ArabWeeks

Dur Hospitality Company signed an agreement with the General Authority of Civil Aviation (GACA) to develop Makarem Arriyadh Hotel located at King Khaled International Airport (KKIA), including an extension of the current agreement for a period of 20 years starting from the next year 2016.

The development is expected to cost an amount of 120 Million Saudi Riyals, resulting in increasing the hotel’s capacity from 248 to 348 rooms. In addition to the development of the supporting facilities including an integrated spa, and the development of the Corporate Business Identity. After its completion, the hotel will be operated through an international hotel brand.

The agreement was signed by Dr. Badr bin Homoud Al-Badr, CEO of Dur Hospitality Company and Mr. Yousef Bin Ibrahim Al-Abdan, Director of KKIA on behalf of both parties, in the presence of a large audience of employees from both companies

On the sidelines of the ceremony, Mr. Yousef Al-Abdan, Director of KKIA said: “We are delighted to extend our relationship with Dur Hospitality Company and we look forward to offering more support and encouragement towards the continuity of this fruitful partnership that witnessed a remarkable success over the past few years, and we are expecting even more prosperity, thanks to the huge efforts exerted and to the high expertise and enlightened vision.”

Dr. Badr AL-Badr, CEO of Dur Hospitality Company said: “We are proud to announce the renewal of our agreement with the General Authority of Civil Aviation and we look forward to the continuance of this successful relationship based on mutual trust, through upgrading our experience together and providing a new concept through an international hotel brand.

He added, “The signing of the agreement represents an important step towards our ambitious Development plans of the Hospitality Industry in Saudi Arabia, and we are committed to providing upscale hotel services that suits our customers’ requirements.”

Dur Hospitality announced the results of its General assembly meeting held in the company’s headquarters in Riyadh After satisfying the legal quorum for the assembly, the new agenda was voted and new board members were elected for the next 3 years starting 1/1/2016 ending on 31/12/2018. Accordingly, the new non-executives board members are Eng. Abdullah bin Mohammad Al Issa. And Mr. Abdullah bin Mohammad Al Abduljabbar representative of General organization for Social insurance, Eng. Fahd bin Abdullah Al Sherif, representative of the public investment fund and Mr. Badr bin Abdullah Al Issa, whereas the independent board members are Dr. Saleh bin Ali Al Hathloul, Mr. Nasser bin Mohammad Al Sebaiei, and Mr. Talal bin Abdulmohsen Al Malafekh, representative of the public pension agency and Mr. Fahad bin Abdullah Al Qassem ,and Mr. Musaab Suleiman Al-Muhaidib

The board also appointed Eng. Abdullah bin Mohammad Al Issa chairman of the board for its next session starting 1/1/2016 for the next 3 years, in addition to forming the sub committees in accordance with the approved duties and responsibilities.

RAFAL real estate development company, the premier residential community innovator, has announced the initiation of the selling process of its new community “RAFAL Residence”, after concluding construction works and finalizing 80% of the finishing works.

This announcement came after the approval granted by the Ministry of Commerce and Industry to initiate the map selling of RAFAL Residence.

 RAFAL Residence the second vertical residential community developed by RAFAL offers the “RAFAL” lifestyle, which is embodied in the gated community concept that provide luxury, privacy and security in an integrated modern fully serviced environment.

 RAFAL Residence enriches the social environment, which is aspired by many Saudi, and non-Saudi families, who are looking for sophisticated residential solutions in a modern environment while preserving the local traditions and customs.

As Mr. Essam Al-Ghamdi, Marketing and Strategy Manager, RAFAL Real Estate Development Company, said: “RAFAL has been the leader in introducing the vertical residential communities concept in Saudi Arabia, after the focus in the Saudi real estate market was limited to office and commercial vertical projects.”

RAFAL Residence community is developed over 27 floors, consisting of 234 fully serviced hotel apartments by Ascott; and 172 apartments developed in a unique design, some of which include a terrace, a balcony and adjustable windows; in addition to 4 penthouses and a private club exclusive for residents located at the top floor of the residential community. RAFAL Residence is supported by an integrated facility that includes retail stores, hospitality and entertainment facilities. 

Forbes Middle East has unveiled the top 100 entrepreneurs shaping the future of the Kingdom of Saudi Arabia during an exclusive ceremony held at the stunning Ritz Carlton hotel in Riyadh.

Under the patronage of His Royal HighnessPrince Faisal bin Bandar bin Abdul Aziz Al Saud, Governor of Riyadh, we were privileged to be joined by more than 350 people for the important event. The over-whelming majority of these inspiring individuals represented home-grown talent, with over 80% of the heads on the ranking being Saudi Arabian nationals.

Delivering his keynote speech, Dr. Nasser Bin Aqeel Al Tayyar, President of Arab Publisher House and Publisher of Forbes Middle East praised the vital role of the Saudi leadership in supporting entrepreneurship according to the vision and directives of the Custodian of the Two Holy Mosques, King Salman bin Abdul Aziz Al Saud, Crown Prince, Mohammed bin Nayef, and Deputy Crown Prince Mohammed bin Salman.

