Neom project CEO Nadhmi al-Nasr replaced as Saudi Arabia shifts focus on development

ft.com

Nadhmi al-Nasr has been replaced as CEO of Neom, Saudi Arabia's $500 billion development project, after six years in charge. His departure comes amid pressure on the Public Investment Fund to deliver on various mega-projects. Aiman Al-Mudaifer, currently leading the local real estate division at the Public Investment Fund, will serve as acting CEO. Neom aims to enhance operational efficiency as it enters a new phase of development. Neom, part of Saudi Arabia's economic diversification plan, has faced skepticism and leadership changes. The project includes ambitious elements like a linear city and a ski resort, but has struggled to meet expectations.


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Neom project CEO Nadhmi al-Nasr replaced as Saudi Arabia shifts focus on development | News Minimalist