Abdul Latif Jameel Land breaks ground on Dari Q

The residential project is located in the Al-Salama district of North Jeddah.
Updated 17 June 2019

Abdul Latif Jameel Land breaks ground on Dari Q

Abdul Latif Jameel Land, a residential and commercial real estate developer in Saudi Arabia, has begun development on their second residential project Dari Q — a development of 158 premium apartments with integrated community amenities.
The project is located in the Al-Salama district of North Jeddah.
“Customer-centricity and community living, key pillars of the Abdul Latif Jameel Land development philosophy, lie at the heart of the property’s design. The project is launched under the same integrated lifestyle and community-focused approach of the award-winning J-ONE development,” the company said.
The residential development combines a variety of spacious apartments with a diverse range of amenities. Consisting of two buildings and broken into four quarters, the two-bedroom apartments have three floor plans, the three-bedroom properties have seven floor plans, and the four-bedroom homes have three floor plans — a total of 13 different floor plans on offer. The complex will also house retail outlets, rooftop gardens, a rooftop swimming pool, a gymnasium, an outdoor seating area, a multipurpose yard (with soccer, tennis, basketball and volleyball courts), a games room, a ballroom with seating for up to 90 guests, and a guest lounge.
Mohammed Abdul Latif Jameel, chairman and CEO of Abdul Latif Jameel, said: “Abdul Latif Jameel Land continues its pioneering approach to residential development with the launch of Dari Q. Building on the success of community-focused living in Jeddah’s J-ONE and Gallery N, we are proud to begin development of this third incredible residential property in Saudi Arabia. Dari Q is another proud step as we continue to support residential development and housing ownership goals identified in Saudi Vision 2030, and remain committed to offering community-focused solutions to residential demand in the market.”
The start of construction also marks the launch of individual properties on a pre-sales basis (off-plan sales), with the duration of the project expected to take 18 months.

SAMI acquires Aircraft Accessories & Components Co. Ltd.

Updated 1 min 9 sec ago

SAMI acquires Aircraft Accessories & Components Co. Ltd.

Saudi Arabian Military Industries (SAMI) has acquired a majority stake in Aircraft Accessories & Components Co. Ltd. (AACC), a Saudi entity of the Economic Offset Program. The move is part of its ongoing efforts to develop a sustainable domestic defense sector in Saudi Arabia. 

AACC focuses on maintenance, repair and overhaul (MRO) for aircraft hydraulics and secondary power systems (SPS) for multiple platforms. Following the acquisition by SAMI, the scope of operations of AACC will be expanded to include repairing and maintaining civil aircraft landing gear and increasing nondestructive testing (NDT) and helicopter maintenance capabilities, among other services. The acquisition will also enable the company to expand its services to the Middle East and North Africa (MENA) markets. 

Dr. Andreas Schwer, CEO of SAMI, said: “Acquiring a majority stake in Aircraft Accessories & Components Co. Ltd. is a key factor in the strategic development of SAMI. The MRO market promises tremendous opportunities for us. All the necessary tools are already in place, and in the near future, we will add MRO for landing gear to AACC’s services.” 

Dr. Mansour Al-Eid, CEO of AACC, said that the acquisition of the company by SAMI is an important step in the development of AACC, which will allow the company to expand the scope of its services, invest in local talent, reach new markets, and develop its capabilities to better serve its customers, as well as invest in manufacturing spare parts for aircraft. 

Dr. Al-Eid added: “The aviation industry in Saudi Arabia is booming in conjunction with the establishment of SAMI and the General Authority for Military Industries (GAMI). They will both contribute to the localization of military industries, invest in building local capabilities, create jobs for Saudi citizens, and join efforts with national companies to achieve the objectives of Saudi Vision 2030.” 

The Royal Saudi Air Force has recently agreed to a contract with AACC to overhaul and purchase landing gear for multi-role tanker transport aircraft. 

AACC currently overhauls landing gear for military aircraft and is cooperating with Safran Landing Systems, a global leader in aircraft landing and braking systems, to develop the capability to overhaul landing gear for civil aircraft in the Gulf and MENA regions. This cooperation will serve as the cornerstone for establishing the new capability, opening up those markets for the company.