Saudi Arabia's $500 Billion NEOM Project Appoints Interim CEO

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Saudi Arabia's ambitious $500 billion NEOM project has appointed Ayman Al-Madihafer as the interim CEO, according to a statement by the company on X. Following the departure of Nadhmi Al-Nasr, Al-Madihafer will lead NEOM's teams across various regions, sectors, and departments. The statement further highlighted that as NEOM progresses into a new phase, this leadership change will ensure operational continuity, efficiency, and alignment with the project’s overall vision and goals.

Since 2018, Al-Madihafer has served as the head of the local real estate division of the Public Investment Fund (PIF) and is also on the boards of several prominent companies in the Kingdom. NEOM has announced multiple sustainable attractions, such as Leyja, Epicon, Serana, Utamo, and Nurlana. In a bid to boost tourism, Saudi Arabia launched its official tourist visa in September 2019 and has since worked to expand its tourism sector. As part of Vision 2030, Crown Prince Mohammed bin Salman has prioritized tourism, envisioning a shift from fossil fuels to diverse economic sources to make the economy more resilient and varied.