< Previous10 September 2023 100 MOST INSPIRING LEADERS Driven by the resolute ambi- tion to contribute to Dubai’s visionary pursuit of becoming one of the most modern and advanced cities glob- ally, Alabbar laid the foundation of Emaar in Dubai on 16 June 1997. Presently, the company stands as an eminent gure in the realm of integrated real estate develop- ment. Alabbar’s fervour for real estate ventures extends to his other distinguished enterprises, namely Eagle Hills and Nshama. Since its inception in 2014, Nshama has been crafting elegantly master-planned neighbourhoods that embody technological advancement, sustainability, and profound community living. Beyond his pioneering role in real estate, Alabbar’s ventures encompass retail busi- nesses that span over 20 global markets, including F&B, e-commerce, venture capital, logistics, hospitality, and technology. Alabbar’s innovation journey also encom- passes the establishment of Noon Food, a venture poised to foster a sustainable ecosystem for both businesses and consumers. Since its launch, noon Food is available throughout Dubai, expanding into Sharjah and Abu Dhabi. Alabbar’s transformative vision extends to his e-com- merce firm, Noon, which collaborates with government entities to provide an expansive platform for start-ups in Abu Dhabi and Ajman. At the vanguard of digitisation, Alabbar’s endeavour, Zand, heralds the world’s pioneering combined digital corporate and retail bank. Through multiple world-class mixed-use projects, he has enriched communities across the MENA region, the US, Central and Eastern Europe, and South and Southeast Asia. His remarkable presence extends into the investment realm as a signi cant stakeholder in Middle East Venture Partners (MEVP), o ering tech expo- sure to investors in Turkey and the broader MENA region. Additionally, Alabbar holds a stake in the globally acclaimed online fashion retailer, Yoox Net-a-Porter Group, through his Alabbar Enterprises. A testament to his indomitable spirit, Alabbar’s journey has also unfolded in the hospitality sphere through Emaar Hospitality Group which has aimed to establish homegrown brands that rival the nest international counterparts. Today, the group stands as a testament to his dedication, boasting key hospitality assets that include Address Hotels + Resorts, Armani Hotels and Resorts, Vida Hotels and Resorts, along with serviced residences, leisure clubs, and an array of restaurants and spas. REAL ESTATE 3. MOHAMED ALABBAR Founder and chairman EMAAR AND NOONarabianbusiness.com 11 100 MOST INSPIRING LEADERS Emaar’s new project In June 2023, Emaar unveiled a new luxury waterfront prop- erty development with a total investment of $20bn. The project, named ‘The Oasis by Emaar,’ is set to encompass 7,000 residential units, comprising both mansions and villas. The ultra-luxury waterfront master community in Dubai with four- and ve-bedroom stand-alone villas, a signi cant portion of the land, approximately one-quarter, will be devoted to enhancing the natural surroundings. This includes the creation of lakes, water canals, expansive parks, jogging tracks, and lush green spaces. Moreover, the development will incorporate an array of opulent amenities to cater to a luxurious lifestyle. Emaar Properties robust performance Driven by the surge in tourism, strong retail sales, and a continuous demand for real estate in Dubai, Emaar Prop- erties has revealed robust revenues of $3.3bn for the initial half of 2023. In tandem, the company achieved remarkable group property sales amounting to $5.5bn, marking a note- worthy year-on-year growth of 14 percent. Furthermore, the net pro t exhibited a substantial increase of 15 percent compared to the same period in the previous year, reach- ing $1.3bn. An encouraging sign of Emaar’s promising future, its revenue backlog surged to $17.1bn as of 30 June 2023. This backlog represents the forthcoming revenue generated from property sales, which will be gradually recognised over the upcoming years. This prudent approach to accumulating future revenue underscores Emaar’s commitment to sustainable growth and nancial resilience. A culture of CSR Emaar Properties has cultivated a culture of CSR since 2004, initially focusing on providing support to welfare groups within UAE communities. Steered by Alabbar, a series of initiatives as integral components of Emaar’s CSR programme were suggested and over time, this outreach has extended beyond the borders of the UAE, encompass- ing a diverse range of countries and categories. Sandooq Al Watan is a noteworthy social initiative championed by a group of Emirati businessmen with the aim of