Key Takeaways
- • Leadership Transition: Saad Alkroud, who served as Chief of Staff to PIF's Board of Directors since 2021, has been appointed Head of the Local Real Estate Investment Division, marking a strategic repositioning within the fund's leadership structure.
- • New Chief of Staff: Maram Al Johani has been appointed Acting Chief of Staff and Secretary General to PIF's Board, taking over responsibilities previously held by Alkroud.
- • Real Estate Focus: In his new role, Alkroud will oversee the development of PIF's portfolio in the real estate and infrastructure sector within Saudi Arabia, reflecting the fund's continued emphasis on domestic investment opportunities.
- • Tenure and Experience: Alkroud joined PIF in 2016 and has played a pivotal role in the organization's strategic development over nearly a decade, bringing substantial institutional knowledge to his new divisional leadership position.
- • Organizational Strengthening: These appointments represent PIF's effort to strengthen its leadership structure and enhance governance within key investment divisions as the fund continues to expand its domestic real estate and infrastructure mandate.
Summary
The Public Investment Fund (PIF) announced on May 15, 2025, the appointment of Saad Alkroud as Head of the Local Real Estate Investment Division, with Maram Al Johani assuming the role of Acting Chief of Staff and Secretary General to the Board. This leadership restructuring marks a significant transition within PIF's executive hierarchy and reflects the organization's strategic prioritization of real estate and infrastructure investments within the Kingdom.
Alkroud, who has been with PIF since 2016, previously served as Chief of Staff and Secretary General to PIF's Board of Directors—a position he held since 2021. His nine-year tenure at the fund positions him as an experienced leader with deep institutional knowledge of PIF's operations and strategic direction. In his new capacity, Alkroud will oversee the development and management of PIF's real estate and infrastructure portfolio domestically, taking on direct responsibility for a sector that remains central to Saudi Arabia's economic diversification objectives under Vision 2030.
Maram Al Johani, who transitions into the Acting Chief of Staff role, brings relevant experience through previous board and committee memberships within PIF's governance structure. This appointment ensures continuity in the organization's day-to-day leadership and board-level coordination during what appears to be a strategic reallocation of executive responsibilities.
The reorganization underscores PIF's commitment to deepening its focus on local real estate investments while maintaining robust governance structures. By elevating the Local Real Estate Investment Division under experienced leadership and ensuring continuity in the Chief of Staff function, PIF continues to operationalize its mandate as a driver of domestic economic development and capital deployment aligned with Saudi Arabia's long-term strategic priorities.
Alkroud, who has been with PIF since 2016, previously served as Chief of Staff and Secretary General to PIF's Board of Directors—a position he held since 2021. His nine-year tenure at the fund positions him as an experienced leader with deep institutional knowledge of PIF's operations and strategic direction. In his new capacity, Alkroud will oversee the development and management of PIF's real estate and infrastructure portfolio domestically, taking on direct responsibility for a sector that remains central to Saudi Arabia's economic diversification objectives under Vision 2030.
Maram Al Johani, who transitions into the Acting Chief of Staff role, brings relevant experience through previous board and committee memberships within PIF's governance structure. This appointment ensures continuity in the organization's day-to-day leadership and board-level coordination during what appears to be a strategic reallocation of executive responsibilities.
The reorganization underscores PIF's commitment to deepening its focus on local real estate investments while maintaining robust governance structures. By elevating the Local Real Estate Investment Division under experienced leadership and ensuring continuity in the Chief of Staff function, PIF continues to operationalize its mandate as a driver of domestic economic development and capital deployment aligned with Saudi Arabia's long-term strategic priorities.
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