Abu Dhabi Ports said to raise $1 billion loan

Abu Dhabi Ports said to raise $1 billion loan
Abu Dhabi Ports said to raise $1 billion loan

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Jeddah - Yasmine El Tohamy - RIYADH: -headquartered international design and architect firm Brewer Smith Brewer Group (BSBG) is expanding its network of offices to Saudi Arabia in a bid to capitalize on the Kingdom’s growing pipeline of projects.

BSBG, which delivered its first project in the Kingdom almost a decade ago, has since witnessed “continued demand” among Saudi developers, it said in a press statement.

The group said that it was working on a number of new projects in the Kingdom, including an educational facility in Riyadh that is set to be one of the region’s largest schools, a five-star hospitality and residential development and a boutique retail and entertainment district.

BSBG Managing Partner Alistair McMillan said that the current project schedule, coupled with future projects currently in the pipeline, warranted the establishment of a permanent studio to be located in Riyadh.

“We have made a long-term commitment to the Kingdom, and I am certain we will make significant contributions to the ambitious projects planned as part of the Saudi Vision 2030,” he said.

The company added that they had received the proper investment and trade licenses, allowing them to provide architectural and engineering solutions throughout the Kingdom.

“A number of senior representatives and partners with local expertise are now on the ground in Riyadh, actively working on our existing projects. We are looking to exponentially grow the team, employing national talent and ensuring that the BSBG standard of design and delivery is upheld and adapted for the Saudi market,” McMillan said.

The Riyadh studio will be the fourth location in which the group has permanently established a presence, following the establishment of its headquarters in Dubai in 1976, as well as studios in Ho Chi Minh City in Vietnam in 2016 and London in 2017.

The Royal Commission for Riyadh City has set a target to attract up to 500 foreign companies to establish their regional headquarters in the capital over the next 10 years, as part of aims to double Riyadh’s population.

According to studies, the strategy program will create 35,000 new jobs for Saudi nationals and help to pump up to SR70 billion ($18.67 billion) into the national economy by the end of the decade.

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