Largest Listed Saudi Real Estate Developer Launches International Business from Dubai

DUBAI, UAE and FLORENCE, Italy, December 12, 2017/PRNewswire/ —

Construction on Dar Al Arkan’s AED 800 Million Skyscraper on Dubai Canal to Start in Early 2018, with Signature Interiors by Roberto Cavalli

Dar Al Arkan, the largest listed real estate developer in the Kingdom of Saudi Arabia, announced today its plans to expand to global markets, selecting Dubai as the launchpad for its international business, with an AED 800 million development on the Dubai Water Canal in the Business Bay area.

(Logo: http://mma.prnewswire.com/media/618273/Dar_Al_Arkan_Logo.jpg )
(Photo: http://mma.prnewswire.com/media/618113/Dar_Al_Arkan.jpg )
(Photo: http://mma.prnewswire.com/media/618114/Roberto_Cavalli.jpg )

The company has partnered with luxury brand, Roberto Cavalli, to design the interiors of the lavish 34-storey waterfront skyscraper, located in one of the world’s greatest urban transformations, in true Italian fashion. Rightly named “I Love Florence”, the new luxury tower will offer its residents an immersive living experience that combines the sophistication of fascinating Florence with the famed luxury of dazzling Dubai.

A ceremony was organised in Dubai to launch Dar Al Arkan’s (DAAR’s) international expansion and its high profile partnership with Italy’s topmost luxury fashion brand. The event was attended by Yousef Bin Abdullah Al Shelash, Chairman of Dar Al Arkan, Gian Giacomo Ferraris, CEO of Roberto Cavalli Group, who flew in especially for the occasion, in addition to a number of government officials, diplomats, dignitaries and investors.

Yousef Bin Abdullah Al Shelash declared at the ceremony: “Dar Al Arkan, since its establishment in 1994, has been offering Saudi investors unique investment opportunities that enhance and protect their wealth and preserve it for the next generation. Our solid track record in delivering 15,000 residential units and 500,000 metres of commercial space in Saudi Arabia for over 23 years will support our global expansion, which aims at presenting further diversification to our existing investors, as well as attracting international investors to our investment portfolio.”

Towering over the 3.2 kilometres man-made waterway, the high-rise will combine stunning views of the canal’s vibrant outdoor and night scenes, with the elegance of the Florence’s Arno riverside, reflected in the interiors sketched by one of Italy’s most famed design houses. This is the first time ever that the iconic “Roberto Cavalli” fashion brand lends its name to a real estate development, anywhere in the world, to present rich interiors that project bespoke living and are an embodiment of all the strength and glamour of the maison “Roberto Cavalli” lifestyle, delivering energy, prestige, emotion, success, and desire to experience.

Gian Giacomo Ferraris commented: “We are excited to be entering for the first time as a group to the real estate sector with the Roberto Cavalli brand, and we believe that the developer couldn’t have chosen a more suitable location for this project in the Middle East, where Roberto Cavalli enjoys a strong following. Dubai has carved its position as the house of fashion and design in the region. I see a strong correlation between Florence and Dubai, with both cities projecting elegance, art and design in everything they do, each in its own way. The new tower will embody Roberto Cavalli’s passion for beauty, design and his celebration of Italian craftsmanship. It will encapsulate the high-end luxury our fashion house has been famed for.”

The “I Love Florence” Tower, which will have unique views of the Dubai Canal, will feature for the first time in Dubai New York style homes, with elevators opening directly into the apartments, providing utmost privacy. Units will be available in one, two, three and four bedroom penthouses.

Abdullah El Shelash concluded: “When we set out to draw our vision to become leaders in global real estate development, we decided to only settle for the best, hence our choice of Dubai Canal as a location, and the epitome of Italian luxury, Roberto Cavalli, to conceptualise and create truly outstanding living spaces, not only in the residential units, but across the tower’s amenities, including the lobbies, gym, swimming pool, yoga area, outdoor training area, and hallways.”

The tower architecture has been designed by VX Experts. DAAR has also appointed La Casa Engineering Consultants. Construction will start in January 2018.

