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Saudi British Bank to open KAEC branch

Riyadh, February 20, 2013

The Saudi British Bank (Sabb) has signed an agreement with King Abdullah Economic City (KAEC), to become the first bank to open a branch in the city.

The event was attended by Fahd Al-Rasheed, managing director and CEO of King Abdullah Economic City; David Dew, Sabb managing director; and Faisal Faruqi, KAEC chief financial officer as well as a number of senior executives from Sabb and KAEC.  

Speaking after the signing ceremony held in Bay La Sun Village on the coast of the city, Al-Rasheed, said: “We warmly welcome Saudi British Bank to KAEC where it will become a vital part of the city’s everyday life, serving residents with the full range of retail banking services and providing business customers with world class corporate services as they start up their enterprises in the economic city.”

“We are delighted to be the first bank to open in KAEC, and to be able to serve KAEC residents as well as providing services for corporate customers,” Dew said. “We look forward to becoming members of a thriving and prosperous community in KAEC and playing a leading role in the city’s economic growth and development.”

Occupying almost a fifth of the prime building in the Business Park, Sabb’s 925 sqm branch is due for handover in May and is scheduled to open in September, a statement from the bank said.  

KAEC Business Park has five office buildings, a daycare center and other amenities. It is located in the heart of the Bay Le Sun district, KAEC’s first urban hub, in close proximity to a premium 4-star business hotel, restaurants, mosques, health centers and security services, residential accommodation, retail premises, with canal and sea views.

The offices at the Bay La Sun Business Park are fully equipped with the latest wireless, audio and visual enabled technologies to connect with other businesses, customers and markets all over the world; quickly and seamlessly, the statement said. – TradeArabia News Service




Tags: Saudi Arabia | King Abdullah Economic City | Riyadh | Saudi British Bank |

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