Business | Investment
Al Rajhi buys 70% stake in UAE's Romeo Design
Saudi Arabian-based Al Rajhi Investment Group on Thursday reported it had acquired a 70 per cent stake in UAE-based interior design company, Romeo Design LLC.
- Staff Report
- Published: 23:47 October 16, 2008
Dubai: Saudi Arabian-based Al Rajhi Investment Group on Thursday reported it had acquired a 70 per cent stake in UAE-based interior design company, Romeo Design LLC.
Romeo Design has expanded its activities in the Gulf and is involved in design and fitting of interiors for hotels, banks, offices, private residences, universities, apartments and leisure sectors.
Al Rajhi Investment Group is best known for its business deals and strategic partnerships with a large number of leading corporations in the region, especially in construction and real estate. This deal further reinforces this reputation.
"We are excited to become part of Al Rajhi Investment Group. I believe Al Rajhi Investment Group will provide us with a sound financial and competitive position; enabling us to become the top player in the market. We look forward to the challenges that achieving this position will bring," said Nader Nashed, CEO of Romeo Design LLC.
Faisal S. Al Rajhi, president of Al Rajhi Investment Group, said the move would bring success to both companies.
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