Face to Face Communications Group
A homegrown UAE agency group delivering communications work globally. Despite the worldwide challenges of the past 18 months, Face to Face has grown its team of 50, producing the Messi campaign for Expo 2020, several global Parker Pens campaigns and the Pepsi music campaign for Saudi featuring Hussain AlJassmi.
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Mideast Stocks: Most Gulf stocks rebound on earnings, US-Japan trade deal
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Zawya
4 hours ago
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Mace Group announces majority investment in Mace Consult from Goldman Sachs Alternatives
Mace Group has announced a majority investment in Mace Consult by Private Equity at Goldman Sachs Alternatives through a carve-out from Mace Group. The new partnership will support Mace Consult's ambition to become the world's leading programme management consultant as an independent business. Mace Consult is a critical delivery partner for the world's most complex and marquee infrastructure and built environment projects, including the Hudson Tunnel Project in New York, Qiddiya in Saudi Arabia and the New Hospitals Programme in the UK. Mace Consult generated AED 3.4bn (£687m) of revenue in 2024 and employs more than 5,200 people across four global hubs: Europe, the Americas, Asia Pacific and the Middle East and Africa. Davendra Dabasia will continue to lead Mace Consult as CEO of the independent business. Over the last three decades, Mace Consult's expert teams have advised clients on the development and delivery of iconic programmes around the world; from global mega-events such as the London 2012 Olympic and Paralympic Games and Expo 2020 Dubai, to multi-billion dollar infrastructure investments such as the GO Expansion rail programme in Canada and the Reconstruction with Changes in Peru. A number of Mace Group's shareholders, including Executive Chair Mark Reynolds and Mace Group CEO Jason Millett, will retain a minority stake in Mace Consult and will work closely with Goldman Sachs Alternatives as members of the new Mace Consult Board. Mark Reynolds will be appointed Chair. Building on over a decade of sustained double-digit organic growth and an expansion into delivering major programmes across the Americas, Europe, Asia Pacific and the Middle East and Africa, the new partnership will see Mace Consult target strategic acquisitions to bolster its presence in key growth markets. Mark Reynolds, Mace Group's Executive Chair, said: 'This transaction is a key milestone in securing the long-term future of Mace Consult, enabling the next phase of growth for our global consultancy practice. The shareholders, the board and I are extremely proud of the progress we've made collectively to achieve this outcome. 'Since 1990, and accelerating since the success of the London 2012 Olympics, Mace Consult has transformed the industries it serves, delivering to exceptional standards and redefining the boundaries of ambition. We have established a foundation to enable the business to flourish for decades to come.' Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives, added: 'We are delighted to invest in Mace Consult and accelerate its growth trajectory as an independent business both organically and through strategic acquisitions. Through the global Goldman Sachs network and value acceleration resources, we see the potential to support Mace in delivering critical client outcomes during this period of heightened uncertainty and transformation.' Davendra Dabasia, Mace Consult's CEO, said: 'I am excited to lead Mace Consult on this next stage in our journey, working in close partnership with Goldman Sachs Alternatives. Our teams around the world have delivered exceptional growth over the past few years, and our new partnership will enable us to build on that to become the world's leading delivery consultant. 'As a standalone business, we will be positioned to further support our global infrastructure and built environment clients by scaling up at pace in North America and enhancing our digital solution delivery for clients.' Alex Mass, Managing Director within Private Equity at Goldman Sachs Alternatives, added: 'The long-dated trends of climate change, technological disruption, demographic shifts and urbanisation represent one of the fundamental project delivery challenges in history, requiring innovative management approaches, as demonstrated by Mace Consult over the years. 'As an independent business, Mace Consult is distinctly positioned to support clients in unlocking the full potential of every project around the world - and we are proud to support the employees of Mace Consult in this journey.' Mace Group was advised by UBS (M&A) and Linklaters (Legal). Goldman Sachs Alternatives was advised by Lazard (M&A and Financing), Jefferies International Limited (M&A) and White & Case (Legal). The transaction is subject to regulatory approvals (amongst other conditions) and is expected to close in 2025.