fostering sustainable development, a digni ed life, and a promising future for the entire nation. This demonstrates Emaar’s unwavering dedication to its corporate and social respon- sibilities as a pioneering gure within the community. Aligned with the Egyptian government’s directives to provide support to low-income individuals, Emaar Misr introduced Beyout Al Kheir in 2018. This initiative seeks to o er suitable housing and an honourable standard of living while preserving human dignity and advancing social justice. Under the leadership of Alabbar, Emaar Misr pledged to develop a housing unit for underprivileged families corre- sponding to each unit constructed by the company within its Egyptian projects. In 2020, Emaar Properties made a signi cant commitment to embed ESG principles and values into its operational fabric and investment strategies. This commitment is underscored by a three-fold strategy. The rst pillar is dedicated to decar- bonising the company’s real estate assets, closely monitoring emissions to align with global targets. The second pillar focuses on the resilience of assets in relation to climate-in- duced physical hazards and transitional risks originating from market dynamics and energy transition. Lastly, the third pillar centres on cultivating the foundations of a progressive society by providing support to Emaar’s employees and the commu- nities in which the company operates. Concurrently, Emaar supports micro-loan projects aimed at fostering sustainable development. In a bid to champion sustainable and environmentally friendly logis- tics practices, and as a component of their eet expansion, noon Food introduced electric bikes to its Dubai eet in May 2023. E-bikes have gained popularity within the city, with the food delivery sector also embracing this mode of transportation. Since these bikes do not release pollutants, this initiative is in alignment with the UAE’s ambitious target of achieving zero emissions by 2050. The adoption of such a sustainable transportation solution also o ers partners of noon Food a cost-effective alternative to conventional gas-powered scooters. Emaar Properties made a signi cant commitment to embed ESG principles and values into its operational fabric and investment strategies $3.3BN The revenue Emaar Properties posted in the rst half of 202312 September 2023 100 MOST INSPIRING LEADERS INDUSTRY 4. SHAJI UL MULK Founder and chairman MULK INTERNATIONAL GROUP Established in 1982, Mulk Inter- national Group is a 40-year- old global entity with a diver- si ed portfolio spanning primarily four sectors: manufacturing of metal composite panels & LGS homes, real estate, sports assets, and healthcare. Boasting an impressive net worth of over $2bn, the group has been the recipient of the Sheikh Mohammed bin Rashid’s MRM award for the best foreign manufacturer in the UAE. Pioneering manufacturing, ALUBOND At the forefront of global manufacturing, the group's agship product is the metal composite panel, known as the brand ‘ALUBOND’, which trans-formed the group to become the world's largest manufacturer of aluminium composite panels, boasting an impressive installed capacity of 25 million sq m with instal- lations spanning over 100 countries. Innovation in sports, T10 CRICKET The group has gained global recognition for innovating the fast- est cricketing format and 90 minutes cricket under the brand ‘T10 cricket league’. Launched in 2017, it has become a global brand with franchise cricket leagues executed in the UAE, Africa, USA, Sri Lanka, Europe, and India with a combined viewership of over 1 billion. Innovation in healthcare, MULK MED Expanding into the healthcare industry in 2010, the group launched physiotherapy centres, telemedicine facilities, and diagnostic clinics across the region. Mulk Med Healthcare stands as the region’s pioneering tele healthcare ecosystem provider, responsible for the soft launch of Mulk Med Healthcare Virtual Hospital. This innovative venture merges diverse ICT verticals with cutting-edge healthcare solutions. The Mulk Physiotherapy & Home Care Centre emphasises physiotherapy and rehabili- tation, while Global Hawk Imaging and Diagnostics o er an advanced open MRI that enables patients to connect with global specialist doctors. Innovation in real estate, Zim Cyber City The group is currently investing in a $500m real estate project in Zimbabwe, ‘The Zim Cyber City.’ This 46,000 sq m landmark project is managed through the locally registered subsidiary, Zimbabwe Global Investments (ZGI), operating under the Special Economic Zone (SEZ) programme approved by Emmerson Mnangagwa, President of Zimbabwe. This state-of-the-art mixed-use development project is currently underway in Mount Hampden, New Harare. Prom- ising an a uent community and an unparalleled standard of living with duty free shopping amenities, Zim Cyber City emerges as one of Africa's most promising and exciting real estate projects. Building industry innovation Aligned with the group’s vision, the Alubond LGS building system is currently disrupting the construction industry by replacing timber with light gauge steel. The company has won over $250m worth of projects in the USA and UK. Zim Cyber City is also being built using this disruptive building technology which provides a savings of 30 percent in materials cost and 50 percent saved in man hours. Philanthropic endeavours Ul Mulk also steers the Mulk Foundation which o ers a range of support, including free medical clinics, libraries, assistance for disabled children, and an orphan marriage programme. Through these initiatives, the group underscores its commitment towards giving back to the community.arabianbusiness.com 13 100 MOST INSPIRING LEADERS AVIATION 5. SHEIKH AHMED BIN SAEED AL MAKTOUM Chairman and CEO EMIRATES AIRLINE AND GROUP Embarking on his career in the aviation industry in 1985, Sheikh Al Maktoum initiated a noteworthy professional journey that has signi cantly impacted the global avia- tion sector. His initial role involved serving as the president of the Dubai Department of Civil Aviation (DCA) in the same year, overseeing the operations of key entities such as Dubai Inter- national (DXB) and Dubai Duty Free. In conjunction with this, he played a vital role in the establishment of Emirates Airline. At present, Sheikh Al Maktoum holds the position of chairman and CEO of Emirates Airline & Group, an integrated conglom- erate encompassing dnata, a prominent provider of air and travel services, along with other aviation-related entities. Emir- ates operates across six continents, facilitating international connectivity for passengers. Noteworthy for its modern eet of Airbus A380 and Boeing 777 aircraft, the airline has main- tained profitability over three decades under Sheikh Al Maktoum's strategic direction. Dnata and Dubai Duty Free Within dnata and Dubai Duty Free, Sheikh Al Maktoum's lead- ership has facilitated a broad presence across more than 35 countries and six continents, o ering services encompassing handling, cargo, travel, catering, and retail. Dubai Duty Free, a signi cant player in duty-free retail, reported annual sales of $1.74bn in 2022, re ecting his in uential guidance. His strategic insight also played a pivotal role in the reorganisation of the Dubai Civil Aviation Authority (DCAA) and the establishment of Dubai Airports. Beyond the aviation sector, Sheikh Al Maktoum has contributed to Dubai's transformation into a thriving tourist destination and a hub for global trade and transport. Dubai Inter- national (DXB) stands as a leading airport for international passengers, serving a wide network spanning 200 destinations across 90 countries through collaboration with over 80 inter- national airlines. Notable achievements include the introduction of Terminal 3, the pioneering purpose-built A380 facility (Concourse A), and the inauguration of Concourse D. Emirates reported an annual pro t of $3bn for nancial year 2022-202314 September 2023 100 MOST INSPIRING LEADERS Bin Sulayem's expertise and visionary have played an instrumental role in propelling Dubai's expansion. His strategic contributions have extended to various pivotal areas, notably in the development of regional free zones, ports, and infrastructure and have greatly contributing to the impressive upward trajectory of the UAE’s growth. His far-reaching impact is reflected in his multifaceted roles, such as being a board member of the Dubai Executive Council, the chairman of Virgin Hyperloop One, and holding the position of the chairman of the UAE Federal Tax Authority. Multiple achievements Bin Sulayem's achievements span a diverse spectrum, showcasing his adeptness in orchestrating transforma- tional ventures. A shining example is his instrumental role in steering the international expansion of DP World, a lead- ing marine terminal operator. Notably, under his guidance, DP World acquired the P&O Group for $6.8bn in March 2006, positioning it as one of the world's largest port oper- ators and a pivotal trade facilitator, with an impressive global presence spanning 78 marine and inland terminals across six continents. His visionary prowess further mani- fested in the dynamic development of the Jebel Ali Free Zone (Jafza), which he transformed into a thriving business hub housing over 7,300 