Prince Mohammed Al-Abdullah Al-Faisal has announced a strategic agreement with Saqifat Al-Safa as the exclusive marketing and sales agent of the flagship tourist plot of Al-Faisaliyah in Al-Hada, Taif. Situated on the summit of the highest mountain in Al-Hada, the project encompasses 464 plots of land totaling 292,000 sq m. Plots vary in size to meet different needs of owners, developers and investors alike. They also enjoy different panoramic views overlooking spectacular scenes of Al-Hijaz region and the Red Sea as well. The project will target those who seek serenity of living on mountain heights soaring near the clouds where they can enjoy eye-catching views, beautiful nature and seamless weather. It also provides a rewarding investment opportunity for urban developers and real estate companies. “We’re delighted to have entered into such a strategic partnership which represents another milestone in Saqifat Al-Safa’s track record. Since inception, we’ve developed expertise and a wealth of experience in the marketing of prominent real estate properties that is difficult to match,” Saqifat Al Safa Director Mowaffaq Al-Hashimi said.
SABB
The Saudi British Bank (SABB) has obtained the highest credit rating amongst local banks. Fitch Ratings, the international rating agency, has upgraded SABB’s long-term rating to “A” which is considered the highest credit rating among the banks in the Kingdom. According to Fitch, this rating reflects SABB’s continuing strong profitability and improving asset quality. The bank benefits from a conservative approach to risks, low-cost funding, satisfactory capitalization and its strong brand. It also gains from the systems and expertise of the HSBC Group in developing its systems and services. “This rating not only emphasizes the bank’s sound financial status and performance in the market, but also stresses its ability to offer a comprehensive series of quality services aimed to meet the requirements of its customers and establish its innovative strategy,” John Richards, chief operating officer of the SABB said. He added that the achievement of such rating reflects the strength of the Saudi economy in general and of the banking sector in particular, under the guidance of Saudi Arabian Monetary Agency (SAMA).
AL ARABIYA
Al Arabiya News Channel has announced the appointment of Jihad Ali Ballout as director of corporate communications. Ballout was the official spokesperson for Qatar-based Al Jazeera Channel until July and its main link to both regional and international media. Abdul Rahman Al Rashed, MD, Al Arabiya News Channel, said corporate communications had become the mainstay for the success of modern enterprises irrespective of the nature of its activities. “Jihad’s appointment is a gain for him and Al Arabiya.”
CASA LICEO
Recent market analysis has revealed that consumers in the Kingdom are developing a taste for shopping in large department stores as a convenient one-stop shopping destination. In the retailing business “large” means upward of 10,000 square meters selling space on multiple floors, with brands conveniently placed side-by-side in departmentalized areas. For decades it has been considered the ideal store model in Western countries and it is at last catching-on in Saudi Arabia. “A department store is the ideal venue for serious shoppers — a place where they can find everything they want under one roof,” said a spokesman for Al-Manafith International Marketing, owners of Jeddah’s newest retail outlet, Casa Liceo. “Saudi residents are world class shoppers who know exactly what they are looking for and like to be able to find it quickly. Casa Liceo enables them to do just that simply by going to the appropriate department.” Opening in September, Casa Liceo occupies a prime location in Jeddah’s popular Hera’a Street.
UNIVERSITAS 21 GLOBAL
With travel and tourism playing a pivotal role in driving the region’s economies, Universitas 21 Global recently announced a strategic partnership with The University of Nottingham to offer a Master of Science (MSc) in Tourism and Travel Management incorporating Universitas 21 Global’s Executive Diploma of Business Administration. Recent figures from the World Travel and Tourism Council (WTTC), reveal that the industry is one of the fastest growing across the Arab World, mirroring similar growth throughout the globe. Across the Middle East, travel and tourism is expected to grow by 4.8 percent, and account for 9.1 percent of the region’s total workforce by the end of 2005. Commenting on the launch of the new program, Vikram Tah, director of recruitment, Universitas 21 Global, Middle East and Africa, said: “With the industry experiencing this kind of growth, a demand for managerial expertise in travel and tourism which is relevant to this region has been created. Our partnership with The University of Nottingham aims to attract executives who are looking to extend their career opportunities by enrolling in a world class, flexible, program. Being completely online, our program enables students to study anytime anywhere and enhance their educational qualifications.”
STARCOM MEDIAVEST
The Starcom MediaVest Group has strengthened its leadership in the Middle East with the announcement of three management changes across the MENA region. “The changes will fortify the organization’s strength in the market while building in the success of what has become the largest media network in the region,” Jack Klues, CEO, Starcom MediaVest Group, and a member of the Publicis Groupe Media board of directors, said. Matt Blackborn, executive director of Starcom MediaVest UK, has been named CEO of MGM MENA, a new and interim role for the media organization. He will oversee the group’s activities across the region over the next two years, working with the local management teams to orchestrate the sharing of best practices across the region and assure compliance with Publicis corporate policies. Mike Fenwick, who currently operates his own TV production company in Johannesburg and was formerly chief financial officer for Grey Advertising in that region, will take on the permanent role of chief financial officer for PGM MENA, another new position.
AJMAL PERFUMES
Zikra Al Nawaaem by Ajmal Perfumes is a fresh new oriental concentrate introduced recently. Also launched is its new oriental fragrance Ishraaq II, a euphoric scent. With its youthful, sensual blend of amber, musk, muget, Dahn Al Oudh, cedar and sandalwood oil, Zikra al Nawaaem meaning soft memories is a feminine fragrance. “I created Zikra Al Nawaaem for the woman with an alluring personality,” Chief Perfumer Nazir Ajmal said. It is packaged in an ornate gold bottle. Ishraaq II, which stands for daybreak, is a unisex eau de parfum. Its ingredients include a blend of rose, cinnamon, saffron, patchouli and musk. “The overwhelming success of Ishraaq has encouraged us to create Ishraaq II,” he said. It comes in a tall square-cut bottle. The 50 ml bottle is topped with a matt silver cap and its design gives it a new appeal.
NCB
The National Commercial Bank (NCB) recently inaugurated new branches at Aroubah and Khalid Bin Waleed streets in Riyadh. The two branches reflect the newly approved architectural design. NCB General Manager Abdulhadi Shayif said the bank expanded its base in the capital as it was one of the fastest growing cities. Deputy General Manager Central & Support Sectors Taha Al-Kuwaiz said the two new branches would offer all the latest Shariah compliant banking, finance and investment services. Al-Shareef Khalid Al-Ghalib, head of customer management group, explained that the bank’s Islamic banking services included a complete range of finance and investment products.
