Riyadh – Mubasher: Emaar The Economic City’s board of directors approved a request by incumbent CEO Cyril Piaia for not renewing his contract.

Piaia’s contract is set to end on 31 August 2023, according to a bourse filing.

Moreover, the company announced that the current Managing Director, Mansour Al-Salem, will continue undertaking the management of the company.

In October 2023, Emaar appointed new Chairman and Vice Chairman for three years.

The company recorded a 92.44% drop in net losses to SAR 49 million during the first nine months (9M) of 2023, versus SAR 648 million in 9M-22.