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.


Jaguar achieves strong growth in Saudi market

Updated 23 January 2019
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Jaguar achieves strong growth in Saudi market

Mohamed Yousuf Naghi Motors (MYNM), the authorized dealer of Jaguar Land Rover in Saudi Arabia, has announced strong growth within the local automotive market during 2018 with sales showing a significant increase compared to 2017.

“Jaguar is one of the most prestigious automotive brands and owning a Jaguar vehicle is highly desirable among motorists worldwide,” said Andre Bonthuys, managing director of Jaguar Land Rover at MYNM. “However, it’s more affordable than most people think, due to competitive pricing, made even more attractive by our new five-year comprehensive service package which enables customers to enjoy worry-free ownership of their Jaguar. With a growing range of products within the Jaguar family, our customers now have a wide variety of sedans, SUVs and sports cars to choose from, all maintain the pure Jaguar DNA.

“Jaguar launched its first SUV, the F-Pace, in 2016, which is still showing a strong presence year after year with continuous sales growth during 2017 and 2018, followed by the 2018 launch of the new compact performance E-Pace designed to appeal to younger families and the Kingdom’s huge youth market.”

Several strategic marketing initiatives also played an important role in increasing familiarity and popularity of the Jaguar brand. Prompted by the announcement of Saudi Arabia issuing driving licenses for women, Jaguar implemented its “Her Car Her Choice” initiative to educate women about Jaguar’s advanced safety factors, superior performance and state-of-the-art entertainment facilities. 

“The combination of beauty, luxury, safety and stylish design has attracted many females to purchase and experience Jaguar vehicles,” the automaker said in a statement.

To further increase brand awareness, in 2018 MYNM implemented a marketing campaign through various media channels, supported by a roadshow which visited the Kingdom’s main cities. The Jaguar Art of Performance Tour demonstrated the capabilities and performance of the leading British brand.

“Looking forward to further success in 2019, Mohamed Yousuf Naghi Motors continues to uphold its commitment to maintain the highest quality in providing its customers with a level of service that exceeds their highest expectations,” the press release said.