Al-Tayyar noted that the number of startups in technology and IT doubled this year compared with 2014, and that entrepreneurs were more willing to transparently share data and financial information with Forbes Middle East about their companies. He explained that the multiplicity and diversity of startups would ensure that the Saudi economy would remain sustainable and lively, adding that the achievement of the leadership’s ambitious goals would require concerted efforts and the exchange of ideas between decision-makers in the public and private sectors. Al-Tayyar called on top officials, businessmen and investors from various sectors to extend more support to entrepreneurs and provide help to the younger generations armed with science and ambition in order to bring about stability and comprehensive development in the Kingdom in future.

Mr. Sa’ad Bin Nahar Al Badah, CEO of Saudi Manpower Solutions Company, was also on hand to praise the awardees, saying: “The Saudi Government spares no effort in supporting entrepreneurship in accordance with the vision of the wise leadership”, adding that: “This provides a strong incentive for entrepreneurs to make more efforts in order to improve their brands and compete in various regional and global forums.”

Turki Abdullah Al Sideri was honored as Person of the Year 2015 for his 41 years of excellent service as General Supervisor at Alriyadh newspaper.

Forbes Middle East was supported by several organizations in hosting the event, including: Smasco, ATG, fast Auto Technic Co. Ltd. – Maserati KSA, EPG , JLL, the real estate investment and advisory firm, Elite executive services, Elegant resorts, AL Riyadh Newspaper, Sugar Sprinkle, and Spring Rose.

Mrs. Khuloud Al Omian, Editor-in-Chief ofForbes Middle East said: “We at Forbes Middle East are always proud to highlight the achievements of the region’s most promising startups. The people we honor this evening have not only accomplished great success individually, they are also bringing innovation to their industries and pride to their Kingdom. They are shaping the future of the business world in the whole Middle East and we are delighted to throw our full support behind them as they grow and expand.”

Detail about our rankings

Of the top 100 startups, e-commerce and IT were the top sectors with 15 rankings each. Marketing and advertisingwas second with 11 rankings, and the services sector was third with 8. The rest were in a range of sectors including food and beverages, entertainment and industrials fashion.

Entrepreneurs Shaping Saudi Arabia’s Future

Technology and innovation are disrupting industries around the world. The largest taxi company owns no vehicles (Uber); the most popular media platform creates no content (Facebook); the most valuable retailer has no inventory (Alibaba). Entrepreneurs in Saudi Arabia are also harnessing the power of the internet and social media to create businesses that didn’t exist six years ago. UTURN Entertainment, which started out as a YouTube channel with a few funny videos, now aggregates original content on its platform, and distributes it across social media. It has become the largest online entertainment network in the Middle East, and has launched the careers of artists, turning them into UTURN stars.

Sawerly spotted an opportunity in the fragmented market for corporate and special events photographers. It has 1,000 photographers on its platform who bid for projects from customers.

E-commerce is one of the hottest sectors in the Middle East, and Dokkan Afkar (translation: the ideas’ shop) sells a lifestyle by curating a selection of merchandise from budding designers in Arab countries, potentially building their brands.  

Those three appear on this year’s FORBES MIDDLE EAST list of top 100 startups in Saudi Arabia. They have the potential to shape not only the country’s future, but the rest of the Middle East.

Dur Hospitality Company appointed Shapoorji Pallonji engineering and construction to build Diplomatic Quarter Riyadh Marriott Hotel and Executive apartments. This Project, considered as an important and promising investment opportunity for “Dur” in terms of geographical location and unique design, is expected to be completed in 24 months for a total cost of 259 million Riyals.

Dr. Badr bin Homoud Al-Badr, CEO Dur Hospitality said: ” the importance of this project lies in being the first international hotel opening its doors within the Diplomatic Quarters in Riyadh, home to foreign embassies, international organizations and many governmental and financial institutions and leading private corporations in the Kingdom. Diplomatic Quarter Riyadh Marriott Hotel and Executive apartments will be managed and operated by Marriott International under a long-term agreement with Dur.”

He Added: ”We’re Keen on choosing the best construction company to handle the development of this new hotel which requires modern and sophisticated building techniques, and for that reason we selected Shapoorji Pallonji engineering and construction company, considering its extensive experience in the hotel development projects globally, regionally and locally, which played a big role in winning the development contract of this project. “

It is worth mentioning that The Riyadh Marriott Hotel in the Diplomatic Quarters is a 5-star, fully-serviced hotelstanding on a 25,000 m² land, designed by one of the most prestigious companies, inspired by the geological layers of Wadi Hanifa.

The hotel is comprised of 80 hotel rooms and 140 5-star, luxurious executive apartments, in addition to a main restaurant, a banquet hall with a capacity of 400 guests, a fitness center, and a parking lot with a capacity of 215 cars.