Banking Sector in Saudi Arabia: Overview
“The banking sector mirrors the economy, so the outlook is extremely bullish,” claims Dr. Bernd van Linder, Managing Director of Saudi Hollandi Bank.
Banking Regulations: All Saudi Banks Are Basel III Compliant
“All Saudi banks are Basel III compliant, and have been so for many months already of the official deadline. We were probably the first country in the world to have all of its banks Basel III compliant,” says Dr. Bernd van Linder, Managing Director of Saudi Hollandi Bank.
Strategy of SATCO Saudi Arabia
“With the leadership of our Chairman and his vision, we have diversified our business line between construction, catering, facilities management, operation and maintenance, airport systems, and other lines of business that we already signed significant international partnerships on,” says Dr. Ahmed Sindi, General Manager of SATCO.
Saudi Economy in 2015
“The Saudi Arabian economy has taken significant strides. Our company, SATCO, being a classified contracting company with a first classification, stands to benefit significantly from the extensive opportunities in construction in particular,” says Dr. Ahmed Sindi, General Manager of SATCO.
Residential Projects in Saudi Arabia
“A company like SATCO that has in excess of 3,000 employees both skilled and lesser skilled stands a great chance of delivering services on a different level… SATCO has actually proven on the ground that we can deliver the performance required by the highest standards,” says Dr. Ahmed Sindi, General Manager of SATCO.
SATCO: Innovation and New Services As A Way Forward
“We expect the Saudi economy to continue its stability; we are banking on that. This means more growth for SATCO. It means that we are also going to be very innovative,” says Dr. Ahmed Sindi, General Manager of SATCO.
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Housing Projects in Saudi Arabia: SATCO’s Project in Taima
“One of the government’s initiatives that SATCO is participating in is that SATCO has won a significant contract by the Ministry of Housing to build 778 villas in the northern region of Taima. It is a large project worth over 400 million Saudi riyals. SATCO so far has been one of the star contractors in terms of performance and delivery for such projects,” says Dr. Ahmed Sindi, General Manager of SATCO.
Demand for Air Travel in Saudi Arabia Will Grow
“Those big infrastructure projects that are catering to a growing economy suggest that demand on air travel and traveling between various parts of Saudi Arabia is going to grow. The government recognized that and has put aside many billions of dollars to improve its international airports and its local airports,” says Dr. Ahmed Sindi, General Manager of SATCO.
Airports in Saudi Arabia and SATCO’s Investments
“SATCO is very active in airport systems. For more than 25 years, we had a contract to operate the luggage carousels in King Khalid Airport,” says Dr. Ahmed Sindi, General Manager of SATCO.
Outlook for Saudi Arabia is Bright According to Al Ajlan
“Saudi Arabia has a bright future. There is a lot of expansion going on. The government is spending a lot of money, especially in the western areas of Mecca, Medina, Jeddah and the King Abdullah Economic City,” says Dr Mohammed A. Al-Ajlan, CEO of Ra-yek Real Estate.