The first Pottery Barn Kids retail store in Saudi Arabia made its debut recently at Riyadh Sahara Mall. The iconic US children’s home furnishings brand is operated by Alshaya International Trading Co. “As someone who was in the Gulf when we first launched Pottery Barn Kids in Dubai in 2010, I am tremendously excited to be involved in bringing this brand to Saudi Arabia,” said Laura Alber, president and CEO of Williams-Sonoma, Inc, the parent company of Pottery Barn Kids. “Pottery Barn Kids has already received an enthusiastic response in Kuwait and the UAE, and we have been looking forward to expanding into the Kingdom, helping consumers to create imaginative and inspirational spaces for their children.” Expressing his delight over introducing “this outstanding” children’s home furnishings brand to Saudi Arabia, Mohammed Alshaya, executive chairman of Alshaya, said: “Pottery Barn Kids exemplifies innovative style, quality and service that I know will appeal to Saudi families. This flagship opening at Riyadh Sahara Mall will be followed later this year with more stores opening in Riyadh and Jeddah.” Pottery Barn Kids lets parents create unique, kid-friendly, stylish and innovative spaces for nurseries, bedrooms and playrooms, with exciting products designed for children. Product categories available in the Riyadh store include furniture, bedding, bathroom accessories, study spaces, window treatments, rugs, lighting, decorative accessories, classic toys, nursery essentials and gear including luggage, backpacks and reusable lunch bags.
In recognition of its leadership in providing the best telecommunications services in the region and its international growth strategy, STC received two prestigious accolades for Best Mobile Operator of the Year and Best Growth Story of the Year at the TMT Finance & Investment Middle East Awards Ceremony at the Ritz Carlton, Dubai on May 9. In addition, STC Group CEO Saud Al-Daweesh was honored with a special achievement award for his outstanding contribution to telecommunications in the Middle East and Asia. Al-Daweesh said: “In accepting this award I pay tribute to all my colleagues who have played their part in making STC one of the world’s leading telecommunications companies. By teamwork, technological know-how, marketing expertise and customer focused strategy we have succeeded in taking STC beyond its national borders and are now serving an international customer base of 139 million in 10 countries.” STC was a major participant among the 50 companies represented at the TMT Finance & Investment Middle East Conference, held in Dubai on May 9-10. Al Daweesh delivered the keynote speech on the subject of the “Growth Cycle.” The Mobile Operator of the Year Award recognizes that STC is the leading telecommunications provider in the region and its market position is consistently growing due to its superior expertise in mobile technology and the wide and comprehensive range of mobile products and services offered. STC also clinched Best Growth Story of the Year for its operations in Indonesia under the brand Axis.
The impact of Saudi Arabia’s record budget across all segments of the real estate sector, and housing in particular, will be a major focus of this year’s Jeddah Real Estate Summit set at Jeddah International Urban Development and Real Estate Investment — Cityscape Jeddah. More than 35 CEO-level speakers will analyze the region’s major opportunities, discussing entry strategies into the market, sustainable project finance, real estate investment, public-private partnerships, hospitality, regulatory developments, the economic cities and infrastructure. “Saudi Arabia has the biggest opportunity in real estate among GCC countries, supported by organic demand. The recent announcements and initiatives by the Saudi government aimed at addressing the housing shortage will trigger growth in the sector and attract new investments,” said Nidal Jamjoom, CEO of Kinan. “The government’s holistic approach to strengthen the economy will insure sustainable growth. Developing new residential communities creates opportunities for retail, which will be further supported by increased consumer spending enabled through recent salary adjustments,” said Fahad Al-Mutawa, CEO of Ewaan Global Residential Company. “This year’s event is happening at a crucial time. A collective effort by developers, banks and investors is required to successfully implement the government’s ambitions,” said Hussain Alharthi, MD, National Exhibition Company.” “Jeddah Real Estate Summit is an unparalleled learning and networking event,” said Deep Marwaha, group director of Cityscape Saudi Arabia.
