Chedid Re, a company of Chedid Capital Holding — one of the top 20 reinsurance brokers in the world, and the only Arab Lloyds Broker — won the best reinsurance broker in Saudi Arabia award at the Arabian Business Awards for outstanding success and innovation in the reinsurance industry.
Held on Feb. 19, the 2018 Arabian Business KSA Awards honored top individuals and companies that have delivered success, innovation and excellence, as well as those that have made a vital contribution to the vibrancy of business within Saudi Arabia and across the region.
The crowning of Chedid Re for the award reinforces the company’s market-leading status in the Kingdom. The company, in collaboration with multiple capacity providers, and fueled by ongoing market research and exposure, has successfully created a range of innovative bespoke re-insurance solutions and services for companies in Saudi Arabia.
Elie Abi Rached, CEO of Chedid Re KSA, said: “We are delighted and honored to be awarded by highly-acclaimed Arabian Business Awards. The nomination is a testament to Chedid Re’s excellent business reputation, effective management, and sustainable performance. Chedid Re has always been at the forefront of implementation of quality management measures in its day to day operations, which is reflected in its strong performance over the years.
“We would like to share this award with our clients, as we remain committed to servicing them with transparency and efficiency. By targeting the best practices that position our business to qualify for awards, we have optimized our company’s performance and established a culture of achievement that promotes sustainable growth.”
He added: “Saudi Arabia’s insurance market is the biggest in the region and remains poised for further rapid growth in the years to come, as the economy expands and diversifies, leading to greater demand for reinsurance products and higher rates of affordability from the enormous potential consumer market under the guidance and supervision of the Saudi Arabian Monetary Agency. We will continue this journey with a firm strategy, and keep providing Saudi recruits continuous training and career advancement opportunities to develop their skills, attracting local talent and building a Saudi national workforce of high potential to be capable of leading Saudi Arabia’s reinsurance business today and in the future.”
Chedid Re named best reinsurance broker in KSA
Chedid Re named best reinsurance broker in KSA
Al-Saedan launches $400m investment platform for real estate, digital infrastructure
Al-Saedan Real Estate Company of Saudi Arabia, in collaboration with Serpentine Lake Capital of the UK and SGI Real Estate of Canada, have announced the establishment of a joint development and investment platform under the name SL Property. The platform will develop commercial, residential, and hospitality projects, alongside infrastructure and data center projects, across the Kingdom. It reflects the growing international interest in Saudi Arabia’s real estate and digital infrastructure markets and supports the development of high-quality, long-term assets within the Kingdom.
The agreement signing ceremony was held under the patronage of Minister of Municipal, Rural Affairs and Housing and Chairman of the Real Estate General Authority Majid bin Abdullah Al-Hogail, as part of the Future of Real Estate Forum, in which Al-Saedan Real Estate participated as a strategic sponsor. The ceremony was attended by Dr. Badr bin Ibrahim bin Saedan, chairman of the board of Al-Saedan Real Estate; Ahmed bin Ibrahim bin Saedan, vice chairman of the board of Al-Saedan Real Estate; Ben Mikola, representative of Serpentine Lake Capital and SL Property; and Hassan Al-Shawwa, representative of SGI Canada.
The attendance reflects the strategic importance of the initiative and the continued support of the authority in facilitating the attraction of high-quality international investments into the Kingdom’s real estate and digital infrastructure sectors.
This development follows the issuance of the Regulation on Real Estate Ownership by Non-Saudis in Saudi Arabia, which came into effect in January. The updated regulatory framework is expected to expand access to international investment, facilitate foreign investor participation in strategic sectors, and increase the depth of institutional capital flowing into the real estate, infrastructure, and data center sectors in the Kingdom.
The platform is targeting initial joint investments of SR1.5 billion ($400 million) in partnership with Al-SaedanReal Estate, representing the first phase of a broader, multi-stage investment program. In its initial phase, SL Property — Al-Saedan intends to invest in six to eight projects across real estate, infrastructure, and data centers, with additional opportunities anticipated as the platform’s activities expand in the future.
The initial projects will be concentrated in Riyadh and Jeddah, and will include mixed-use developments, commercial assets, residential projects, and infrastructure related to data centers. These projects are designed to be scalable, sustainable, and aligned with national development priorities, including housing expansion, enhancement of urban quality of life, hospitality sector growth, and strengthening the Kingdom’s digital services capabilities.
Al-Saedan Real Estate is one of the oldest private real estate development companies in Saudi Arabia, with more than 80 years of operational experience and a strong track record that includes the development of seven major integrated urban communities, in addition to numerous commercial, hospitality, and associated infrastructure projects.
The SL Property platform will serve as a dedicated investment vehicle for this initiative, with Serpentine Lake Capital contributing its asset management expertise, and SGI Real Estate providing its specialized real estate sector experience. The platform’s structure is intended to combine local development capabilities with disciplined international investment practices and robust governance standards.
This initiative aligns with the Kingdom’s economic diversification objectives and reflects growing confidence in the updated regulatory framework governing the real estate and digital infrastructure sectors. As the platform evolves, it is expected to provide both local and international investors with access to high-quality investment opportunities across the real estate and data center sectors throughout the Kingdom.
Dr. Badr bin Ibrahim said: “At Al-Saedan, we are pleased to be among the first beneficiaries of the promising new foreign investment system. Following our success in raising several local investment funds, we look forward to expanding our expertise and partnerships at a global level.”
Mikola added: “We are pleased to partner with Al-Saedan, whose strong track record provides a solid foundation for this collaboration. As the platform develops, we expect to explore opportunities to expand into real estate and infrastructure projects within the Kingdom of Saudi Arabia and beyond. The Kingdom represents a fast-growing market driven by clear structural factors, and we look forward to developing high-potential opportunities through a disciplined and focused approach.”
