SAGIA classifies Sadara as strategic

Updated 21 June 2015
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SAGIA classifies Sadara as strategic

Sadara Chemical Company (Sadara) has been classified as strategic by the Saudi Arabian General Investment Authority (SAGIA), the governmental entity established to oversee investment affairs in the Kingdom of Saudi Arabia. This puts Sadara in the highest classification category achievable under SAGIA’s current investment rankings.
This classification of Sadara’s investment status is in recognition of its commitment to enhancing the value of its investments in the petrochemical and chemical sectors of Saudi Arabia. This is also recognition of Sadara’s success in bringing associated investments into the Kingdom, providing significant employment opportunities for Saudi nationals, and driving further development of the industry or associated industries, according to SAGIA.
“We are pleased to have achieved the highest ranking with SAGIA and their recognition of Sadara’s positive impact on the Saudi economy,” said Ziad Al-Labban, CEO of Sadara. “We are driven by the support tendered to us by our stakeholders, Saudi Aramco and The Dow Chemical Company, and are committed to continuing to contribute to the enhancement and strengthening of the Kingdom’s value creation opportunities.”
“I would also like to thank SAGIA for its support of Sadara and its active role in helping the project achieve the successes it has to date,” Al-Labban added.
The evaluation criteria included a detailed appraisal of various aspects of Sadara and its business. This includes the transfer and localization of technological knowledge, diversification of the Kingdom’s economy, increasing exports and decreasing imports; developing local human resources, reinforcing and boosting the economic competitiveness of local products in both domestic and international markets, and encouraging balanced development of the various regions of the Kingdom.


Shaza Makkah opens doors in holy city

Updated 12 August 2018
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Shaza Makkah opens doors in holy city

Shaza Hotels, a luxury hotel brand that embraces the cultures of the Middle East, is making its debut in the holy city of Makkah with the opening of Shaza Makkah. The hotel is located within the precincts of Al-Masjid Al-Haram and the new Jabal Ka’aba district. 

“Respectful luxury, serenity that soothes the soul and a contemporary interpretation of the Arabian motifs form the core of design at Shaza Makkah,” said a press release.

“The thoughtfully crafted 251 rooms and suites at Shaza Makkah are enhanced by many having beautiful views of the Holy Mosque. Small by choice, the hotel’s bespoke services and restaurants and meeting spaces add a new dimension to the experience. Shaza Makkah epitomizes the essence of the Shaza brand, dedicated to offering a unique luxury hospitality experience inspired by the legendary traditions of the famous Silk Route.” 

Khalid Saud Abu Haimed, chief executive officer of Sulaiman Abdulaziz Al-Rajhi Real Estate Investments Company, said: “We are delighted to open Shaza Makkah Hotel which will be the crown jewel property for Al-Rajhi Investments’ portfolio of real estate assets. This is our third hotel opening in Makkah, among the other projects in our development pipeline and I am certain, similar to our other hotels, Shaza Makkah will become the permanent and distinguishing destination for guests visiting Makkah.”

Simon Coombs, president and CEO of Shaza Hotels, said: “Opening of Shaza Makkah marks a key milestone for Shaza Hotels. We are honored to partner with Al-Rajhi Investments in opening their flagship hotel in the holy city of Makkah. It is our endeavor to create a new approach, one of handcrafted guest experiences in an oasis of calm. In tune with the potential of Vision 2030, Shaza Hotels will strive to create distinctive hotels in the Kingdom of Saudi Arabia.”

Salim Khan, head of asset management — hotels at Al-Rajhi Investments, said: “Having 251 keys as compared to other hotels with larger inventories in the central area, will give us the leverage to target the optimum business mix with strong focus on distinctive quality of services that would be provided to the guests.”

Shaza Makkah is part of the Global Hotel Alliance (GHA) and offers its guests unique experiences with Shaza Discovery loyalty program. The program includes more than 10 million members, across 35 brands, and encompassing over 550 upscale and luxury hotels with 110,000 rooms across 76 different countries.