Category Archives: Business & Investments

Business & Investments

Ajman Bank Launches Real Estate Subsidiary – Skyrise Properties

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Ajman Bank Launches Real Estate Subsidiary – Skyrise Properties

Ajman Bank, one of the leading Islamic financial institutions in the UAE, has announced the launch of Skyrise Properties,a dynamic new fully owned subsidiary focused on real estate asset management. Headquartered in the UAE, Skyrise Properties is set to revolutionize the property management sector.

This strategic move marks a pivotal chapter in Ajman Bank’s transformation journey of diversification and innovation and will complement the bank’s core business offerings, with a range of services including property management, sales, leasing, brokerage, third-party evaluations, and facility management supervision.

Making the announcement, Mustafa Al Khalfawi, CEO of Ajman Bank, said, “The launch of Skyrise Properties signifies a momentous milestone for Ajman Bank. This new venture, is a crucial stepfor us in the realm of property management and real estate, where we aim to set new benchmarks and redefine standards. Our mission is clear – to elevate not only Skyrise Properties but also Ajman Bank to new heights.”

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Business & Investments

Saudi Real Estate Refinance Company (SRC) Extends its Refinancing Agreement with Alrajhi Bank with an Additional SAR 5.8 billion

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Saudi Real Estate Refinance Company (SRC) Extends its Refinancing Agreement with Alrajhi Bank with an Additional SAR 5.8 billion

Riyadh, Saudi Arabia, 03January 2024 – The Saudi Real Estate Refinance Company (SRC), wholly owned by the Public Investment Fund (PIF), has extended its refinancing agreement with Alrajhi Bank, the world’s largest Islamic bank by mortgage assets and market cap, with an additional SAR 5.8 billion bringing the total value of refinancing agreements between the two to SAR 10.8 billion.

The continued collaboration between SRC and Alrajhi Bank, as highlighted by this new agreement, pinpoints SRC’s pivotal role in enhancing growth capabilities of banks and financiers through offering liquidity, capital management, and balance sheet de-risking solutions that will lead to an increase in the origination of new home loan assets, making home financing more accessible.

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Business & Investments

British Business Group becomes British Chamber of Commerce Dubai

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New brand identity endorsed by Dubai Chambers and the British Chambers of Commerce

British Business Group Dubai and Northern Emirates (BBG) is marking a significant milestone in the history and future of the organisation,adopting the titleof Chamber of Commerce. Endorsed by Dubai Chambers and the British Chambers of Commerce, the group will be known as the British Chamber of Commerce Dubai.

Andrew Mortimer, Chair and CEO, BBG

Representing British businesses in Dubai and the Northern Emirates since 1997, the group has provided a dedicated and consistentplatform for creating stronger trade relations between the UK and UAE. The transition to Chamber followsthe group’s recent success,winningsecond place in the British Chambers of Commerce Best International Chamber of the Year. The award was also commended by Dubai Chambers as a testament to the substantial and significant support BBG has offered to British businesses in Dubai.

Katy Holmes, General Manager, BBG

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Business & Investments

BinSulaiman Group – OBS, a UAE Family Business, Wins Fastest Growing Company of the Year 2023 Award

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BinSulaiman Group – OBS, a UAE Family Business, Wins Fastest Growing Company of the Year 2023 Award

Dubai, UAE – January 3, 2023: BinSulaiman Group – OBS, a renowned UAE family business founded by Dr. Omar BinSulaiman, has been honored with the prestigious “Fastest Growing Company of the Year 2023” award. This recognition comes as a testament to the company’s exceptional growth, innovative business practices, and commitment to quality.

Dr. Omar BinSulaiman, Founder & Chairman BinSulaiman Group -OBS

BinSulaiman Group – OBS is a privately held, diversified group with operations in the Middle East, UK, and emerging markets with enduring business partnerships. It has expanded into a diverse conglomerate/business group, leading in industries such as Automotive Aftermarket Services & Products, Lifestyle, Luxury Retail, F&B, Real Estate, Global Logistics, Trading, FMCG, Investments, Leisure, Healthcare, & Consulting.

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Business & Investments

IHC announce the formation of 2PointZero – A Next Generation Holding Company

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IHC announce the formation of 2PointZero – A Next Generation Holding Company

Tahnoon bin Zayed Al Nahyan: “Embracing the future with open arms, with commitment to developing solutions that redefine industries. Our vision transcends boundaries, and our mission is to build sustainable ecosystems that empower communities, cultivate technological excellence, and ensure financial resilience.”

  • IHC Board greenlights to initiatethe transfer of 2PointZero to IHC, uniting several dynamic companies under a Pioneering Holding Company.
  • 2PointZero is powered by an ‘Impressive Portfolio’ of industry leaders,creating a Holding Company with assets expected to reach beyond AED 100 billion.
  • 2PointZero embodies innovation across multiple sectors, including Financial Services, Investment Banking, Technology&AI, Mining &Resource Management, and Digital &Crypto Ecosystems.

Abu Dhabi, 2ndJanuary 2024: Today, the globally diversified Abu Dhabi-based conglomerate, International Holding Company (ADX: IHC), announced a landmark move. The IHC Board approved the initiation of the transferof 2PointZero, a next generation Holding Company comprisingseveral diverse and dynamic companies, to IHC. Spanning multiple sectors, business combinations of entities under common control,have been combined to form 2PointZero, boasting an impressive asset size expected to exceed AED 100 billion(transfer will be completed after obtaining all regulatory approvals).

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