saudi Investment Bank as the deputy GM of corporate banking from August 2019 to September 2022, preceded by 15 years of experience at SABB as the deputy GM of Commercial Banking.
About Banque Saudi Fransi (BSF)
Banque Saudi Fransi (BSF) is a Saudi Arabian Joint Stock Company established by Royal Decree No. M/23 dated June 1977. With an objective to provide various types of commercial banking services to both domestic and international customers through its recognised banking expertise, quality of service, and innovative and customised financial solutions, BSF’s head office is located in Riyadh, with three regional offices across KSA, namely in Jeddah, Riyadh, and Khobar.
With 84 full-fledged branches, a 563 Total ATM network, 45031 Total POS, and 3081 employees spread across personal, business, Islamic banking, and finance, over the years, BSF has demonstrated a sustainable pattern of growth that has established its current financial strength and leadership in the Saudi market.
A modern and dynamic institution fully geared to meet the challenges of the future, in the area of Islamic banking services, BSF has made strides in the development of services and products including providing alternative products available to companies and individuals including investment and global markets services as well as enhancements of their branches to comply with the provisions of Islamic Sharia. In addition to leasing and participation in Tawarruq for corporate clients, BSF plays a leading role in the provision of these services.
A new ESG Framework
In February 2023, BSF launched a new ESG Framework that is aligned with supporting the advancement of a sustainable financial sector in KSA and places ESG practises at the core of its development ambitions. With sustainability serving as a key component of Vision 2030 initiative, the new framework identifies BSF’s value chain across five pillars that are impacting the people, customers, society, shareholders, the environment, and other stakeholders. BSF is committed to advancing the development and implementation of various ESG-related ambitions, goals, and measures and are committed to maintaining a comprehensive ESG Strategy that supports Vision 2030.
NAME: Mohammad Albuty
DESIGNATION: CEO
COMPANY: National Housing Company
INDUSTRY: Real Estate
With over 16 years of diverse experience across multiple sectors, including IT, business, training, and procurement, Albuty has been integral in his current role at the National Housing Company (NHC) since November 2016.
He helps to steer NHC’s ambitions to achieve one of the goals of Vision 2030, namely, to increase the real estate supply in the country to help the Kingdom achieve the objectives of the Housing Program. Prior to his current role, for three years, he was appointed as the director of IT at the Royal Embassy of Saudi Arabia in Washington DC where he was responsible for all IT projects held in the Armed Forces office, as well as helmed the implementation and management of technology solutions, including infrastructure, networking, security and software, to support business operations and organisational strategy.
Then from August 2014 to March 2016, Albuty moved into the role of vice president of Business Development at the Engineering & Technology Services Co. (Taqnia Services) where he was responsible for strategic planning, global partnership strategy; and the commercialisation of products resulting from national R&D projects.
About NHC
Established in 2016 under Royal Decree, NHC came under state ownership in May 2020 and operates with three subsidiaries: the National Housing Services Company; the National Asset Management Company; and the National Financing Services Company, which facilitates access to sustainable financing solutions for homebuyers in the country.
In partnership with experienced and efficient real estate developers, NHC ambitions to provide quality projects across urban communities with an array of housing solutions and modern designs at reasonable prices that align with the aspirations of the future generations.
New megaprojects projects that align with Vision 2030
In February 2023, NHC launched the new Al-Fursan project’s phase 1 in addition to the second phase Khuzam suburb prior to that in February. Reportedly the largest residential suburb in KSA, the Al-Fursan project in Riyadh will include more than 50,000 residential units for more than 250,000 people across an area of over 35 million square metres.
The second phase of Khuzam Suburb, located north of Riyadh, will include 30,000 residential units for 150,000 people. The implementation of both megaprojects will help enable Riyadh attain its target to increase real estate projects and both projects align with Vision 2030’s Housing Programme goals to increase the rate of home ownership by Saudi families to 70 percent.
NAME: Osama Ben Saleh
DESIGNATION: CEO, Head of Banking Committee
COMPANY: Alfaris International Group, ICC Saudi Arabia
INDUSTRY: Banking
Osama Ahmed Ben Saleh is an entrepreneur that leads several initiatives and business in Saudi Arabia as well as globally under Alfaris International Group.
He embarked upon his career in the banking sector where he gained valuable experience across a span of almost two decades, then opting to shift his focus on helping his wife to expand their personal businesses since 2014.
Ranging from education to medical services, retail businesses, and most importantly, information technology, Ben Saleh was successful in helping to expand his family business in multiple countries in Africa and Asia.
Banking career highlights
Since 2012, Ben Saleh has held the role of the head of the Banking Committee under the International Chamber of Commerce, where he represents ICC Saudi Arabia in global events and regularly appears on CNBC Arabia addressing the financial sector developments.
Moreover, he is also the deputy head of the digital economy committee as well as is a member of the anti-corruption committee, both under ICC Saudi Arabia. In addition, he is a member of the executive committee of the Saudi Uzbek business council.
Equipped with a bachelor’s degree in computer science from King Saudi University, his career in banking boasts several noteworthy technical business innovations considering he was part of the various teams that witnessed Saudi Arabia’s first internet banking.
Other firsts include the dematerialisation of physical bills of STC and the Saudi electric company, the automation of payments and collection of the corporate world, the birth of SMS one time passwords and its approval by the central bank, as well as the introduction of e-wallets in 2008. Also, in 2021, Alfaris International Group partnered with the Saudi Authority for Industrial Cities and Technology Zones, MODON, and created a company specialised in B2B Marketplaces termed InDeal.sa.
Leading a balanced life
While Ben Saleh’s career span reflects his experience across specialised banking segments, including credit cards, commercial banking, Islamic finance, and credit risk, he is also a proficient business development professional. A martial artist practicing Jeet Kune Do, he enjoys watching multiple sports such as football and MMA, and is not all about work and business, but rather strives to find a balance. This is reflected in the fact that he is a family man that strives to give his family the deserved amount of focus and time.
NAME: Sarah Al Suhaimi
DESIGNATION: Chair MENA
COMPANY: Lazard
INDUSTRY: Finance
A prominent figure in finance in KSA, in addition to her current role at Saudi Tadawul Holding Group (formerly the Saudi Stock Exchange Company) as the chairperson of the Group Board of Directors, Al Suhaimi plays a key role in Lazard’s financial advisory business in the MENA region.
This established a precedent for more women to take on prominent roles in KSA and demonstrates Lazard’s accelerated efforts in the kingdom to align with Vision 2030 to diversify its economy away from oil while investing in new industries. The firm has been licensed to provide financial advisory services since 2010 and serves investment banking clients through its Riyadh office.
With origins dating to 1848, Lazard operates across 26 cities from 41 cities in North, Central and South America, Europe, Asia, and Australia. Providing asset management services to corporations, partnerships, institutions, governments, and individuals, Lazard also advises on strategic matters, mergers and acquisitions, restructuring and capital structure, capital raising and corporate finance.
