Saudi Arabia’s King Salman bin Abdul Aziz Al Saud has appointed Fahd Abdulmohsan Al-Rasheed as President of the Royal Commission for Riyadh City (RCRC), following his appointment in 2018 as Advisor at the Royal Court.
Al-Rasheed’s career has featured various leadership roles in key Saudi public and private sector organisations.
From January 2008 to September 2018, he served as Chief Executive Officer and Board member of Emaar the Economic City, the publicly listed developer of the King Abdullah Economic City (KAEC).
KAEC is not only the first publicly listed greenfield city in the world, but is also considered as one of the largest private sector-led projects globally. Located on the Red Sea coast of Saudi Arabia and covering 181 sq km, it contains advanced urban and environmental sustainability features.
During his tenure at KAEC, Al-Rasheed spearheaded the development of King Abdullah Port, the first private port in the region and one of the world’s 100 largest port facilities. Over 120 local and international companies established a corporate or industrial base in KAEC, making it a leading regional center for logistic and industrial services. Concurrently, Al-Rasheed led the development of multiple residential, utility and recreational projects to make the Economic City an attractive, integrated tourism and residential destination.
Previously, Al-Rasheed served as CFO and Deputy Governor at the Saudi Arabian General Investment Authority (Sagia) and worked at Saudi Aramco, where he led several corporate finance initiatives.
In addition to his new position as RCRC President, Fahd Al-Rasheed will continue his roles as:
• Vice Chairman of the Board of Trustees of the Prince Mohammed bin Salman College of Business and Entrepreneurship – the first of its kind in the Kingdom – which aims to be an incubator and trainer of business entrepreneurs and future leaders across key sectors (governmental, private sector and civil community foundations). MiSK Foundation, Babson International College and Lockheed Martin Corporation are amongst the college’s founders;
• Founder and Chairman of the non-profit Red Sea Foundation, based in Geneva, which promotes trade across the Red Sea region;
• Board Member of the New Cities Foundation (a non-profit foundation based in Geneva);
• Board Member of Emaar Economic City; King Abdullah Port; and the Diplomatic Quarters Authority in Riyadh.
Al-Rasheed was honoured as a Young Global Leader by the World Economic Forum in 2011.
He holds a bachelor’s degree in Business Administration from Washington University in St. Louis, US, and an MBA from Stanford Business School.
He graduated from the Advanced Management Program in Real Estate Development at the Harvard Graduate School of Design.
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).