companies. Additionally, Bin Sulayem's visionary foresight led to the inception of Nakheel, with contributions that include the creation of iconic Dubai landmarks, such as The Palm. Backed by exceptional business acumen Among his notable accomplishments, Bin Sulayem estab- lished and e ectively led Istithmar World, a venture with a focus on private equity investments. The impressive port- folio includes diverse investments across North America, Europe, Asia, and the Middle East, encompassing sectors like retail and nancial services. Furthermore, his vision- ary contributions extend to the inception and leadership of the Dubai Multi Commodities Centre (DMCC), an in u- ential market catering to gold, precious metals, diamonds, coloured stones, and various other commodities. This endeavour signi cantly contributes to the diversi cation of Dubai's economy. LOGISTICS 6. SULTAN AHMED BIN SULAYEM Group chairman and CEO DP WORLDarabianbusiness.com 15 100 MOST INSPIRING LEADERS Innovations at DP World DP World are reimagining the future, with step-change terminal handling innovations designed to streamline their global network of ports and keep things owing. Smart innovations like BoxBay, their intelligent High Bay Storage (HBS) system, are disrupting business-as-usual: increasing terminal handling speed, energy e ciency and safety, while decreasing operating costs. Looking to the future, they have invested in Virgin’s revolutionary Hyperloop technology, an on-demand, incredibly fast cargo pod system that will give cargo owners synchronised and intelligent movement of goods. Third-party logistics With supply chain solutions, DP World provide solutions including third-party logistics (3PL), container services and automated customs clearance and brokerage. With 80 terminals and economic zones around the world, they are at the centre of smarter logistics delivery and o er special- ist solutions for industry sectors, fully customised to make the logistics experience transparent, accessible, and cost-e ective. DP World emerges as a strategic force in the realm of supply chain solutions, o ering a comprehensive suite of services that encompasses third-party logistics (3PL), container services, and automated customs clearance and brokerage. Their expansive global presence spans 80 termi- nals and economic zones, positioning them as a central hub for driving smarter logistics delivery. Within this framework, DP World demonstrates a commitment to delivering special- ised solutions tailored to speci c industry sectors, ensuring a logistics experience that is characterised by transparency, simplicity, accessibility, and cost-e ectiveness. Drawing from a rich reservoir of over three decades of expe- rience, DP World's expertise in running free parks and zones is evidenced by the monumental Jebel Ali Free Zone in Dubai. This success story has been replicated across key international loca- tions, marking their evolution into a pivotal player in industrial development and management both globally and regionally. A notable facet of DP World's strategic expansion is the replication and refinement of their proven model. This is manifested through their ownership, development, and operation of a diverse range of infrastructure that spans industrial parks, inland cargo depots, special economic zones, and specialised facilities distributed across the globe. These vital components serve as enablers of trade, catalysing seamless interactions and stream- lined operations within the international trade landscape. Maritime solutions Every year, DP World enables the movement of $1 trillion worth of goods, and complete over 300 projects a year at their drydocks in Dubai, home to some of the world’s biggest-ever new-build o shore fabrication programmes. Their new ship-lift facility is capable of lifting two vessels of up to 2,500 tonnes. DP World has harnessed the power of technology to bring about signi cant changes in the way they conduct business. Their incorporation of technology encompasses various facets, including the implementation of hyperloop delivery systems and the adoption of automated warehouse stack- ing. Moreover, DP World extends their technological in u- ence to the realm of freight forwarding through the estab- lishment of the Digital Freight Alliance. This initiative revolves around the provision of web-based tools designed to bolster the visibility and appeal of freight forwarders' services on a global scale. By facilitating the promotion of service o erings to a diverse array of custom- ers around the world, the Digital Freight Alliance fosters networking and collaboration among industry stakeholders. Going