Saudi Gazette report
RIYADH — The Public Investment Fund (PIF) has announced key leadership appointments following the transition of Eng. Aiman AlMudaifer to Managing Director and Chief Executive Officer of NEOM.
These appointments are part of PIF’s continued efforts to strengthen its leadership foundation and drive forward its strategic mandate.
Saad Alkroud has been named Head of the Local Real Estate Investment Division, taking over the portfolio previously overseen by AlMudaifer.
Alkroud has served as Chief of Staff at PIF since 2021 and brings extensive experience in strategic planning and stakeholder management.
In his new role, he will be responsible for developing and expanding PIF’s real estate and infrastructure investment portfolio, which includes Saudi Arabia’s landmark giga-projects and other strategic developments.
Alkroud joined PIF in 2016 as Head of Stakeholder Management, where he oversaw board and committee affairs and managed relationships with both international and local entities. He was appointed Chief of Staff in 2021 and took on additional duties as Secretary General to the PIF Board of Directors in 2022. In these roles, he supervised the fund’s corporate strategy, project management office, and the affairs of PIF’s portfolio companies. Alkroud also holds board memberships across several PIF-owned firms.
AlMudaifer, who had led the Local Real Estate Investment Division since 2018, played a central role in the division’s growth and transformation. By 2023, the division managed investments in over 35 real estate companies and significantly contributed to Saudi Arabia’s economic diversification, including in tourism and cultural infrastructure. AlMudaifer has served as Acting CEO of NEOM since November 2024.
In a related move, Maram Al Johani has been appointed Acting Chief of Staff and Secretary General to the PIF Board of Directors. Al Johani will lead organization-wide strategic planning, data and committee governance, and the project management office. She will also oversee affairs related to portfolio companies and manage engagement with international and domestic stakeholders.
Al Johani joined PIF in 2017 following a tenure at PricewaterhouseCoopers. Since 2021, she has served as Head of Data and Committees Governance and Advisory, bringing a strong track record in strategic operations to her new position.