About Dar Al Arkan (DAAR)

Based in Riyadh (KSA), DAAR is a public shareholding company listed on the Saudi Stock Exchange (Tadawul). With 10.8 billion SR in capital and 25 billion SR in assets, spanning 36.4 million square meters, we are one of the Middle East’s leading real estate companies. While DAAR runs diverse operations, real estate is the heart of what we do. We take pride in redefining the possibilities of commercial, living and mixed-use spaces. Everything we develop is built and maintained according to the highest international standards – designed for a modern lifestyle and delivered on time. Our urban communities, shopping centers and iconic property assets form a legacy of success across Saudi Arabia, driving growth in the country’s real estate sector and the larger economy.

daralarkan.com

About Roberto Cavalli

The Roberto Cavalli Group, based in Florence and controlled by Italian investment fund Clessidra SGR, is one of the most important Italian companies operating in the fashion, luxury accessory and lifestyle sectors. The wide portfolio of internationally established labels – Roberto Cavalli, Just Cavalli, Cavalli Class, Roberto Cavalli Home, Roberto Cavalli Junior, eyewear, fragrances and watches – is positioned in the different segments of the high-end offering.

Defined by a dynamic and contemporary aesthetic, Roberto Cavalli is rooted in the Italian and Mediterranean spirit, the artisanal craftsmanship and in the brand’s Florentine heritage. Its womens and mens collections focus on a modern and versatile glamour, celebrating a luxurious, joyful lifestyle.

The Group currently manages a network of 49 direct operated stores and 25 franchisee stores in cities such as Milan, Rome, London, Paris, New York, Miami, Dallas, Los Angeles, Moscow, Sao Paolo, Dubai, Kuwait City, Beijing and Hong Kong, among others.

robertocavalli.com

Source: Dar Al Arkan

Gemalto in the process of reviewing the unsolicited and conditional proposal by Atos

Amsterdam, December 12, 2017 at 07:00 AM – The board of Gemalto N.V. (the Company) has noted the announcement last evening of the unsolicited and conditional proposal by Atos SE (Atos) to make a cash offer for all issued and outstanding shares of the Company at an offer price of EUR 46 (cum dividend in cash) (the Proposal).

On November 28, 2017 Atos submitted its Proposal, valid until December 15, 2017 to the board of the Company. The Company subsequently informed Atos that it would carefully review the Proposal and respond to it before such date.

The board of the Company will continue its process of reviewing and considering the Proposal together with its financial and legal advisors in accordance with its fiduciary duties to determine the best course of action in the interest of the Company, its business, employees, shareholders and other stakeholders.

There is no certainty that the Proposal will lead to a recommended firm offer for the Company.

The Company has retained Deutsche Bank and J.P. Morgan as financial advisors and Allen & Overy LLP as legal advisor.

Further announcements will be made in due course once the board has completed its review of the Proposal.

Investor Relations Corporate Communication Media Relations Agency

Jean-Claude Deturche

Isabelle Marand

Suzanne Bakker

M.: +33 6 2399 2141 M.: +33 6 1489 1817 M. : +31 6 1136 8659
jean-claude.deturche@gemalto.com isabelle.marand@gemalto.com suzanne.bakker@citigateff.nl

Sébastien Liagre

M.: +33 6 1751 4467
sebastien.liagre@gemalto.com

This press release may contain forward-looking statements that involve risks and uncertainties. In most cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of such terms or similar terminology. Such forward-looking statements are not guarantees of future performance and involve significant assumptions, risks and uncertainties, and actual results may differ materially from those in the forward-looking statements.

This is a public announcement by Gemalto N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014). This public announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in Gemalto N.V.

About Gemalto

Gemalto (Euronext NL0000400653 GTO) is the global leader in digital security, with 2016 annual revenues of €3.1 billion and customers in over 180 countries. We bring trust to an increasingly connected world.

From secure software to biometrics and encryption, our technologies and services enable businesses and governments to authenticate identities and protect data so they stay safe and enable services in personal devices, connected objects, the cloud and in between.

Gemalto’s solutions are at the heart of modern life, from payment to enterprise security and the internet of things. We authenticate people, transactions and objects, encrypt data and create value for software – enabling our clients to deliver secure digital services for billions of individuals and things.

Our 15,000+ employees operate out of 112 offices, 43 personalization and data centers, and 30 research and software development centers located in 48 countries.

For more information visit

www.gemalto.com, or follow @gemalto on Twitter.

Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/19a8e08f-a01f-4ff4-a1e2-3cb94959b051

CM Punjab reviews Quaid’s Day preparations

Punjab Chief Minister Muhammad Shahbaz Sharif has said that PML-N government is taking concrete steps for making Pakistan a prosperous, peaceful and bright country according to the vision of founder of Pakistan, Quaid-e-Azam Muhammad Ali Jinnah.