Heavyweight experience
Prior to her role, Al Suhaimi served as the CEO of NCB Capital Bank from 2014 to 2021 and was a member of the Board of Directors. Under her leadership, the bank executed multiple large investment banking mandates earning league table status in DCM and M&A. From 2013 to 2015, she held the role of the vice-chairperson of the Advisory Committee of the Capital Market Authority (CMA) Board of Directors. Prior to these roles, she led the asset and wealth management division at Jadwa Investment Company, where she was also the chief investment officer and a member of the Jadwa Management Committee.
She is also a board member of Saudi Airlines; a trustee of the International Financial Reporting Standards Foundation and a We-Fi Leadership Champion. In her current role at Saudi Tadawul Holding Group, Al Suhaimi spearheads the Group’s efforts to integrate the Saudi capital market with global peers by way of aligning the platforms operations and governing regulations.
About Saudi Tadawul Group
The Saudi Tadawul Group was established in March 2021, following the transformation of the Saudi Stock Exchange (Tadawul) into a holding group structure. Al Suhaimi is the first Saudi woman to chair the Saudi Arabian stock exchange where she spearheads the Group’s efforts to integrate the Saudi capital market with global peers by aligning the platforms operations and governing regulations. And as part of Vision 2030, it seeks to support the successful delivery of KSA’s Financial Sector Development Program (FSDP) objectives to boost economic growth and diversify the economy.
NAME: Lubna Olayan
DESIGNATION: Chairperson
COMPANY: Saudi British Bank (SABB)
INDUSTRY: Banking
As of 1 January 2023, Saudi British Bank (SABB) reappointed finance heavyweight Olayan as the chair of the board of directors for another three-year term. First appointed to the role in 2019, Olayan is considered one of the most influential businesswomen in the region and became the first woman to chair a Saudi-listed entity when she was appointed to the role following the merger between Saudi British Bank (SABB) and Alawwal Bank.
The merger made the bank KSA’s third-largest lender and Olayan became the first woman in her country to run a publicly traded bank, and in 2022, she was appointed to join the World Economic Forum’s Board of Trustees.
Steered by a wealth of experience
Backed by decades of experience across key leadership roles, Olayan had also served as the CEO of Olayan Financing Company (OFC) for over 35 years, one of KSA’s largest conglomerates, until April 2019 when she resigned, but is still remains an active member of the board. Founded by her father in 1947, Olayan Financing Company is a private multinational company engaged in manufacturing, services and investments, and distribution.
In addition to serving as the president of the Suliman S. Olayan Foundation and the Alfanar philanthropy organisation based in the UK, Olayan is also a member of multiple boards of directors, trustees and advisory councils in international and local companies and universities.
Breaking barriers
A former analyst at JP Morgan, Olayan is a vocal advocate for women’s empowerment in the kingdom. In 2021, she was named as the chairperson of the Board and Executive Committee of the Saudi-Swedish Business Council (SSBC). The first of its kind in the history of Saudi foreign business councils, she is the first Saudi woman to hold this position since the issuance of a royal decree over 20 years ago that was created to expedite the establishment of Saudi foreign business councils.
Recognitions
Backed by a reputation as the preeminent trade finance bank in KSA, SABB was recognised by Euromoney as the Market Leader and the Best Trade Finance Service Provider in KSA for 2023. This is the seventh successive year that SABB has been awarded as the market leader within the trade finance space. Aligned to Vision 2030, in 2022, SABB became the first bank in KSA to apply blockchain technology to complete an international trade transaction, thereby increasing trade and liquidity in the market as well as reducing risk and paper in the industry.
NAME: Basmah Abdulaziz Al Mayman
DESIGNATION: Regional Director
COMPANY: United Nations World Tourism Organisation (UNWTO)
INDUSTRY: Tourism
Highly recognised for her dedication to the burgeoning tourism sector, in her current role since 2018, Al Mayman is backed by many firsts across the tourism sector. She is the first woman to lead the Middle East region in the history of this international organisation; is the first woman representing tourism in the Middle East that has garnered a position in the prestigious classification, and she is also the first GCC national to hold a leading position at the UNWTO.
In the meetings of the Arab Ministerial Council for Tourism in the League of Arab States, she is a permanent representative of the UNWTO, and throughout her tenure, UNWTO launched its first regional office for the Middle East in Riyadh, KSA. She holds a bachelor´s degree in English Literature and Linguistics from King Saud University, as well as an MBA from Al Faisal University, in cooperation with the University of Oxford, where she studied entrepreneurship and comparative managerial issues.
Stellar tourism experience
With over 17 years of experience in the Saudi Commission for Tourism and National Heritage (SCTH), previously, Al Mayman was appointed the manager of the International Organisations and Committees Department and the United Nations World Tourism Organisation (UNWTO) focal point.
As one of the pioneers of tourism in KSA, Al-Mayman has also served as a member of the Board of Directors of The UNWTO Sustainable Tourism, Eliminating Poverty Initiative for the Middle East Region and was a founding member of the programme and budget committee of the executive council of the same region. She has also focused on developing and strengthening KSA’s relationships with international organisations, including the UN, UNDP, the World Bank, and UNESCO, in addition to other international organisations across the built heritage, tourism, museums, and antiquities sectors.
UNWTO backs innovation
UNWTO is onboard to support the region’s best digital entrepreneurs and innovators with its recently launched Women in Tech Startup Competition in the Middle East, as announced at Biban 2023, Saudi Arabia’s largest SME conference. Helping further leverage UNWTO’s work towards establishing tourism as a pillar of women’s empowerment, the initiative provides innovators the chance to compete for enhanced capacity building and visibility.
UNWTO’s efforts are ongoing in their support of digitisation and innovation with the global entrepreneurship ecosystem. As tourism can help foster inclusiveness and local community development by leveraging innovation and digital advancements, UNWTO’s IEI department has steered the launch of over 21 start-up competitions and innovation challenges since 2018, covering over 150 countries around the world.
NAME: Mishaal Ashemimry
DESIGNATION: Vice President for Diversity Initiatives, Aerospace Engineer and Founder
COMPANY: International Astronautical Federation (IAF), MISHAAL Aerospace
INDUSTRY: Science
An aerospace engineer, the first Saudi woman to join NASA, and the first female aerospace engineer in the GCC, Ashemimry was born in the US, but her fascination with space was prompted at age six during her early years in KSA while gazing at the stars in the Unayzah desert. Today, she juggles multiple key roles across the space sector, including as an aerospace engineer; aerospace entrepreneur; commercial pilot, speaker, and influencer.
With her title as the first female aerospace engineer in the GCC, Ashemimry has inspired others to join her field as well as other STEM programmes. She leverages the use of social media platforms which has led to her becoming known as a speaker at multiple GCC and global events and her influence has attracted Dubai TV, Macy’s and Pepsico to empower and educate the youth.
She earned a Master of Science Degree in Aerospace Engineering from the Florida Institute of Technology in Melbourne, Florida, and two Bachelor of Science Degrees in Aerospace Engineering and in Applied Mathematics, also from the Florida Institute of Technology. Her academic focus included: experimental and analytical aerodynamics, rocket design and nuclear thermal propulsion.
