PIF appoints Saad Al-Kroud as Head of the General Department of Domestic Real Estate Investments

The Public Investment Fund announced today, Thursday, the appointment of Saad Al-Kroud as Head of the General Department of Domestic Real Estate Investments.

Al-Kroud has served as Chief Administrative Officer at the Fund since 2021. The announcement follows the appointment of Engineer Ayman Al-Mudaifer as Managing Director and CEO of NEOM.

In his new role, Al-Kroud will oversee the development of the Fund’s real estate and infrastructure portfolio in the Kingdom, including major projects, along with several other strategic projects.

Al-Kroud joined the Public Investment Fund in 2016, where he served as Director of Stakeholder Management, overseeing the affairs of the Fund’s Board of Directors and its committees, as well as managing international relations and relations with various local entities, with the aim of achieving the Fund’s initiatives and objectives. In 2021, Al-Kroud was appointed Chief Executive Officer. In 2022, he was appointed Secretary General of the Public Investment Fund’s Board of Directors, where he oversaw the development of corporate strategy and business plans, project management including the establishment of new companies, and the management of the Fund’s portfolio companies, stakeholder relations, and committees.

Al-Kroud serves on the boards of several of the Fund’s portfolio companies.

Ayman Al-Mudaifer has headed the General Department of Local Real Estate Investments since 2018. The Fund’s portfolio of investments in local real estate and infrastructure projects has witnessed remarkable growth and transformation, comprising more than 35 companies. The portfolio’s investments continue to deliver sustainable returns. Continued progress and investment in development and infrastructure projects have strengthened the Public Investment Fund’s position in leading economic diversification efforts in the Kingdom, including the development of tourism and cultural destinations across the Kingdom.

Al-Mudaifer has been appointed CEO of NEOM since November 2024 and serves on the boards of several of the Fund’s portfolio companies. The new appointments are part of the Public Investment Fund’s strengthening of corporate leadership and support the implementation of the fund’s ambitious long-term strategy and its portfolio of over 220 companies, which aims to create opportunities for the global economy and lead the Kingdom’s economic transformation.