Cyril Piaia assumed his current role in 2021. EEC is the master developer of the King Abdullah Economic City (KAEC), an emerging destination on the Saudi Arabian coast of the Red Sea. It is 25% owned by Saudi’s Public Investment Fund. In the first nine months of 2023, EEC recorded revenues of $247 million and total assets worth $4.2 billion. It had a market cap of $2.2 billion as of November 14, 2023. In October 2023, the company signed a strategic agreement with Orascom Development and the AlKholi Group to develop a waterfront mixed-use destination of over 9.5 million square meters in KAEC. Piaia also served as the CEO of MURIYA and Musstir in Oman.