Prior experience in her field
While based in Miami, Florida, to pursue her ultimate dream of building rockets, she founded MISHAAL Aerospace at age 26 with the objective to design and build rockets to launch small satellites. Previously, she contributed to twenty-two different rocket programmes while she worked for the Raytheon Missile Systems’ Aerodynamics Department.
With a strong focus on computational tool development, Ashemimry’s areas of expertise include aerodynamics, wind tunnel testing, vehicle design, predictive simulation and analysis and rocket stage separation analysis. In September 2022, she was elected as one of the vice presidents of the International Astronautical Federation (IAF), making her the first female Saudi national in this type of a leadership position.
Helping steer Vision 2030
In addition to her current role as the vice president for Diversity Initiatives International Astronautical Federation since September 2022, she was elected to the post based upon her vision for the development of the global space sector, her role in strengthening the Kingdom’s leadership position in the aerospace sector and in her contribution to the development and consolidation of the federation’s directions.
From September 2021, she has held the role of the aerospace consultant at the Saudi Space Commission based in Riyadh where she consulted on developing a national space strategy; created and led specific space programmes and initiatives; and advised leadership on national space strategy direction and execution.
NAME: Ahmed Al Anqari
DESIGNATION: CEO
COMPANY: Salam
INDUSTRY: Telecoms
With over two decades of experience in KSA’s technology and telecommunications sector, Al Anqari’s early years were spent in the power sector where he worked as a network expert with the Saudi Telecom Company, stc; and as a computer engineer for the Saudi Electric Company (SEC). He was appointed as the vice president for Engineering of Integrated Telecom (ITC) and became an intrinsic member of ITC’s leadership team which transformed ITC from a telco startup to become one of the region’s most established networks.
As the company expanded its fast-growing consumer business, in 2020, he was appointed in the role of the chief technology officer of ITC, followed by the rebranding of ITC to Salam. The telco spearheaded the launch of KSA’s newest mobile carrier service, and Al Anqari was appointed as the CEO of Salam in March 2022.
In support of Vision 2030 goals
Underpinned by a corporate theme, ‘where you connect’ and under the visionary of Al Anqari, Salam has grown to become one of the region’s most extensive telecoms and IT infrastructures. Salam is a locally founded Saudi company connecting key KSA cities with its own high-capacity 19,000-km Saudi National Fibre Network (SNFN), as well as to the UAE, Qatar, Kuwait, Bahrain, Jordan, and Iraq via terrestrial gateways.
Salam is connected to the rest of the world via submarine cable landing stations in Jeddah and Al Khobar. Salam recently launched KSA’s newest mobile carrier service, Salam Mobile and is pioneering the first and only 1GBps fibre connection in KSA, which is twice the speed available in the market. All these achievements reflect the telecom’s support of Vision 2030 goals and the Kingdom’s digital transformation journey.
A joint venture for the first phase of the Diriyah project
In February 2023, the Diriyah Company entered a joint venture between Salam and the Telecommunications Towers Company Ltd. (TAWAL) to provide telecommunications services to the first phase of the Diriyah project, including services for areas of Wadi Hanifah and Wadi Safar. The 15-year design, build and operate contract covers fibre optic connectivity for 2,000 plots as well as open-access services for visitors, tenants, and residents of Diriyah. Work began in August 2022 with the construction of temporary towers to enable telecommunications services during the construction phase.
Each tower is shared between all three of KSA’s primary mobile operators, namely, stc, Mobily, and Zain, which one of the project’s most notable sustainability features as it minimises the number of towers required for coverage and their impact on the landscape.
NAME: Princess Lamia Bint Majid Al Saud
DESIGNATION: Secretary General and Member of the Board of Trustees
COMPANY: Alwaleed Philanthropies
INDUSTRY: Philanthropy
One of the most highly regarded trailblazers of the region, Princess Al Saud ceaselessly strives towards the empowerment of women and aspires to globally change the perceptions of Arab women. Appointed to her current position in Alwaleed Philanthropies in April 2016, Princess Al Saud previously held the role of executive manager of Media and Communication at the Foundation.
After observing a gender disparity revealed by a study about female participation in KSA in 2019, she collaborated with Careem to secure one hundred Careem women captains to provide more women employment opportunities.
In 2001, she received a bachelor’s degree from Misr International University, Cairo, Egypt, and then went on to launch her own publishing company, Sada Al Arab in 2003, which published three magazines from Dubai, Cairo, and Beirut. Subsequently, she also went on to publish Children and Blood, her first novel in 2010 which highlighted the brutal subject of honour killings.
An outspoken role model and champion for gender equality, Princess Al Saud is the first Saudi to join the UN Women as a ‘Global Champion’ for gender equality. She also holds several key positions across global organisations including as a member of the Generation Unlimited Champion Committee with UNICEF and Global Champion for gender equality with the UN Women.
Alwaleed Philanthropies
In her role as secretary general, she leads an all-female team that is combating inequalities and providing opportunities for those in need in the Middle East and around the world. Also, through her work with Alwaleed Philanthropies, Princess Al Saud has juggled multiple projects which speak volumes about her unwavering dedication. Founded in the 1980s, Alwaleed Philanthropies include a volunteering programme that is the first in KSA to build structured women and youth scout groups in Saudi universities and aligns with Saudi Vision 2030’s goal of rallying one million individuals to volunteer annually.
In addition to investing in programmes that build cross-cultural understanding, develop communities, empower women and young people and assist those affected by disasters, Alwaleed Philanthropies has partnerships with global organisations in humanitarian issues, healthcare, development and civil society.
Last year, she was appointed as the first regional goodwill ambassador for the Arab States by the United Nations Human Settlements Programme (UN-Habitat). Driven by her efforts to advance sustainable and inclusive development, in her role, she will advocate for sustainable urbanisation which will enable the UN-Habitat to advance sustainable urbanisation as a driver of development and peace as well as address urban challenges in the Arab states.
NAME: Rania Nashar
DESIGNATION: Head of Compliance and Governance Chief
COMPANY: Public Investment Fund (PIF)
INDUSTRY: Investment
Appointed to her current role in June 2021 at the Public Investment Fund (PIF), KSA’s sovereign wealth fund, Nashar is backed by over two decades of professional banking experience. She joined PIF as a senior advisor in areas of business and governance to the governor Yasir Al Rumayyan in February 2021.
The first Saudi woman to lead a major banking group in KSA, prior to her appointment at PIF, she held the role of the Samba Financial Group (SFG) CEO. She forayed into her banking career in 1997 at SFG where she held multiple positions across different divisions of the Group and was instrumental in garnering key developments and changes to SFG’s business sectors.
Multiple leadership roles
Nashar has gained experience throughout her career in various other leadership and advisory positions. During her time as CEO at SFG, she served as a board member of Samba Bank Limited in Pakistan, Samba Global Markets Limited and Institute of International Finance (IIF) in the US, as well as held the vice chair of the Samba Capital Board. She was also appointed as the vice chair of the CMA Advisory Committee in March 2019 by the Board of the Capital Market Authority of Saudi Arabia (CMA).
Other boards Nashar is a member of include the Saudi Telecom Company (STC), the Saudi Tadawul Group, the National Centre for Performance Measurement, the Saudi Space Commission, and the Saudi Polo Federation.
