AlAhli SEDCO Residential Development Fund closes at SR350 million

Updated 15 June 2015
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AlAhli SEDCO Residential Development Fund closes at SR350 million

SEDCO Development, a subsidiary of SEDCO Holding Group and the prime developer of AlAhli SEDCO Residential Development Fund, has been awarded a contract for the construction of Gardenia Residence, a project owned by the fund in partnership with Ghoneim International Co. Ltd.
The project’s execution phase is 19 months, with expected delivery date set for end of 2016.
Khalid Assad Jamjoom, CEO of SEDCO Development, and Al-Said Ghoneim, GM of Ghoneim International Co. Ltd. signed the contract.
Gardenia Residence covers a 26,000 sqm land located west of Madinah Road previously acquired by the fund through SEDCO Development. The project accommodates more than 370 diversified residential units that cater to the needs of residents as part of the growing demand in Jeddah’s real estate sector.
Ghoneim International Co. Ltd. acquired the project under its ability to provide competitive prices and determine the timeline for the execution of the project.
NCB Capital has successfully closed the investment fund after its investors’ shares exceeded the targeted amount of SR350 million, aiming to achieve 10 percent internal returns per annum.


Global Leadership Awards feature three Saudi winners

Sofana Dahlan, founder of Tashkeil; Malaysian Consul General Dato Mohammed Ali bin Selamat; Saudi media and political analyst Khaled Almaeena; Khashoggi Holding Group Vice Chairman Hassan Khashoggi and Mohamed Rafeeq, CEO, My Events International Saudi Arabia, at the event in Jeddah recently. (Photo/Supplied)
Updated 16 August 2018
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Global Leadership Awards feature three Saudi winners

The 8th Global Leadership Awards (GLA), which took place in Kuala Lumpur recently, for the first time had winners from Saudi Arabia in two different categories and Saudi media and political analyst Khaled Almaeena as the Lifetime Achievement Award winner.

Almaeena hosted the Malaysian Consul General Dato Mohammed Ali bin Selamat, and the two winners of the GLA, Sofana Dahlan and Hassan Khashoggi, along with Mohamed Rafeeq, CEO of My Events International Saudi Arabia, at his office in Jeddah.

Welcoming the guests, Rafeeq said: “When we disclosed the news of GLA Secretariat’s selection of Khaled Almaeena for the Lifetime Achievement Award for his achievements in media, expatriates’ welfare and women empowerment in the region, he just had one thing to say. I would also like to see some Saudi young men and women recognized at the GLA.”

Almaeena nominated a number of Saudis who have excelled in various fields, including two Saudis who won the GLA in different categories.

Recipient of the “Leadership Excellence in Social Entrepreneurship” award, Sofana Dahlan is a well-known lawyer, social entrepreneur and among the first three Saudi female lawyers practicing in the Kingdom. She is the first Saudi female senior economic policymaker and the founder of Tashkeil, a social enterprise that promotes creative entrepreneurs.

Hassan Khashoggi, who won the “Young Entrepreneur of the Year” award, is vice chairman of the Khashoggi Holding Group, which was established in 2010. It is a leading private holding that invests in products, services and solutions for the energy and power sectors. It also invests in medical sectors, food, aviation and financial services for the real estate sector.

The event was organized by The Leaders International, a high-profile business magazine and is endorsed by American Leadership Development Association (ALDA), a US-based NGO which showcases leadership at large.

Achievements in more than 30 categories are recognized and honored with a unique award. The winners are selected by high-profile judges from all parts of the world. The event seeks to honor leaders for their exemplary contributions to global growth in economic and leadership development.

Since both the winners could not attend the event in Kuala Lumpur, My Events International Saudi Arabia had arranged for the trophies to be handed over to them by Malaysian Consul General Mohammed Ali bin Selamat in Jeddah.

The consul general told the award winners: “We hope that you attain further excellence in your respective fields. I hope this promotion of bilateral relations between Saudi Arabia and Malaysia will flourish in the future.”

Khashoggi said: “Hopefully, for future GLA events, we will have more awareness of Saudi talent that is hidden in the Kingdom and we will recognize and reward them. Thank you, Dr. Khaled Almaeena and the My Events team for this honor.”

Dahlan said: “This award is a very important bridge between Saudi Arabia and Malaysia because it not only recognizes our achievement but also opens a dialogue and creates awareness about what is really happening in Saudi Arabia beyond the news.

“It is very important that through these kinds of awards and events, we are able to bring nations together and change negative perceptions.”

Almaeena congratulated the winners and said: “These are two very fine young people making a change. Where many do their work in the limelight, they are making a change quietly. We have always recognized people from the West and it is time to look toward the East too. There is so much talent here.”