beyond these endeavours, DP World’s technological contributions also encompass the innovative World Logistics Passport. This programme introduces a distinctive approach to promoting international trade, particularly across regions such as Africa, Asia, and Central and South America. The World Logistics Passport creates a framework for forging new trade prospects, reducing trade barriers, and promot- ing cross-border cooperation. This initiative underscores DP World's commitment to enhancing the global trade land- scape by facilitating greater access and connectivity. DP World is a world leader in the realm of supply chain solutions $9.04BN DP World's revenue in the rst half of 2023; a growth of 13.9 percent compared to the same period last year16 September 2023 100 MOST INSPIRING LEADERS Hisham Alrayes is leading GFH Financial Group towards its vision of becoming the region’s most prominent and diversi ed nan- cial group. Since joining GFH in 2007, and assuming its leadership in 2011, Alrayes has been a driving force in the group’s transforma- tion. He has spearheaded its growth, establishing GFH as a platform for superior investment management, commercial bank- ing, treasury and proprietary investment services. Alrayes drives the development and execution of the group’s global investment strategy, which has seen it build a portfolio of managed assets reaching $19bn across the MENA region, the UK, Europe and the USA. Leading by example In addition to his role as CEO of GFH, Alrayes currently chairs and holds several directorships in nancial, industrial, and real estate companies in Bahrain and the GCC, including Esterad Investment Company (Bahrain), Khaleeji Bank B.S.C. (Bahrain), GFH Capital (KSA), GFH Partners (DIFC), GBCORP (Bahrain), and Infracorp (Bahrain). His accomplishments have been recognized through key accolades and awards. Notably, in 2022, he was named CEO of the Year – Financial Services by Arabian Business and ranked one of the Top 100 CEOs in the Middle East by Forbes. In 2020, Alrayes was honoured with the Banker of the Year title in the MEA Finance Awards, acknowledging his role in steering the group’s diversi cation strategy, which expanded GFH’s business lines and geographic reach while maintaining its resilience in the face of unprec- edented market conditions. Sharp focus, global reach Under Alrayes’ leadership, GFH Financial Group has gone from strength to strength achieving pivotal milestones along the way. The year 2022 was a landmark year on a number of fronts as the group continued to broaden its geographic reach and investor and shareholder base as well as further strengthening performance and founda- tions for future growth. During the year, GFH became the rst institution to be listed across four primary GCC exchanges (BHB, DFM, KSE, and ADX), demonstrating its expansive strategy. In 2022, the group also successfully placed over $1.2bn of investments in its portfolios, underscoring investor con dence and appetite for its unique opportunities. In line with its focus on value creation, it also continued to enhance results. For 2022, the group reported a net pro t FINANCE 7. HISHAM ALRAYES CEO and Board Member GFH FINANCIAL GROUParabianbusiness.com 17 100 MOST INSPIRING LEADERS attributable to shareholders of $90.25m, an increase of 7.2 percent over the previous year. The year also saw GFH signi cantly grow its global presence through a series of strategic investments, acqui- sitions and partnerships. It launched a new office in London, re ecting Alrayes’ vision to see GFH strengthen its reach across key international markets and in sectors globally that demonstrate solid fundamentals and leverage positive macroeconomic conditions. In line with this strat- egy, the group also seized the opportunity to further bolster its presence in the US market and the resilient healthcare sector, acquiring a majority stake in Big Sky Asset Manage- ment, a leading asset manager specialising in medical clin- ics and other healthcare-related real estate in the US. The transaction marked GFH’s third strategic acquisition of a well-established specialist asset manager, the rst of which was UK-based pan-European Roebuck Asset Manage- ment, which specialises in UK and European logistics and has a cumulative assets under management (AUM) of €2.6bn ($2.83bn) since its inception, the other was SQ Asset Manage- ment, a leading US-based living sector asset and property manager with an AUM of $1.1bn and with over 11,000 active beds currently under management across the US. This year has seen the momentum continue. To further support growth, the group launched GFH Partners, a fully- owned