PIF supports Vision 2030 goals
The primary driver of KSA’s economic transformations aligned with its Vision 2030 goals, the kingdom’s $430 billion PIF is one of the largest and most prominent sovereign wealth funds in the world. It was originally established in 1971 to invest in commercial projects and select investments in domestic and international companies and assets.
Positioned to be transformed into the world’s largest sovereign wealth fund, PIF is building a world-class domestic and international investment portfolio. In supporting innovation, diversification, and the non-oil sector development in KSA, PIF is enabling the creation of new sectors and opportunities that will shape the future global economy.
A diverse portfolio of investments
According to the PIF website, as a global impactful investor, the PIF has a world-class investment portfolio with a focus on sustainable investments, both domestically and internationally. Some of its achievements include the creation of 71 companies; 13 strategic sectors; over 500,000 direct and indirect jobs have been created; and as of the end of Q1 2022, PIF boasted an AUM of $620 billion.
NAME: Dr Maha Al Mozaini
DESIGNATION: Senior Scientist and Head of Immunocompromised Host Research
COMPANY: King Faisal Specialist Hospital and Research Centre
INDUSTRY: Healthcare
With a stellar list of achievements to her name, Dr Al Mozaini is a not only a pioneering infectious disease researcher and educator but is also an expert in research and development; an advocate for empowerment in STEM, as well as is a supporter for women living with HIV/AIDS. The founder of KSA’s first HIV/AIDS laboratory, she has worked on several projects linked to HIV and covid at King Faisal Specialist Hospital whereby she developed many medical laboratories in KSA that offer a low-cost, fast-testing system.
She supervises a group of scientists, technicians, and graduate students in this field where she heads a special unit for the research of immunodeficiency diseases. Dr Al-Mozaini was granted the award for ‘best woman in science’ in the MENA region for her ground-breaking achievements and research across the field of immunodeficiency diseases by UNESCO and L’Oréal.
Education and prior experience
In a field that has opened the doors to multiple new discoveries, Dr Al Mozaini earned her doctoral degree from Imperial College School of Medicine in London, UK, under the supervision of a renowned mentor who helped her expand her scientific network in the field as well helped her build her professional and scientific skills. This was followed by a postdoctoral fellowship at the Infectious Disease Division of the Massachusetts General Hospital at Harvard Medical School.
She was supported by an award from the Dubai-Harvard Foundation for Medical Research during her fellowship. And since September 2013 to date, she has supported women who are living with HIV/AIDS. Backed by her substantial contribution to the field of immunocompromised host research, Dr Al Mozaini has established an Immunocompromised Host research (ICH) Division at King Faisal Specialist Hospital and Research Centre (KFSH&RC, funded by King Abdulaziz City for Science and Technology (KASCT).
Steering international collaborations
Currently working on the development of an HIV awareness programme, she is also in collaboration with the Ragon Institute at the Massachusetts General Hospital (MGH) and Harvard University towards further developing international collaborations for HIV-1 and transplant research.
Not only will this strategic alliance initiate immunological and molecular research collaborations through a global perspective but will also provide a unique opportunity to perform parallel investigations on immune dysregulation and immune deficiency in patients from two different continents with different genetic backgrounds. For patients living with immune deficiency in both countries, this kind of cross-cultural contribution to understanding immune dysfunction will improve the quality of life.
NAME: Kaswara Al Khatib
DESIGNATION: Chairman of the Board
COMPANY: Webedia Arabia
INDUSTRY: Media
A serial entrepreneur, founder of multiple media companies, marketer and online media mogul, Al Khatib earned a bachelor’s degree in computer engineering from Jeddah’s King Abdulaziz University, followed by an appointment in Proctor & Gamble’s marketing division. He went on to launch Full Stop Advertising, his own advertising agency in 2002, which transformed from a small independent creative boutique into a full-fledged communications group with a firm foothold across the advertising, digital and social media, and film production industry.
In 2009, Made in Saudi Films, a production and post-production house, was launched in 2009, and one year later, Al-Khatib launched UTURN Entertainment, an online entertainment network that provides Saudis, specifically the younger generation, with creative and high-quality content.
Since UTURN’s launch in 2010, the media industry in the Middle East was not fully recognised as was reflected in a show first produced by UTURN for YouTube in 2010, ‘Takki’, that was picked up by Netflix. He is also the co-founder of TMS, the music space, since January 2020 to date in Jeddah, Makkah, and the co-owner of WASLA since 2019.
The start of something big
One of the first companies in KSA to begin shaping the country’s digital culture in 2010, UTURN Group quickly metamorphosised KSA’s media sector. Comprising of the production company Made in Saudi Films; UTURN Entertainment; Multi-Channel Network (MCN), as well as the creative agency Fullstop Creatives, in July 2018, UTURN merged with Webedia Group, a rapidly growing French media and entertainment group powered by insight and technology with operations in 15 countries including France, USA, Brazil, Germany, UK, Spain, Turkey, Lebanon, Mexico and LATAM.
Webedia Middle East is home to yasmina.com, 3a2ilati.com, and atyabtabkha.com, and with Made in Saudi Films, UTURN Entertainment, and Fullstop Creatives, formed Webedia Arabia in 2018. Subsequently, Al Khatib was appointed in the role of the chairman across KSA, the UAE, Egypt and Lebanon. As a key player in the digital space, Webedia Arabia now forms one of the largest digital networks in the Arabic language space.
The merger between the two companies marks a strategic move to capitalise on the growing digital landscape of the region, and as a result of the merger, Webedia Arabia will have a robust presence in the Gulf, with offices across the UAE and KSA. And as an economy boosting business aligned with Vision 2030, Webedia Arabia are ambitioning toward establishing businesses, jobs, and opportunities in KSA.
NAME: Mohamed Al Turki
DESIGNATION: CEO
COMPANY: Red Sea International Film Festival (RSIFF)
INDUSTRY: Culture and Society
To support the development of the burgeoning film industry in KSA, Al Turki joined the Red Sea Foundation in 2020, an independent, non-profit organisation dedicated to promoting film culture in KSA.
In May 2022, Al Turki was promoted to his current role at the Red Sea International Film Festival (RSIFF) where he is helming the expansion of the festival. This follows from the success of its inaugural edition which spanned 10-days and welcomed over 30,000 filmgoers along with 3,155 industry professionals to celebrate the best of Arab and global cinema.
At RSIFF, Al Turki is directly involved in the development and day-to-day running of the event and spearhead the growth of the festival as a key date event on the international circuit. The second edition was widely applauded for significantly expanding the industry and events program alongside presenting 143 films from 66 countries to 39,410 filmgoers and 4,345 film professionals, media members and students. The third edition of RSIFF 2023 will take place from 30 November to 9 December 2023 in Jeddah, KSA.
Background
For 12 years, Al Turki worked in Hollywood as a producer with executive producer credits on films including Crisis, 99 Homes, Arbitrage, What Maisie Knew, and others. He returned to KSA in 2017 after the cinema ban was lifted, and to date, has been a driver in the efforts to build a TV and film industry in the Kingdom.
