PIF-backed Saudi Real Estate Company (Al Akaria) named Abdullah Abudawood (LinkedIn) as its new CEO, effective 5 April, it said in a Tadawul disclosure. Abudawood brings over 25 years of cross-sector leadership to the role, having led Remat Al Riyadh Development Company and taken leadership positions at Channels Communications Company, Jazan Economic City, and the Industrial Valley at King Abdullah Economic City.

Why it matters: The new leadership signals a shift in strategy for Al Akaria. While the developer recorded a massive 898% y-o-y jump in income in 9M 2025, it now needs to deliver on a heavy project backlog, including early works for the Expo 2030 Riyadh site, Fai Sedra complex, and Al Narjis Business Park. Abudawood, a former advisor to the Mayor of Riyadh, brings the “inside track” on the city’s urban development priorities.

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