The King Abdullah Financial District Development and Management Company (KAFD DMC), the manager of Riyadh’s premier business and lifestyle destination, has announced the appointment of Saad Abdulaziz Alkroud as Chairman of the Board of Directors with immediate effect.
Saad Abdulaziz Alkroud brings a wealth of sectoral experience in Saudi Arabia, said the statement from the company.
Alkroud holds extensive leadership experience in real estate investment and development across Saudi Arabia to the role.
He currently serves as Head of Local Real Estate Investment Division at PIF, where he is responsible for developing PIF’s local real estate and infrastructure investment portfolio, which includes the giga-projects, alongside diversified assets spanning hospitality, retail, and leisure sectors.
Since joining PIF in 2016, he has held senior positions, including Chief of Staff and Secretary General to PIF's Board of Directors, playing a crucial role in shaping the PIF's strategic agenda and the Kingdom's economic transformation, it stated.
On his new role, Alkroud said: "I am honored to assume the chairmanship of KAFD DMC during this defining period for the district. KAFD has established itself as a model for urban development that brings together business, community, and innovation. Indeed, the district's success to date demonstrates how well-planned developments can contribute to Saudi Arabia's economic transformation and create lasting value for the businesses and communities we serve."
"I look forward to working closely with the management team and the stakeholders to build on this strong foundation and support KAFD's continued growth," he added.
With Alkroud's strategic direction and board oversight, KAFD DMC is well-positioned to further capitalize on emerging market opportunities and strengthen its role as the region's flagship mixed-use district.
KAFD's continued evolution as a world-class business and lifestyle destination will further enhance Saudi Arabia's position as a premier investment hub, advancing its economic transformation in line with Vision 2030.
