Riyadh – Mubasher: Makkah Construction and Development Company has formally disclosed the composition of its Audit Committee for the new Board of Directors term upon a resolution passed by the Board of Directors, according to a bourse.

The committee will serve a four-year tenure ending on 9 June 2030, comprising three members with extensive experience in the Saudi financial, banking, and investment sectors.

The company confirmed that the committee’s term is scheduled to commence on 10 June 2026. This appointment process is part of the preparatory measures for the new board cycle, ensuring that the oversight and governance frameworks are established well in advance.

The selected members bring a combination of long-term industrial experience and specialized technical qualifications in accounting and financial regulation.

Among the appointed members is Ibrahim Abdullah Ibrahim Al Subaei, a veteran of the Saudi business landscape with a career spanning over 50 years.

Al Subaei currently serves as the Chairman of the Board of Al Subaei Investment Group. His professional history includes high-level leadership and board positions at several major Saudi institutions, including Bank Aljazira, Bank Albilad, Arabian Cement Company, and Jabal Omar Development Company. His background covers banking, real estate, and investment management, providing the committee with deep institutional knowledge and governance expertise.

Joining the committee is Osama Omar Saeed Bariyan, who specializes in auditing, corporate governance, and asset management. Bariyan currently holds the positions of Deputy CEO and Head of Investment at Dar Saleh. His previous experience includes serving as the Head of Financial Investments at Meethaq Investment Holding.

Bariyan has also held various board and committee roles at Emaar The Economic City, Al Buhaira Development Company, Dallah Holding, Arab Forum Company, and Kun Sports. He holds a Master’s degree in Applied Financial Management and a Bachelor’s degree in Accounting.

The third member of the committee is Abdullah Iyad Abdulmohsen Al Fares, who brings more than 15 years of experience in finance, auditing, and risk management.

Al Fares is currently the Chief Financial Officer of Riyadh Capital. His career includes significant roles such as the Director of Financial Policy and Control at Riyad Bank and the Director of Internal Audit at Riyadh Capital.

Furthermore, his professional background includes tenures at the Capital Market Authority (CMA), the Saudi Exchange (Tadawul), and Deloitte.

He also holds an MBA in Finance from Heriot-Watt University in the United Kingdom and a Bachelor’s degree in Accounting from King Saud University. He is also a certified member of the Saudi Organization for Chartered and Professional Accountants (SOCPA).

The formation of this committee reflects the company’s strategic focus on integrating diverse financial and regulatory expertise to oversee its operations.

By selecting members with backgrounds in public sector regulation, internal audit, and large-scale investment management, Makkah Construction and Development Company aims to maintain rigorous standards of financial transparency and institutional control throughout the 2026-2030 term.