ECONOMY

PROFILE: Who is Nadhmi al-Nasr, the new CEO of Saudi Arabia’s NEOM?

Starting August 1, 2018 while Nadhmi al-Nasr will take over as CEO. (Supplied)

Nadhmi al-Nasr was announced on Tuesday as the new CEO of Saudi Arabia’s mega-city project NEOM.

‏From August 1, Al-Nasr will transition from leading NEOM Bay, one of the initial stages of NEOM’s development, to become the overall CEO.

He had worked on developing the strategy and development of NEOM Bay and will soon be responsible for further strategic development and business plans for NEOM’s core economic sectors.

Al-Nasr, who is a member of NEOM’s Founding Board, has over 30 years of experience with Saudi Aramco and most recently has been the Interim President for the King Abdullah University of Science and Technology.

As part of that role, he held a wide range of responsibilities; from developing strategy and business plans to leading major initiatives and projects.

Al-Nasr is also well-known for "turning visions into realities" and aims to serve as a catalyst for NEOM achieving its ambitious vision, according to industry insiders.

The planned mega-city is a 26,500 square km zone, designed to attract international investors, is to focus on industries such as energy and water, biotechnology, food, advanced manufacturing and tourism, according to officials.

Officials said public and private investment in the area was eventually expected to total $500 billion.

NEOM is the world’s first independent special zone stretching over three countries set to become a destination located in the northwestern region of Saudi Arabia. (NEOM)

 

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Last Update: Tuesday, 3 July 2018 KSA 09:03 - GMT 06:03
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