Alta Real Estate Development announces new Dubai high-rise
Updated 28 January 2023
Arab News
Alta Real Estate Development has announced its newest high-rise tower, AIRE Dubai. Located in the heart of downtown, the building is set to become a landmark within the iconic Dubai skyline.
With design by internationally known Miami-based Arquitectonica and interiors by Australian studio McKimm, AIRE Dubai claims wellness is the new luxury. The spaces are designed for people living in them, well-rooted in how we flow and behave as individuals and as a family.
“These are homes of equilibrium, a sanctuary of calm, high above the energy of one of the world’s most exciting cities,” a statement said.
Extensive amenities also bring wellness to the forefront, starting with a large hotel-style pool, state-of-the art gym, yoga and Pilates rooms, indoor spa, ice bath, saunas and golf simulator. There is even an entire indoor running track with lush green meditation hubs wrapping around the 57th floor.
“We have considered an extensive array of amenities, spacious layouts, generous ceiling heights, and an abundance of light. We want everyone who steps into the building to truly feel the ‘AIRE’ around them,” said Abdulla Al-Tayer, managing director of Alta Real Estate.
AIRE offers a range of two-, three- and four-bedroom single-level residences, duplexes, a triplex and full-floor penthouses. All share a design-forward aesthetic that is minimal, elegant and carefully composed to capture both natural light and sweeping views of the city, sea and Burj Khalifa
As a boutique, family-run developer, Alta is committed to delivering one-of-a-kind projects that are meant to not only add value to the existing real estate market, but also set an entirely new way of living in the city.
“We focus on one development at a time, which allows for unmatched attention to detail, uncompromised delivery schedule and tight-knit partnerships with international consultants and brands,” the company said.
“We are creating a new community with AIRE. It is extraordinarily global, multicultural, healthy, balanced and creative.”
GIB, GIB Capital win five honors from EMEA Finance
Updated 27 March 2023
Arab News
Gulf International Bank B.S.C. and its Riyadh-based regional investment banking and asset management arm GIB Capital, announced that they collectively won five awards from EMEA Finance. The awards were presented during the 15th Annual EMEA Finance Middle East Banking Awards 2022, held this month. The EMEA Finance Awards recognize the achievements of the best banks, asset managers and brokers in countries across the MENA region.
We’re delighted with the awards and the ongoing recognition from the industry of GIB’s capabilities, through GIB Capital.
Osamah Al-Shaker, CEO of GIB Capital
Reflecting continued market leadership in corporate and investment banking, GIB was named: Best Loan House — Bahrain, Best Loan House — Oman, and Best Foreign Investment Bank — Oman. GIB Capital was awarded Best Local Investment Bank — Bahrain and Best Debt House — Bahrain.
BACKGROUND
The EMEA Finance Awards recognize the achievements of the best banks, asset managers and brokers in countries across the MENA region.
During the 12-month judging period, the GIB Group continued to execute landmark transactions across all of its core markets, namely Saudi Arabia, Bahrain, Oman and the UAE. These included several investment banking transactions, including mergers, acquisitions and IPOs, bonds and sukuk, and conventional and Islamic loans, several of which were sustainability linked. The GIB Group has been recognized in the last 12 months by several leading publications and associations for its outstanding work. The group aims to continue executing landmark transactions in its core markets ensuring the needs of its key clients are met.
Osamah Al-Shaker, CEO of GIB Capital
Jamal Al-Kishi, GIB CEO, said, “We’re grateful for the recognition conferred by these high-profile industry awards. GIB will always strive to lead the way in terms of delivering innovative, value-accretive solutions to our clients across the region. Our aspirations are ambitious as we move forward with determination to fulfill our transformative strategic plans.”
Osamah Al-Shaker, CEO of GIB Capital, added: “We’re delighted with the awards and the ongoing recognition from the industry of GIB’s capabilities, through GIB Capital, to offer a comprehensive and world-class range of investment banking products and services designed to provide innovative and customized financial and investment solutions for our clients. With the rapid development of public and private equity and debt markets in the region, we are extremely pleased with the important role we are playing in helping our clients and the regional economies maximize their growth and realize their vast potential.”
Inter Emirates Motors launches MG One, a game-changer elevated by technology
Updated 26 March 2023
Arab News
The first generation of MG Motor’s new MG One has arrived in the Middle East. Available in three trims at Inter Emirates Motors, a subsidiary of Ali and Sons Holding LLC and the official distributor of MG in the UAE, the new 2023 MG One will strengthen the British-born brand’s model portfolio, offering customers even more style, technology and traveling comfort at value prices.
The MG One harnesses the latest technology with the introduction of SAIC Motor’s self-developed new modular SIGMA architecture platform, housing a 1.5 Turbo unit delivering 181 hp and maximum torque of 285 Nm — powering the vehicle to a top speed of 195 km/h. All models are equipped with an innovative seven-speed continuously variable transmission for smoother, more efficient gear changes and optimum reliability. The arrival of MG’s newest SUV is expected to help the brand reinforce its position in the top six Middle East carmakers.
