(MENAFN- Mid-East.Info) Riyadh, Saudi Arabia – SEDCO Holding, a leading Saudi investment company, announced its plans to open a new office in KAFD. Its new offices will be located in the SOM-designed 70,000 sqm 'muqarnas'-inspired tower, adjacent to the Wadi and the financial Plaza.
A unique building in KAFD, the tower's façade took its inspiration from the three-dimensional 'muqarnas' decorative device used in Islamic architecture, helping create distinctive office spaces with enhanced shade and protection from the sun. The architecture and energy requirements of the building take into consideration the surrounding climate and environment with sun control and shading devices improving daylighting within the offices, minimising glare, and controlling the amount of sunlight and heat gain admitted.
With almost five decades of empowering Saudi-based businesses and communities, SEDCO Holding supports the Kingdom's economic diversification by investing in operating companies that scale to become leaders in strategically important sectors. The Shariah-compliant investment Group continues to actively seek investment opportunities that spur real economic growth and social development in full alignment with the Kingdom's Vision 2030.
Set in the heart of the capital, KAFD is home to 1.6 million square meters of state-of-the-art office space, world-class venues and iconic luxury residences, designed to transform the way urban communities live, work, learn and play. The landmark development, KAFD is a key driver of Riyadh's economic ambitions. It is owned and managed by the King Abdullah Financial District Development and Management Company (KAFD DMC).
Welcoming the SEDCO Holding move, Gautam Sashittal, CEO of KAFD DMC, commented,“KAFD is an ideal location for businesses in the financial services and investment sectors. The Islamic finance industry has expanded rapidly over the past decade, growing at 10-12% annually, and SEDCO's decision to be a part of the wider KAFD family will bring them into closer contact with prospective partners. We look forward to supporting SEDCO in its investment and wealth generation efforts in line with our mutual interest in growing the Kingdom's economy and increasing its prosperity.”
Rayyan Nagadi, SEDCO Holding CEO added,“We are excited to join the KAFD community. Over our long track record at SEDCO Holding, we played a pioneering role in sustainable development and currently we are an active investor guided by the goals of the Saudi Vision 2030. Our move to KAFD situates us in a vibrant business nexus that amplifies our ability to access more investment and FDI streams. We look forward to growing our contribution to the nation, in a hub designed for outreach, networking and access to more opportunities.”
About KAFD
Situated in Riyadh, KAFD is an iconic business and lifestyle destination with state-of-the-art physical and digital infrastructure. The destination is owned and managed by the King Abdullah Financial District Development and Management Company (KAFD DMC), which was established in 2018 and is a wholly owned subsidiary of the Public Investment Fund (PIF), the sovereign wealth fund of the Kingdom of Saudi Arabia. KAFD's 94 towers, designed by 25 world-leading architectural firms, have reshaped the skyline of Riyadh. The vibrant mixed-use district offers a range of experiences across its area of 1.6 million square meters and is the largest development globally to achieve LEED Platinum certification, the highest accreditation from USGBC (U.S. Green Building Council), which recognizes KAFD as a global leader in sustainability.
About SEDCO Holding:
SEDCO Holding is a leading Saudi investor, with a solid track record of success and excellence. Established in 1976 in Jeddah, Saudi Arabia, the Group has grown its portfolio exponentially making it one of the Kingdom's largest family-owned holding companies, displaying a strong system of governance, as well as solidifying its position as an expert in world-class investment, a driving force for positive, sustainable social impact, and a strategic contributor to the Saudi Vision 2030.
SEDCO Holding manages a diverse portfolio of investments across multiple strategic sectors, including hospitality, healthcare, education, asset management and real estate. The Group plans to bolster its investments in sectors that support the realization of the Kingdom's national economic growth and diversification plans while playing an active role in developing the nation's society.