BANAJA HOLDINGS
Banaja Pharmaceuticals Company (bpc), a subsidiary of Banaja Holdings Ltd., has signed an agreement with the International Pediatric Nutrition Company (IPNC), to distribute its infant formula Almarai Enfamil A+in pharmacies and hospitals in Saudi Arabia. The IPNC is a joint venture between Almarai and Mead Johnson for local manufacturing of infant formulas in the Kingdom. The distribution agreement, the first of its kind, is for the Almarai Enfamil product line; a line of infant formulas tailored for the specific nutritional and development needs of infant and children. The infant formula market in the Kingdom is estimated to be worth around $300 million. According to Business Monitor, the value of Saudi Arabia’s infant formula market is forecasted to post a compound annual growth rate of 6.52 percent through to 2014. The bpc is described as a sales and marketing company representing 40 percent of the top 10 global pharmaceutical companies including Roche, Pfizer, GSK, Sanofi-Aventis, Nestle, Seven Seas, MEDA and Amdipharm. Hani Dabbour, GM, bpc, said: “This agreement enables bpc and IPNC to offer better infant nutrition in this fast growing market in the most cost-effective and efficient way through our dedicated, extensive, pioneering and integrated distribution network in Saudi Arabia.” Chuck Davin, IPNC GM, said: “We are excited to be working with bpc on our soon to be locally manufactured Almarai Enfamil infant formulas and thus ensuring that our products are being distributed to their final destinations to the highest quality standards.”
LG Electronics (LG) and Al Hassan Ghazi Ibrahim Shaker Company, the sole distributor of LG Air conditioners in Saudi Arabia, on Wednesday unveiled its new Multi V III commercial air conditioner. The third generation of the popular Multi V series, the new air conditioner will be LG’s flagship product in Saudi market. The launch of the Multi V III, the company’s most advanced commercial HVAC solution was done through a seminar held in all major cities — Madinah, Riyadh, Jeddah and Dammam. “The launch is a central part of LG Air Conditioning Company’s plan to secure $10 billion in global sales by 2014. With its advanced efficient heating system, the Multi V III is expected to gain a significant market share throughout Saudi Arabia,” said Simon Lee, Middle East AE business head. The Multi V III boasts three key consumer benefits; higher energy efficiency, larger capacity and longer piping design. “As a company with a strong focus on producing energy-efficient products, we feel that the Multi V III addresses all the major HVAC requirements of businesses in Saudi Market,” said John Lee, MD, LG Electronics KSA. “With this product, we are in a strong position to work with our Saudi dealers and business partners to make LG the leading provider of smart and efficient HVAC solutions,” said S.H. Ahn, AC project manager. Another advanced feature of the Multi V III is its continuous heating system, which maintains a pleasant indoor temperature without any heat loss from defrosting.
P&T Architects and Engineers Ltd, a Hong Kong based international consultant employing more than 1,800 personnel around the world, is expanding its operation to service the increasing number of projects in Saudi Arabia. An office in Riyadh will be the newest addition to its existing offices in Dubai, Abu Dhabi, Hong Kong, Singapore, China, Thailand, Vietnam and Macau. The office, will consist of a highly talented locally based team of creative and experienced professionals that will work on a diverse range of projects, including landmark buildings and complex developments. The Riyadh office will also be strongly supported by the organization’s counterparts in China and the Asian markets. P&T Architects and Engineers Ltd.’s team commenced work on its first project in the Kingdom in June 2009, with the creation of Burj Rafal in Riyadh. Excavation works began on the site in April 2010, the main contract construction started in September 2010 and the project is due for completion in 2013. Burj Rafal is a 66-story mixed-use tower, which will be home to a luxurious 350-room Kempinski hotel and spa, serviced apartments, residential apartments and boutique retail at the podium level. Burj Rafal will be a new high-rise landmark on King Fahd road, located not far from the new King Abdullah Financial District. “We are delighted to build on our successful partnership with Rafal Real Estate Development in the execution of this new project,” said James Abbott, director, P & T Architects and Engineers.
