Al-Akaria Saudi Real Estate Company (SRECO), a publicly listed real estate developer on the Saudi stock exchange (Tadawul), has announced the appointment of Mamdouh Saud Al-Sharhan as the chief executive of SRECO with immediate effect. This appointment follows the resignation of the former CEO, Abdullah bin Ibrahim Saad Al-Ayadhi.
Al-Ayadhi held the position of CEO of SRECO for three years.
“The board of directors of SRECO would like to sincerely thank Al-Ayadhi for his loyal service, strategic oversight and contribution to the growth of the company and wishes him success in his future endeavours,” the company said in a press release.
“SRECO has a strong finance team, and Al-Sharhan has played a significant role in his previous role as chief financial officer in helping drive financial and operational improvements. I am confident that Al-Sharhan’s new role will continue to build on our achievements thus far toward the company’s transformation,” said Abdulrahman Al-Mofadhi, chairman of SRECO.
“On behalf of the board of directors and management team, I would like to thank Al-Ayadhi for his dedication and valuable contribution,” he concluded.
In addition to his role at SRECO, Al-Sharhan serves on the board of the Real Estate Financing and Investment Committee of the Riyadh Chamber of Commerce and Industry.
Al-Sharhan holds a master’s degree in quantitative finance from the George Washington University in the US, a master’s degree in banking administration from the Institute of Public Administration in Riyadh and a bachelor’s degree in accounting from King Saud University in Riyadh.