Aligned to Vision 2030’s strategy to steer the country’s economy away from a reliance on oil and gas, the festivals’ objectives support the Kingdom’s ambitious 2030 plans to transform into a global film and hub and reputed cinematic powerhouse.
The Red Sea Film Foundation
An independent, non-profit organisation created to support KSA’s film industry across the distribution and production of films, the Foundation’s initiatives support Vision 2030’s plans in the entertainment industries as part of an ambitious nation, vibrant society, and a thriving economy.
The Red Sea Fund supports the development, production, and post-production of Arab and African films with over 100 projects and $14 million in grants. The Fund is seeking out filmmakers across multiple genres, such as fiction, documentaries, animation and more, to provide support from development to post-production. The Red Sea Fund has also supported initiatives such as The Red Sea Lodge, in partnership with the TorinoFilmLab which offered a 10-month creative and professional training programme to filmmakers.
NAME: Fahd bin Abdulmohsen Bin Salih Al Rasheed
DESIGNATION: CEO
COMPANY: The Royal Commission for Riyadh City (RCRC)
INDUSTRY: Urban Development and Planning
Appointed to his current role in November 2019 and tasked with turning Riyadh city into a megatropolis, Al Rasheed is well-experienced in urban master planning and delivery. With a decade of prior experience as the group CEO and managing director of King Abdullah Economic City (KAEC), the first publicly listed greenfield city in the world, he spearheaded the development of King Abdullah Port, the first private port in the region and one of the world’s 100 largest port facilities, during his tenure at KAEC. He also held the roles of the CFO and deputy governor of the Saudi Arabian General Investment Authority (SAGIA).
Also, the founder and chairman of the non-profit Red Sea Foundation, Al Rasheed is the vice chairman of the Board of Trustees of the Prince Mohammed Bin Salman College of Business and Entrepreneurship. In his leadership role at the Royal Commission for Riyadh City (RCRC), the authority responsible for Riyadh’s strategic development, Al Rasheed serves as the chair for multiple organisations, including the Riyadh Expo 2030 Bid; the Saudi Conventions and Exhibitions General Authority; and the King Faisal Specialist Hospital and Research Centre. He is a board member of King Abdullah University of Science and Technology; Prince Mohammed Bin Salman College; King Salman Park Foundation; Diriyah Gate Development Authority, among others.
Royal Commission for Riyadh City (RCRC)
Responsible for the overall planning and development of Riyadh city across urban, economic, developmental, social, cultural, environmental, transport, infrastructure, and digital infrastructure, RCRC also provides the city’s needs for public services and facilities.
As Riyadh is undergoing a transformation to become one of the most competitive and liveable cities in the world by the next decade, the mega-projects under development will help secure Riyadh’s position as a popular destination for business, leisure, and domestic tourism. Backing projects that include Green Riyadh, the King Salman Park, Sports Boulevard, and Riyadh Art, other investment opportunities include Dirriyah Gate, the King Abdullah International Gardens, and more.
King Abdulaziz Public Transport Project
One of the ambitious plans set by the RCRC is to provide integrated solutions for public transport through the King Abdulaziz Public Transport Project in Riyadh. The Riyadh metro is the largest single-phase public transport project ever developed and covers a length of approximately 176 km of railway lines, on which electric trains operate without drivers. The project is expected to save around 400,000 litres of fuel per day and reduce the number of daily car trips by approximately 250,000, thereby reducing the percentage of carbon emissions.
NAME: Abdullah Al Bader
DESIGNATION: CEO
COMPANY: Almarai
INDUSTRY: Retail
With over 23 years of experience across senior leadership positions at Almarai within the company different sectors, including shared services, distribution, manufacturing, sales, and marketing, Al Bader joined the conglomerate in 2000. Serving over 42 million consumers in the Arabian Gulf region, Almarai is the Middle East’s largest food and beverages manufacturer and distributer as well as the world’s largest vertically integrated dairy company.
Involved in strategic functions, he was appointed to the role general manager of Almarai’s bakery division in 2015. The most recent role he held prior to his appointment in March 2021 as the company’s CEO was as the executive vice president of Almarai’s bakery division. He earned a master’s degree in Business Administration from the University of Leicester in the UK.
Successful acquisitions
In 2022, Almarai recorded a 12.5 percent increase in net profit to $453 million, compared to $399 million recorded in 2021, mostly steered by the daily and bakery segments. And in February 2022, Almarai acquired a 25 percent stake in Modern Food Industries through its subsidiary Western Bakeries for $67 million. The acquisition made Almarai the full owner of Modern Food Industries.
One year later, Almarai Investment Holding purchased PepsiCo’s 48 percent ownership in International Dairy and Juice Limited (IDJ), a former joint venture with PepsiCo in Jordan and Egypt with its main activities consisting of food and beverage manufacturing and distribution. This move increased Almarai’s shareholding from 52 percent to 100 percent, and added more weight to its global footprint.
Helping to support Vision 2030
Underpinned by a ‘doing better everyday strategy’, Al Bader is helping to steer Almarai towards the 25 sustainability targets that are aligned with the United Nations Sustainable Development Goals as well as Vision 2030. In March 2023, Almarai Company announced its participation in Waad, a training programme by the Ministry of Human Resources and Social Development.
It will provide over 50,000 training opportunities for Almarai’s employees over the next three years. In accordance with the objectives of Vision 2030, it aims to raise the level of skills in the labour market. Saudisation is also a key action plan already implemented at Almarai, as according to their official website, already have 9,000 Saudi female and male employees, with an employee retention rate of 90 percent during the year 2022, compared to 88 percent in the previous year. And in KSA, the Almarai Company was ranked among the top 15 employers for professional development.
NAME: Abdulrahman Al Fageeh
DESIGNATION: CEO
COMPANY: Saudi Basic Industries Corp (SABIC)
INDUSTRY: Petrochemicals
On 21 March 2023, Al Fageeh was appointed as the new CEO at Saudi Basic Industries Corp., also known as SABIC. Currently the chairman of SABIC Agri-Nutrients Co. and the Nusaned Investment Co., he had been working with SABIC as the acting CEO since September 2022. With three decades of experience at SABIC, Al Fageeh has held several key leadership posts within the company, including helming the company’s largest business, petrochemicals, in the role of the executive vice president since it was established in October 2016.
He holds multiple leaderships roles across various groups, including the chairman of the Petrochemical Manufacturers Committee, as well as the chairman of the Gulf Petrochemicals and Chemicals Association. Also, a board member of the Saudi General Authority of Foreign Trade, Al Fageeh is also on the board of the Royal Commission for Jubail and Yanbu.
About SABIC
Since SABIC was founded by a royal decree in 1976, it has transformed into one of the world’s largest petrochemicals manufacturers, based in Riyadh. With 70 percent of the company’s shares owned by Saudi Aramco and the remaining 30 percent are publicly traded on the Saudi stock exchange, today, the company has a global workforce of over 31,000 talented individuals with operations in around 50 countries.
Operating through three strategic business units, petrochemicals, agri-nutrients and specialties, along with metals (Hadeed) as their standalone organisation, SABIC also invests in technology and innovation (T&I). With hundreds of dedicated scientists at their global T&I facilities, the company is contributing to the ongoing development of new certifications and patents.
