16 October 2010
Ghassan Al-Nemer Holding Group and Capita Symonds have
announced the formation of a joint venture company, Capita Symonds
Saudi Arabia Ltd.
The joint venture will deliver project
management and design services in the Kingdom of Saudi Arabia - the
world’s fastest growing large country in terms of population over
the past 10 years - where current infrastructure and public sector
building programmes are valued at some 35 billion dollars
(£22bn).
Capita Symonds will also liaise with the Saudi
Arabian conglomerate’s European business, Empire Capital Ltd, which
specialises in property investment and development schemes in
London and the wider UK.
Commenting on the joint venture, Capita Symonds’ Managing Director
Jonathan Goring (pictured seated above with Sheikh Ghassan Al
Nemer, and representatives of Capita Symonds and Ghassan Al-Nemer
Holding Group) said:
“We are delighted to have signed this
agreement with Sheikh Ghassan Al Nemer. Our joint venture presents
both parties with huge opportunities both in the thriving economy
and property markets in Saudi Arabia and the wide Middle East, as
well as in the UK.”
Ghassan Holding hopes to grow its land and
property portfolio by 50 percent to 4.5 billion Riyals ($1.2
billion) this year. It also plans to invest up to 250 million
pounds ($360 million) in central London development.