THE WAVE/KEMPINSKI
The Wave, Muscat has finalized its agreement with Kempinski Hotels by signing a hotel management and ancillary agreement at The Wave, Muscat premises. The signing ceremony took place on the site of the new hotel. The agreement combines the strength of Kempinski’s experience in developing and managing luxury hotel developments with The Wave, Muscat’s commitment to set the standards in luxury real estate development in Oman. Abdullah bin Abbas bin Ahmed, chairman of the board of directors at The Wave, Muscat and Reto Wittwer, president and CEO, Kempinski Hotels, signed the agreement. Together, Kempinski and The Wave, Muscat will use all their expertise to ensure delivery of a world-class product, synonymous with both brands. “I am delighted to be welcoming Kempinski to The Wave, Muscat,” Nick Smith, CEO, The Wave, Muscat said. “The Wave, Muscat represents Kempinski’s entry into Oman and we are thrilled to be part of this distinguished and cosmopolitan development,” Reto Wittwer, president and CEO, Kempinski Hotels, said. The Wave, Muscat, a joint venture between Oman’s Waterfront Investments, National Investment Funds Company and UAE-based Majid Al-Futtaim Group, has received five prestigious international and regional design awards in 2007 from CNBC Arabian Properties and Homes Overseas.
RIKAZ
Rikaz Properties is leading a consortium formed with Bin Dayel Group and Tanmiyat Investment Group to acquire Jubail-based Al-Rawda Development in Saudi Arabia, which covers a two million square-meter area and is already equipped with the infrastructure needed for the development of modern residential complexes and commercial towers. The new alliance coincides with a period of increasing demand for residential units in the Kingdom’s real estate sector and with the establishment of new projects countrywide to cater to the rising demand for all real estate components. Current demand for housing in the Kingdom is far outstripping supply. Statistics show that the housing market is in need of around 1.2 million residential units, with this number likely to increase to around 2.9 million over the next twenty years. Mohammed bin Rashid bin Dayel, chairman of Bin Dayel Group, said: “We are proud to join hands with Rikaz Properties and Tanmiyat Investment Group and invest in this highly strategic project. The reliable local and regional market knowledge and experience brought to the table by partners of such caliber will contribute significantly to the value of the project, ensuring the delivery of high quality housing units and sound financial results.” Located on the Arabian Gulf, Jubail is considered the center for future national economic growth by the Kingdom.
ALJCSP
Abdul Latif Jameel Community Services Programs (AIJCSP) has introduced a series of commercials addressing Saudi and Arab society, in cooperation with 3 Points, a Saudi advertising agency. The commercials show the importance of values like passion, respect and appreciation. The commercials are produced in line with “Role model” programs, which consist of a series of commercials that aim to spread the noble values. Started in 2003, ALJCSP introduced four commercials in cooperation with Drive Communications to promote the values of vocational work under the theme “I am proud” in which youth were encouraged to adventure fields including cooking, taxi driving and tailoring. It then launched six commercials to encourage youth to get married. Other commercials that it produced encouraged people to wear the safety belt while driving and quit smoking. ALJCSP cooperated with the Stop Advertising to produce three other commercials to encourage youth to start taking initiatives and own small projects. “We are planning to produce more educational commercials with the help of the media to promote the concept of role model,” ALJCSP President Mohammed Abdul Latif Jameel said.
PANASONIC
Panasonic recently launched in Dubai two new compact cameras in its top of the range LUMIX FX series. The FX38 and the FX180 both feature a trendy and stylish design and incorporate Panasonic’s latest innovations. The DMC-FX38 features 10.1-megapixel resolution, a 25mm ultra-wide-angle LEICA DC lens and powerful 5x optical zoom, while the FX180 boasts astonishing 14.7-megapixel resolution, a 28mm wide-angle lens and 3.6x optical zoom. Panasonic Marketing Middle East Product Manager Yasuo Kimoto says that the two cameras are the latest FX series editions, which provide high picture quality, ease of use and unique features in a sophisticated package. The new “AF tracking” function allows the user to “lock” the focus onto a moving subject. The camera then automatically tracks the subject as it moves, keeping it in focus without the user having to hold the shutter button halfway down. This makes it easier to capture that perfect moment clearly and in focus. Both cameras will be exhibited at the Panasonic stand during GITEX and available on the local market from November onward.
SWICORP
Swicorp Joussour Company, a Saudi Joint Stock Company capitalized at SR2.67 billion managed by Swicorp, announced in Riyadh that it has acquired a strategic stake in RAK Ghani Glass LLC in a joint venture with RAK Investment Authority, JS Group and Ghani Glass Ltd. RAK Ghani is in the process of setting up a state-of-the-art pharmaceutical glass plant that will be the first of its kind in the GCC region. The plant’s initial annual capacity will be 45,000 tons (equivalent to 600 million light-weight pharma grade bottles). The company plans to distribute the product in the Middle East, Europe and Asia. RAK Ghani is situated on 100,000 square meter land in Ras Al-Khaimah’s industrial zone, located in the north of the United Arab Emirates, and is expected to be commissioned by October 2008 with commercial production expected to commence by December 2008. “We believe RAK Ghani is ideally positioned to capture this demand growth for light-weight, high-quality pharmaceutical bottles across the GCC, Asia and European markets,” Shahid Khan, investment director, Swicorp Private Equity, said. “This is Joussour’s second investment in the glass sector and we continue to believe in the sector,” said Faysal Hamza, executive director, Swicorp Private Equity. “The team is working very hard on completing the project and we are on schedule to start production by December 2008,” Imtiaz Ahmed Khan, CEO of RAK Ghani, said.