He expressed these views while presiding over a meeting in Lahore on Tuesday to review the arrangements for the Quaid Day on 25th of this month.

The Chief Minister said that celebrating the Quaid Day in a befitting manner is necessary to convey Quaid-e-Azam's vision to the new generation.

Source: Radio Pakistan

Militant Attack Near Afghan Border Kills 2 Pakistani Soldiers

ISLAMABAD Militants ambushed a Pakistan army convoy Tuesday in the remote North Waziristan region, killing at least two soldiers.

A brief military statement said an officer of the rank of second lieutenant was among the dead. The fatalities occurred, it explained, when terrorists fired on [an] army vehicle from surrounding mountains in this volatile region bordering Afghanistan.

The outlawed Pakistani Taliban took credit for the deadly ambush, claiming it also left six soldiers injured.

This was the second attack in the Waziristan region this month, targeting security forces. A powerful bomb planted in a parked motorbike went off last week in the town of Mir Ali, killing six people and wounding eight others. At least three would-be army recruits were among the dead.

North Waziristan has long been notorious for serving as a haven for Pakistani Taliban and foreign militants blamed for launching terrorist attacks on both sides of the porous Afghanistan-Pakistan border.

The Pakistani Taliban is responsible for the majority of terrorist attacks in the country over the past decade, killing tens of thousands of people.

Army officials, however, say a ground and air counterterrorism offensive launched in mid 2014 has cleared most of the Waziristan territory of militants, bringing down terrorist attacks elsewhere in Pakistan from several thousand five years ago to around 600 in 2016.

Authorities also credit stepped up security measures, including fencing of border areas prone to militant infiltration.

The first major attack in North Waziristan took place in early October when militants ambushed a military vehicle in the Razmak area, killing three soldiers and wounding seven others.

Pakistani officials allege senior militant commanders have setup bases in ungoverned border areas of Afghanistan after fleeing the army onslaught on their hideouts in and around North Waziristan and orchestrate the latest round of violence from those sanctuaries.

Source: Voice of America

South Korea’s Jeju Island to build more Muslim-friendly infrastructure to woo tourists

Jeju City, South Korea (OIC-UNA) � Acknowledging the special needs of the Muslims, South Korea’s Jeju Island, which anticipates more than 100,000 Malaysian tourists annually with the commencement on Tuesday of AirAsia X direct flights from Kuala Lumpur, is preparing to become more Muslim-friendly.

Increasingly more Muslims are traveling all over the world with the choice of destinations for many Muslims, apart from the major tourist attractions, hinging on two essential factors halal food and facilities like musalla (open space outside a mosque) to fulfill their prayer obligation.

From this acknowledgment, the four-season island, south of the Korea Peninsula, which was formed some two million years ago from volcanic activity, will soon have more musalla or prayer rooms in public places and several halal-certified restaurants, according to Bernama News Agency.

“We expect to receive more Muslim tourists, hopefully, more than 100,000 annually, especially with the start of AirAsia X direct flights from Kuala Lumpur on Tuesday.

“In our drive to welcome them, we want to make sure that they are comfortable and are able to enjoy Jeju better with prayer places and eat food prepared accordingly with the requirement of their faith,” said Executive Director of the Tourism Policy Division of Jeju Special Self-Governing Province Hyun Hak-soo.

Source: International Islamic News Agency

Chinese Ambassador calls on CM Punjab Shahbaz Sharif

Chinese Ambassador Mr. Yao Jing called on Punjab Chief Minister Shahbaz Sharif in Islamabad today (Tuesday).

Matters relating to the mutual interest, Pak-China economic relations, and projects being implemented under CPEC came under discussion.

The Chinese envoy assured all sort of cooperation for completion of the Orange Line Metro Train (OLMT) project.

The Chief Minister said Orange Line Metro Train will provide modern, swift, safe and comfortable travelling and communication facilities to millions of commuters.

Source: Radio Pakistan

CM Punjab reviews Quaid’s Day preparations

Punjab Chief Minister Muhammad Shahbaz Sharif has said that PML-N government is taking concrete steps for making Pakistan a prosperous, peaceful and bright country according to the vision of founder of Pakistan, Quaid-e-Azam Muhammad Ali Jinnah.

He expressed these views while presiding over a meeting in Lahore on Tuesday to review the arrangements for the Quaid Day on 25th of this month.

The Chief Minister said that celebrating the Quaid Day in a befitting manner is necessary to convey Quaid-e-Azam’s vision to the new generation.

Source: Radio Pakistan