More along the theme of “walk softly and carry a big stick…” I am made the decision a few months ago to stop discussing naseba updates, or achievements in this blog.
Not just because I don’t want to share information with our competition, but also because we climbed up the proverbial mountain, the late 2008 winds of crisis knocked us down, we got back up, refocused and have kept on climbing, more efficient and focused than ever….but, consistent results speak louder than words.
However, Fabien asked me to do a blog highlighting the press release on the joint venture naseba confirmed in Riyadh — my blog has picked up a strong readership in KSA, the 2nd largest readership to the USA – the recent local media coverage in KSA has brought new readers, and a few clients and partners have commented to Fabien about visiting this blog.
At the end of the day, as significant and exciting as this joint venture is for naseba … I will let the success and future success of the partnership with Star Holdings in Saudi Arabia speak for us.
HH Prince Bandar bin Saud bin Khaled bin Muhammad Al Saud, Founder and Chairman of Saudi Trading and Resources (STAR) Group, and Scott Ragsdale, Chairman of naseba group, announced the launch of a strategic partnership to conceptualise, produce and execute large-scale, targeted events in the Kingdom of Saudi Arabia.
The Kingdom is currently experiencing exponential growth across multiple sectors including real estate, education, infrastructure and petrochemicals – sectors to which both groups bring considerable experience and expertise.
HH Prince Bandar bin Saud bin Khaled bin Muhammad Al Saud, whose group has helped launch and represents other prominent multi-national corporations such as Thomson-Reuters, The Nielsen Company, AON Insurance, TBWA/Raad Advertising, The Landmark Group, and Harvey Nichols, into the Saudi Arabian market commented on this latest alliance and what it brings to the Kingdom:
“The strategic alliance between the STAR Group, with its considerable reach in business in the Kingdom, and naseba, a world-class event organiser and management company, creates unlimited prospects for high level international events and forums, designed to showcase the Kingdom’s enviable economic progress, and is expected to promote Saudi Arabia as a leading economic force in the world and Middle East as a very attractive destination for strategic investments.”
Drawing on STAR Group’s extensive network and their expertise in addressing complex local business practices, coupled with naseba’s proficiency in hosting high calibre deal flow platforms, this alliance will further reinforce naseba’s strong presence in the GCC and in particular Saudi Arabia.
Ragsdale commented: “The STAR Group Holdings is one of the most dynamic and successful organisations in the Kingdom of Saudi Arabia. We are honoured to be associated with both the group and their highly respected leaders HH Prince Bandar bin Saud bin Khaled bin Muhammad Al Saud, HH Princess Anoud bint Khaled bin Abdullah bin Mohamed Al Saud and the CEO, Khalid Al Sharfa.”
He continued, “Over the past 18 months, naseba has successfully held 15 high profile executive summits without a strategic partner in Saudi Arabia. Now, this alliance with STAR Group brings immense value, not only to the shareholders of both our corporations, but also to our clients and employees, by raising the profile of our Kingdom of Saudi Arabia product.
Most importantly, this pact enables both of our groups to pave the way for outside businesses and individuals to experience the largest and most liquid economy in the Middle East.”
About Saudi Trading and Resources Co. Ltd. (STAR Group Holdings)
STAR Group Holdings was established in 1989 in Riyadh, Saudi Arabia as Saudi Trading and Resources (STAR), with a portfolio of business units, commercial licenses, subsidiaries and affiliates, active in multiple industries across the Kingdom.
STAR’s business model is the formation of strategic alliances and joint ventures in Saudi Arabia and the Arabian Gulf region, with international and regional companies who are leaders in their respective industries.
Global and regional companies such as Thomson-Reuters (financial information services); Aon Corporation (insurance); The Nielsen Company (research); and the Landmark Group (Department Stores) have joined STAR Group to establish successful and profitable business ventures in Saudi Arabia.
These companies rely on STAR to guide them in the often complex local business practices, regulations and legal requirements necessary to establish a strong presence in domestic Arabian Gulf markets.
STAR Group’s resources and efforts are concentrated on assuring its partner companies a leading business presence in the Kingdom of Saudi Arabia, which represents 80 percent of the Arabian Gulf markets, with its high disposable income and affluent population of 27 million.
For more information on STAR Group Holdings, please visit www.starholding.org