Dubai will host one of the largest one-day disposals of bank assets at the Grosvenor House, Dubai Marina, on Wednesday (May 25). Bancaja Habitat, the real-estate arm of one of Spain’s leading banks, will showcase a wide portfolio of investment properties worth over $2 billion. Properties vary from individual residential homes to tourism properties. Other buildings on offer on the day will be commercial premises, five-star hotels, part or whole developments. The event will showcase one-off deals not available anywhere else. Figures are strictly ‘off market’ and not listed publicly with the seminar itself by appointment only. However, many of the properties are already 40 percent below the current market valuations. Investors can take advantage of up to 75 percent finance and a 12-month payment holiday, creating a fantastic opportunity for individuals to invest in unique property. Fernando Rodriguez Palmero, international director of Bancaja Habitat, said: “The seminar is a once in a lifetime opportunity to buy repossessed properties of this magnitude direct from the bank. With the prices below the estimated market valuations it offers a great chance to invest in secure properties with instant equities and lengthy finance options.” Bancaja Habitat is part of the real estate division of Bankia, the largest financial group in Spain. It was formed in December 2010 as a fusion of seven savings banks including Caja Madrid and Bancaja.
Brash Brands has formed a strategic alliance with Alireza Holding Co. in Jeddah to build Saudi Arabian capability. The alliance will create an office for Brash Brands in Jeddah that is to be staffed through the course of Q2, 2011. For Brash Brands, this marks the culmination of a series of engagements that has seen its reputation in Saudi Arabia grow after successfully completing assignments with King Abdullah Economic City, Savola Group, Kinan, Reza Investment Company and Emaar. John Brash, founder and CEO of Brash Brands headquartered in Dubai, said: “We have been working in Saudi Arabia for a number of years now and we believe that it is time to move forward and create an office. During our preliminary discussions, it was clear to me that Alireza Holding Co. would be a perfect fit.” Bandar Alireza, CEO and chairman of Alireza Holding Co., said: “We are pleased to have Brash Brands working with us. They fit perfectly within our brand portfolio alongside our franchise operations with I.ZONE (Apple Premium Resellers), Tokyo Games stores as well as our core technology distribution brands such as Monster, Jawbone, Built NY, Zagg and Zound Technologies.” Brash Brands will be offering a variety of services in Saudi Arabia including brand strategy, design, advertising and digital services including SEO and social media strategy. This month marks a busy one for Brash Brands who recently had their work for Etihad Rail, the UAE federal government’s rail project launched.
The 16th edition of food arabia (food and beverages and catering), hotel arabia (hotel equipment, supplies and services) and propac arabia (processing, packaging canning, bottling, labeling and plastics will open at the Jeddah Center for Forums & Events on Sunday (May 29). The show, being held with the support of the Ministry of Agriculture, will be inaugurated by Mahmood Bin Saeed Ahmed, general director, General Directorate for Agriculture Affairs, Makkah region. Organized by Al Harithy Company for Exhibitions from 5 p.m. to 10.30 p.m. daily till June 1, the exhibition enjoys the support of the Organization of the Islamic Conference represented by Islamic Center for Development of Trade. The event, which claims to be the only platform in Saudi Arabia and the region that integrates the closely related sectors of food, hotel & propac, providing a host of products and services to food importers and manufactures” has exhibitors from 18 countries, six of them with their national pavilions. Exhibitors are from Burkina Faso, Brazil, China, Egypt, Ethiopia, Germany, India, Indonesia, Jordan, Lebanon, Malaysia, Pakistan, Poland, Singapore, Sudan, Tunisia, Turkey and the US. Royal Host, an importer in Saudi Arabia for hotels and restaurants equipment, is the main show sponsor. TopChef, organized by ACE Events in coordination with Saudi Arabian Chef Association, has become a regular feature of the exhibition and will showcase live culinary skills by chefs from the finest hotels and restaurants. The Art de Table contest is another feature with the participation of hotels and restaurants.
Al Jazirah Vehicles Agencies Co. (AJVA), importer-dealer of Ford and Lincoln vehicles in the Kingdom, has opened its first full-fledged branch in Jazan, marking a key addition to its growing network of facilities across the Kingdom. The Jazan facility is the 18th AJVA sales outlet of Ford and Lincoln vehicles in Saudi Arabia. Abdullah bin Fahad Al Kraidees, AJVA’s president, conducted VIP guests around a tour of the 10,000 sqm facility, which houses the Ford and Lincoln showroom (1,000sqm), service center and workshop (2,400sqm), as well as the parts department and warehouse. The property, located along the new north Corniche, also includes staff accommodation, ample parking spaces and a car wash area. “This new dealership facility marks an important milestone for AJVA,” said Al Kraidees. Currently, AJVA enjoys a network of 18 main branches with two more expected to open by the second half of this year. “We are very proud of our 25-year history, during which we were driven by our commitment to be the best and completely focused on the customers - a drive that has helped us become the world’s largest Ford dealer,” he said. Larry Prein, Ford Middle East’s MD, said: “Ford Middle East congratulates Al Jazirah Vehicles Agencies on the opening of their new facility in Jazan and commends the dealership’s continued efforts in expanding the Ford customer base across the Kingdom. AJVA’s commitment to ensure we have a strong, sustainable representation throughout Saudi Arabia is evidenced by their efforts to continuously improve and provide the highest customer satisfaction levels.”
