Riyadh – Mubasher: The Extraordinary General Meeting (EGM) of Umm Al Qura for Development and Construction Company approved the appointments of Chairman and Vice Chairman, the formation of its standing board committees, and the designation of company representatives for the new board term.
These appointments, effective as of 1 July 2026, will govern the firm's strategic direction through 30 June 2030.
The company, which operates with a fully paid-up capital of SAR 14.38 billion, confirmed that Abdullah Saleh Kamel has been appointed as the Chairman in a non-executive capacity. Serving alongside him, Abdulrahman Mohammed Al Rashed has been named Vice Chairman, classified as an independent director.
The board’s composition for this fifth session includes a mix of independent and non-executive members. The directors are Fahad Khalid Al Saud, Abdulaziz Mutaib Al Rasheed, and Abdullah Saleh Al Balawi as non-executive members, while Ahmed Abdulmohsen Al Romaih, Raed Abdullah bin Ahmed, Zuhair Fouad Hamzah, and Sulaiman Dawood Al-Sabti serve as independent members.
In addition to leadership roles, the board approved the formation of three primary committees to oversee corporate governance and operational strategy.
The Executive Committee will be chaired by Abdulrahman Mohammed Al Rashed and includes Fahad Khalid Al-Saud, Zuhair Fouad Hamzah, and Abdullah Saleh Al Balawi.
The Remuneration and Nominations Committee is now headed by Raed Abdullah bin Ahmed. Its membership includes Abdulaziz Mutaib Al-Rasheed, Ahmed Abdulmohsen Al Romaih, and Abdulrahman Mohammed Al Rashed.
For the Audit Committee, the board has integrated both internal and external expertise. Hussam Faisal Baward has been appointed as the Chairman, serving as a member from outside the board. He is joined by two other external members, Khalid Mahmoud Abu Namous and Lamees Tariq Katouah, as well as board members Zuhair Fouad Hamzah and Sulaiman Dawood Al Sabti.
To ensure administrative continuity and regulatory compliance, the board appointed Badr Ayman Fadel as the Secretary of the Board. Furthermore, the company designated Chairman Abdullah Saleh Kamel and Chief Executive Officer Yasser Abdulaziz Abu Ateeq as official representatives to the Capital Market Authority (CMA) and the Saudi Tadawul Group.
These representatives are authorized to handle all matters pertaining to the Companies Law, its implementing regulations, and the rules governing the offering of securities and continuous obligations.
The restructuring of the board and its specialized committees marks the formal commencement of the four-year term, providing a governance framework intended to support the company’s large-scale development mandates within the Kingdom.
This transition aligns with the regulatory requirements of the Saudi financial market, ensuring that MASAR maintains its reporting and oversight standards through 2030.
