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ECONOMY

15

WWW.

SAUDIGAZETTE

.COM.SA

WEDNESDAY 24 OCTOBER 2018

Jabal Omar wipes out

all losses, posts profit

Millennium Hotels launches

‘TooMooH’ in Saudi Arabia

24 Saudi staff graduate

from ‘Agthia Academy’

Seychelles Tourism Board

conducts GCC roadshow

Schindler redefines the

future of urban mobility

Saxo Bank launches new pricing structure

Alfanar powering the nation and driving economic growth

J

ABAL Omar Development Company

(JODC), the leading real estate developer

in the region, announced a net profit of

SR469.62 Million, an increase of 417% com-

pared to the previous quarter and 179% com-

pared to the same quarter last year.

The total profit in the current quarter is

SR192,30 Million. With that, the company has

overcome the recent losses.

The company’s profit increases in the third quarter of

2018 due to several factors, mainly the growth in revenues

from the sale of residential units as well as the positive per-

formance of the commercial sector. In addition

to successfully reducing the deferred financial

burdens. JODC has received its off plan sales li-

cense to sell Jabal Omar Address Makkah via the

Ministry of Housing, presented by WAFI program

and the off plan sales and leasing committee.

This enhances JODC’s role as a developer that

offers high quality real estate products.

Jabal Omar Address Makkah’s sales roadshow was

launched earlier this month throughout the Kingdom to

promote 741 free hold hotel units with a variety of sizes and

views.

— SG

M

ILLENNIUM Hotels and Re-

sorts, Middle East and Africa,

one of the fastest growing

hotel management companies in the

region, has launched one of its key

initiatives, ‘TooMooH’, in the Kingdom

of Saudi Arabia.

Translated literally as ambition,

TooMooH is a talent development

program established by Millennium

Hotels and Resorts, Middle East and

Africa to meet its rapidly expanding

talent acquisition needs across the

Middle East where it aims to operate

100 hotels by the year 2020. The

program reflects the brand’s vision

to have an active role in the inclusion

and development of GCC nationals

in the region’s burgeoning hospitality

industry.

A press event was held at

Copthorne Hotel Riyadh to officially

launch the program in the country,

designed to attract talented and ambi-

tious Saudi nationals into pursuing

and developing a career within the

hospitality sector.

Ali Hamad Lakhraim Alzaabi,

President of Millennium Hotel &

Resorts, MEA, said: “Saudi Arabia’s

tourism industry is experiencing an

unprecedented growth driven by

massive tourism investments and

recent reforms in visa regulations.

Millennium Hotels and Resorts,

MEA is fully committed to a strategic

expansion in Saudi Arabia with signifi-

cant number of Hotels to be opened

already in the pipeline adding to its

already extensive portfolio of Hotels

across KSA. This expansion would

create more job opportunities for the

nationals of Saudi Arabia as part of

our overall commitment to contribute

to the success of societies we oper-

ate in. We are pleased to introduce

the TooMooH program within our

Hotels in KSA and we encourage

Saudi nationals to take advantage of

this programme that will unlock their

potential and invite them to be part of

the promising hospitality industry.”

The ‘TooMooH’ program will have

four levels focusing on the advance-

ment of fresh graduates, executives

and leaders. The first step of the pro-

gram called the ‘TooMooH’ Executive

Development Program (TEDP) is well

underway with selected colleagues

that have the potential to assume

managerial positions upon successful

completion of the program.

Ayman Sallam, General Manager

of Copthorne Hotel Riyadh, said:

“This program will support GCC

Nationals who have the ambition and

a ‘can-do’ attitude towards realizing

their professional and personal goals.

We are confident that TooMooH will

deliver well-deserving candidates

who will work towards their path to

success.”

— SG

A

GTHIA Group PJSC , one of the

region’s leading food and bever-

age companies, celebrated the

graduation of 24 Saudi employees

from its National Talent Integration

Program (NTIP) at the Agthia Acad-

emy, an in-house employee develop-

ment and training center, as part of the

Group’s drive to ensure a highly ca-

pable and sustainable local workforce.

Launched in the Kingdom at

the beginning of 2018 as part of the

Group’s training and development

initiative TATWEER, NTIP was de-

signed to facilitate the integration of

national talents into Agthia’s corporate

culture by providing them with skills,

capabilities and knowhow to excel in

their future careers. The NTIP includes

five intensive modules introducing

concepts such as performance by

objectives, value of common purpose

and teamwork in addition to basic

financial terminology and communica-

tion skills to name a few.