subsidiary dedicated to expanding its asset manage- ment capabilities with a particular focus on the real estate sector, where the group currently manages over $6bn of assets. Alrayes explains: “Leveraging our own reach, regu- latory and business set-up, as well as the access provided by our partners on the ground in multiple geographies, our aim is to continuously deliver a strong pipeline of oppor- tunities for our investors”. Diversi cation and agility in practice In its commitment to global expansion, GFH continues to accelerate strategic investments that align with its growth-oriented strategy. Under Alrayes’ leadership, GFH’s strength in diversification across strategically selected sectors and geographies has been a key success for the group. To drive its investments, GFH adopts a thematic sector approach, targeting resilient and defensive sectors within high-growth markets that boast strong fundamentals. The group leverages its successful track record and deep domain expertise in these sectors to make the most informed investment decisions for its clients. This entails a value-oriented approach and the potential for growth, repositioning, and performance improvement of acquired assets and businesses. Hands-on value creation from orig- ination to exit is at the heart of GFH’s investing playbook. A resilient roadmap for continued growth Alrayes’ leadership style has been instrumental in driving GFH’s success. Amidst the intense volatility that sent shockwaves through the investment landscape over the past several years, Alrayes has forged a resilient, data- driven roadmap to overcome challenges moving forward, including addressing the pressure from rising interest rates and the general uncertainty of the global economy. With a proven strategy that has steered GFH success- fully for over 20 years, Alrayes says: “GFH has successfully transformed these challenges into opportunities, focusing on sectors underpinned by robust fundamentals and posi- tioned for long-term growth, even amidst economic down- turns.” He argues that the strategy’s agility allows adap- tation to changing market conditions while maintaining a focus on diversi cation and growth opportunities, particu- larly in defensive sectors like technology, healthcare and logistics real estate. GFH’s on-the-ground approach, with o ces in Bahrain, Dubai, Riyadh, and now London, will also allow it to continue to unlock global opportunities and respond quickly to chang- ing conditions. The group’s roadmap and strategic deci- sion-making that have brought it to this point will continue to be fundamental tenets that drive its future success. GFH Financial Group's listing on the Abu Dhabi Securities Exchange (ADX) comes as GFH undergoes continued expansion and growth Our aim is to continuously deliver a strong pipeline of opportunities for our investors $9.76BN The total assets of Bahrain-based GFH Financial Group in 202218 September 2023 100 MOST INSPIRING LEADERS TECHNOLOGY Prior to his current position, Gaber held the role of the general manager and led VISA's operations in North Africa and other markets, including KSA, Egypt, Morocco, Kuwait, Oman, and Bahrain. He was responsible for the digital payments across numerous markets with a special focus on enabling digital commerce, rolling out nancial inclusion programmes, launching EMV acceptance, Contactless Payment tech- nologies and later digital wallets. Gaber started with the National Processing Company and exited as the head of Support & Implementation. He has over 21 years of expe- rience in the GCC and MENA regions and has led markets across 11 countries. Achievements in 2022 and 2023 Gaber reveals that the ENTERTAINER experienced a remarkable growth in their B2B business, marking a signi cant milestone in their progression. “Last year, we started an ambitious journey, aiming to enter the Egyptian market – our o cial launch will take place on 12th September 2023. We focused on re-building our team in KSA and strengthened our brand equity.” The ENTERTAINER has made some major changes in the company’s operational model in 2022, including an overhaul of 80 percent of the leadership team. He explains, “When I assumed the role of the CEO at the ENTERTAINER, there was 62 initiatives. Through a thoughtful and inclusive decision-making process, we have prioritised 12 initiatives. Our diligence paid o , as we achieved remarkable success.” Roadmap He adds, “We paid great attention to best working practices and sta empowerment, enabling our employees to work from elsewhere in the world for four weeks and addressed gender pay disparity through an ongoing payment equality exercise. Recognising