Nadhmi al-Nasr has left his role as CEO of Neom, Saudi Arabia‘s $500 billion giga-project, in a major shakeup of the leadership team.
He is being replaced by Aiman al-Mudaifer as acting CEO of Neom. In a statement, Neom did not provide a reason for Al-Nasr’s departure.
“As Neom enters a new phase of delivery, this new leadership will ensure operational continuity, agility and efficiency to match the overall vision and objectives of the project,” the statement said.
Al-Mudaifer will be supported by Neom’s leadership team. Since 2018, he has served as the head of the Public Investment Fund’s local real estate division and “has a deep and strategic understanding of Neom and its projects”, the company said.
In his role at the PIF, Al-Mudaifer led all local real estate investments and infrastructure projects. He is also a board member of multiple companies within Saudi Arabia.
News of the leadership shakeup at Neom comes after the company appointed a team to lead the architecture and engineering for the first phase of The Line, billed as a zero-carbon city with “vertically layered” buildings for work, living and leisure.Â
Earlier this year, Saudi Arabia’s economy minister Faisal Al Ibrahim said Neom’s projects will go ahead as planned following reports that plans for The Line had been scaled back.Â
“All projects are moving full steam ahead,” he said in April.
Aiman al-Mudaifer is acting CEO of Neom
“We set out to do something unprecedented and we’re doing something unprecedented – and we will deliver something that’s unprecedented.”
Highlights at Neom include Trojena, a mountain resort with a ski village, ski slope, wellness resorts and a nature reserve, and Oxagon, an octagonal floating port city.Â
Neom’s first destination, a luxury resort named Sindalah, opened last month.
Saudi Arabia is creating several giga-projects, like Qiddiya and The Red Sea, in a bid to diversify the economy and reduce the kingdom’s reliance on oil.
Images courtesy of Neom
