VIDEO: Olam Agri backed by Saudi PIF secures $1.85bln dual-tranche financing facility
The funding comprises a $1.6 billion conventional facility and a $250 million Islamic tranche. Watch the Zawya video here:
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Zawya
an hour ago
- Zawya
Ascott aims major expansion of its Crest Collection
The Ascott Limited, the wholly owned lodging business unit of CapitaLand Investment (CLI), is accelerating the global expansion of its European-born luxury brand, The Crest Collection, in response to growing demand from luxury travellers for distinctive, heritage-rich stays. Over the past six months, the brand has gained strong momentum across East Asia and the Middle East, adding over 1,200 units from four new signings and one opening. The portfolio now comprises 16 properties with over 2,700 units, both operational and in the pipeline, across 11 countries and 13 cities. As a key brand within the Ascott Star Rewards (ASR) programme, The Crest Collection enhances the diversity of the ASR portfolio, offering members a broader range of luxury options and more opportunities to experience heritage-inspired stays around the world. Among the newest additions in East Asia is SEN/KA TOKYO by The Crest Collection, set to open in the second half of 2029, marking the brand's debut in Japan. Also contributing to growth in the region are two developments in China: Hong Yuan Hotel by The Crest Collection, which opened in Haikou, Hainan Province, at the end of last year, and a property slated to open by mid-2026 in Wuhan's Donghu New Technology Development Zone, commonly known as Optics Valley. In the Middle East, Al Mahra Resort by The Crest Collection – the brand's first resort and its debut in the United Arab Emirates – will open in early 2027, to be followed by the brand's first property in Saudi Arabia, opening in Riyadh in 2028. Opening in the second half of 2029, SEN/KA TOKYO by The Crest Collection will mark the luxury brand's debut in Japan. The property's lounge offers sweeping views of the Nihonbashi River, giving guests a unique chance to savour special moments in the heart of Tokyo. The luxury hotel-in-residence with 92 units incorporates elements of kimono culture, tradition and craftsmanship into its design and stay experience. This expansion into East Asia and the Middle East builds on the brand's growing traction in Southeast Asia. La Clef Bangkok by The Crest Collection, set to open in mid-2025, will become the brand's fourth property in the region, following the 2023 debut of The Grand Mansion Menteng by The Crest Collection in Indonesia, The George Penang by The Crest Collection in Malaysia and The Robertson House by The Crest Collection in Singapore. Meanwhile, the brand's seven other operational and pipeline properties are located across Europe, where The Crest Collection was first established in 2016. Opening mid-2025, La Clef Bangkok by The Crest Collection is located near the Thong Lo BTS station on the historically significant Sukhumvit Soi 38. Combining French Art de Vivre with cherished Thai heritage, the property offers a selection of studios and one- to two-bedroom apartments. Each unit boasts spacious layouts, modern amenities and refined décor, offering a serene retreat amid the vibrant energy of Bangkok. Serena Lim, Chief Growth Officer, Ascott, said: 'Interest in luxury stays continues to rise in Asia and the Middle East, driven by travellers seeking meaningful connections to the region's rich culture and heritage. The Crest Collection meets this aspiration with its 'A Story Behind Every Door' brand promise, delivering culturally immersive experiences enriched by each property's distinctive identity, while enabling owners to tap into the strength of Ascott's global commercial ecosystem. Supported by our flex-hybrid model and multi-typology brand strategy, The Crest Collection is highly conversion-friendly, adapting seamlessly across serviced residences, hotels, resorts and other accommodation types. While recent signings highlight new builds such as the brand's first resort, its adaptability also makes it ideal for property conversions that enable swift time-to-market. By tailoring solutions to the unique demands of each location, our market-driven approach empowers us to respond to evolving traveller expectations with agility and deliver sustained value for owners.' The luxury travel sector is projected to grow from $1.4 trillion in 2024 to $2.2 trillion by 2030, driven not just by affluence among the wealthy but also by younger travellers who are willing to pay top dollar for meaningful experiences . With luxury travellers drawn to destinations that excite, along with surprising environments and experiences that speak to their