NCB Capital launches Pan European Real Estate Fund

NCB Capital launches Pan European Real Estate Fund
Updated 05 April 2017

NCB Capital launches Pan European Real Estate Fund

NCB Capital launches Pan European Real Estate Fund

NCB Capital, Saudi Arabia’s leading provider of wealth management and investment services, and the Kingdom’s largest asset manager, has announced the launch of its Pan European Real Estate Fund with more than $150 million raised through a private placement.
NCB Capital has partnered with Fidelity International, a leading global asset manager, to invest in commercial properties, including office, retail, logistics/industrial and mixed use, located in key European property markets including France, Germany, Benelux and the United Kingdom. Favorable currency conversion rates, robust legal and regulatory environments, coupled with consistent growth expectations of the core European economies make this an opportune time to invest in a solid real estate market.
“NCB Capital is dedicated to creating a robust set of domestic and international investment solutions to meet the needs of its clients,” said Sarah Jammaz Al-Suhaimi, NCB Capital’s CEO. “With the Euro and the British Pound below their long-term averages, the impact of Brexit on real estate capital values in the UK and the positive sentiment in the Eurozone, these conditions create a good entry point for our clients to diversify into the European real estate market.”


Rosewood Jeddah hosts ‘Arabian Nights’ in Ramadan

Rosewood Jeddah hosts ‘Arabian Nights’ in Ramadan
Updated 19 April 2021

Rosewood Jeddah hosts ‘Arabian Nights’ in Ramadan

Rosewood Jeddah hosts ‘Arabian Nights’ in Ramadan

No matter how much the world changes, timeless traditions will always be worth treasuring. Amid the rich heritage and culture of the Middle East, Rosewood Jeddah offers a magical setting for celebrating the spirit of Ramadan and coming together in a venue, where the desert meets the sea in a display of majestic splendor. 

Guests are invited to tuck into the hotel’s Arabian Nights-themed sahoor and iftar fare that serves the best of Saudi Arabian, Moroccan, Egyptian, Syrian and Lebanese flavors. Surrounded by breathtaking views straight out of the beloved stories, Habsburg complements its mouthwatering cuisine with its dedication to service, ensuring memorable dining experiences at affordable prices for groups or individuals. 

For guests looking to bask in the charm of an oasis-inspired backdrop, Soleil offers a cocoon of tranquility for cozy gatherings among families and friends. Bringing scenes from the Arabian Nights to life with its distinct decor, the lounge’s warm and welcoming ambience sets the tone for evenings to remember.

 On top of special menus at both restaurants, guests will be able to savor mezzeh assortments and drinks at their table with a selection of soups, grilled classics, clay pot mains, and desserts from the iftar food carts. The hotel will also offer group booking options for business gatherings of up to 100 people at Habsburg restaurant.

In light of the COVID-19 pandemic, Rosewood Jeddah is taking all the necessary precautions and protocols mandated by the government to provide a safe and comfortable environment for all its guests. The restaurants will be operating at a 50 percent capacity to allow for social distancing and greater peace of mind.

“Ramadan is all about remembering what matters and sharing moments with the people who matter,” said Mazen Allam, managing director of Rosewood Jeddah Hotel. “With our guests’ health and safety as our top priority at all times, we are looking forward to providing families and friends with the opportunity to celebrate a meaningful occasion — and life itself.”

The award-winning Rosewood Jeddah is a flawless combination of spectacular design and unprecedented sophistication. Ideal for both the business and leisure traveler, the hotel is situated on the Jeddah Corniche, one of the city’s most impressive locales, which runs parallel to the Red Sea for more than 20 miles. It is within easy reach of key business, diplomatic, government and designer shopping districts. 

The hotel features individually designed and handcrafted rooms. The 101 guest rooms and 26 suites are elegantly furnished and reflect a contemporary aesthetic. Many offer stunning views of the Red Sea and all enjoy 24-hour butler service and state-of-the-art entertainment and business solutions. 

Those interested to book iftar or sahoor can contact Rosewood Jeddah at +966 12 260 7111.


MBRCH expands food campaign to 10 countries

MBRCH expands food campaign to 10 countries
Updated 19 April 2021

MBRCH expands food campaign to 10 countries

MBRCH expands food campaign to 10 countries

Coinciding with the “100 Million Meals” campaign, the Mohammed bin Rashid Al-Maktoum Humanitarian and Charity Establishment (MBRCH) announced the expansion of food relief operations to 10 additional countries.