the signi cance of mental health, we're partnering with an independent agency to provide a con - dential channel for individuals to seek support.” Another one of Gaber’s objectives involves a strategic shift in the overall approach of the company. “While we possess strengths in technology, marketing, engagement, and merchant relations, we want to focus on being a consumer-centric organ- isation,” he says. Merchants, B2C consumers and B2B partners are the heart of the business. With the new team and an evolved organisa- tional culture, Gaber’s third priority revolves around fostering synergies. “To achieve this, we’ve established a tandem between our Strategy and Programme Management O ce with an objec- tive to devise streamlined processes and refresh the modus operandi.” He adds, “It’s not the team's size that matters, but rather having the right individuals who can e ectively execute tasks. For instance, a team of ve exceptional employees can surpass the performance of a larger group of 10 that includes underper- formers. Embracing change and driving transformation demands not only courage and unwavering determination, but also underscores the necessity for consistently making di cult decisions.” Gaber strives to achieve strategic objectives as well as drive a favourable return on investment (ROI). “This encompasses both our nancial goals and the broader impact we intend to make in the industry.” 8. AHMED GABER CEO THE ENTERTAINERarabianbusiness.com 19 100 MOST INSPIRING LEADERS 9. DAVID GROVER 10. YASIR AL RUMAYYAN Group CEO ROSHN REAL ESTATE Governor PUBLIC INVESTMENT FUND (PIF) In his present position at ROSHN, a mixed-use community developer giga project powered by PIF, Grover is responsible for supervising all ROSHN operations in KSA. Before joining ROSHN, Grover served as the group board director at Mace Group in the UK. With a turnover exceeding $2.5bn, the rm employed 6,500 individuals and functioned through ve global hubs across 65 coun- tries. Grover also held the role of CEO of Mace Devel- opments. Upon joining the UK rm in 1992, he engaged in various crucial aspects of the business, from consul- tancy to construction and Bringing a wealth of experience spanning more than two decades within KSA’s pivotal financial institutions, Al Rumayyan commenced his journey at Saudi Hollandi Bank as the head of interna- tional brokerage from 1999 to 2004, followed by an appointment to the Capital Markets Authority (CMA) as the head of securities list- ings. Since 2017, he has occu- pied his current role at the PIF, playing a pivotal role in the acquisition of English football club Newcastle United, a $407m takeover that granted PIF an 80 percent ownership stake. Aligned with Vision 2030, development. He achieved notable milestones, includ- ing establishing and driving the growth of the firm’s development division and delivering multiple infra- structure and mixed-use projects. He expanded the rm’s project portfolio in his capacity as COO and subse- quently CEO, encompassing a hotel, an office project, student residential projects, and London residential schemes. Committed to attaining the Vision 2030 objective of achieving 70 percent home ownership in KSA, in March 2023, ROSHN announced their new real estate development in Riyadh featuring 2,000 housing units. Intending to become Riyadh’s second residential community, the Waraefa project is the third major development in KSA backed by the PIF, following the successful Sedra ag- ship project. The project will be erected in Al Janadriyyah district in eastern Riyadh, next succeeded by the launch of The Alfulwa project and will be provid- ing over 18,000 units. prominent PIF-owned giga-projects like NEOM and The Red Sea Development Co. have already inked over 800 local and international contracts exceeding $5.3bn by April 2022. Al Rumayyan spearheads all operational aspects of the sovereign wealth fund, a cornerstone of Saudi Arabia’s Vision 2030 and economic transforma- tion strategy. Holding in u- ential roles on the boards of prominent global entities, Al-Rumayyan chairs Saudi Aramco since September 2019 and leads the Decision Support Centre. An advisor to the General Secretariat of the Council of Ministers of Saudi Arabia, he holds board positions with the Saudi Industrial Development Fund, SoftBank Group Corp, and Uber Technologies. Backed by sustainability e orts, Saudi Aramco have established ambitious targets to attain net-zero Scope 1 and Scope 2 green- house gas emissions from their fully owned and oper- ated assets by 2050 which aligns with KSA’s goals of achieving net-zero emis- sions by 2060. REAL ESTATEINVESTMENTNext >