Giga-projects Aiman Al Mudaifer named permanent CEO of Neom By Edmund Bower April 23, 2025, 1:40 PM Neom/Unsplash Sandstone rock formations rise above the Hisma desert in Neom Acting boss confirmed in role Has worked at PIF since 2018 Neom has yet to comment Neom is to appoint Aiman Al Mudaifer as its permanent chief executive, more than five months after he took on the role of acting CEO. Al Mudaifer has worked for the Public Investment Fund, the $925 billion sovereign wealth fund backing Neom, since 2018. He took over the CEO’s post at Neom, one of the country’s five main giga-projects, after the departure of long-time chief Nadhmi Al Nasr last November. Al Mudaifer, who has an education in petroleum engineering and a background in finance and real estate, has kept a low media profile in his months as acting CEO. Neom has yet to comment on the appointment, which was reported by Reuters on Tuesday afternoon. Al Nasr left the job after a string of negative headlines about delays and worker mistreatment. In the statement announcing his departure, Neom said the $500 billion giga-project was entering “a new phase of delivery”. Red Sea giga-project launches new island despite PIF budget cuts Global trade war prompts Gulf construction reassessment PIF spending cuts slow giga-projects and trigger layoffs Budgets on Neom have reportedly been scaled back since then, with a PIF meeting in December reducing funding for projects that are deemed not to be a top priority. The fall in oil prices and dividends from Saudi Aramco have contributed to budgetary concerns. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
