Bab Rizq Jameel Microfinance offers loans to help Saudis

Updated 10 July 2018

Bab Rizq Jameel Microfinance offers loans to help Saudis

Bab Rizq Jameel, part of Community Jameel, has expanded its support to entrepreneurs, small- and medium-sized enterprises (SMEs) and productive families in Saudi Arabia with the establishment of Bab Rizq Jameel Microfinance to offer Shariah-compliant loans with easy payment plans for young Saudi men and women. 

The first company licensed by the Saudi Arabian Monetary Authority (SAMA) for microfinance activities in Saudi Arabia, Bab Rizq Jameel Microfinance is providing financing through its branches across Saudi Arabia or via its online e-portal for SMEs and beneficiaries from its productive families and home-based work programs. 

Customers can choose from a wide range of microfinance products, including productive family finance (exclusively for women), home business finance (to support home-based projects) and other products for small businesses and entrepreneurs. The company offers flexible and affordable payment plans with easy monthly installments. 

Nadin Abdullah, general manager of Bab Rizq Jameel Microfinance, said: “Today, Bab Rizq Jameel introduces new and expanded facilities to serve its customers through its diversified programs and its branches across Saudi Arabia. These efforts are aimed at creating job opportunities that contribute to social and economic development, help reduce unemployment and improve living conditions by providing the necessary financing to grow existing SMEs and encourage new startups. Bab Rizq Jameel Microfinance aspires to be a partner in building Saudi Arabia and achieving Vision 2030.”

Since 2003, Bab Rizq Jameel has supported tens of thousands of entrepreneurs, SMEs and productive families in the Kingdom of Saudi Arabia through the interest-free loans, helped more than 248,000 Saudi women in their work through the productive household support program, and supported over 32,000 small businesses in Saudi Arabia through various initiatives, such as the taxi ownership program. The total value of loans exceeded SR2 billion ($533 million). 

Emaar reopens historic Al-Alamein Hotel

Updated 17 July 2018

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.