Saudi Arabia replaces CEO of futuristic mega-city NEOM

Saudi Arabia announced replacing the chief executive of its futuristic mega-city NEOM on Tuesday.

"Following the departure of Nadhmi al-Nasr", who had served as the project's chief executive since 2018, "Aiman al-Mudaifer has been appointed as interim CEO", NEOM said in a statement.

The company said that Mudaifer brought with him a "deep and strategic understanding of NEOM" after serving as head of a property arm of the Saudi sovereign wealth fund since 2018.

NEOM was announced in October 2017 as a futuristic megacity in northwestern Saudi Arabia, which is meant to transform urban living with advanced technology, environmental sustainability, and innovative design, as part of Saudi Arabia's Vision 2030 economic diversification plan.

NEOM is intended to reduce the country’s dependence on oil by creating new sectors and generating income from tourism, technology, and sustainable industries.

Unveiling The Line in 2022, Crown Prince Mohammed bin Salman said its population would exceed one million by 2030 before climbing to nine million by 2045.

Work on NEOM is progressing alongside other major development projects launched as part of Vision 2030, Prince Mohammed's bid to position the world's biggest crude exporter for an eventual post-oil future.