Riyadh—The King Abdullah Financial District Development and Management Company (KAFD DMC), the manager of Riyadh’s premier business and lifestyle destination, today announced the appointment of Saad Abdulaziz Alkroud as Chairman of the Board of Directors with immediate effect. Saad Abdulaziz Alkroud brings a wealth of sectoral experience in Saudi Arabia.

Alkroud holds extensive leadership experience in real estate investment and development across Saudi Arabia to the role. He currently serves as Head of Local Real Estate Investment Division at PIF, where he is responsible for developing local real estate and infrastructure investment portfolio, which includes the giga-projects, alongside diversified assets spanning hospitality, retail, and leisure sectors. AlKroud held several senior positions, including Chief of Staff and Secretary General to PIF's Board of Directors, playing a crucial role in shaping the Kingdom's strategic agenda and economic transformation.

Saad Abdulaziz Alkroud, Chairman of the Board at KAFD DMC, said: “I am honored to assume the chairmanship of KAFD DMC during this defining period for the district. KAFD has established itself as a model for urban development that brings together business, community, and innovation. Indeed, the district's success to date demonstrates how well-planned developments can contribute to Saudi Arabia's economic transformation and create lasting value for the businesses and communities we serve.

I look forward to working closely with the management team and the stakeholders to build on this strong foundation and support KAFD's continued growth.”

With Alkroud's strategic direction and board oversight, KAFD DMC is well-positioned to further capitalize on emerging market opportunities and strengthen its role as the region's flagship mixed-use district.  KAFD's continued evolution as a world-class business and lifestyle destination will further enhance Saudi Arabia's position as a premier investment hub, advancing its economic transformation in line with Vision 2030.

About KAFD

Situated in the Saudi capital, Riyadh, KAFD is an iconic destination that merges the worlds of business and lifestyle in a digitally integrated and sustainable ecosystem, transforming the way contemporary communities live, work, and play. The destination is owned and managed by King Abdullah Financial District Development and Management Company (KAFD DMC), which was established in 2018 and is a PIF Company.

With a vision to build a dynamic city of tomorrow, the Kingdom’s first vertical city solution, spanning 1.6 million square meters with 95 buildings designed by 25 world-leading architectural firms, has not only shaped the skyline of Riyadh but also transformed the city's economic landscape and redefined the essence of urban living. It is the world’s largest LEED platinum-certified business and lifestyle district, epitomizing Saudi Arabia’s vision for economic diversification, quality of life, and sustainable development.  

For further details about KAFD, please visit www.kafd.sa

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