AAKAR
The UAE is expecting to attract 11.2 million tourists by 2010, signifying the success of considerable efforts by various governments including Dubai, Abu Dhabi and Ras Al-Khaimah to invest into the growth and development of the hotel and hospitality industry in the country. With aims to leverage the booming tourism sector, AAKAR Marjan Island LLC, an emerging leader in luxury community developments in the Middle East, has announced that its AED600 million luxury hotel and residential apartment complex located on the largest island of the “Al Marjan Islands” development in RAK will be completed by 2010. The announcement follows the recent handover of a 281,000 sq. ft. plot by Rakeen, the master developers of the “Al Marjan Island’s” development. AAKAR Marjan Island’s multimillion dirham hotel and residential apartment complex is set to be one of the latest world-class tourist attractions, which the UAE is set to offer global, regional and local tourists. “The speedy development of the UAE real estate sector is something that we are seeking to leverage through the launch of our luxury hotel and residential venture on the Al Marjan Islands,” said Yadvinder Singh, CEO and president, AAKAR Marjan Island.
CHEVROLET
Chevrolet aficionados have enjoyed a winning summer with some SR2 million in prize money and 20 Epica cars up for grabs in the great Chevrolet Summer Promotion. The brand’s four dealers in the Kingdom — Abdudullatif Alissa Automotive Company, Aljomaih Automotive Company, Omar A. Balubaid Company, and Universal Motors Agencies — held the promotion jointly. The winner of the SR1 million first prize has been named as Bander Al-Sa’adi, while Aisha Abed Al Sharari and Ali Balgasim Al-Faqqih took home SR500,000 each. “I am dedicating the prize to my family, and we will use this money to make our dreams come true by building our own house,” Al-Sa’adi said. To date, GM has presented Epicas to ten winners in two previous draws. Khalid Al-Swaid, Falah Al-Matiri, Omar Bernawi, Bader Al-Sannah and Muhammad Alawi were the five winners announced after the first draw on July 1, while Mohammad Al-Daini, Turki Al-Jahdali, Yasser Al-Assiri, Tami Al-Assiri, and Sultan Al-Otaibi won in the second draw on July 15. “This year’s promotion coincides with General Motors’ celebration of its 100th anniversary, and offers consumers the chance to win a range of prizes. We have made it even bigger and better than before, offering our customers excellent value for money, and the prize winners have been delighted.” said Steve Braun, regional director- Saudi Arabia, Bahrain, and Yemen at General Motors Middle East Operation.
OGS
The 15th edition of OGS 2008, the premier technical and engineering event for the region’s energy and automation sectors, including oil, gas, electricity, water and petrochemical exhibition, will be held from Oct. 28-30 at Dubai International Convention and Exhibition Center under the theme ‘Cultivating Synergy in Energy’. OGS 2008 provides a consolidating platform for the energy sector, particularly in the GCC region. OGS 2008 is being hosted on a reworked format that will hold four segments concurrently — Oil and gas; electricity and water technology; instrumentation, automation and laboratory technology 2008; and OGS Careers Expo. The Careers Expo is a key feature of this year’s event and offers the region’s only dedicated job fair for engineers and technical professionals from different sectors, including oil, gas, renewable energy, water and automation, among others. “OGS has, over the years, come into its own as a technical and engineering event that cuts across the automation and expertise at the heart of oil, gas, water, electricity and general industry. It offers solid opportunities for business-to-business trade in key energy and industry sectors,” said Anselm Godinho, MD, International Conferences and Exhibitions.
DMCC
Bilateral diamond and jewelry trade between the Middle East and China will be in the spotlight at the forthcoming Middle East Diamond and Jewelry Summit, according to an announcement from Dubai Multi Commodities Center (DMCC). The summit, with its special focus on the Middle East-China diamond and jewelry trade, aims to enhance trade relationships across the entire value chain of this fast-growing industry in both regions. To be held from Nov. 8-9 at the Atlantis Hotel, Palm Jumeirah, Dubai, the inaugural two-day summit has generated tremendous response from China and Hong Kong’s diamond and jewelry industry. Peter Meeus, executive director diamonds, DMCC, said the summit was ideally positioned to highlight the growing trade opportunities between the Middle East and China. “Growth in the Middle East, Mainland China and Hong Kong has been unmatched in comparison to any other place in the world. DMCC wants to bring these “New Titans of the jewelry world” together, both from the Middle East, including Saudi Arabia and Turkey, as well as from Mainland China and Hong Kong,” Meeus said: “The summit will provide our members the opportunity to discover a new emerging market, while at the same time giving them a platform to develop new business relationships,” Lawrence Yung Yi Ma, president, Diamond Federation of Hong Kong, said.