New facility to expand BMW reach in northern Riyadh

Sheikh Mohamed Yousuf Naghi, founder of MYNM; Joerg Ranau, ambassador of Germany; Hendrik Von Kuenheim, senior vice president, BMW Group Africa, Russia, importer markets Europe and Middle East; and Dr. Hamid Haqparwar, managing director of BMW Group Middle East, attended a ground-breaking ceremony to formally commence building work on the project.
Updated 09 October 2019

New facility to expand BMW reach in northern Riyadh

Mohamed Yousuf Naghi Motors (MYNM), BMW Group importer for Saudi Arabia, is to break ground on a new facility in northern Riyadh.

The 10,800-square-meter project in the Riyadh financial district is earmarked for completion in 2021 when it will provide sales and vehicle service for the full range of BMW and MINI models. 

Sheikh Mohamed Yousuf Naghi, founder of MYNM; Joerg Ranau, ambassador of Germany; Hendrik Von Kuenheim, senior vice president, BMW Group Africa, Russia, importer markets Europe and Middle East; and Dr. Hamid Haqparwar, managing director of BMW Group Middle East, attended a groundbreaking ceremony to formally commence building work on the project. 

Sheikh Naghi said: “Breaking ground on this new project is an immensely proud occasion. Once complete, our customers will enjoy the convenience of a nearby location for after-sales and vehicle service, which will provide them with the highest level of service and luxury.” 

The land area of the project is 10,800 square meters, with a total surface area of 38,000 square meters. It will consist of a showroom, two basement areas, and workshops.


Sheikh Ahmed bin Saqr Al-Qasimi, chairman of RAKEZ.

Updated 09 April 2020

Sheikh Ahmed bin Saqr Al-Qasimi, chairman of RAKEZ.

Ras Al-Khaimah Economic Zone (RAKEZ) has launched customized bundles of incentives with a total value of 50 million dirhams ($13.6 million) to ease the impact of the current global situation for its family of more than 15,000 companies and reinforce their business continuity. The incentives comprise various discounts on fees, waiver of penalties and fees as well as flexible installment options.

“Our clients are at the heart of everything we do, and now more than ever, we are here for them,” said Sheikh Ahmed bin Saqr Al-Qasimi, chairman of RAKEZ. “We understand that these uncertain times present unique challenges to different businesses, so we decided not to rush and launch unevaluated incentives. Instead, we took the time to study the situation from our clients’ perspective — what challenges each sector is facing and how we can lessen their burdens. With the allocation of this 50 million dirhams support fund, we make it possible to customize bundles of benefits based on each clients’ need to boost their business stability.”

Our aim is to make sure that when this situation ends, we come out stronger together and ready to bounce back.”

Under the allocated fund, the economic zone has introduced Client Support Boosters for the SME and the industrial sectors, offering various incentives and the agility to customize solutions based on its clients’ needs.