NCB Capital launches Pan European Real Estate Fund

Updated 05 April 2017
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NCB Capital launches Pan European Real Estate Fund

NCB Capital, Saudi Arabia’s leading provider of wealth management and investment services, and the Kingdom’s largest asset manager, has announced the launch of its Pan European Real Estate Fund with more than $150 million raised through a private placement.
NCB Capital has partnered with Fidelity International, a leading global asset manager, to invest in commercial properties, including office, retail, logistics/industrial and mixed use, located in key European property markets including France, Germany, Benelux and the United Kingdom. Favorable currency conversion rates, robust legal and regulatory environments, coupled with consistent growth expectations of the core European economies make this an opportune time to invest in a solid real estate market.
“NCB Capital is dedicated to creating a robust set of domestic and international investment solutions to meet the needs of its clients,” said Sarah Jammaz Al-Suhaimi, NCB Capital’s CEO. “With the Euro and the British Pound below their long-term averages, the impact of Brexit on real estate capital values in the UK and the positive sentiment in the Eurozone, these conditions create a good entry point for our clients to diversify into the European real estate market.”


Emaar reopens historic Al-Alamein Hotel

Updated 17 July 2018
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Emaar reopens historic Al-Alamein Hotel

The historic Al-Alamein Hotel has officially reopened after a major facelift by Emaar Hospitality Group that makes it among the finest resorts along the Mediterranean.

The opening event was attended by Egyptian Minister of Tourism, Dr. Rania Al-Mashat, VIP guests, top media figures, as well as other public figures.

Situated in the picturesque setting of Sidi Abdel Rahman Bay, the hotel’s glamorous design ethos and refurbished retro-modern interiors hark back to the glory days of the 1960s, when the resort first opened.

The remodelled designs blend vintage charm with contemporary style, evoking a sense of nostalgia to the golden age of Egyptian music and cinema. “The refurbishment of Al-Alamein Hotel provides an example of our determination to offer a hotel that is on a par with, or rather superior to, world-class resorts,” said Mohamed Alabbar, chairman of Emaar. 

“We strive for nothing less than the highest global standards for our customers and our developments in Egypt including Al-Alamein Hotel, of which renovation costs totaled EGP 1.5 billion ($84 million),” Alabbar added.

While the building stays true to its rich heritage, visitors can expect modern comfort and style everywhere, from the bar and restaurants to the corridors and rooms.

There is something remarkable around every corner of the resort. An impressive assortment of black and white photographs of Egypt’s most celebrated classical actors and singers festooning columns at the lobby offer visitors much to marvel at once they walk into the building.

The hotel is also home to the renowned Umbrellas sculpture by Greek artist George Zongolopoulos, a poetic structure of steel umbrellas that stretches 13 meters into the sky, offering a dramatic reinterpretation of Abdel Halim Hafez’ classic oldie “Dokko Elshamasy” or “Fix the Umbrellas on the Beach.” One of the most photographed modern sculptures worldwide, the piece was first displayed at the Venice Biennale in 1995, where it drew international attention, and will now delight visitors to this Egyptian vacation spot.

The hotel also boasts a magnificent collection of art works and sculptures by a large number of local and global artists, including an iconic mosaic mural of late legendary Egyptian singer Umm Kulthum and another one featuring colorful ancient boats.

Al-Alamein Hotel is part of a thriving residential and tourist community Emaar is developing in Marassi, the company’s flagship Mediterranean landmark in Egypt. These include several hotels already launched such as Vida Marassi Marina, Address Marassi Beach Resort and Address Marassi Golf Resort + Spa. Marassi will be home to seven luxury hotels with up to 3,000 rooms.