Jeddah, Makkah, Saudi Arabia
Seasoned finance, investment, and institutional transformation executive with 25+ years across government mandates, Listed companies, private platforms, real estate, hospitality, healthcare, aviation infrastructure, and capital markets. My work has focused on one core theme: building institutions and investment platforms that can attract capital, withstand scrutiny, and execute at scale. Currently Group CFO at Ithraa Hospitality Holding, where I led a conservative financial reset, identified SAR 50M+ in cost reductions, rebuilt core finance capabilities across AP, FP&A, and Treasury, and led the Group’s IPO-readiness program for a potential Market listing. Previously at the Royal Commission for Makkah City and Holy Sites, I led and contributed to major investment, real estate, and infrastructure mandates, including the citywide investment strategy for 25 informal settlements covering 12M+ sqm of land and 22M+ sqm of developable floor area, with PIF as strategic partner, Foster + Partners as masterplanning consultant, and BCG as strategy advisor. We produced a SAR 330B+ execution plan, and selected components are moving into execution. I also originated SAR 50B+ in opportunities across eight districts, contributed to the design of a government-owned development vehicle for Makkah, and served as project lead for a major aviation infrastructure initiative. Led the Adahi Foundation transformation, supported by Roland Berger, with SAR 5.2B CAPEX, SAR 44.2B projected GDP impact, and 8.7K year-round jobs by 2040, and other strategic projects in aviation and multiple economic sectors. At Jabal Omar Development Company, led Phase 4 asset optimization across a 1,800-room, seven-tower hospitality cluster. developed the Sharia-compliant Phase 4 Timeshare pilot business case, projecting SAR 357M upfront cash unlock and ~50% debt prepayment under base case. Led Phase 7 development and capital formation through SAR 13B in institutional LOIs and led the corporate strategy refresh. At Wadi Jeddah Company. Led a seven-pillar healthcare and life sciences platform covering a SAR 500M teaching hospital, operational Cyclotron Center, clinical trials company, HIS company, postgraduate private university, and pharmaceutical M&A. Previously served seven years as Group CFO, Deputy CEO, and Partner at United Spectrums, a real estate holding platform with five Ascott-operated properties and Ascott’s first Kingdom entry. Also led a six-month liquidity turnaround for an STC joint venture during COVID-19.
Group CFO of a five-entity Hajj & Umrah holding company spanning pilgrim operations, Umrah services, real estate development, and catering. Accountable for liquidity, cost discipline, banking, governance, controls, and consolidated financial performance. Mandate: stabilize the finance platform, reset the cost base, strengthen governance, and prepare the Group for institutional scrutiny, including a potential Main Market listing mandate. Key impact: •Delivered SAR 50M+ in identified cost reductions within the first months through a conservative budget reset, subsidiary-level challenge sessions, and contract-by-contract review of legacy spending. •Secured SAR 1M in additional post-signature savings on a major contract through direct negotiation and disciplined counterparty engagement. •Repositioned Finance as the Group’s first-line commercial review function, requiring finance review and sign-off before contract execution, while reinforcing compliance and governance authority across subsidiaries. •Rebuilt the Group Finance operating model across AP stabilization, FP&A establishment from zero, Treasury restructuring, and consolidated reporting. •Strengthening execution capacity by recruiting three senior finance managers and support staff across critical finance functions. •Led the finance workstream for the Group’s Tadawul Main Market listing mandate, covering listing-grade reporting, controls uplift, consolidation integrity, and Audit Committee governance. •Lead Microsoft Dynamics 365 implementation across five subsidiaries, standardizing chart of accounts, approval workflows, automated reporting, and consolidation logic. •Direct the SAR 800M Hajj 1447H disbursement plan across airlines, government obligations, and priority service providers under a controlled payment schedule. •Centralized the full finance function under the Group CFO, with direct ownership of cash management, treasury controls, month-end close, and group consolidation.
Executive Director for Investment at one of Saudi Arabia’s largest Tadawul-listed mixed-use real estate developers. Mandate covered asset monetization, institutional capital origination, hospitality optimization, corporate strategy refresh, and master plan integration for high-value assets adjacent to the Holy Mosque. Mandate: unlock value from existing hospitality assets, originate institutional capital for future development phases, and reposition the company’s investment agenda around executable, investor-ready opportunities. Key impact: •Led Phase 4 asset optimization for a 1,800-room, seven-tower hospitality cluster with SAR 6B+ asset base, assessing sell, operate, and lease scenarios to define the highest-return business model. Analysis was completed and adopted before departure. •Secured SAR 13B in signed LOIs from three major institutional investors for Phase 7, a mixed-use development adjacent to the Holy Mosque. Scope covered master plan design, hotel brand integration, and institutional investor positioning. •Authored the Sharia-compliant Phase 4 Timeshare pilot business case under a 25-year Ijarah lease model, projecting SAR 357M upfront cash unlock, ~50% project debt prepayment, and off-peak occupancy uplift from ~50% to ~80% under base case. •Led the corporate strategy refresh, aligning investment priorities, capital formation, and master plan integration across Phases 4 and 7. •Led the retail and mall master plan repositioning workstream in collaboration with the Royal Commission for Makkah City team, with final alignment pending at departure.
Continued as Executive Director through program transition and handover. Sustained governance, delivery discipline, and stakeholder relationships across the portfolio.
CFO of a customer-experience joint venture between Saudi Telecom Company (STC) and a United States partner. Appointed during COVID-19 to stabilize finance and deliver a rapid turnaround. Remit included direct oversight of the Legal department. Key deliveries: - Delivered a six-month financial turnaround: 50% liquidity lift, with positive cash flow held through a 30% Q2 2020 revenue contraction. - Ran full Oracle ERP go-live. Cut month-end close time by 50%. - Rebuilt the accounts receivable collection process. Reduced AR collection cycle by 30%. - Upgraded internal financial and legal controls to STC Group governance standards. - Developed and presented an acquisition and consolidation proposal subsequently adopted by STC as the acquirer. Departed on selection for the Royal Commission Makkah mandate.