individuality , it is clear that the true essence of luxury lies in celebrating unique stories rather than uniformity. Tan Bee Leng, Chief Commercial Officer, Ascott, said: 'Curating experiences that resonate with the expectations of the most discerning travellers has become the currency of modern luxury. Our most affluent guests are seeking emotional connection, personal transformation and cultural resonance. By integrating heritage narratives with thoughtfully curated hospitality, The Crest Collection offers our guests a luxurious and storied experience rooted in the unique identity of each property and its locale. Defined not only by what is provided, but by what is remembered, every stay at a Crest Collection property reflects Ascott's boutique lens on luxury – one that nurtures individuality and crafts hyper-localised, distinctive experiences that engage all the senses. This approach allows us to offer timeless sophistication, elevated by bespoke touches that reflect the spirit of each destination. As The Crest Collection expands from Europe to Asia and the Middle East, we remain dedicated to redefining modern luxury through evocative, story-driven experiences that deliver meaningful moments with purpose and creativity.' Distinctive Heritage Stories Shape The Crest Collection's Luxury Expansion With every addition, The Crest Collection reinforces its vision of heritage-inspired hospitality. Each property brings local culture to life through design, storytelling and immersive guest experiences. • La Clef Bangkok by The Crest Collection, opening in mid-2025, is situated near Thong Lo BTS station on the historically significant Sukhumvit Soi 38. The 115-unit luxury serviced residence artfully blends French Art de Vivre with cherished Thai heritage, offering a range of premium amenities including a luxurious swimming pool, rejuvenating onsen, inviting residents' lounge and state-of-the-art fitness centre. Beyond easy access to upscale shopping destinations, vibrant entertainment venues and top-tier medical facilities, guests can look forward to a refined selection of studios and one- to two-bedroom apartments, each thoughtfully designed to embody the timeless elegance and rich legacy of its distinguished location. • The upcoming SEN/KA TOKYO by The Crest Collection is part of the landmark Yaesu 1-Chome North District Type 1 Urban Redevelopment Project, located near Tokyo Station in the Yaesu district. The property's name pays tribute to its location, historically known as Gofuku-cho (Kimono Fabric Town) during the Edo period, once home to prestigious kimono fabric shops patronised by the shogunate and the Imperial Household. The district's rich heritage of delicate artistry and craftsmanship will be brought to life through the design and storytelling of this luxury hotel-in-residence, which features 92 guestrooms designed for both short and extended stays. • Hong Yuan Hotel by The Crest Collection, which opened late last year in Haikou, China, draws inspiration from the city's historic role as a key gateway on the ancient Maritime Silk Road. Located in the Jiangdong New District of the Hainan Free Trade Port, the 261-key hotel blends Song Dynasty aesthetics with modern luxury. Guests are immersed in a richly storied environment – from copper screen partitions in the lobby and architecture echoing Song-era design, to Chinese paintings depicting maritime trade scenes in the restaurant, all reflecting Haikou's historic role as a hub of global cultural and commercial exchange. The upcoming property in Wuhan's Optics Valley will further grow The Crest Collection's presence in China, offering a narrative rooted in the city's academic and innovation heritage at the heart of a national high-tech development zone. • Al Mahra Resort by The Crest Collection located on Marjan Island, Ras Al Khaimah, takes its name from the Arabic word 'mahra', referring to a young female horse – a symbol of youthful grace, strength and noble spirit in Bedouin heritage. Reflecting these qualities, the 539-key beachfront resort will blend Arabian heritage with contemporary design, offering guests an experience rooted in the UAE's rich equestrian and cultural legacy. • The Crest Collection will also make its debut in Saudi Arabia when it opens in Riyadh, offering bespoke hospitality in the Kingdom's capital with a stay experience inspired by local culture. Strategically located on King Fahd Road and surrounded by key commercial and lifestyle hubs, the property will house a selection of accommodation options spanning elegant hotel rooms, serviced apartments, and suites, catering to both leisure and business travellers. Guests can expect access to an array of premium amenities, including specialty dining restaurants, a