Arabian Business
4 hours ago
- Arabian Business
Riyadh's rental gold rush is just beginning
Saudi Arabia is undergoing one of the most ambitious economic transformations of the 21 st century, and nowhere is this more visible than in Riyadh, the capital and economic centre of the country. Much like New York in the 1930s or Dubai in the 1990s, the capital is experiencing a period of rapid, visionary growth that is reshaping its urban fabric and global standing. At the heart of this transformation is a vibrant, maturing real estate sector, buoyed by Vision 2030, demographic shifts, and rising demand for quality living. For global investors, Saudi Arabia's luxury real estate market is emerging as a smart, strategic option. The Kingdom's real estate market has displayed remarkable momentum over the past five years. Valued at approximately SAR 256.9 billion in 2024, it is projected to exceed SAR 412.5 billion by 2030. This represents a compound annual growth rate of nearly 9 per cent, driven by large-scale public investments and evolving domestic demand. Riyadh's property landscape sees transformation Fuelling this growth is a population boom in key urban centres. Riyadh is on track to grow from 7 million in 2022 to 9.6 million by the end of the decade. Crucially, this includes a substantial increase in the expatriate population, thanks to the Kingdom's new residency incentives and its push to become a regional business and investment hub. As the real estate market continues to expand, the luxury residential segment stands out as a high-potential frontier. In 2024, it was valued at approximately SAR 56 billion, projected to exceed SAR 75 billion by 2030, reflecting increasing demand for high-quality housing and the Kingdom's strategic focus on livability and urban excellence. At the same time, while homeownership remains a central pillar of national housing policy, the luxury rental market in Riyadh is gaining significant traction. For many residents, especially affluent expatriates, renting offers the flexibility and immediacy that ownership, due to its extensive prerequisites, does not always provide. Eligibility requirements for ownership, such as Premium Residency status or a minimum investment threshold of SAR 4 million, can place it out of reach for many potential residents. This reality has bolstered the appeal of high-end leasing options, with luxury rentals emerging as a deliberate lifestyle choice. The demand is expanding, as recent data shows that residential rental yields rank among the highest within the region, ranging between 9.1 per cent and 11.5 per cent in Riyadh, underscoring the segment's growing investment potential. Premium leasing The widening gap between rising lifestyle expectations and the current supply of premium rental inventory presents a clear opportunity for developers and operators. As the Kingdom deepens its global integration, both citizens and expatriates are seeking residences that match elevated standards in design, technology, and overall living experience. The growing appetite has translated into tangible market gains. According to recent data, residential rental rates in the capital rose by 10–23 per cent year-on-year in 2024, with the most significant increases observed in upscale districts. These dynamics reflect both the resilience and the rising value of the luxury leasing market, underscoring its appeal as a high-potential investment channel within Saudi Arabia's evolving real estate landscape. Investors focused on the leasing segment are well-positioned to benefit from these evolving dynamics. Several converging factors collectively shape a supportive environment for luxury real estate. Rapid demographic growth is creating sustained demand for high-quality housing. Riyadh alone is expected to absorb over 220,000 new residential units by 2030, rising to more than 305,000 by 2034. Complementing these dynamics are a series of policy incentives that have bolstered the real estate ecosystem. The Saudi Real Estate Refinance Company (SRC) has committed over SAR 75 billion in refinancing efforts to support developers and streamline market liquidity, while new financing models and streamlined leasing regulations are improving access across the board. Although supply is scaling up through major developments, much of this inventory is still in the pipeline and expected to come online gradually between 2025 and 2030. This supply lag offers a window of opportunity for investors and operators to meet current demand and establish a strong presence in the market ahead of delivery cycles. In this context, institutional and high-net-worth investors should look beyond traditional ownership models and consider the value in leasing-focused strategies. In Saudi Arabia, luxury is no longer defined solely by the asset itself, but by the full living experience. Properties that deliver on that, especially in the rental space, are attracting long-term tenants, commanding premium lease rates, and contributing to stronger overall returns. Saudi Arabia is reimagining how its cities function, who they serve, and what kind of lifestyle they enable. As this reconfiguration unfolds, the leasing market will play a vital role in delivering flexible, high-quality housing options for a globally mobile and increasingly discerning population. Investing in Saudi Arabia's premium leasing sector today offers more than income potential. It represents a strategic alignment with the country's broader economic and urban development vision. Luxury rentals go beyond meeting immediate market needs, shaping the next generation of Saudi living. For investors, operators, and developers who understand this shift, the opportunity is clear: to be part of a forward-looking, high-performance segment that sits at the intersection of policy, demand, and growth.
