Taiba Holding to bring Sheraton hotel to Madinah

Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International, and Qasim bin Abdul Ghani Al-Maimani, CEO of Taiba, at the signing ceremony.
Updated 02 May 2019
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Taiba Holding to bring Sheraton hotel to Madinah

Saudi real estate developer Taiba Holding Company has signed a deal with Marriott International to develop the Sheraton Taiba Hotel, Madinah, located close to the main entrance of Al-Masjid Al-Nabawi. The hotel will mark the return of the Sheraton brand to Madinah.

The five-star property is set to be developed on a 1,019-square-meter plot of prime real estate located in the northern area of the Prophet’s Mosque.

The hotel will comprise 268 guest rooms and offer collaborative venues, technology-enabled design and three culinary concepts under Sheraton’s refreshed F&B philosophy.

Construction on the hotel, which is being funded by Taiba Holding along with a Shariah-compliant loan, is expected to begin in the second quarter of 2020 with doors opening to the public in 2023. 

The agreement between Marriott International and Taiba was signed in a ceremony attended by Chief Executive Officer of Taiba Qasim bin Abdul Ghani Al-Maimani and Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International, and the teams’ management personnel. 

Taiba CEO Al-Maimani said: “We are very happy to be working with Marriott International to bring the Sheraton brand back again in its new transformed shape to Madinah. We continue to join hands with experienced partners to add value to our shareholders and community by bringing iconic projects to life. This deal underscores this mission and our renewed focus on expanding Taiba’s real estate investment and development activities by leveraging our substantial land bank across the Kingdom to develop hotel properties that support the Kingdom’s economy, whilst delivering memorable experiences to Madinah’s regional and global guests.”

Marriott International’s Kyriakidis said: “We are delighted to work with the Taiba Holding Company to open our new Sheraton in Madinah, which will represent the brand’s new identity offering guests a unique experience through enhanced services and designs while staying true to its legacy.” 

“We remain committed to supporting the growth of the tourism and hospitality sector under the Saudi Vision 2030 and National Transformation Program 2020, with the purpose of enhancing the country’s economy and strengthening our presence in the Kingdom,” added Kyriakidis

“Taiba is a keen supporter of the Kingdom’s Vision 2030, in particular by driving economic diversification through investing in and developing commercial real estate projects that elevate and grow the religious tourism industry which represents a significant part of the Kingdom’s non-oil economy. The government plans to attract 30 million pilgrims by 2030 and as a result, we expect the demand for hotels in the holy cities to increase further in the coming years,” Al-Maimani added.


‘Wealth Grows Here’: Aljazira Bank launches new brand identity

Updated 23 December 2025
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‘Wealth Grows Here’: Aljazira Bank launches new brand identity

Aljazira Bank announced the launch of its new brand identity under the slogan “Wealth Grows Here,” marking a natural evolution in a growth journey spanning more than five decades. Over the years, successive phases of transformation have shaped the bank into what it is today, with the new identity serving as the culmination of a strategic chapter that strengthened the bank’s role within the Saudi banking sector.

As part of this milestone, the new brand launch also extended to Aljazira Capital, the bank’s investment arm, reflecting a unified vision and strategic alignment across the group. The updated identity of Aljazira Capital underscored its evolution as a specialized investment and wealth management institution, focused on delivering carefully structured investment solutions and strengthening its role as a trusted partner in building and growing long-term investment portfolios, fully aligned with the bank’s broader direction.

The announcement also included the launch of the new identity for Fawri, aligning it with the bank’s updated brand and reflecting its commitment to delivering reliable and seamless financial transfers within an advanced and integrated financial ecosystem.

Naif bin Abdulkareem Al-Abdulkareem, CEO and managing director of Aljazira Bank, said: “The new brand identity goes beyond a visual change; it is a true reflection of what the bank has become today. Since the strategic refresh in 2023, we have restructured how we operate, aligned our business lines around a shared objective, and strengthened execution. The progress we see today, in service quality and speed of delivery — confirms that we are moving in the right direction.”

The new identity reflects the outcomes of the bank’s 2023 strategic transformation, a pivotal milestone in its journey. This phase focused on developing an integrated banking ecosystem with a stronger emphasis on individual wealth management, supported by a more agile and efficient operating model led by digital channels. It balanced sustainable growth with strengthening the corporate portfolio, accelerating investment in digital infrastructure and human capital, and enhancing operational efficiency.

Since its establishment, Aljazira Bank has progressed through successive stages of growth, evolving from a traditional bank into a more innovative and specialized financial institution. Today, it places wealth management at the core of its proposition, offering a banking experience built on long-term relationships and a deep understanding of clients’ financial aspirations. In parallel, the bank has continued to reinforce its role as a trusted partner to the business sector, serving large corporates as well as small and medium-sized enterprises through solutions that support growth, sustainability, and the Kingdom’s broader economic development goals.

At the heart of this direction stands the bank’s new slogan, “Wealth Grows Here,” which captures its role as a key partner in building and preserving wealth for individuals and businesses alike, creating sustainable value beyond the delivery of traditional banking services.