Red Sea International Appoints Industry Veteran Khalid Mohammed Fagih Managing Director and CEO

Date: Dubai, UAE; May 25, 2021

The leader in offsite modular production and assembly, Red Sea International Company (RSI),has announced the appointment of its new Managing Director and Chief Executive Officer (CEO), Mr. Khalid Mohammed Fagih.

With a 26-year track record in business management and corporate leadership transformation, Khalid’s appointment comes at an exciting juncture ofRSI’s journey towardsbusiness restructuring, consolidation, and transformation.

RSI looks to catapult its operations by developing its products and services, improving performance, reducing costs, adopting digitisation, and closing low-performing assets. Towards this end, the company looks to capitalise Mr. Khalid’s extensive experience managing high-profile transactions with government and private sector companies,to foster tactical partnerships that candeliver significant value for the company.

With these efforts,RSI intends to be future-ready and agiletocater to the projects emanating from the ambitious Vision 2030 of the Kingdom of Saudi Arabia, byprovidingmodular construction, facility management, and real estate, asset management and rental services.

Meanwhile in October,last year, RSI won three contracts in major projects. A US$59million (SAR220million) projectwas secured with The Red Sea Development Company (TRSDC). Two othercontracts were secured in the US$500billion (SAR1.9trillion) NEOM giga project backed bythe Kingdom’s Public Investment Fund (PIF).

For the latter, the first contractis worth US$20.8million (SAR78million) covering engineering, procurement, and construction(EPC) works of the Neom Industrial City Base Camp, and the second contract isworth US$14.1million (SAR53million) pertaining to Facilities Management and Operations and Maintenance services.

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Editor’s Notes

About Red Sea International Company

Headquartered in Riyadh, Kingdom of Saudi Arabia, Red Sea International Company is a horizontally and vertically integrated building technology, real estate and facility management company focused on both mass volume and bespoke product.

As a leader in offsite modular production and assembly, RSI’s focus is to transform building design and construction through digital technology, future-focused methods, and optimized supply chains.

The company’s executive management,backed by a high-powered Board comprises, industry leaders in landed and built asset development, modular technologies, production and execution and facility and asset management.