Khalid Al-Amoudi, CEO of the Saudi Real Estate Development Fund

Khalid Al-Amoudi
Updated 12 June 2019
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Khalid Al-Amoudi, CEO of the Saudi Real Estate Development Fund

  • Al-Amoudi has also been the head of real estate finance and senior vice president of the National Commercial Bank, AlahliNCB
  • Al-Amoudi obtained a bachelor’s degree in industrial management from King Fahd University of Petroleum and Minerals, in Dhahran

Khalid Al-Amoudi has been the CEO of the Saudi Real Estate Development Fund (REDF) since July 2017.

For the past five years, he has also been the head of real estate finance and senior vice president of the National Commercial Bank, AlahliNCB.

His responsibilities have included leading the NCB market share, orchestrating customer-experience initiatives, and managing mortgage business.

Al-Amoudi has held various positions at the NCB over a period of more than 20 years, working in branch and segment management during his first seven years with the organization.

Between 2007 and 2013, he held the role of vice president for mortgage sales and distribution and led NCB’s mortgage customer outreach program between 2007 and 2011.

He was a product manager in Samba Financial Group’s cash management department between 2004 and 2005.

Al-Amoudi obtained a bachelor’s degree in industrial management from King Fahd University of Petroleum and Minerals, in Dhahran. He also attended a strategic thinking and management for competitive advantage program at the University of Pennsylvania, in the US.

The REDF recently deposited SR863.8 million in the accounts of Sakani housing scheme beneficiaries, SR140.3 million of which was in support of subsidized mortgage contracts and SR723.5 million for recipients of the military support initiative.

Al-Amoudi said that the REDF would continue to provide its services to all registered beneficiaries in line with the Sakani housing program’s goal of increasing the proportion of Saudi homeowners to 60 percent by 2020 and 70 percent in 2030.


Saudi sources deny ‘unsubstantiated’ reports of permitting alcohol

Updated 16 June 2019
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Saudi sources deny ‘unsubstantiated’ reports of permitting alcohol

  • “The leadership has made it clear from day one; it is simply not happening,”SCTH source tells Arab News
  • The SCTH is responsible for licensing and rating hotels and restaurants

RIYADH: Saudi Arabia has no plans to allow the sale or public consumption of alcohol, a senior government source has told Arab News.

The official with access to relevant decision-makers categorically denied “unsubstantiated” media reports in some international and regional news outlets.

“If you read the fake news, you will notice it is all based on hearsay and tweets by accounts known to have a questionable agenda when talking about the Kingdom,” he said.

“As the country moves forward with its reform plans, we expect much speculation and attempts by critics to hold us back. And while people are allowed to speculate and criticize, their speculation should not be treated as the truth.”

A second source at the Saudi Commission for Tourism and National Heritage (SCTH) also denied such reports. “The leadership has made it clear from day one; it is simply not happening,” he told Arab News. “I have not heard of any plans to allow alcohol in major cities, free zones or new projects.”

The SCTH is responsible for licensing and rating hotels and restaurants. Any plans for the sale or consumption of alcohol would have to go through the commission for implementation. 

Saudi Arabia has witnessed substantial social reforms over the past three years, such as the curbing of the previously unchecked power of the religious police, reopening cinemas and allowing women to drive.

There has also been a major shift on previously prohibited public entertainment and gender mixing. International artists including Mariah Carey, Yanni, Andrea Bocelli, Enrique Iglesias and Black Eyed Peas have all performed.

Tourism projects have included pop-up versions of international restaurants such as Signor Sassi, Nusr-Et and Nobu. None has served alcohol.

“Officials have repeatedly said all changes were and will always be in line with Islamic teachings and traditions,” the senior source told Arab News.