Ten years after launching the ambitious innovation program for a new generation of gas turbines, Siemens has now achieved a new world record in power plant efficiency with its H-class gas turbine at the Irsching 4 power plant. With an output of more than 578 megawatts (MW) at an efficiency level of 60.75 percent, Siemens has markedly surpassed the targeted efficiency mark of “more than 60 percent” during the test phase, making history in the field of power plant technology. The new Siemens gas turbine is designed for 400 MW in simple cycle duty and for 600 MW in combined cycle duty. In combined cycle duty, a single turbine of the model SGT5-8000H generates enough power to supply the energy needs of a major city like Berlin with 3.5 million inhabitants. Compared to the solutions currently installed in combined-cycle power plants, the new generation of Siemens gas turbines consumes one-third less natural gas per generated kilowatt-hour and emits one-third less CO2. “These are historic dimensions and world record levels,” said Michael Suess, CEO, Siemens Energy Sector. Siemens not only left all current records with regard to output and efficiency far behind, but also raised the bar for operating flexibility. The new H-class plant can quickly react to the demands for additional or reduced output. More than 500 MW can be put online in the space of only 30 minutes and the load can by varied by 35 MW per minute.
Fahd Al-Rasheed, MD & CEO of Emaar The Economic City (EEC), and board member of Ports Development Company (PDC), recently announced completion of the first phase of dredging in KAEC seaport. In this phase, three million cubic meters of dredging was completed including the dredging of the entry channel to the port and the turning basin. The second phase of development is already underway which will include finishing the remaining dredging, constructing the berths, the stack yards, and the operations buildings. The target is to prepare KAEC seaport to start receiving the first shipping lines by early 2013. Al-Rasheed highlighted that the port will have 18 meters of depth at the berth side making it capable to receive the new generation mega vessels. The total area of KAEC seaport will extend over 13 million sqm, enabling KAEC seaport to significantly uplift the level of the Kingdom’s competitiveness via enhancing maritime transport and logistics services. “KAEC seaport is one of the key components of King Abdullah Economic City (KAEC),” said Al-Rasheed, “Its strategic location and direct access to the Industrial Valley will attract companies from various industries, and will create many new job opportunities and will be an ideal location to reach the 250 million consumers in the Middle East and North Africa.” KAEC seaport is being developed by the Ports Development Company (PDC), which is a joint venture between Emaar, the Economic City (EEC) and Saudi Bin Laden Group (SBG). The company, is in charge of financing, developing, and operating KAEC seaport.
As part of its ongoing initiative to provide advanced options and exclusive smart phones and palm devices, Saudi Telecom Co. (STC) has introduced a smart phone in partnership with Darmoja Electronics. The smart phone, ASUS A10 device, is powered by the advanced Android 2.1. The ASUS A10 incorporates the latest technology and is the only smart phone powered by an advanced smart navigation system provided by American company Garmin, which is one of the world’s biggest navigation companies. The new ASUS A10 will be available at all STC centers and Damoja showrooms for SR1,499 including an additional 250 MB Quicknet SIM card every month for six months, plus a Darmoja desert map and special car accessories. In addition to being the only Android device powered by a smart navigation system, the A10 contains advanced detailed maps of the Middle East (Saudi Arabia, Qatar, Oman, Bahrain, the UAE, Lebanon, and Jordan). The ASUS A10 is also distinguished by exceptional specifications and is powered by the giant 1500mAh batteries, which allow the device to be used for days without worries about recharging or battery expiration. With the 5 megapixel camera, customers can use the A10 device to take photos of their favorite subjects, which can be saved and shared among friends through You Tube and social websites such as Facebook and Twitter. There are more than 500,000 free applications available at the Android store and the ASUS A10 has the capacity to install up to 400 applications in its memory.
SAMACO, exclusive dealer of Volkswagen in the Kingdom, has launched the all-new, redesigned and restyled Jetta, following the car’s great success around the world with already over 9.6 million units sold. The Jetta is an “ideal choice for everyone who desires a German designed, impressively styled saloon” that is comfortable, safe and yet affordable. Volkswagen not only redesigned the specifications and appearance of the new Jetta, but also redesigned the price, making Volkswagen automotive excellence more accessible to people in the Middle East. The Jetta is 4.64 meters long and delivers a superior class of compact sedan that combines a modern dynamic design, encompassing clear precise lines and athletically muscular surfaces, which gives the saloon an image of timeless elegance and styling, and extends the offering of Volkswagen models available in the region. “The new Jetta is an exciting addition to the Middle East with prices starting from SR69,900,” said Philip Burrluck, Volkswagen brand manager, SAMACO. “It’s in a class of its own and combines German engineering and performance, safety and comfort in a whole new look. We have taken best in class technology and innovation to a different level in order to produce our best Jetta ever. With the all-new Jetta, we are offering a car in the Middle East that will add a new dimension of quality to the saloons of the compact class. Volkswagen has a clear growth strategy in the Middle East for the sedan category.”