The MBRCH will finance and implement food support operations in a new list of countries including Benin and Senegal in Africa, Kazakhstan, Uzbekistan, Tajikistan, Afghanistan, Kyrgyzstan and Nepal in Asia, Kosovo in Europe, and Brazil in South America, thus contributing to financing the “100 Million Meals” campaign efforts in 30 countries, and carrying out on-ground distribution operations in 17 of them.

The “100 Million Meals” campaign, launched on April 11, aims to provide food parcels for disadvantaged individuals and families across 20 countries in the Middle East, Asia, and Africa during the holy month of Ramadan.

The MBRCH is working with the campaign’s organizer, the Mohammed bin Rashid Al-Maktoum Global Initiatives (MBRGI), in collaboration with the United Nations World Food Program, the Food Banking Regional Network, and local humanitarian organizations to ensure swift and integrated food distribution to beneficiaries in target countries.

MBRCH also earlier announced a donation of 20 million dirhams ($5.4 million) to the campaign to provide 20 million meals for vulnerable communities.

Ibrahim Boumelha, adviser for humanitarian and cultural affairs to the ruler of Dubai, and vice chairman of the board of trustees of MBRCH, said the establishment has channeled its resources to support the objectives of the “100 Million Meals” campaign.

He added that MBRCH is working closely with all partners involved to ensure the food aid reaches their beneficiaries as quickly as possible.

Boumelha stressed that the success of the campaign is widely attributed to the close cooperation of all segments of society, with its entities, the public and logistic partners. “Partnering entities on the ground particularly bear the big responsibility of ensuring food parcels reach everyone in need, at a great time of need. The campaign reflects the UAE’s dedicated humanitarian efforts to vulnerable and low-income communities across the world, regardless of religion, race or nationality,” he added.

Since its inception in 1997, the MBRCH has been implementing local and international projects in the fields of relief, healthcare, social support, education and orphan care.

MBRCH’s local projects include health programs, financial aid, educational programs, zakat, food vouchers and the Mir Ramadan program, construction and housing maintenance, seasonal projects, and community partnership.


LuLu’s Ramadan campaign a mix of retail offers, charity activities

LuLu’s Ramadan campaign a mix of retail offers, charity activities
Updated 17 April 2021

LuLu’s Ramadan campaign a mix of retail offers, charity activities

LuLu’s Ramadan campaign a mix of retail offers, charity activities

LuLu is highlighting a host of retail promotions and charity activities in its Ramadan campaign this year.

In an effort to improve customer experience and make shopping easy and affordable during Ramadan, LuLu has introduced its pre-packed Ramadan kit for SR99 ($26), which has been especially created for essential shopping and donation.

In partnership with Saudi Food Bank, these kits along with the iftar boxes (priced at SR15 each) will be distributed to the needy and charity groups. An agreement was signed between Abdul Rahman Al-Huzaimi, regional manager of Saudi Food Bank in Riyadh, and Bashar Al-Besher, administration director of LuLu Hypermarkets, Saudi Arabia, in the presence of Shehim Mohammed, director of LuLu Hypermarkets, Saudi Arabia, LuLu officials, and other guests.

These kits are priced lower than the regular market price and have grocery products, such as rice, milk powder, sugar, oil, and others. LuLu’s Ramadan kits are available across all its stores and online via www.luluhypermarket.com.

Mohammed said: “As the current pandemic situation continues to restrict the majority with smaller gatherings and with more people staying at home, we launched products offers and Ramadan kits to make grocery shopping easier and more convenient. Our promotion sections in stores are fuller and wider with lots of product essentials offered with great discounts. The same offers are also boosted in our online shopping with deals and promotions to ensure safe shopping for those who do not want to buy from stores.”

LuLu will also launch traditional food stations at its stores celebrating essential delicacies savored in the holy month. 

The food stations will host themed events such as the Meat Fest, Dates and Nuts, Iftar Delights and Dessert Festival. Moreover, LuLu has introduced “Souk Al-Fawakeh” to provide customers with fresh fruits and vegetables at competitive prices in bulk packages. It features 30 exotic fruits for the entire month.

In keeping with the spirit of giving in the holy month, LuLu has launched Ramadan-themed cards, which are available at SR15 and SR150.

Abdulla Hamdan, marketing manager of LuLu Hypermarkets Saudi Arabia, said: “We’re glad to launch these Ramadan-themed cards for our customers, in line with our goal to make their shopping experience unique, especially during important occasions like Ramadan. Since gathering in large groups for iftar is restricted to prioritize the health and safety of everyone, this card is a perfect choice for gifting. 