SABIC’s sustainable solutions
With innovation underlining SABIC’s sustainable future, the company has built their 2025 strategy which merges innovation, sustainability, and technology across its businesses. From a sustainability lens, SABIC studies megatrends including resource scarcity and climate change to further understand its potential impacts on business. Innovation at SABIC entails the development of technologies to boost the manufacturing facilities efficiencies, create products and solutions their clients require, and, reducing environmental impacts as well as driving down costs.
Backing an approach that generates multiple avenues for growth, the company incorporates sustainability into every step of their technological processes, from commercialisation to generating ideas. And SABIC not only ensures the development of core economic value across the value chain, but also ensure that human capital as well as natural and social capital are managed in the most sustainable way possible for generations to come.
NAME: Robert Wilt
DESIGNATION: CEO
COMPANY: Saudi Arabian Mining Company
INDUSTRY: Industry
Appointed to his current role on 1 February 2022 at Ma’aden (Saudi Arabian Mining Company), Wilt’s wealth of experience in delivering exceptional strategic and operational results in a range of challenging global environments spans over three decades across multiple leadership positions.
He held the role of the president of the Metals Group at Precision Castparts Corporation where he helmed two subsidiary aerospace and industrial companies, followed by an appointment as the president and CEO of Sofina Foods, one of Canada’s largest food processing companies with a global footprint, between February 2020 and January 2022. He was also accountable for the world’s largest bauxite mining and alumina refining system, and third largest smelting system, when he was appointed as the executive vice president of Alcoa for 17 years. He holds a Bachelor’s Degree in Engineering Management from the US Military Academy at West Point, New York; as well as an MBA from Harvard Business School, USA.
About Ma’aden
Established by royal decree in 1997 with a mandate to develop KSA’s minerals sector as the third pillar of Saudi industry, Ma’aden is the largest multi-commodity mining and metals company in the Middle East and one of the top five mining companies globally based on market capitalisation. Initially owned by the Saudi Government, in June 2018, the government holding went up with the Public Investment Fund (PIF) which increased its shareholding to 65.44 percent.
Achievements
Since their IPO, Ma’aden has diversified from being a gold producing company by building abundant, world-class phosphate, aluminium, industrial minerals and copper concentrate operations. With 17 mines and sites and 6,000 direct employees, some of their mega projects include Ras Al Khair and the mining industrial mega-hub; Wa’ad Al Shamal while Ma’aden supports Vision 2030, with its contribution towards building new infrastructure facilities, which has attracted significant foreign direct investment and advanced technology. It is also committed to responsible and sustainable operations and is developing the mining industry in line with Vision 2030.
Undertaking a joint venture agreement In Q1 of 2023 for the country’s industrial development, PIF (Public Investment Fund) and Ma’aden are partnering to establish a new company that aims to invest in mining assets globally. It aims to initially invest in lithium, copper, nickel, iron ore, and copper, Ma’aden will own 51 percent and PIF will own 49 percent of the company with company capital valued at $50 million and will ultimately help position KSA as a key partner in achieving global supply-chain resilience.
NAME: Mohammed Bin Abdullah El Kuwaiz
DESIGNATION: Chairman
COMPANY: Saudi Capital Market Authority (CMA)
INDUSTRY: Finance
Prior to his current position at CMA since July 2017, El Kuwaiz was appointed as the vice chairman from August 2016 to July 2017 and has been a member of the board of trustees since November 2010. Backed by decades of finance experience across several key companies, his previous experience includes a role with McKinsey & Company International as a management consultant for two years.
He also co-launched Derayah Financial Company in April 2006. El-Kuwaiz also worked in the field of investment banking and corporate banking at Samba Financial Group in Saudi Arabia, where he co-founded the M&A advisory unit and advised numerous corporate finance, M&A and placement transactions. He also structured, launched, and managed Samba’s first alternative investment vehicles (including PE and hedge funds).
A seasoned board member
He is also a member of the board of directors of the Public Pension Agency, the Advisory Committee of the Capital Market Authority, Bank Albilad and Al Yamamah Steel Company, as well as a member of the Investment Committee of the Suleiman Abdulaziz Al Rajhi Endowment Company; of the Securities and Investment Committee of the Chamber of Commerce and Industry in Riyadh; and the Investment Committee of the King Faisal Foundation. He earned his bachelor’s degree in 1998 in administrative sciences in law from King Saud University; and in 2003, went on to attain a master’s degree in Business Administration from Stern College, New York University, USA.
About CMA
The CMA’s basic objectives are to create an appropriate investment environment, boost confidence, and reinforce transparency and disclosure standards in all listed companies, and to protect the investors and dealers. In terms of the market value of shares traded on Tadawul, CMA ranked 9th globally in 2022 and 4th among the G20 members in 2021, according to CMA’s Undersecretary for Strategic and International Affairs Yazeed bin Saleh Al Dumaiji.
On 23 March 2023, CMA issued the Quarterly Statistical Bulletin (QSB) for Q4 of 2022, through which it aims to provide statistical information and data about the Saudi capital market that is important for investors, market analysts, and academic and student researchers. QSB provides a variety of data on the Saudi capital market including Initial Public Offerings (IPOs), equity and investment funds, as well as data regarding capital market institutions, and authorised FinTech companies, and more. According to QSB data, the number of listed companies on the main market (TASI) reached to 223 companies, with an increase in Q4 2022 of 6 percent.
NAME: Sheikh Sulaiman Bin Abdulaziz Al Rajhi
DESIGNATION: Co-founder
COMPANY: Al Rajhi Bank
INDUSTRY: Banking
Considered one of KSA’s wealthiest non-royals, and among the world’s leading philanthropists, Sheikh Al Rajhi is a globally renowned philanthropist and Saudi rags-to-riches billionaire. In addition to establishing the world’s largest Islamic bank, he also established real estate and other investment projects across KSA.
He founded the largest poultry farm in the Middle East and is credited with the activation of KSA’s organic farming experiment through the launch of several farming projects, including Al Laith shrimp farming. While banking and finance remain their primary source of wealth, the Al Rajhi family has diversified its holdings into real estate, trading, construction, manufacturing, and other areas.
Passionate about charity
Driven by a need to help others, in 2011, Sheikh Al Rajhi announced he was donating most of his fortune to charity to help fund education and anti-hunger efforts in KSA. The endowment is also the recipient of his shares in the family’s investment firm, which has agricultural projects in Africa and Eastern Europe as well as his stake in his paper and plastics company. In 2013, he transferred his nearly 20 percent stake in Al Rajhi Bank to a charitable endowment that bears his name, but retained other assets worth more than $1 billion, including Al Watania Poultry, one of the biggest poultry farms in the Gulf.
About Al Rajhi Bank
Founded in 1957 with its first branch launched in Aldirah, KSA, Al Rajhi Bank is the second biggest lender in the kingdom and is also the world’s largest Islamic bank by mortgage assets and market capitalisation. It was in 1988 that the bank was established as a Saudi joint stock company under the name of Al Rajhi Banking and Investment Corporation which later in 2006 was renamed as Al Rajhi Bank.
