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.
Aiman Al-Mudaifer, Saudi Public Investment Fund executive
https://arab.news/9fs2q
Aiman Al-Mudaifer, Saudi Public Investment Fund executive
Saudi authorities foil attempt to smuggle 27.6 kg of cocaine
RIYADH: Saudi Arabia’s Zakat, Tax and Customs Authority has thwarted an attempt to smuggle into the Kingdom 27.6 kg of cocaine found hidden inside the air conditioner of a shipment of potatoes.
Authorities at Jeddah Islamic Port arrested two individuals who were set to receive the shipment.
In a statement ZATCA said it is “committed to stiffening customs control of the Kingdom’s imports and exports, stressing that it will stay vigilant to thwart smuggling attempts and ensure the protection of the society.”
Members of the public are encouraged to report any drug-related crimes by calling 1910, via e-mail [email protected], or through the international number 00966114208417.
Saudi ministries sign deal to achieve goals in fields of culture, human resources
- Move aligns with aims of Saudi Vision 2030
RIYADH: Saudi Arabia’s Minister of Culture Prince Badr bin Abdullah bin Farhan, and the Minister of Human Resources and Social Development Ahmed Al-Rajhi signed a cooperation agreement on Monday aimed at achieving their respective goals.
The agreement will also work to develop human capital in the culture and arts sectors.
It is hoped the partnership will lead to the development of local cultural identity; the growth in local economic interaction; an increase in job opportunities and social development; and the creation of a legislative and regulatory environment that encourages investment and innovation in the cultural sector.
It is expected this will lead to increased economic activity and new job opportunities, targets which form part of Saudi Vision 2030, the Saudi Press Agency reported.
The ministries will study ways to encourage and motivate the participation of the private sector in developing the culture and arts sectors as part of the agreement.
Inaugural Red Sea Fashion Week to highlight Saudi talent to a global audience, official says
- ‘Initiative is a vibrant testament to our dedication to cultivating local talent,’ says Fashion Commission’s CEO
RIYADH: The head of the Saudi Fashion Commission said on Monday that the inaugural Red Sea Fashion Week later this month will highlight the talent in the Kingdom to a global audience, the Saudi Press Agency reported.
Burak Cakmak, the CEO of the commission, said: “With Red Sea Fashion Week we set out to forge a distinctive and dynamic platform that not only highlights the vast creativity and skill within Saudi Arabia but also elevates our nation as a key player on the global fashion stage.
“This initiative is a vibrant testament to our dedication to cultivating local talent and integrating them into the international arena, resonating deeply with the Kingdom’s Vision 2030 goals of enriching our cultural fabric and broadening our economic horizons.”
The first edition of Red Sea Fashion Week, the latest initiative from the Saudi Fashion Commission to promote the Kingdom’s fashion industry, begins on May 16 at the new St. Regis Red Sea Resort. It runs until May 18.
A fashion show will be held on the first day, followed by two days of side events and further shows featuring a collection of luxury fashion, jewelry, ready-to-wear items, and resort wear collections from Saudi and international designers.
Saudi Arabia hosted its first fashion week in 2023 in Riyadh, and hosted a pop-up event in Milan last year on the sidelines of the city’s fashion week.
Saudi crown prince offers condolences to UAE president after death of uncle
- Sheikh Mohamed thanked the crown prince and expressed his condolences over the death of Saudi poet Prince Badr bin Abdul Mohsen
RIYADH: Saudi Crown Prince Mohammed bin Salman expressed his condolences to the President of the UAE Sheikh Mohamed bin Zayed on Monday after the recent passing of his uncle Sheikh Tahnoon bin Mohammed Al-Nahyan.
During a phone call, the crown prince prayed that God forgive the deceased who was the representative of the Abu Dhabi Ruler in Al-Ain Region.
Sheikh Mohamed thanked the crown prince and expressed his condolences over the death of Saudi poet and national literary icon Prince Badr bin Abdul Mohsen.
Saudi justice minister opens International Conference on Judicial Training
- Experts from around world will attend 2-day event in Riyadh
RIYADH: The Saudi justice minister on Monday opened the International Conference on Judicial Training in Riyadh.
Walid Al-Samaani made the opening speech at the two-day event, which has attracted more than 600 experts and 45 speakers from around the world.
He highlighted the strides made by the Kingdom in the judiciary sector since the launch of its Vision 2030 initiative.
He also outlined the ministry’s commitment to improving the efficiency of the judiciary and “pivotal role of training, qualification and legal knowledge management in achieving justice.”
The Judicial Training Center was dedicated to improving the skills of the Kingdom’s judicial and legal personnel through collaborations with its partners and had been instrumental in qualifying judges and training lawyers, judicial assistants and notaries, the minister said.
Al-Samaani also commented on the transformation of the justice system, driven by Crown Prince Mohammed bin Salman, which has focused on fortifying legal principles, embedding values of transparency and ensuring legal certainty.
A key area for development was the digital transformation and integration of artificial intelligence, which the ministry was advancing to enhance judicial quality, he said.
