RIYADH, 30 August 2007 — Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), visited the city of Ulaanbaatar, capital of Mongolia on Tuesday (Aug. 28), on the invitation of the country’s President Nambaryn Enkhbayar. Alwaleed and his accompanying delegation met with Enkhbayar and they discussed bilateral relations and a number of social and economic issues between Saudi Arabia and Mongolia. Alwaleed handed a donation of $100,000 to First Lady Onongiin Tsolmon to support her humanitarian and cultural projects. Mongolia is the world’s second-largest landlocked country after Kazakhstan. It is bordered by Russia to the north and China to the south. Mongolia’s economy is centered on agriculture and mining. The country has rich mineral resources including copper, coal, molybdenum, tin, tungsten, and gold account for a large part of industrial production.
Deyaar Unveils New Residential Project
Arab News
DUBAI — Deyaar announced yesterday plans to develop an AED2 billion mega residential project — its largest development to date — in the International Media Production Zone (IMPZ). The project will be developed on a massive stretch of 40 plots that were recently acquired by Deyaar in a prominent location at IMPZ. Elaborating on the development, Zack Shahin, chief executive officer, Deyaar, said “the initiative is in line with Deyaar’s strategy to bolster its portfolio and widen its basket of residential offerings in order to cater to the surging demand from end users and investors. The project at IMPZ will be a landmark project not only for Deyaar, but also within the real estate landscape in the region.” Deyaar’s development at IMPZ will be sold in phases over the next few months. The project will be spread over 827,785 sq ft of land with a built-up area of 2.6 million sq ft. Construction is expected to commence in the current year, Deyaar’s chief executive officer said.
Dubai Bank Launches Kunooz Value Plus
Arab News
DUBAI — Dubai Bank’s impressive array of Shariah-compliant banking products has been further strengthened yesterday with the launch of its new “Kunooz Value Plus” account, one that offers unprecedented flexibility and an exciting range of rewards and benefits. Kunooz comes to the market as a unique account that enables customers to maximize their profit earning opportunities on one hand while giving customers increased chances to win attractive prizes through periodic promotional draws. In addition to allowing customers earn higher profits on the account, Kunooz Value Plus account enables account holders take part in periodic draws that give them the opportunity to earn very exciting prizes ranging from studio apartments, to school fees, luxurious cars to paid vacations. Adnan Chilwan head of Marketing and Product Development for Dubai Bank, said: “Dubai Bank has a history of introducing unique and value packed products to the market and we feel that with Kunooz Value Plus account, this trend continues.”
