Date: Dubai: The leader in offsite modular production and assembly, Red Sea International Company (RSI), has announced the appointment of its new Managing Director and Chief Executive Officer (CEO), Mr. Khalid Mohammed Fagih.
With a 26-year track record in business management and corporate leadership transformation, Khalid’s appointment comes at an exciting juncture of RSI’s journey towards business restructuring, consolidation, and transformation.
RSI looks to catapult its operations by developing its products and services, improving performance, reducing costs, adopting digitisation, and closing low-performing assets. Towards this end, the company looks to capitalise Mr. Khalid’s extensive experience managing high-profile transactions with government and private sector companies, to foster tactical partnerships that can deliver significant value for the company.
With these efforts, RSI intends to be future-ready and agile to cater to the projects emanating from the ambitious Vision 2030 of the Kingdom of Saudi Arabia, by providing modular construction, facility management, and real estate, asset management and rental services.
Meanwhile in October, last year, RSI won three contracts in major projects. A US$59 million (SAR220 million) project was secured with The Red Sea Development Company (TRSDC). Two other contracts were secured in the US$500 billion (SAR1.9 trillion) NEOM giga project backed by the Kingdom’s Public Investment Fund (PIF).
For the latter, the first contract is worth US$20.8 million (SAR78 million) covering engineering, procurement, and construction (EPC) works of the Neom Industrial City Base Camp, and the second contract is worth US$14.1 million (SAR53 million) pertaining to Facilities Management and Operations and Maintenance services.
About Red Sea International Company
Headquartered in Riyadh, Kingdom of Saudi Arabia, Red Sea International Company is a horizontally and vertically integrated building technology, real estate and facility management company focused on both mass volume and bespoke product.
As a leader in offsite modular production and assembly, RSI’s focus is to transform building design and construction through digital technology, future-focused methods, and optimized supply chains.
The company’s executive management, backed by a high-powered Board comprises, industry leaders in landed and built asset development, modular technologies, production and execution and facility and asset management.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
