Hyderabad, Nov. 13 -- NEOM, the 500 billion-dollar futuristic megacity being built in Saudi Arabia, has replaced its CEO, Nadhmi Al Nasr, who has been the project's chief executive since 2018.

Aiman Al Mudaifer has been appointed "acting CEO of the company", NEOM said in a statement. NEOM did not provide a reason for Al Nasr's departure.

"As NEOM enters a new phase of delivery, this new leadership will ensure operational continuity, agility and efficiency to match the overall vision and objectives of the project," the statement said on Tuesday, November 12.

Al Mudaifer will lead the company with the support of a strong leadership team that spans across NEOM's various regions, sectors and departments.

Since 2018, he has served as Head ...