Ihsan Bafakih serves as governor of the Real Estate General Authority. He was appointed following a royal decree in December 2018.
He is also a board member of the Real Estate General Authority. Bafakih has more than 17 years’ experience in investment banking in the Kingdom.
He had been the CEO of Mohammed Al-Subeaei and Sons Investments Co. (MASIC) since August 2011. He was the first non-family member CEO in the Riyadh-based holding company.
Bafakih represented NCB, SABB, and HSBC at the SAMA Investment Product Committee between 1997 and 2006. As the chief financial officer, he developed self-sustainable financial modeling for the Saudi Industrial Property Authority (MODON).
He was a member of several boards and councils, including the US-Saudi Arabian Business Council from 2012 to 2016, and Albilad Capital from 2012 to 2014 and of Thakher Real Estate Investment in 2012.
Bafakih holds a bachelor’s degree in marketing from Westminster College in Salt Lake City, US. He is also a wealth manager certified by the Saudi Arabian Monetary Authority (SAMA).
Makkah Gov. Prince Khalid Al-Faisal announced on Monday that a piece of land of the state-owned Al-Faisaliah project area will be allocated to establish an airport for Hajj and Umrah.
The new pilgrims’ airport will be connected with King Abdul Aziz International Airport in Jeddah.
Bafakih, and the executive chairman of Saudi Electricity Co., Fahd Al-Sudairy, signed an agreement to allow a new solar energy project for the Al-Faisaliah Project area.