| Element List | Explanation |
|---|---|
| Introduction | Retal Urban Development Company announces that its Board of Directors, in its resolution dated in 24 Shawwal 1447H, corresponding to 12 April 2026G, approved the establishment of the position of Managing Director within the Board of Directors of the Company, and the appointment of Eng. Abdullah bin Faisal bin Abdulaziz AlBraikan as Managing Director of the Company, effective as of 13 April 2026G. Furthermore, on the same date, the Board of Directors resolved to appoint Eng. Kamal bin Ahmed Mohammed Ahmed as the new Chief Executive Officer of the Company, succeeding the current Chief Executive Officer, Eng. Abdullah bin Faisal bin Abdulaziz AlBraikan, following his recent appointment as Managing Director. Eng. Kamal bin Ahmed Mohammed shall assume his duties as Chief Executive Officer effective 13 April 2026G. The Board of Directors extends its sincere wishes for success and prosperity to both Eng. Abdullah AlBraikan and Eng. Kamal bin Ahmed in their new roles. These resolutions come as part of the Company’s continued growth and qualitative development, reflecting its commitment to strengthening corporate governance practices, supporting the achievement of its strategic objectives, to ensure the sustainability of its business and maximize the value for its Shareholders. |
| Element List | Explanation |
|---|---|
| Name of the Resigned Person | Eng. Abdullah bin Faisal bin Abdulaziz AlBraikan |
| Resignation Acceptance Date | 2026-04-12 Corresponding to 1447-10-24 |
| Resignation Effective Date | 2026-04-13 Corresponding to 1447-10-25 |
| Reasons for Resignation | Promotion to the position of Managing Director |
| Element List | Explanation |
|---|---|
| Appointment Type | Appointment |
| Name of the Appointed Person | Eng. Kamal bin Ahmed Mohammed Ahmed |
| Date of Board Resolution | 2026-04-12 Corresponding to 1447-10-24 |
| Date Work Commencement | 2026-04-13 Corresponding to 1447-10-25 |
| Brief Resume | Eng. Abdullah bin Faisal bin Abdulaziz AlBraikan – Appointed Managing Director: Eng. Abdullah bin Faisal bin Abdulaziz AlBraikan has served as the Chief Executive Officer of Retal Urban Development Company since its establishment in 2012G and until 12 April 2026G and has been a Member of the Company’s Board of Directors since 2019G. He possesses distinguished professional experience in the fields of real estate development and business administration and has held chairmanship and membership positions on boards of directors and committees of several leading entities operating across the real estate development, urban development, investment, and financial sectors. He has also actively contributed to housing initiatives, urban development programs, and community service efforts across various regions of the Kingdom. Eng. Abdullah AlBraikan holds a bachelor’s degree in architecture from King Faisal University in Dammam. Eng. Kamal bin Ahmed Mohammed Ahmed – Newly Appointed Chief Executive Officer: Eng. Kamal bin Ahmed Mohammed Ahmed served as President of the Electricity and Water Authority in Kingdom of Bahrain, holding the rank of Minister, from June 2022G until February 2026G, pursuant to a Royal Decree. He possesses extensive and long-standing experience in leading vital sectors, having previously held the position of Minister of Transportation and Telecommunications for a period of eleven years, as well as serving as Minister for Cabinet Affairs. In addition, He has chaired and served as Board of Directors Member in several public entities and companies in Kingdom of Bahrain, including Bahrain Economic Development Board, Mumtalakat Holding Company, Gulf Air Group, Bahrain Airport Company, and Edamah Real Estate Company. Eng. Kamal bin Ahmed holds a Master’s degree in International Project Management from the University of Leeds in United Kingdom, in addition to a Bachelor’s degree in Civil Engineering from University of Bahrain. |
