UBS Saudi Arabia appoints Ghassan Soufi as desk head

Ghassan Soufi
Updated 17 September 2019

UBS Saudi Arabia appoints Ghassan Soufi as desk head

UBS has announced the appointment of Ghassan Soufi as the new desk head for its Saudi division.

Having previously worked at Samba, Soufi brings more than 25 years of experience in the Saudi market.

Soufi holds a bachelor’s degree in computer science and an MBA from George Washington University in the US.

Ali Janoudi, head of wealth management for Central and Eastern Europe, Middle East and Africa, and UBS Saudi Arabia vice chairman, said: “We are delighted that Ghassan Soufi will bring his in-depth market knowledge to our team at UBS. He will help us drive growth and further his successful track record of building excellent client relationships in the Kingdom.”

UBS Head of Wealth Management Saudi Arabia Abdallah Najia added: “Ghassan will be crucial in identifying and hiring top talent locally and leading our on-shore client acquisition strategy. We are excited to welcome him to our team.”

Soufi joined UBS Saudi Arabia on Sept. 15 and will be based in Riyadh.


Al-Khomra to transform KSA into global logistics hub

Al-Khomra Logistics Zone is expected to open up new investment and business opportunities and promote strategic partnerships with the private sector.
Updated 21 October 2019

Al-Khomra to transform KSA into global logistics hub

The Saudi Ports Authority (Mawani) has announced the launch of Al-Khomra Logistics Zone, Saudi Arabia’s largest integrated logistics zone, during its participation in the Saudi Logistics Conference, which took place between Oct. 13 and 15th in Riyadh.
The first phase of the project is set to cover a land area of over 2 million square meters, with over 1 million square meters of gross flat area that will be made available to investors under a lease model.
Al-Khomra seeks to provide an advanced infrastructure and added-value services that will actively contribute toward positioning Saudi Arabia as a global logistics hub while raising its competitiveness on investment and services fronts as outlined within Saudi Vision 2030.
President of Mawani Saad bin Abdul Aziz Alkhalb described Al-Khomra as a major leap for the logistics sector in Saudi Arabia. He said the new logistics zone is expected to open up new investment and business opportunities and promote strategic partnerships with the private sector that will further contribute toward the development of the maritime trade and enhance the quality of operational and logistics procedures and services.
Alkhalb underlined the significance of Al-Khomra Logistics Zone due to its proximity to international trade routes, its strategic location in Jeddah and proximity to the Jeddah Islamic Port, making it a global logistics platform and a major hub connecting the Middle East, Africa and Europe.
“Al-Khomra is characterized by its highly efficient road network connecting Jeddah Islamic Port, King Abdul Aziz International Airport and the upcoming Saudi Landbridge Project, along other various main roads in the Kingdom,” he added.

FASTFACT

The first phase of the project is set to cover a land area of over 2 million square meters, with over 1 million square meters of gross flat area that will be made available to investors under a lease model.

Al-Khomra’s location along the Red Sea coast, a major passageway for more than 13 percent of global maritime trade, will make it a vital hub on the Silk Road maritime trade route launched within the Belt and Road Initiative (BRI).
Moreover, Saudi Arabia’s strategic location as a hub connecting Middle East with Europe and Africa, alongside its robust economy, will help transform the Kingdom into a pioneering global logistics hub. These factors offer an attractive package for investors interested in capitalizing on the lands owned by Mawani and building partnerships with the authority to develop full-fledged logistics zones, including the newly announced Al-Khomra Logistics Zone.
Mawani had launched a strategic plan to optimize the massive potential and capacity of Saudi Arabia’s ports, which outperform the local demand by 50 percent, through offering integrated logistics services, advanced bonded and re-export zones and competitive world-class services to the private sector aiming to facilitate global trade exchange.