signature 'Reading Room' lounge and café, and comprehensive wellness facilities featuring a pool, gym, and treatment rooms. The property will also offer state-of-the-art meeting and multi-functional spaces. The Crest Chronicles: Showcasing Heritage and Hospitality at The Crest Collection Through a carefully curated series of activations spanning gastronomy, literature, architecture, art and performance, The Crest Chronicles brand programme brings heritage stories to life at each property within The Crest Collection. From culinary events that evoke the flavours of the past to literary legacies that immerse guests in historic narratives, this programme reveals the stories behind every door. In Paris, France, La Clef Champs-Élysées Paris by The Crest Collection, the flagship property that launched the brand, has hosted Cognac Heritage Tastings featuring three exceptional eaux-de-vie – Hennessy, A.E. Dor and Koya – offering guests a unique journey through fine cognacs and brandies inspired by the heritage of the former Hennessy family mansion, now home to the hotel. Meanwhile, history enthusiasts can explore the 1889 Exposition Universelle through a Literary Display opening mid-June in the lobby of La Clef Tour Eiffel Paris by The Crest Collection. At Hong Yuan Hotel by The Crest Collection in Haikou, China, guests can immerse themselves in the cultural richness of the Song Dynasty, the hotel's key design inspiration. Titled 'The Four Refinements of the Song Dynasty', year-round activities include tea tastings, floral arrangement workshops, incense crafting, art appreciation and guqin performances. Complementing these experiences, a thoughtfully curated culinary menu inspired by the 24 solar terms of Chinese culture promotes health, relaxation and seasonal nourishment. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
an hour ago
- Zawya
Jeddah Airports Company deploys advanced tech for airport operations
Jeddah Airports Company is leveraging modern technology to improve operational monitoring at King Abdulaziz International Airport in Jeddah. This effort involves an integrated system of control units to enhance traveler services, ensure flight security, and provide a comfortable experience, reported SPA. The Terminal 1 Operations Control Center is essential for operational efficiency, facilitating integration among departments and enabling real-time monitoring and rapid response, it stated. Equipped with 44 workstations and staffed by 130 personnel working continuously, the center oversees services such as check-in, security checkpoints, and baggage handling in co-ordination with Saudi Ground Services Company. Supported by advanced systems, it ensures flight security and a seamless travel experience, it added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
an hour ago
- Zawya
Ebara Elliott Energy starts work on new Abu Dhabi facility
UAE - Ebara Elliott Energy (EEE) has started construction on a new, state-of-the-art service center in Abu Dhabi, located in Kezad with operations to launch in Q3 2026. The facility is a key part of EEE's strategy to expand its regional presence and deliver faster, more localized support to customers across the Middle East. A solution provider in the energy industry, EEE designs, manufactures, and services technically advanced centrifugal and axial compressors, steam turbines, power recovery expanders, custom pumps, and cryogenic products used in the petrochemical and refining sector. With a global network of service centers, EEE is known for providing rapid response, clear communication, and precise execution across every service engagement. This investment reinforces the company's position as a trusted partner to energy operators in the region. "This facility represents more than just a new location—it's a major step toward bringing world-class service directly to our customers in the Middle East and surrounding region," said Nobu Miyaki, Chief Executive Officer, Ebara Elliott Energy. "By investing here, we're reinforcing our long-term commitment to the region and ensuring we're ready to support our clients when and where they need us most," he stated. The new service center will feature two fully air-conditioned production bays, cranes, and cutting-edge technologies including laser welding, the region's first spin pit for impeller repair, and the largest cylindrical grinding machine in the Middle East. The site covers a 14,391 sqm plot with a 6,658 sqm built-up area, said Miyaki. Once operational, the facility will offer full-service repairs for compressors, steam turbines, expanders, cryogenic pumps, and API pumps - delivering high-quality, efficient support tailored to regional needs, it added.- Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
