Saudi Emaar Economic City names CEO
Riyadh, January 26, 2008
Saudi developer Emaar Economic City, spearheading the development of King Abdullah Economic City (KAEC), has appointed Fahd Al Rasheed as its chief executive officer, the company said.
Al-Rasheed will implement strategies for the on-schedule completion of KAEC and further enhancement of its appeal as a global investment destination, the company said in a statement.
Rasheed, a Saudi national, was earlier deputy governor of economic cities at state-run Saudi Arabian General Investment Authority (Sagia).
An MBA-holder from Stanford Business School, Rasheed was also Sagia's CFO and he helped develop private equity vehicles that mobilised more than $1.7 billion in investments, it added.
Emaar Economic City is an affiliate of Dubai-based Emaar Properties.-Reuters