Citi announced on Tuesday that it has been granted a license by Abu Dhabi Global Market (ADGM) to set up a branch of Citibank NA at ADGM. This was announced during the visit of Mike Corbat, chief executive officer of Citigroup, to Abu Dhabi at an exclusive event at the ADGM Authorities Building hosted by Ahmed Ali Al-Sayegh, minister of state (UAE) and chairman of ADGM. The new Citi branch will be set up at ADGM, an eminent international financial center in the UAE capital with a robust regulatory framework, and will provide cutting-edge liquidity management solutions to Citi’s clients looking to establish regional treasury centers in the UAE. Upon receiving final approval from the Financial Services Regulatory Authority (FSRA) of ADGM, the branch will also offer the full suite of Citi’s institutional banking capabilities to its global clients. Elissar Farah Antonios, Citi country officer-UAE, said: “The UAE is an important market with tremendous potential for Citi. The ADGM platform complements our footprint in the region and enables us to engage in a wide spectrum of wholesale banking business out of Abu Dhabi.” Richard Teng, chief executive, FSRA, said: “We warmly welcome Citi to the ADGM family, joining us in enhancing Abu Dhabi’s position as a leading global financial hub and strengthening the UAE’s long-term economic plans.”
Marriott hotel, apartments open in Riyadh’s DQ
Marriott International and Dur Hospitality this week celebrated the opening of the Riyadh Marriott Hotel Diplomatic Quarter and Marriott Executive Apartments Riyadh, Diplomatic Quarter. The complex is strategically located in the heart of one of the most sought-after areas in the city with easy access to key embassies and major corporate headquarters, and a 30-minute drive from King Khalid International Airport.
“We are delighted to enhance our footprint in Saudi Arabia with the opening of two strategically important hotels that not only complement each other but also deliver very distinct brand experiences. Saudi Arabia continues to be one of our key markets and we are delighted to further strengthen our partnership with Dur Hospitality,” said Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International.
The hotel is inspired by Wadi Hanifa, a beautiful desert oasis running through Riyadh. The low-rise hotel resembles the smooth, dry canyon walls that make for a dramatic arrival experience. Once you step inside, the waterways guide the way into the building, ushering guests through the arrival court into the palm-dotted oasis in the hotel’s courtyard. Planted cacti, flowering vines, plentiful blooming desert flora and native date palm trees create a calming ambiance, providing shade from the desert sun.
The complex is the first five-star full service hotel in the Diplomatic Quarter and features 80 spacious modern rooms, and 140 fully equipped apartments. The deluxe rooms feature modern décor and ample work space, allowing guests to stay connected with in-room technology, including high-speed WiFi and bedside USB outlets. Guests staying in one of the six Premium Suites or the Presidential Suite can enrich their experience in the M Club Lounge offering an international buffet, hors d’oeuvre and local specialties 24 hours a day.
The Riyadh Marriott Hotel Diplomatic Quarter houses three dining venues, Goji Kitchen — an all-day dining destination, a la carte restaurant Mesquite and Agave Café located in the lobby. The hotel offers multiple recreational areas surrounded by lush greenery.
Muin Serhan, general manager of Marriott Hotels in Riyadh, said: “The opening of Marriott Riyadh and Marriott Executive Apartments Riyadh Diplomatic Quarter is considered an important milestone in our developing journey in the hospitality field; we are keen to provide a very special experience to our valuable guests whatever they are traveling for — business or leisure.”
He added: “And we are very proud to be part of the new Marriott travel program ‘Marriott Bonvoy,’ built on the belief that travel enriches its members and the world around them. Launching in February 2019, Marriott Bonvoy replaces Marriott Rewards, The Ritz-Carlton Rewards and Starwood Preferred Guest (SPG).”
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