On the occasion, Rashed Hamad

Al Dhaheri, Agthia Vice Chairman,

said “Agthia has over the years dem-

onstrated its commitment towards

developing national talent in the UAE

and has built a successful track record

in this regard that we are now proudly

replicating amongst Saudi youth in

the Kingdom. Agthia believes that

developing its employees across all

locations and within all operations, is

key to a sustainable, successful and

robust organization. Today, we are

proud to see 24 of our Saudi employ-

ees complete this integrated training

program as they gear up to become

future leaders.”

— SG

T

HE Seychelles Tourism Board

(STB) Office in Dubai conducted

the third edition of its GCC road-

show across Abu Dhabi, Dubai, Kuwait,

and Qatar last Oct. 14-17.

STB’s delegation was led by

the manager of STB Office in Dubai

Ahmed Fathallah and STB head-

quarters’ senior marketing executive

Natacha Servina. They were joined

by representatives of several local

partners: Air Seychelles, Banyan Tree

Seychelles, Constance Hotels & Re-

sorts, Eden Bleu Hotel, Luxury Travel,

MAIA Luxury Resort and Spa, Six

Senses Zil Pasyon, The H Resort Beau

Vallon Beach Seychelles, and Vision

Voyages.

A great turnout was recorded

throughout the roadshow, with some 40

to 50 agents in attendance in each city.

The roadshow saw the participation

of a mix of agents, working with both

the leisure and Meetings Incentives,

Conferences & Exhibitions (MICE)

segments.

Hosted in centrally located venues

in each city, the agents were also

hosted to a dinner which allowed more

time for them to network with the STB

representatives and local partners.

U

NDER the theme of “Enabling

Smart Buildings for the Future”,

Schindler, one of the world’s

leading providers of elevators, escala-

tors, and moving walks, announced

two groundbreaking mobility solutions:

Schindler Ahead and myPORT at CT-

BUH (The Council on Tall Buildings and

Urban Habitat) Middle East Conference

2018 held in Dubai. The 5-day global

conference attracted local and interna-

tional key stakeholders and decision

makers in the industry.

Commenting on the importance of

the company’s new technology, Steven

Foster, Managing Director, Schindler

MENA, said: “As we have been leading

the industry through digitization and

modernization, it is vital that Schindler

takes part in CTBUH, the world’s lead-

ing resource for the development of

future cities. And today we are proud

to announce our new state of the art

myPORT and Schindler Ahead solu-

tions that will contribute to reshaping the

landscape of urban mobility and smart

cities.”

“The MENA region is one of the key

markets to the Group, and therefore, we

aim to be the best service provider in

the industry for customers by continuing

to develop highly innovative and user-

friendly mobility solutions specifically

tailored to the market”, he added.

Schindler Ahead offers an innova-

tive digital solution for elevators and

escalators, enabling a complete range

of new digital products and services.

The human-centric platform uses the

Internet of Things (IoT) to bring ease in

the daily maintenance of units by using

insights captured from real-time data.

Schindler Ahead will enhance equip-

ment reliability and uptime, while signifi-

cantly improving safety and offering a

superior passenger experience.

Schindler has also developed a

unique application known as myPORT,

which is a smartphone-based service

for personal mobility that offers a

seamless four-step identity verification

on entry, and user-friendly “e-banking

level” security. Once inside the building,

myPORT allows users to move through-

out the building just by a click on their

smartphones. As a result, occupants will

have more freedom and convenience,

and building owners will get greater

access control.

Schindler also showcased its latest

smart solutions for urban mobility at

CTBUH 2018 Middle East Conference,

including Schindler Building Simulation;

an award-winning traffic and building

simulation software that helps to define

accurate building parameters and cre-

ate real traffic performance scenarios,

Schindler CLIMB Lift; a fully certified

vertical transportation and installation

system.

— SG

T

O support multi-asset trading and

grow market share, Saxo Bank

A/S introduces new aggressive

pricing structure in the MENA region.

In key products, new clients can save

up to 50 percent compared to competi-

tors as well as benefiting from Saxo’s

unique multi-asset trading range and

service.

Saxo, the leading fintech special-

ist focused on multi-asset trading and

investing, today announces that it has

launched a highly competitive pricing

structure across the MENAmarket. The

new structure will place Saxo as one

of the most competitive brokers in the

market across a range of products.

