Emaar the Economic City has appointed Abdulaziz Ibrahim Alnowaiser as new CEO effective from 1 May 2024.

He replaces Cyril Piaia, who requested his contract not be renewed, according to a company filing on Riyadh's Tadawul exchange on Wednesday.

Alnowaiser has more than two decades of work experience, which included his most recent role as the CEO of Tahakom Investments Co., a wholly owned by Saudi sovereign wealth fund Public Investment Fund (PIF).

The fund also has a 25% holding in Emaar the Economic City.

(Writing by Brinda Darasha; editing by Seban Scaria)