Naif Alrajhi, NOREBA sign partnership agreement

The contract was signed by Sulaiman bin Saleh bin Sulaiman Alrajhi, NOREBA’s managing director in Morocco, and Naif bin Saleh Alabdulaziz Alrajhi, CEO of Naif Alrajhi Investment.
Updated 11 September 2018
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Naif Alrajhi, NOREBA sign partnership agreement

Real estate development company NOREBA, Morocco and Naif Alrajhi Investment have signed a partnership agreement that aims to develop projects worth over a billion Moroccan dirhams ($106.1 million).

The contract was signed by Sulaiman bin Saleh bin Sulaiman Alrajhi, NOREBA’s managing director in Morocco, and Naif bin Saleh Alabdulaziz Alrajhi, CEO of Naif Alrajhi Investment. 

Sulaiman Alrajhi said that the strategic partnership aims at developing and enriching the company’s business, and that it is the result of extended studies and experience within the real estate market in Morocco. “The agreement aims to develop more premium residential and commercial projects to be sold in the future, turning NOREBA into one of the most influential real estate companies in Morocco and North Africa,” he added.

Naif Alrajhi said: “Our partnership with the leading real estate development company in Morocco, NOREBA, has a great added value for our company and will be a gateway for us to enter the Moroccan markets that will be a starting point for more investments in North Africa, as it all falls within the framework of our strategic plan to diversify our investment range and to strengthen our presence in several markets and fields.”

Both parties have stated that the partnership will strengthen Saudi-Moroccan relations through business initiatives that serve the best interest of both the countries.


King Abdullah Port sponsors logistics forum

Updated 18 September 2018
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King Abdullah Port sponsors logistics forum

King Abdullah Port has signed an agreement to sponsor the Supply Chain and Logistics Conference organized by the Transport Ministry. The conference, which will take place on Oct. 15-16 in Riyadh, will be held under the patronage of Transport Minister Dr. Nabil M. Al-Amoudi. Decision-makers, experts and officials from major local and international companies involved in the supply chain and logistics sector are expected to attend.

Highlighting the importance of participating in the event, Rayan Qutub, CEO of King Abdullah Port, said: “Our sponsorship of the conference comes within our commitment to cooperate and exchange expertise with the active players of the logistics sector, which recently has been witnessing major developments in terms of business volume, innovation and solutions that complement Vision 2030 and transform Saudi Arabia into a global logistics hub by promoting its position on the Logistics Performance Index issued by the World Bank.”

“Saudi Arabia has a number of components and facilities that enable it to play a key role in this sector at the regional and global levels, and we will play our part in showcasing the best King Abdullah Port has to offer in the logistics sector, such as solutions and facilitation for investors based on the port’s strategic location on the Red Sea. The port is on the main shipping line between the East and West, which significantly enhances the Kingdom’s competitiveness and positions it among the key countries in global trade,” he added.

Qutub will participate in a session for CEOs, where participants will discuss strategic decisions to reshape and keep pace with the global system of supply chains and logistics.

King Abdullah Port previously announced an increase in container handling reaching 1,236,075 TEU during the first half of 2018, marking a new record of 50.5 percent increase compared to the same period last year. Earlier, the port announced a 21 percent increase in its annual throughput by the end of 2017, making it the second largest port in the Kingdom in terms of container handling. 

Run by the Ports Development Company, King Abdullah Port is the region’s first port to be fully owned, developed and operated by the private sector. It has been listed as the fastest growing container port in the world and one of the world’s top 100 ports after less than four years of operation. Eight of the largest shipping lines work at the port, which offers integrated services to exporters and importers.