Saxo provides one of the deepest

and most comprehensive multi-asset

trading platforms available and delivers

unparalleled access to global capital

markets. Through its connectivity to

more than 100 global product and

liquidity providers, Saxo offers access

to over 35,000 financial instruments

across asset classes, including ETFs,

Stocks, Bonds, CFDs, Forex, Futures

and Options that are cross margined

from a single account.

The new pricing scheme in com-

bination with the products, platform

and service is an extremely competi-

tive proposition and is aligned across

all asset classes benefitting each of

Saxo’s three client segments - Classic,

Platinum and VIP. For example, going

forward, any client actively trading equi-

ties will also benefit sharper pricing on

all other instruments.

Clients can trade US stocks from

$9.90 and European Stocks from EUR

10 per trade - less than half of what

competitors typically charge. Saxo’s

FX pricing is also highly competitive

with clients able to trade EURUSD

with all-inclusive spreads from 0.6 pips

and GBPUSD from 0.7 pips - around

40 percent less than what competitors

typically charge. As clients trade more

actively these prices become even

more attractive.

Commenting on the new pricing,

Steve Weller, CEO Saxo Bank MENA

Region, said: “We are at a defining

period for the investment and trading

industry and we are thrilled to be able

to offer the most competitive pricing,

product and platform package among

banks and brokers in the MENA region.

The industry continues to face price

compression and we are determined to

be ahead of the curve.”

— SG

T

HE Custodian of the Two Holy Mosques

King Salman recently inaugurated the

Haramain High-Speed Railway, the biggest

electric speed train project in the Middle East,

one of the strategic projects of the country. The

Haramain High Speed Rail Project is designed

to satisfy the transportation needs of the pilgrims

travelling between Makkah and Madinah which is

expected to reach 60 million annually.

As a company associated with Kingdom’s

landmark projects, alfanar continues its contribu-

tion to the development of the infrastructure in

the country. The recently inaugurated 448 kms,

Haramain High Speed Railway is one of such

projects, where alfanar designed, constructed

and commissioned 6 extra high voltage substa-

tions (380kV) between Makkah to Madinah. The

substations were built, starting from, the Knowl-

edge Economic City at Medina, the King Abdullah

Economic City at Rabigh, KAI Jeddah Airport and

Makkah.

Wassim Mallouhi, Vice President – Growth

& Strategy, said “alfanar started working on the

electrification of the project in 2011 and hav-

ing completed the same in a record time of 24

months, which considering the distance and

number of substations, was a challenge for any

national company to undertake. We are happy

that the Haramian railway project is now in com-

mercial operation and that the travel distance

between the holy cities has reduced significantly”.

As a trusted partner for mega infrastructure

projects, alfanar’s contribution to it was a major

cornerstone for the company’s journey towards

globalization, with several key projects that are

currently under execution, including 132kV sub-

stations in Dubai. alfanar is also one of the few

organization to have partnered with the Dubai

Electricity and Water Authority (DEWA) for the

construction of High Voltage and Extra High Volt-

age level substations (380kV).

Apart from EPC for substations and power

plants, alfanar is also working as EPC for renew-

able projects in the UK, India and Egypt.

Further, the company has made an impact

as a renowned renewable projects developer and

as a specialized engineering, procurement and

construction company with a global portfolio of

1.7GW in a very short period.

alfanar’s strong portfolio consists of Electrical

Products Manufacturing, Construction, Engineer-

ing Services and Renewable projects develop-

ment. alfanar’s facilities and projects are spread

worldwide, including Spain, Germany, UK, Italy,

UAE, India, Turkey and Egypt.

— SG

The graduates

Official launching of ‘TooMooH’ initiative at Copthorne Hotel Riyadh

Seychelles Tourism Board (STB) delegation led by the manager of STB Office in Dubai Ahmed Fathallah and STB

headquarters’ senior marketing executive Natacha Servina

Steve Weller

The evenings ended with raffle draw

with prizes, where winner/s won a trip

to Seychelles with accommodation and

excursions offered by the partners.

The GCC Roadshow has become

an annual staple to the STB Office

in Dubai as it is a perfect venue to

strengthen the relationship among the

trade partners in the region as well

as pave the way for future profitable

collaborations of the partners with the

local hotels, DMCs, and airline from

Seychelles.

The STB Office in Dubai described

this year’s GCC Roadshow a success,

“We are very happy with the event

results and it will not be possible without

the support of our partners. We believe

that this roadshow is a good way for us

to fortify our relationship with the trade

sector hence roadshows and trainings

will continuously be included in our activ-

ity pipeline in the coming years,” said

Fathallah.

— SG