Deeply rooted in Islamic banking principles, the Sharia-compliant banking group is instrumental in bridging the gap between modern financial demands and Sharia intrinsic values, whilst spearheading numerous industry standards and development. In October 2006, the bank set up its first overseas operations, in Malaysia.
With an established base in Riyadh, Al Rajhi Bank has a vast network of over 515 branches, more than 4,824 ATMs, 547,507 POS terminals installed with merchants and the largest customer base of any bank in the Kingdom, in addition to 205 remittance centres across the kingdom. Fuelled by a jump in lower provisions for expected credit losses and financing and investment, in 2022, Al Rajhi Bank reported an over 16 percent rise in net profit to $4.6 billion.
NAME: Turki Bin Matooq AlThonayan
DESIGNATION: CEO
COMPANY: The National Security Services Company (SAFE)
INDUSTRY: Safety and Security
AlThonayan first began his career at Aramco, where he held Head of Industrial and Community Security Support Operations Division and became the Director of the Northern Region superintendent of Maritime Security Operations. Then he joined AMNCO as a Chief Executive Officer.
He also holds a bachelor’s degree in computer science. In 2008, he also received a master’s in business administrations in 2008 from King Fahd University of Petroleum and Minerals. Now, AlThonayan stands at the helm of the National Security Service Company (SAFE). SAFE is owned by the kingdom’s Public Investment Fund and licensed by the Higher Commission for Industrial Security.
Industry leader
The company seeks to strengthen and transform the security services sector through a consultative approach providing various security solutions with the combination of world best technologies and the expertise of well trained and distinguished security personnel operating in various key sectors. These sectors include smart cities, airports, ports, government agencies, residential areas, commercial institutions, sports stadiums and public events under the supervision of a team with extensive experience with previous successes in this field to uplift and transform the security services sector in the kingdom and turn it into an attractive profession.
The firm has the ambition of pioneering the new economy of Security Services and Technologies throughout the Kingdom, focused on delivering international standards and excellence through the integration of professional and trained talents, latest technologies and premium service solutions.
When asked on SAFE’s role in uplifting the private security sector in Saudi Arabia and regionally, AlThonayan said, “The Kingdom of Saudi Arabia prides itself for establishing a 100 percent nationalised security ecosystem, unique and distinctive in the region. In keeping with Vision 2030, the Kingdom is undergoing a complete transformation and at the dawn of every day. Intrinsic to this evolution, the private security industry is also enduring a massive reformation and has assumed a more critical role in recent years. With the Kingdom’s strategic position, straddling the Arabian Peninsula, the security market is sizeable as it stands and is estimated to reach SAR 35 billion by 2024.”
In 2022, AlThonayan was also honoured at the prestigious CEO Middle East Awards, receiving the award for Security CEO of the Year.
NAME: Khaled Al Seif
DESIGNATION: Chairman and CEO
COMPANY: El Seif Group of Companies
INDUSTRY: Construction
A businessman whose Riyadh-based group has been instrumental for its work on some of KSA’s most iconic buildings in recent years, Al Seif has steered El-Seif Group to become a leading conglomerate in KSA. One of the leading contracting companies of high-rise towers, the KSA-based firm uses the latest advanced systems and international construction to deliver smart tower projects in the region.
Established in 1975, the company has been behind some of the region’s most stellar projects, including several towers at King Abdullah Financial District; the Kingdom Tower in Riyadh, which stands at over 300 metres, in addition to other towers and high-rise buildings in Dubai and Beirut. He has also worked on the Al Falah Community Development in Abu Dhabi which was built for UAE nationals as part of the Plan Abu Dhabi 2030 Urban Structure Framework Plan.
He is also the founder of several other companies, including Universal Advanced Systems Company, Arabian Medicare Company, El Seif Engineering Contracting Establishment, and El Seif Development Company.
Backed by robust experience
Since 2009, Al Seif has been the vice-chairman of the Committee for International Trade at the Council of Saudi Chambers of Commerce and Industry, and is also the chairman of several companies, including of Marina Towers in Lebanon; El-Seif Holding Company in Lebanon; and of Amana Cooperative Insurance Company. He is also a board member of the multiple companies, including Saudi Medicare Company; International Management Development Company; Dana Investment and Development Company; Al Azizia Commercial and Investment Company; National Power Company; and the Al Seif Holding Company in Lebanon, amongst others.
And since 1999, he has been a board member of the Riyadh Philanthropic Society for Science (Prince Sultan University) and since 2006, Al Seif has also been a member of the board of directors of the US-Saudi Arabian Business Council.
Steering the Group on an upward trajectory
The Group was launched in 1951 and is headquartered in Riyadh, KSA, as well as other countries around the world. One of KSA’s leading private conglomerates, the Group boasts diversified interests in logistics, healthcare, construction, engineering, total facility management, infrastructure and development. El Seif Engineering Contracting Company has been providing general contracting, projects construction management, design and build services, engineering, procurement, and construction (EPC), as well as international procurement services. And recent projects include Qiddiya Water Theme Park; Diriyah Gate Development Authority; and the execution of the main tunnels and bridges of King Salman Park Foundation.
NAME: Faisal Bafarat
DESIGNATION: CEO
COMPANY: General Entertainment Authority (GEA)
INDUSTRY: Entertainment
With an early career that encompasses over two decades of senior managerial positions, Bafarat earned a bachelor’s degree in mechanical engineering from San Francisco University in California, USA. He initially embarked upon his career at Motorola Technology here as an engineer, followed by an appointment at Proctor & Gamble as the brand manager. He later joined the Saudi Arabian General Investment Authority (SAGIA) as the vice president of the Regional Development Agency, before becoming its deputy governor.
With an initial foray into the General Entertainment Authority (GEA) in January 2018, Bafarat was initially appointed to the role of the acting CEO prior to becoming the senior adviser to the chairman of the board. Throughout his tenure at the GEA, he helmed multiple founding projects. In his current role, Bafarat is responsible for the overall performance of the organisation, helps to implement decision-making, and steers the development of the authority’s strategy.
The first IAAPA Middle East Trade Summit
As part of efforts to further boost the nation’s booming industry, GEA hosted the first IAAPA Middle East Trade Summit in Riyadh, organised by GEA from March 5 to 9. In existence for around over 100 years, IAAPA is new to the Middle East. The two-day summit is supported by efforts to further improve KSA’s burgeoning entertainment sector and help to support Vision 2030 goals.
At the summit, 45 speakers gathered together to share experiences and expertise within KSA’s entertainment industry, some of experts included senior officials from Six Flags Qiddiya, Disneyland Paris, and Parques Reunidos. During the eagerly anticipated two-day summit, attendees were provided information about KSA’s entertainment destinations and projects, in addition to the key entertainment projects that are in progress. The second part of the summit discussed preparing the next generation for the entertainment industry, human capital, and supply chain strategy.
