Aiman Al-Mudaifer, Saudi Public Investment Fund executive

Aiman Al-Mudaifer
Short Url
Updated 15 September 2020

Aiman Al-Mudaifer, Saudi Public Investment Fund executive

Aiman Al-Mudaifer joined the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, in 2018 as head of the Local Real Estate Investments Division, which is one of PIF’s three investment divisions that oversees two of PIF’s six pools of investment.
He is responsible for leading the fund’s local real estate investment strategy, which plays a key role in the development of land, housing, and tourism projects that are transforming the Kingdom’s social and economic landscape. These include the giga projects – Qiddiya, The Red Sea, and NEOM.
Al-Mudaifer oversees investments and projects designed to develop world-class urban communities, enhancing the quality of life for Saudi citizens. In addition, to developing and promoting Saudi Arabia as a tourism destination and improving the Hajj and Umrah experience for both local and international visitors
PIF aims to capitalize on these investments to bring best-in-class development expertise and drive the growth of the local supply chain for construction while reinforcing strategic partnerships with local and foreign investors.
Consistent with PIF’s goal to create new sectors, companies, and jobs in the Kingdom, over 15 of PIF’s Local Real Estate Investments’ projects have hospitality components. These include plans to develop over 300 hotels that include 135,000 hotel keys by 2030, which will create over one million jobs in tourism, of which 500,000 are in hospitality.
Al-Mudaifer serves as a member of the PIF Management Committee and the Management Investment Committee, where his visionary leadership and deep knowledge of the real estate and infrastructure projects landscape have proved invaluable assets in the committee’s drive to launch and develop new sectors as mandated in PIF’s Program to fulfill the ambitious goals of Vision 2030. These objectives will be achieved through the development of new companies and ecosystems, as well as large-scale infrastructure and real estate projects.
During his tenure, PIF has successfully launched several initiatives aimed to support the Kingdom’s economic transformation efforts and promote investments in several sectors, while achieving high returns over the medium and long terms maximizing the value of underutilized assets and generating economic, social, and financial returns. Through these endeavors, PIF acts as an incubator to new investments while supporting organizations in developing their institutional capabilities and meeting their business objectives. As part of his approach, Al-Mudaifer places a strong emphasis on encouraging synergies between real estate projects and other investments to ensure these complement each other and help to drive cost reductions through economies of scale and shared services.
Al-Mudaifer began his career as a credit consultant at the Saudi Industrial Development Fund. Prior to joining PIF, he served in several key positions in both the public and private sectors including as CEO of Shomoul Holding Co., CEO of Andalus Co., and Licensing Department Official Manager of the Investigations Department at the Capital Market Authority. In addition to his role at PIF, he is the chairman of Rua Almadinah Holding Co. and Saudi Real Estate Co.
Al-Mudaifer obtained a bachelor’s degree in systems engineering at King Fahd University of Petroleum and Minerals and is a graduate of the Cooperation Program between Chase Manhattan Bank and the Saudi Industrial Development Fund.
 


Saudi Arabia’s Alkhobar becomes international role model for business continuity

Sultan Al-Zaidi (L) and Fahad Al-Jubeir.
Updated 21 September 2020

Saudi Arabia’s Alkhobar becomes international role model for business continuity

  • Alkhobar has pushed for a paperless municipality and emphasized the introduction of online services for residents

JEDDAH: Alkhobar municipality, along with Europe’s largest industrial manufacturing company Siemens, has been hailed as a role model for management excellence and business continuity.
The municipality has been awarded international certification for its excellence in managing crises and risks under difficult circumstances, in recognition of its administrative achievements during the COVID-19 pandemic.
Quality Austria (QA) awarded Alkhobar Municipality and Siemens with ISO 22301 and ISO 9001 certificates, which are concerned with business continuity management, especially during the pandemic.
ISO (International Organization for Standardization) is an independent and nongovernmental body. Its standards are internationally agreed by experts and are seen as the best way of doing something.
Alkhobar has pushed for a paperless municipality and emphasized the introduction of online services for residents.
Its mayor, Sultan bin Hamid Al-Zaidi, said that the municipality’s ISO achievement was in line with achieving the goals of the Eastern Province municipality. He added that the aim was to make Alkhobar a distinguished city, like other places in the province.
The Mayor of the Eastern Province, Fahad bin Mohammed Al-Jubeir, said that municipalities were keen to implement the most advanced administrative systems and provide the best services to beneficiaries.
“This comes in line with the objectives of municipal transformation, part of the National Transformation Program 2020 of the Kingdom’s Vision 2030 reform plan which states that the Kingdom, with its outputs and services, should provide an international role model of quality and mastery, and raise the level of services provided by services and economic development agencies and enterprises,” Al-Jubeir told Arab News.

HIGHLIGHT

Business continuity was primarily done through strategic planning and taking into account the different local factors and needs of provinces and municipalities.

He added that the municipality had launched initiatives and programs seeking to make the Eastern Province and its governorates pioneers in administrative and service qualities, as well as improving public services.
According to QA’s regional manager, Dr. Mohamed Hassan, business continuity was primarily done through strategic planning and taking into account the different local factors and needs of provinces and municipalities.
“These instructions are then transformed into applicable programs and strategies at the amana (provincial government) level,” he wrote in an article. “Since the Eastern Province is, in this respect, the leading province in the Kingdom, the guidelines are finalized in consultation with the EP’s mayor, Fahad Al-Jubeir.”
The article gave examples of Alkhobar’s strategic emergency plans and said it had made arrangements with companies such as Al-Yamama for the prevention of damage from flash floods or storms.
It added that other public contractors, such as Nabatat, ensured that green spaces and parks in the city remained relaxing destinations for people, even on exceptionally hot summer days.
“A successful example of service digitization is the Balady software, which makes all municipality services available to citizens online. Moreover, the Balagat software offers a service in which complaints and suggestions from citizens can be reported and followed up online,” the article said. “If a complaint is not solved within 24 hours, it is automatically forwarded to the mayor of the Eastern Province, Al-Jubeir.”
The ministry’s foresight in initiating plans and preparations, the online software systems used and the high-quality standards in the municipality all helped in increasing the effectiveness of the business continuity management system.