In the presence of H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Logistics Services and Chairman of the Saudi Ports Authority, the National Shipping Company of Saudi Arabia (Bahri) today laid the cornerstone for the establishment of a logistics center at Jeddah Islamic Port. The ceremony was also graced by Omar Hariri, President of the Saudi Ports Authority (Mawani) and Eng. Ahmed Ali Al-Subaey, CEO of Bahri. This state-of-the-art facility, which will cover a total area of 95,436 square meters, will be managed by Bahri Logistics. It will offer multiple storage options in temperature-controlled areas, handling services, and…
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Tabreed, the UAE’s leading international district cooling company, today released its consolidated financial results for the year 2023, reporting a revenue of AED 2.4 billion – a 9% increase over 2022 – and a net profit attributable to parent, before deferred tax, of AED 751 million. Tabreed’s balance sheet strengthened further, underscored by an improved net debt/EBITDA ratio of 4.11x (4.49x as end of FY 2022). Tabreed’s net debt decreased in 2023 thanks to strong cash generation and a decline in gross debt due to a proactive debt management exercise carried out during the year. As a result of prudent financial management, the company achieved reductions in its net finance…
Rua Al Madinah Holding signed two contracts worth more than 300 million riyals with several international consultancy firms specializing in designs, engineering consultations, and supervision of several hotels within the fourth and fifth Super Blocks of Rua Al Madinah project. This occurred during the company’s participation in the second edition of the PIF Private Sector Forum, held on February 6-7, 2024, at the King Abdulaziz International Conference Center in Riyadh, aiming to strengthen partnerships between fund-affiliated companies and the private sector to achieve local economic growth. Rua Al Madinah Holding provided several opportunities for investors during the forum. Under the…
MAG Group Holding, the multinational conglomerate incorporating different companies across diverse sectors, announced the recording of AED 12.6 billion in sales for 2023 across its different real estate subsidiaries. Sales at the innovative Keturah brand, founded last year, reached AED 2.5 billion at the Keturah Reserve development in Meydan. In contrast, sales at ‘The Ritz-Carlton Residences, Dubai, Creekside,’ part of the Keturah Resort, recorded AED 2.8 billion. Additionally, 70% of Keturah Resort has been sold. Other real estate subsidiaries of MAG Group recorded AED 7.3 billion in sales for real estate developments across the UAE, which includes MAG Lifestyle Development,…
Four Winds Saudi Arabia Limited, a Saudi leader in comprehensive and integrated moving and logistics services since 1979, today announced new and effective logistics solutions. These solutions are designed to secure the availability of international freight services within both Saudi Arabia and Jordan, efficiently addressing the current challenges faced by the logistics sector due to the crises in the Red Sea. The new freight services provided include the establishment of new corridors as detailed below, with the understanding that the expected times are contingent upon the completion of the necessary customs documents: From Jebel Ali Port in Dubai to Jeddah:…
In the presence of H.E. Al-Jasser and with investments exceeding one billion Riyals, Mawani has announced the completion of the development of the Red Sea Gateway Terminal at Jeddah Islamic Port, leading to an increase in its capacity. The completion of development works in Jeddah Islamic Port’s North Container Terminal, in cooperation with the Red Sea Gateway Terminal “RSGT” with investments amounting to one billion riyals, is expected to enhance the operational capabilities of the port, increase its capacity, and raise the efficiency of logistics services. H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Logistic Services and Chairman…
Sharjah Airport Authority (SAA) showcased its major developments that are currently underway and planned for its Cargo Centre during the three-day Air Cargo India 2024 in Mumbai, India. The event was attended by delegates from leading international airports, airlines, air cargo companies, as well as representatives from international commercial aviation and air cargo service organisations. As part of its participation in the event, SAA showcased the latest services and solutions available at Sharjah Airport’s Air Cargo Centre. Furthermore, it sought to engage in meetings with different air cargo companies, shipping agents, and other global logistics service providers. These meetings provided…
DAMAC Properties, a leading luxury real estate developer in the UAE, announces the launch of “The Sapphire” tower, the third launch completing the latest luxury lifestyle collection Safa series boasting luxurious unique interiors. The Sapphire offers residents a haute attitude of high-end living and an ideal balance of urban convenience and luxury leisure. Residents and visitors are welcomed by an immersive ring of light in the lobby. They can unwind in the infinity pool with stunning Safa Park and water views on the Podium. At the rooftop, co-working spaces surrounded by lush greenery and sunflowers offer inspiration, with dedicated pods…
Leading Japanese architectural consulting firm Nikken Sekkei celebrated the official opening of its One Za’abeel project, wholly owned by the Investment Corporation of Dubai, with a ceremony at the site on February 10. Distinguished attendees included members of the United Arab Emirates Royal Family, major stakeholders and select members of the media. Nikken Sekkei was represented by Chairman Tadao Kamei, President and CEO Atsushi Omatsu, and Dr. Fadi Jabri, CEO of Nikken Sekkei Dubai (NIKKEN SEKKEI FZ-LLC). After being selected through an international design competition in 2014, the company served as Lead Consultant on the development, with responsibilities over architectural,…
The 2024 Top Employers have been announced and ROSHN has been recognised as Top Employer in Saudi Arabia for the second consecutive year. Being certified as a Top Employer showcases an organisation’s dedication to a better world of work and exhibits this through excellent HR policies and people practices. The Top Employers Institute is one of the world’s most prestigious certifications in the field of human resources management, acknowledging the commitment of companies to HR topics including People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity & Inclusion, Wellbeing and more. The Top Employers Institute has certified and recognised over 2,300…