Emaar EC’s shareholders also elected the board of directors for the next four-year term
Shareholders of Emaar The Economic City (Emaar EC) approved, at the ordinary general meeting (OGM) held on June 22, the transactions and contracts concluded with the Public Investment Fund (PIF) for 2025, relating to the amendment and restatement of the existing shareholder loan agreement. 
According to a Tadawul filing, the agreement includes an additional SAR 1 billion convertible loan, granting PIF the right to convert the debt amount into shares of the company.
The company said former Chairman Fahad Al Saif, board member Naif Al Hamdan, and former board member Mansour Al Salem had an indirect interest in the agreement, as they are among the former and current executive management of PIF, a major shareholder in Emaar EC.
Shareholders also elected the board of directors for the next four-year term, commencing June 26, 2026.
The newly elected board includes, Muhannad Al Azzawi, Naif Al Hamdan, Mohammed Hefni, Fahad Al Saud, Khalid Al Salman, Fahad Al Hathloul, Abdulrahim Al Tuwaijri, Mustafa Abuqube and Pawan Chindalia.
Emaar EC’s shareholders also elected the board of directors for the next four-year term
Shareholders of Emaar The Economic City (Emaar EC) approved, at the ordinary general meeting (OGM) held on June 22, the transactions and contracts concluded with the Public Investment Fund (PIF) for 2025, relating to the amendment and restatement of the existing shareholder loan agreement.
According to a Tadawul filing, the agreement includes an additional SAR 1 billion convertible loan, granting PIF the right to convert the debt amount into shares of the company.
The company said former Chairman Fahad Al Saif, board member Naif Al Hamdan, and former board member Mansour Al Salem had an indirect interest in the agreement, as they are among the former and current executive management of PIF, a major shareholder in Emaar EC.
Shareholders also elected the board of directors for the next four-year term, commencing June 26, 2026.
The newly elected board includes, Muhannad Al Azzawi, Naif Al Hamdan, Mohammed Hefni, Fahad Al Saud, Khalid Al Salman, Fahad Al Hathloul, Abdulrahim Al Tuwaijri, Mustafa Abuqube and Pawan Chindalia.
