Saudi Arabia confirms Aiman al-Mudaifer as CEO of NEOM mega-project

Photography: Courtesy of SPA

RIYADH, May 16 (Saudi Arabia Breaking News) – Saudi Arabia’s Public Investment Fund (PIF) announced on Thursday the appointment of Aiman al-Mudaifer as the Chief Executive Officer of NEOM, the $500 billion flagship development project under Crown Prince Mohammed bin Salman’s Vision 2030 economic diversification strategy.

Al-Mudaifer had been serving as acting CEO since November, succeeding Nadhmi al-Nasr, who previously led the ambitious Red Sea urban and industrial initiative—nearly the size of Belgium.

Sources familiar with the matter previously told Reuters that al-Mudaifer’s permanent appointment signaled increased oversight by the Kingdom’s sovereign wealth fund, which is driving the project’s strategic and financial direction.

Al-Mudaifer previously headed PIF’s local real estate division, where he was responsible for domestic real estate investments and infrastructure initiatives. He has been closely involved in NEOM’s development and monitoring in recent years.

“Over the past months, Al-Mudaifer has remained focused on maintaining operational continuity, improving efficiencies, and accelerating progress across NEOM’s strategic projects and regions,” PIF said in a statement.

NEOM remains one of the central pillars of Saudi Arabia’s Vision 2030, designed to transform the Kingdom’s economic landscape through futuristic urban design, renewable energy, and cutting-edge infrastructure.