Awqaf Authority replaces representative on Jabal Omar’s board

Jabal Omar Development Co.’s board of directors approved to replace the representative of the General Authority for Awqaf (GAA) by Hesham Al-Zaid (independent member), effective from May 18.

Al-Zaid will replace Rayan Alrasheed (independent member) upon request of the GAA, Jabal Omar said in a statement to Tadawul.

Al-Zaid currently serves as CEO of Real Estate Investment in Awqaf Investment - the investment arm of the GAA. He worked earlier as the manager of real estate funds in Alinma Investment Co., and the head transaction advisory department at KPMG Saudi Arabia.

He is a board member in several companies and investment funds. He holds a bachelor's degree with honour in finance from King Fahd University of Petroleum and Minerals. He also holds a certificate of the International Certified Valuation Specialist. Al-Zaid attended a number of leadership courses at INSEAD, Cambridge, and others.

The appointment will be submitted to the upcoming general assembly meeting for approval.