“It is a convenient way to show your loved ones that you remember them and care for them in the midst of these challenging times.”

In collaboration with Saudi Food Bank, LuLu has launched iftar boxes featuring convenient packs of after-fasting essential meals that customers can buy for SR15 each. There is also an option to donate SR15 through the cash counters.

In collaboration with the Kayl Association for Combating Obesity, LuLu launched the “Health is Wealth” campaign to raise awareness on obesity and its risks to health along with the importance of limiting its spread among the community. For every purchase of a healthy iftar or sahoor meal, 5 percent will be donated to the charitable organization.


Uber offers discounted rides to people getting the jab

Uber offers discounted rides to people getting the jab
Updated 17 April 2021

Uber offers discounted rides to people getting the jab

Uber offers discounted rides to people getting the jab

This Ramadan, Uber has announced it will offer discounted rides to people looking to receive their first COVID-19 vaccination dose in Riyadh, Jeddah, Makkah and the Eastern Province in Saudi Arabia. The initiative is part of Uber’s global campaign to help communities “move what matters,” supporting public authorities in the Kingdom as they work to fight the spread of the COVID-19 pandemic.

Riders will be able to avail 25 percent off two Uber rides, up to SR20 ($5.3) each to and from public vaccination centers across the Kingdom. The applicable centers are listed in the Sehhaty app, developed by the Ministry of Health to advance healthcare in the Kingdom. The offer came into effect from April 12 and will run until May.

Mohammad Gazzaz, general manager, Saudi Arabia at Uber, said: “We want to support the government’s efforts to vaccinate more of the population and ultimately contain the spread of the virus. Since the onset of the pandemic, we’ve worked to enhance health and safety for both riders and drivers, and the vaccination drive is another step in the process to help people prioritize their health and safety and facilitate mobility around the city.”

How to claim your ride:

• Tap on the top left of the Uber app and select “Wallet.”

• Select “Add Voucher Code” at the bottom.

• Click on the voucher link KSAVACCINE and get 25 percent off two Uber rides to/from vaccination centers up to SR20 each, valid until May 11.

• Navigate to the rides home screen and enter the pickup/drop-off location for yourself or the person you are booking for. The trip must start or end at the vaccination centers listed on the Sehhaty app.


Bupa Arabia named Middle East’s most valuable insurance brand

Bupa Arabia named Middle East’s most valuable insurance brand
Updated 17 April 2021

Bupa Arabia named Middle East’s most valuable insurance brand

Bupa Arabia named Middle East’s most valuable insurance brand

Bupa Arabia for Cooperative Insurance has been named as the Middle East’s most valuable insurance provider, in the annual report for 2021 by Brand Finance, the world’s leading independent brand valuation consultancy headquartered in London.

The report noted that Bupa Arabia’s strong financial forecasts have driven its brand value up by 23 percent to $618 million (SR2.31 billion).

Bupa Arabia’s innovative insurance solutions and unique initiatives in line with Saudi Arabia’s Council of Cooperative Health Insurance has taken the company from strength to strength over the past 20 years, making it a national leader and provider of healthcare services for millions of national and residents in the Kingdom.

Meanwhile, Bupa Arabia ranked 13th in Brand Finance’s “Top 50 most valuable Saudi Arabian brands” list, moving six notches up the scale from last year.

Tal Nazer, CEO and member of board of directors, Bupa Arabia, attributed the company’s advancing position in the Brand Finance rankings to the successful strategies implemented by Bupa Arabia.

He said: “This has been evident through the adoption of the concept of ‘making change’ in the local healthcare sector, the commitment to improving the customer’s overall health, and upgrading its digital solutions through the Bupa Click campaign under the inspiring slogan ‘Integrated healthcare only one click away.’

“Additionally, Bupa Arabia’s Tebtom program offers a set of healthcare services that go beyond medical insurance coverage, such as home-based vaccination for children, doctors, telemedicine services among others, while our Rahatkom program is designed to make hospital experiences positive and stress-free by supporting customers when and where it matters, focusing on on-site case management, quick coverage responsiveness and post-admission services.”

Brand Finance was set up in 1996 with the aim of “bridging the gap between marketing and finance.” 

Every year, the agency undertakes the world’s largest study on brand valuation, ranking over 5,000 of the world’s biggest brands across all sectors and geographies.