The Entertainment Business Accelerator Programme
The GEA launched the Entertainment Business Accelerator Programme in February 2023 to encourage entrepreneurs interested in the rapidly growing sector which aligns with Vision 2030 goals in attracting 100 million visitors to the Kingdom annually. Operating in two phases, the 12-week programme aims to provide entrepreneurs with training and guidance and connect them with consultants and experts specialised in project development and a network of investors. Mentors and experts will support and guide them in developing their projects, monitor their performance, and help them to prepare for the advanced investment to expand their businesses.
NAME: Dr Rakan Al Harthy
DESIGNATION: Founder, CEO and Managing Director
COMPANY: Sela Sport Company
INDUSTRY: Events Management
In addition to his current role at the Sela Sport Company, Dr Al Harthy is also the vice president of the Sela Holding Company. A visionary leader in the sports and entertainment sectors, he has led and managed Sela Sport Company for over two decades, making it an established leader in its field. In partnership with government entities, Sela has contributed to the growth and quality of sports and entertainment in KSA.
A pioneer in the Saudi entertainment industry, Dr Al Harthy is the recipient of an award at the Joy Entertainment Industry Forum in Riyadh in 2019. With a core background in medicine, he received his MBA in Hospital Management in 2006 from HFB, Business School in Frankfurt, Germany, preceded by a bachelor’s degree in medicine and surgery from the King Saud University in KSA.
Establishing a foothold in sports in KSA
Established in 1995, Sela Sport Company was the first sports marketing business in KSA, and since its launch, has transformed to become a leading sports marketing business in the MENA region. The company has become synonymous with exponentially boosting commercial revenue for sports properties across the region by connecting fans to brands through sports.
Best known for representing the rights of properties serving more than 100 million fans in the MENA region, including Saudi clubs, the National Team and various football competitions, Sela have also been responsible for launching the highly successful Saudi Pro League, have invested in the New York Cosmos, and delivered the 2015 and 2016 editions of the Saudi Super Cup in London.
Backed by multiple partnerships with government entities in 2017, Sela established a firm foothold in the market to implement and execute all types of events around the world. In 2019 alone, more than 15 million attendees experienced events managed by Sela in KSA.
And across the Kingdom, Sela is planning a collection of mega destinations, parks, and resorts to contribute to the Vision 2030, both directly and indirectly. Headquartered in Jeddah, with offices in various cities, including Makkah, for over 28 years, it has played a significant role in sports, culture, tourism, events, conferences, and exhibitions industries.
Aligned with Vision 2030
As a partner of Riyadh Season and as part of Vision 2030 that works to enhance the quality of life for citizens and residents, KSA’s sports sector has witnessed significant development in recent years driven by widespread social transformation and government investment commitments in sports valued at $2 billion by 2024.
NAME: Ayedh F. Al Qahtani
DESIGNATION: Chairman
COMPANY: Sumou Holding Company
INDUSTRY: Diversified
Following in the footsteps of his father, Sheikh Farhan Bin Al Mubarak Al Qahtani, one of KSA’s most successful businessmen who had founded one of the biggest contracting companies in the kingdom during the 1950s, Al Qahtani has steered Sumou to become one of KSA’s most robust property firms, with projects in Khobar, Makkah, and Dammam.
He received his Bachelor’s degree in industrial management from King Fahad Bin Abdul Aziz University (KFUPM) for Petroleum and Minerals, as well as received his doctorate with honours in Real Estate Industry from Concordia University North West in Canada.
As chairman of the Board of Directors of the Sumou Holding Company, Al Qahtani is also the chairman of the Board of Directors of the Sumou Real Estate Company, a Saudi stock exchange listed company.
He is also the chairman of the Board of Directors of Musharaka Financial Company (Licensed by the Capital Market Authority). chairman of the Board of Trustees of the Farhan Mubarak Al-Qahtani Society for Community Service, chairman of the Endowments Committee in the Asharqia Chamber, chairman of the Board of Directors of Empowerment of Endowments Association, in addition to chairman of the Real Estate Committee of the Asharqia Chamber, a role he held from 2010 to 2012.
Al Qahtani is also a partner and one of the Founders of AlOula Real Estate Development Holding Company; was a member of the Board of Directors of Arriyadh Development Company (listed Company) from 2010 to 2015; a member of the Board of Directors of Asharqia Chamber from 2006 to 2009, in addition to holding the role of chairman and member of several society associations in Saudi Arabia.
About Sumou Holding Company
A stellar institutional investor, Sumou Holding is steering growth in key business sectors strategically vital for the local and global economy. Launched officially in 2008, the firm merges together local market knowledge, capital, and international expertise and is facilitating business growth in regional markets.
Aligned with the processes and frameworks on par with those of first-rate global investment institutions, Sumou Holding Company encompasses the resources, scale, expertise and international partnerships, the firm works on creating turnkey solutions and bespoke answers to market needs.
CSR also plays a role as Sumou Holding Company prioritises business opportunities that can both generate revenue while benefitting society. Today, Sumou Holding Company is engaged with several sectors, including logistics, real estate, construction, and more.
NAME: Salman Bin Abdullaziz Al Badran
DESIGNATION: CEO
COMPANY: Etihad Etisalat
INDUSTRY: Telecoms
In his current role at Mobily since April 2019, Al-Badran initiated his career with Saudi Telecom Co. (stc) from January 2008 to December 2008, working as project director for the company’s VIVA launch. Some of his achievements at stc included the implementation of a cellular network in almost 800 outdoor sites and 120 in-building systems in six months.
He also worked at Kuwait Telecom Co. VIVA (now stc), as a chief technical officer from December 2008 to December 2010, where he managed the expansion of the network to a one million subscriber capacity and implemented the High-Speed Packet Access (HSPA+) mobile broadband services that are the most-in-demand in the Kuwait telecom market. He went on to take over the helm as the CEO from January 2009 to April 2019, lending him 15 years of experience in the field of wireless telecommunications.
Diverse telecommunications experience
With over two decades of leadership experience in the GCC region, including 22 years in the ICT sector, Al Badran had led stc Kuwait’s founding team followed by his appointment to a CEO. In his current role at Mobily, he has steered the company in a new direction while spearheading positive change. An elected member of the Board of Directors of SAMENA Telecommunications Council, he has been recognised by the INSEAD Business School as one of the region’s top 100 CEOs. In addition to holding multiple professional certificates, Al Badran holds a Bachelor’s Degree in Applied Electrical Engineering from King Fahd University of Petroleum and Minerals, Dharan.
Fostering innovation
A Saudi company launched commercially in May 2005, Mobily provides integrated services for three main sectors, which includes individuals, businesses, and carriers. Boasting one of the largest wireless networks by coverage both in KSA and in the region, Mobily also includes one of the largest data centre systems worldwide, as well as one of the widest FTTH networks. By providing support through more than 530 branches throughout KSA, Mobily recently sponsored the Formula E 2023 Diriyah ePrix event, in addition to supporting sustainability plans and a reliance on clean energy.
By deploying 5G network services and increasing network coverage by 80 percent in six major cities in KSA, Mobily also focuses on global and regional alliances to boost KSA’s digital infrastructure. This includes the Africa-1 Submarine Cable which speeds up data transfer between KSA, several European countries and neighbouring countries. And in collaboration with Nokia, Mobily had merged 5G frequencies resulting in the fastest communication experience in the Middle East.
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