The SIGMA architecture platform has been designed to optimize interior space, with up to 70 percent efficiency. The architecture compresses the mechanical space to help balance the exterior and interior space. As an all-in-one modular platform, it can house a range of all-electric, and hybrid powertrains, as well as regular internal combustion engines.
FASTFACT
The MG One harnesses the latest technology with the introduction of SAIC Motor’s self-developed new modular SIGMA architecture platform.
This advanced electric architecture creates a smart car experience for MG’s new generation of vehicles.
Tom Lee, managing director of MG Motor’s Middle East, said: “The all-new MG One is the latest in our SUV offerings, which have propelled the MG brand into one of the most popular in the region. This tech-focused compact SUV not only complements our current product lineup but also provides customers with an exciting new option priced competitively.”
Mohamed Al-Daheri, managing director, motors division, Ali and Sons Holding LLC, said: “As part of our strategy to better serve our customers and enhance the MG experience, we are focusing on expanding our presence in the UAE.”
In addition to our existing locations, we plan to open a new showroom in Dubai, a service center in Al-Quoz, a new showroom in Abu Dhabi, and a new sales, service, and spares facility in Fujairah.”
The demand for MG vehicles in the UAE continues to increase. In fact, Inter Emirates Motors has plans to continue to expand and provide end-to-end service to customers at every touch point throughout every emirate.
Sidra Income Fund II awarded two accolades at Islamic Finance News Awards 2022
Updated 26 March 2023
Arab News
Sidra Capital, the Shariah-compliant investment firm regulated by the Saudi Arabian Capital Market Authority, announced that Sidra Income Fund II, the US dollar-denominated investment fund focusing on commodity export trades within the Asia-Pacific region, has been awarded the coveted Islamic Finance News Awards for Trade Finance Deal of the Year 2022 and Indonesia Deal of the Year 2022.
The fund capitalizes on export trades of branded solid fuel within the Asia-Pacific region, which accounts for 60 percent of the world’s population, and with global energy consumption set to increase post-pandemic, together with the consequent disruptions in supply, the fund is uniquely placed to take advantage of such events.
Launched in October 2022, SIF II’s investment strategy is premised on an innovative facilitation of commodity supply chain transactions via fully funded irrevocable letters of credits. As the trades are secured end-to-end by USD-denominated LCs and issued by banks with strong credit ratings, investors are protected against foreign exchange and payment risk by trade counterparties. Furthermore, as the trades are structured as back-to-back purchases and sales of commodities (rather than speculative trading), investors are also not exposed to inventory and price risks.
Furthermore, Sidra Capital also sought Shariah-compliant political risk cover against risks of convertibility/transferability, expropriation, and war and civil disturbance.
“Sidra Capital is no stranger to the structured trade finance space, having established award-winning trade finance funds since 2012. The latest IFN awards are a testament to Sidra Capital’s ability to scout for private finance opportunities globally and innovate investment solutions that bridge the gap between capital providers and users while mitigating inherent risks in such structures,” said Hani Baothman, chairman of Sidra Capital.
“Our private finance solutions have a low correlation to other asset classes, generate consistent returns with low volatility, and invest into the real economy with no leverage or speculation, which creates a win-win situation for our investors, trade counterparties and communities that we operate in. This in turn encourages social and economic developments in the markets where we intervene,” Baothman added.
As a pioneer of Islamic private finance in Saudi Arabia, Sidra Capital has a diverse portfolio of Shariah-compliant private finance investment solutions, including the Sidra Mutajara Fund and the award-winning Sidra-Ancile Global Structured Trade Investment Fund.
voco Alkhobar redefines culinary experience this Ramadan
Updated 26 March 2023
Arab News
voco Alkhobar is all set for the holy month, with a variety of dining experiences planned for diners at its restaurants. The hotel is hosting a specially designed Ramadan tent, serving iftar and sahoor amid a warm, welcoming ambiance.
The hotel’s signature restaurants will offer a blend of traditional and mouth-watering cuisines comprising local and international gourmet delicacies served in a luxurious and spiritual setting. With the addition of the live cooking stations and an outdoor seating area, guests can expect to have a memorable iftar and sahoor experience with their family and friends. There is also a special Ramadan menu for residents who wish to have their meals in their rooms.
The hotel’s Horizon, Naya and Anardana restaurants are some of the finest restaurants in town, manned by acclaimed chefs with years of experience in the culinary arts and offering guests traditional delicacies with a modern twist. These include a wide variety of Middle Eastern and international dishes of high nutritional value, creating a sumptuous and memorable meal.
HIGHLIGHT
With the addition of the live cooking stations and an outdoor seating area, guests can expect to have a memorable iftar and sahoor experience with their family and friends.
The Horizon restaurant at voco Alkhobar takes diners on a culinary journey comprising a lavish buffet of classic cuisines, which can be enjoyed throughout the day after Ramadan. Guests can savor anything from Middle Eastern breakfasts and Belgian waffles, to Viennese pastries, freshly baked goods and healthy drinks, in addition to hot meals prepared to order. Those looking for good ol’ classics, can choose from an American burger with coleslaw and French fries, Italian spaghetti Bolognese or Indian tandoori chicken. A variety of drinks and beverages, including tea, coffee, juices and soft drinks, are also included.
