Latest news with #MohamedAbbas
Tourism Breaking News
11-07-2025
- Business
- Tourism Breaking News
IDeaS accelerates expansion in Saudi Arabia with Elaf Group Partnership
Post Views: 49 IDeaS announced a new partnership with Elaf Group for the implementation of IDeaS' G3 Revenue Management System across an initial four hotels in the Elaf Group portfolio. With this agreement, IDeaS continues to expand its footprint in Saudi Arabia whose ambitious Vision 2030 goals include 362,000 new hotels rooms by 2030 under the Kingdom's US$110 billion hospitality expansion initiative. Currently, IDeaS' solutions have been implemented in 144 hotels across the Kingdom, with strong and growing demand projected for the future. Elaf Group is preparing to double the size of its hotel portfolio in the coming years. By partnering with IDeaS, they will be able to scale their operations effectively and optimize their revenue strategies. The partnership will enable Elaf Group to leverage advanced data-driven insights, enhance their decision-making processes, and ultimately achieve their growth objectives more efficiently. The Group Pricing capabilities of G3 RMS, with its ability to quickly determine a group's entire value and the value of any potential business being displaced, are a key component of Elaf Group's decision to partner with IDeas. As hotels in Madinah rely heavily on both pilgrimage-driven groups and leisure business, the ability to accept the most profitable business is crucial. Balancing their demand needs helps hotels optimize occupancy and revenue, ensuring sustainable growth and guest satisfaction. Mohamed Abbas, Commercial & Revenue Director at Elaf Group said: 'We have chosen IDeaS because of their system's accurate forecasting capabilities, strong pricing tools and inventory controls that can all be managed by a small, centralized team. IDeaS is a reliable partner who will help us drive the revenue growth needed for us to continue our planned expansion in Saudi Arabia.' Ibrahim Saba, Principal Sales Director – Europe, Middle East & Africa at IDeaS commented: 'The G3 Revenue Management System will empower Elaf Group to navigate complex, seasonally dynamic markets like Jeddah and Madinah, while optimizing revenue capture from the growing demand in Riyadh.'
Zawya
06-05-2025
- Business
- Zawya
CI Capital Successfully concludes the largest corporate bond issuance in the Egyptian Market History for Tasaheel Finance worth EGP2.5bln
Cairo, CI Capital ( the leading diversified financial services group, announced today the successful conclusion of the EGP 2.5bn corporate bond issuance for Tasaheel Finance. Tasaheel's issuance, which received an investment grade BBB+ rating from Middle East Ratings and Investor Services (MERIS), is in two tranches: the first tranche is valued at EGP 2bn with a tenor of 12 months, while the second tranche is valued at EGP 500mn with a tenor of 36 months. 'CI Capital is proud of the successful conclusion of 5 DCM issuances for Tasaheel Finance since 2023 with a total value of EGP 20.29bn, reflecting the strong partnership between both parties. This historical issuance is another example of CI Capital's commitment to offering unparalleled innovative financial and investment solutions to its clients, as well as reflecting its commitment to developing the Egyptian capital market space," commented Amr Helal, Chief Executive Officer (Sell-Side) of the Investment Bank at CI Capital. 'Tasaheel's issuance, the largest corporate bond issuance in the Egyptian market history, is a turning point in the local Debt Capital Markets landscape, as it demonstrates that corporate bonds can act as a reliable financing alternative to traditional financing sources, attracting investments from sources other than the banking sector in the process. This is proven by the fact that 60% of the issuance was covered by non-banking investors, which also highlights CI Capital's strong fundraising abilities,' commented Mohamed Abbas, Head of Debt Capital Markets at CI Capital. CI Capital acted as the issuance manager and bookrunner, while KPMG served as the auditor of the issuance, Maatouk Bassiouny & Hennawy served as the legal advisor and the Egyptian Gulf Bank served as the subscription recipient. About CI Capital Holding for Financial Investments CI Capital Holding for Financial Investments (Ticker: CICH EY, is a diversified financial services group and Egypt's leading provider of leasing, microfinance, mortgage finance, consumer finance, and investment banking products and services. Through its headquarters in Cairo, and presence in New York and Dubai, CI Capital Holding for Financial Investments offers a wide range of financial solutions, to a diversified client base that includes global and regional institutions and family offices, large corporates, SMEs, and high-net-worth and individual investors. CI Capital Holding for Financial Investments leverages its full-fledged investment banking platform to provide market-leading capital raising and M&A advisory, asset management, securities brokerage, custody, and research. Through its subsidiary, Corplease, CI Capital offers comprehensive leasing solutions, including finance and operating leases, and sale and leaseback, serving a wide range of corporate clients and SMEs. Additionally, CI Capital Holding for Financial Investments offers microfinance lending through Egypt's first licensed MFI, Reefy. The Group has over 4,000 employees, led by a team of professionals who are among the most experienced in the industry, with complementary backgrounds and skill sets, and a deep understanding of local market dynamics. Banque Misr, one of Egypt and Africa's most renowned financial banks, is the majority shareholder of CI Capital Holding.
