Mansour bin Madi was recently appointed chief executive officer and deputy chairman of the board of the Real Estate Development Fund (REDF), following its transformation into an independent, financially sustainable organization, with capital totaling SR190 billion ($50 billion).
Bin Madi is the chairman of the investment committee and a board member of the National Housing Co.
Prior to REDF’s transformation, he acted as its general director from October 2019.
Driven by a solid background in finance and leadership, Bin Madi leads the highly strategic government entity in enabling Saudi Arabia’s real estate industry, namely by integrating Ministry of Housing initiatives and programs into the financial sector to achieve one of the most important strategic goals of Saudi Vision 2030 related to housing ownership and the growth of the real estate market.
Bin Madi also launched four creative financial solutions, including subsidized loans with lowered mortgage interest rates, that served more than 90 percent of the mortgages in Saudi Arabia processed by REDF.
Prior to being appointed to REDF’s leadership, Bin Madi spent 30 years with SAMBA Financial Group, ultimately as an assistant general manager within the operations and technology group, where he guided large teams to implement the organization’s strategic goals.
During his time there, he also held leadership positions in corporate banking, treasury and IT operations, banking operations, cash management, domestic and international payments (such as SARIE and SWIFT), international trade products and financial risk management. Bin Madi graduated from King Saud University’s College of Computer Science and Information Systems in Riyadh.