The Lebanese Naya restaurant specializes in Middle Eastern cuisine, including hot and cold mezzes, kebabs, grills and other traditional slow-cooked meat dishes served with flavorful rice.
Meanwhile, Anardana offers a delectable lineup of Indian fare, bringing the varied flavors of the Subcontinent to Sharqiya. On the menu, there is something for everyone. From classic Indian curries to aromatic grilled kebabs, those with a penchant for rich and flavorful food are in for a treat.
M. Allaf, regional general manager of IHG Hotels and Resorts and general manager of voco Riyadh, promised an unforgettable iftar and sahoor experience for guests at voco Alkhobar.
He said the hotel will offer a range of authentic local and international flavors that suit all palates.
Allaf assured guests of a high-quality service and exceptional culinary delights that he said can be enjoyed in the company of family and friends.
voco Alkhobar’s restaurants have already become a rage in the city, thanks to dozens of high ratings and positive feedback, making the restaurants must-visit destinations for visitors to the region.
The hotel is known for its distinguished services and facilities, which include a swimming pool, five spa rooms, separate health club facilities for men and women, sauna and jacuzzi, in addition to the classic Moroccan bath. Business guests can benefit from the 11 conference rooms for meetings and events, fully equipped with state-of-the-art technologies. The luxurious Sultana Hall makes for an ideal venue for family celebrations.
Radisson Blu Hotel, Riyadh announces leadership team
Updated 26 March 2023
Arab News
The newly inaugurated Radisson Blu Hotel, Riyadh Convention and Exhibition Center has announced members of its leadership team, comprising a diverse set of talented individuals including three Saudi nationals.
“These leaders are passionate about showcasing the rich culture and hospitality of Saudi Arabia, while also supporting the city’s dynamic community of enterprising women and entrepreneurs,” a statement said.
Aldert van Zyl, general manager
The hotel will be led by award-winning general manager Aldert van Zyl, who envisions establishing this innovative new venture as the hotel of choice in Riyadh for both local and international business travelers. van Zyl has more than 20 years of experience within the hospitality industry across Europe, Middle East and Africa in various hospitality brands. “With true Arabian hospitality, we are excited and proud to welcome all guests, as well as support entrepreneurs, creatives, and enterprises in growing their business and passion projects,” he said.
Aldert van Zyl
Justin Pillay, executive chef Hailing from South Africa with more than 25 years of experience in the hospitality industry, Chef Pillay is a seasoned expert in multicultural cuisines, having honed his craft in various African countries such as Nigeria and Sierra Leone.
Emad El-Nashar, district director of finance
Emad is a seasoned veteran in the hospitality industry, having amassed more than three decades of invaluable experience. As the director of finance at the hotel, El-Nashar is responsible not only for ensuring the smooth financial operations of the flagship property but also for overseeing the financial affairs of all Radisson hotels in the Kingdom.
Talha Iqbal, director of commercial development
With a wealth of experience spanning over 18 years, Iqbal has honed his skills as a seasoned hotelier in a multitude of areas including reservations, sales, marketing, revenue management, front office management and guest services.
Mootaz Alqahtani, director of human resources
For nearly a decade, Saudi national Alqahtani has remained a loyal member of the Radisson Hotel Group, tirelessly striving to elevate the careers of all hotel employees while fostering a culture that embodies the group’s core beliefs.
We promise to bring the unconventional to your conventions and events, so come and discover the newest Radisson Blu Hotel here in Riyadh.
Aldert van Zyl, General Manager of Radisson Blu Hotel, Riyadh Convention and Exhibition Center
His journey with the Radisson Hotel Group began in 2014, when he took on the role of government relations manager.
Fatima Al-Gallaf, rooms division manager
With an unwavering dedication to the hospitality industry, Al-Gallaf has spent over a decade honing her craft. Her journey began as a secretary at Marriott International, but it was clear that her talents were destined for greater things.
Ilhami Can, F and B manager
The hotel’s food and beverage manager, Can is no stranger to the world of hospitality. With 13 years of experience under his belt, he brings a wealth of culinary and beverage knowledge and expertise to the table.
Shoaib Usman Mirza, director of engineering
With over a decade of experience in the hospitality industry, Mirza started out as a facility manager. He quickly rose to the top and became a specialist in hotel openings, having successfully opened more than five properties in the GCC.
Yinka Dosunmu, cluster IT manager
With a career spanning over a decade, Dosunmu started as an engineer at MTN Nigeria Communications Limited in Lagos Mainland, where he honed his technical skills. Driven by his passion for the hospitality industry, he ventured into a new realm of technology and joined Radisson Hotel Group, where he has since held various roles.
Najla Alhajry, marketing and events manager
Alhajry’s role extends beyond traditional marketing responsibilities. She is also responsible for overseeing all pre-opening tasks and ensuring that the hotel is well-prepared for its grand debut. Alhajry is also a shining example of female leadership in Saudi Arabia’s hospitality industry.
