PIF announced the appointment of Saad Alkroud as Head of the Local Real Estate Investment Division. Alkroud has served as Chief of Staff since 2021.
This move follows the appointment of Eng. Aiman AlMudaifer as Managing Director and Chief Executive Officer (CEO) of NEOM. Maram Al Johani has been assigned as Acting Chief of Staff and appointed as Secretary General to the PIF Board of Directors.
In his new role, Alkroud will be responsible for developing PIF’s local real estate and infrastructure investment portfolio, which includes the giga-projects and several other strategic developments.
Alkroud joined PIF in 2016 as Head of Stakeholder Management, overseeing PIF Board and Committees affairs and international relations, as well as managing relationships with Saudi entities to deliver strategic initiatives and objectives. In 2021, he was appointed as Chief of Staff, and in 2022 he took on additional responsibilities as Secretary General to the PIF Board of Directors. In that position, he supervised corporate strategy and business plans, the PIF Project Management Office, including the establishment of new companies, and the affairs of PIF’s portfolio companies, stakeholders and committees. He also serves on the boards of several PIF companies.
AlMudaifer has led the Local Real Estate Investment Division since 2018, helping to drive significant growth and transformation. As of 2023, the portfolio included more than 35 real estate companies, with investments in Saudi real estate and infrastructure continuing to deliver sustainable returns. The advancement of and investment in landmark developments and infrastructure projects have helped position PIF at the forefront of Saudi Arabia’s economic diversification, including the creation of tourism and cultural destinations. AlMudaifer has served as the Acting CEO of NEOM since November 2024 and is a board member of several PIF portfolio companies.
Al Johani, as Acting Chief of Staff and as Secretary General to the PIF Board of Directors, will lead organization-wide strategic planning, data and committees governance, and the project management office. In addition, she will oversee portfolio company affairs and manage international and local stakeholders. Al Johani joined PIF in 2017 after working for PricewaterhouseCoopers. She brings extensive experience to both roles, having served as PIF’s Head of Data and Committees Governance and Advisory Department since 2021.
These appointments reinforce PIF’s strong leadership foundation and support the delivery of its unique mandate and long-term strategy, within the organization and across its portfolio of more than 220 companies, to create opportunities for the global economy and drive the economic transformation of Saudi Arabia.