Al Majdiah Appoints Raed Al Naeem as CEO, Effective November 1
Al Naeem has spent nearly 28 years working across finance, banking and investment. He held senior corporate finance positions at Riyad Bank and Bank Albilad before moving into executive leadership. He later became CEO of Ayyan Investment Company, a role he held for more than six years.
His experience at Ayyan covered more than the day-to-day running of a business. He was involved in acquisitions, corporate governance and efforts to transform the company's operations. His work also spanned healthcare, industry and real estate.
One notable deal involved the acquisition of Al Ahsa and Al Salam hospitals in partnership with Dallah Healthcare. Al Naeem also oversaw investment in the Al Salam Hospital project, which was valued at SAR 1.2 billion.
He has held board positions at Al Ahsa Medical Services Company, Al Salam Medical Services Company and Twareat Medical Services Company. Al Naeem graduated in accounting from King Faisal University and has completed executive programmes in leadership, finance and corporate structuring.
Leadership change at Al Majdiah
Al Naeem takes over at a time when the company is pursuing development opportunities in Saudi Arabia. In September 2026, Al Majdiah signed a SAR 2.80 billion agreement with Knowledge Economic City and Capital Hill Financial for a mixed-use project in Madinah.
In comments following his appointment, Al Naeem said he wanted to build on the company's existing achievements and strengthen its position in real estate development. He also talked about the emergence of fresh opportunities for growth and fulfilling client requirements.
He succeeds Abdulsalam bin Abdulrahman Al Majed who had been the head of the company since November 2025. Al Majed leaves his position as acting CEO on November 1 but he will carry on working with the company as a member of the board and a managing director.
Al Naeem's appointment brings a leader with extensive financial and investment experience into the role. How that experience shapes Al Majdiah's development plans will become clearer as he begins his tenure.
Raed Al Naeem, appointed chief executive officer of Saudi real estate developer Al Majdiah.
