InterContinental undergoes multimillion-dollar renovation

Fahad Ibrahim Al-Sayegh (left), general manager of InterContinental Al-Jubail, and Ali Al-Agnam, director of sales and marketing.
Updated 05 March 2018

InterContinental undergoes multimillion-dollar renovation

InterContinental Al-Jubail, a five-star luxury hotel in the Eastern Province industrial city of Jubail, has announced the fast progress of its multimillion-dollar renovation project comprising 300 guest rooms, a banquet hall, meeting rooms, restaurants and large utility areas. The announcement was recently made by Fahad Ibrahim Al-Sayegh, general manager of InterContinental Al-Jubail.
“The full renovation included a top-to-bottom refurbishment of guest rooms, corridors, and a fitness center,” said Al-Sayegh.
He said that the hotel rooms, including suites, received new beds, furniture, hardwood flooring, bathroom updates and headboards with reading lamps and other luxury décor, with high-speed Internet and other technology features.
“This huge renovation aims to establish InterCon as the global brand of choice, as we spent more than $150,000 on renovating each guest room,” said Al-Sayegh.
“Here you can relax in the lap of an elegant resort, ask the concierge to arrange a day of fishing and diving over coral reefs in the Arabian Gulf, or sail back for sunset drinks and a lavish dinner,” said the hotel’s general manager.
He pointed out that the hotel offers the guest a choice of four different food and beverage outlets, which serve a wide range of Arab and international cuisines. The hotel’s Al-Tuwayah Restaurant is open daily for breakfast, lunch and dinner and offers lavish buffets and theme nights. The specialty restaurants include Al-Diwan Lebanese Restaurant and Tex-Mex Mexican Restaurant, which are highly recommended by tour operators. The fourth one is a restaurant on the beach, where guests can enjoy food amid nature’s serenity and beauty.
Commenting on the nationalization of the workforce in the hospitality sector, Al-Sayegh said: “About 40 percent of our staff are Saudis ... we run different types of training programs with an aim to train and hire young Saudi boys and girls.
“More Saudis will join our hotel and eventually the hospitality sector as the Kingdom has opened several avenues including the entertainment sector.”
Al-Sayegh, along with Al-Ali Agnam, director of sales and marketing, gave an overview of the facilities for business meetings and weddings at the hotel.
“The hotel has a large banquet hall besides six small meeting rooms, which are regularly booked by giant companies such as Saudi Aramco, SABIC, SATORP and other multinational companies. In fact, the hotel has been ranked as the best value property in Jubail, where guests get more for their money when compared to other properties in the Eastern Province,” Agnam said.

GIB Capital takes 4 EMEA Finance awards

Updated 12 December 2018

GIB Capital takes 4 EMEA Finance awards

GIB Capital, a Riyadh-based regional investment banking and asset management arm of Gulf International Bank (GIB), has won awards in four categories in the EMEA Finance Middle East Banking Awards 2018.

The awards for the 11th year are recognizing the achievements of the best banks, asset managers and brokers in countries across the Middle East. 

Recognizing GIB Capital’s continued regional market leadership across investment banking products, EMEA Finance named GIB Capital as the “Best Investment Bank in the Middle East,” “Best Local Investment Bank — Saudi Arabia” and “Best Local Investment Bank — Bahrain,” each for the third consecutive year. GIB Capital was also named the “Best Foreign Investment Bank — Oman” for the second consecutive year. 

Osamah Mohammed Shaker, CEO of GIB Capital, said: “We’re extremely proud of the work that GIB Capital is doing for our clients across the GCC and of the recognition and confidence we continue to enjoy from the market for excellence in investment banking. The continued recognition that we have received across a number of geographies underscores our position as a leading player in our core markets.” 

During the 12-month review period for the EMEA Finance awards, GIB Capital completed over $17 billion in capital market transactions including sovereign issuances for Saudi Arabia, Bahrain and Oman. GIB Capital also assisted the shareholders of Saudi Tabreed District Cooling Company with the sale of a minority shareholding to IDB Infrastructure Fund II, in which the major investors include the Islamic Development Bank (IDB), Public Investment Fund (PIF), Public Pension Agency (PPA) of Saudi Arabia, Ministry of Finance of Bahrain and the Ministry of Finance of Brunei Darussalam. 

In another landmark transaction, GIB Capital assisted the shareholders of Byrne Equipment Rental Company with the sale of 100 percent shareholding to a consortium of investors including CITIC Pacific, a Chinese sovereign wealth fund, and V-Power, a Chinese company engaged in power generation.

EMEA Finance is among the leading information sources for the finance industry, delivering compelling and relevant reporting about the activities, challenges and opportunities that exist in one of the world’s most dynamic and emerging regions — the combined emerging Europe, Middle East and Africa. Awards are set to be presented to winners at the magazine’s annual awards ceremony taking place in Dubai in February 2019.