Custodian of the Two Holy Mosques King Salman bin Abdulaziz issued on Tuesday a royal decree, appointing Fahd bin Abdulmohsen bin Salih Al-Rasheed as Chief Executive Officer of the Royal Commission for the City of Riyadh at the excellent rank. The competent authorities will carry out the order with immediate effect. The commission aims to develop the capital Riyadh where the government has said it would spend 86 billion riyals ($23 billion) to boost the quality of life. Rasheed had served as chief executive of Emaar Economic City, a subsidiary of Dubai’s largest listed developer Emaar Properties. Saudi authorities in March announced projects to increase green space and recreational areas in Riyadh as part of a series of planned development investments across the Kingdom.