Riyadh – Mubasher: Emaar the Economic City, the master developer of King Abdullah Economic City, has announced the formation of its Audit Committee for a new four-year term, following a Board of Directors resolution passed on 28 June 2026.
The committee has been established to align with the new Board cycle that commenced on 26 June 2026, according to a bourse filing.
The appointment of the four-member committee, which includes both board members and external independent experts, underscores the company's commitment to robust corporate governance and financial oversight through 2030.
The formation of the committee follows the results of the Ordinary General Assembly meeting held on 22 June, where shareholders elected the Board of Directors for the current term.
The newly appointed Audit Committee will serve a tenure ending on 25 June 2030, mirroring the term of the Board. The committee is composed of four professionals with extensive backgrounds in finance, real estate, and regulatory compliance.
Fahad Saleh Al Hathloul has been appointed as the Chairman of the Audit Committee and an independent board member.
Al Hathloul brings over 20 years of experience in financial analysis and real estate investment to the role. He holds an MBA from Colorado State University and a Bachelor’s degree in Computer Information Systems from King Saud University. Licensed by both the American Management Accounting Association and the American Financial Management Association, he currently serves as a partner at Saleh Al Hathloul Development Company and holds various board and committee positions across several firms.
Joining the committee as an independent board member is Pawan Dhanraj Singhvi, who is a Certified Public Accountant with more than 22 years of experience in corporate governance, finance, and the real estate sector. He currently serves as the Group Chief Financial Officer of Emaar Properties PJSC and has held senior leadership roles within the Emaar Group since 2011. His academic credentials include a Bachelor of Commerce and an MBA, with a professional focus on financial strategy and institutional control.
The committee also includes two independent members from outside the Board of Directors to ensure a broad range of oversight. Altaf Dossa, currently an advisor in the Subsidiary Affairs Department at the Public Investment Fund (PIF), joins the committee with over 25 years of experience in financial services and forensics.
Dossa previously served as an advisor to the Vice Governor of the Saudi Central Bank (SAMA). He holds a Master’s degree in International Banking and Finance from the University of Salford and serves on the boards of several entities, including AviLease and Taqnia.
The fourth member is Mohammed Al Ayidi, a specialist in governance, auditing, and financial consulting with over two decades of professional experience.
Al Ayidi is the Managing Partner at Al Ayidi & Al Saloum for Professional Consulting. His career includes senior roles at major international firms such as KPMG and Ernst & Young (EY), as well as tenures at the Capital Market Authority (CMA) and the World Bank Group. He is a Certified Public Accountant (CPA) and a member of the Saudi Organization for Chartered and Professional Accountants (SOCPA).
