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Hutham S. Olayan received the 2013 Annual Achievement Award from the Arab Bankers Association of North America (ABANA) on October 8 at a sold-out celebration in the Grand Ballroom of the Plaza Hotel in New York City.

Ms. Olayan, a principal, director, and senior executive of The Olayan Group, is a founding member of ABANA. She received this year’s honor on the occasion of that organization’s 30th anniversary.

Ms. Olayan was introduced by James Gorman, chairman and CEO of Morgan Stanley, on whose board of directors Ms. Olayan has served since late 2006.

The Olayan Group participated in a very large Saudi Career Fair held on May 24-27 at the Gaylord National Resort & Convention Center on the Potomac River south of Washington, DC. Approximately 7,000 fresh Saudi graduates attended the event, which included a graduation ceremony, on-site job interviews, workshops, and panel discussions.

The annual event is sponsored by the Saudi Arabian Cultural Mission to the US (SACM).

The Olayan Group has partnered with the largest snack company in the world, Mondelēz International, and Khalifa Algosaibi Group to expand the distribution of popular food brands in the Kingdom of Saudi Arabia.

 

The new joint venture, Mondelēz Arabia for Trading LLC, will be based in Dhahran with plans to establish 11 branches located in major cities across the Kingdom. The new company will provide more than 300 jobs that will comply with the Kingdom's Saudization program. 

 

The Olayan Group is sponsoring two projects that are showcasing rare artwork and artifacts from Saudi Arabia and the wider Middle East for American audiences. The separate projects are being carried out by two premier cultural institutions in Washington and New York -- the Smithsonian Institution and the Metropolitan Museum of Art.
 

Olayan Financing Company (OFC) has purchased four plots of land totaling 600,000 square meters in the Industrial Valley of King Abdullah Economic City (KAEC).

The Olayan Group’s first issue of sukuk, or Islamic bonds, has successfully concluded, raising $173.3 million (SR 650 million) for Olayan Real Estate Company, the Group’s property development subsidiary in Saudi Arabia. 

The maiden issue was over-subscribed, raising 30% more than its initial target of $133.3 million (SR 500 million).

The five-year sukuk was priced at 150 basis points over the Saudi interbank offered rate (SAIBOR).  The privately placed transaction was sold to banks, insurance companies, and private funds.

His Majesty the King of Sweden Carl XVI Gustav awarded Ms. Lubna Olayan with the insignia of Member First Class of the Royal Order of the Polar Star, for contributions to the furthering of good relations between Sweden and the Kingdom of Saudi Arabia.

Ms. Olayan was presented with the award on May 8 at the residence of Swedish Amabassador Dag Juhlin-Dannfelt. The award highlights The Olayan Group's  longstanding relations with Swedish companies such as Atlas Copco and Scania, and prior business ties with Nitro Nobel and Electrolux.

Hutham Olayan and Lubna Olayan played key roles in the Second Annual US-Saudi Business Opportunities Forum held Dec. 5-7 in Atlanta, Georgia. More than 1,100 people from government and business attended, including a number of ministers from Saudi Arabia.

Lubna Olayan, CEO and deputy chairperson of Olayan Financing Company, keynoted the conference with an opening address on the long, sometimes bumpy, but enduring relationship between the United States and Saudi Arabia. She was introduced by Sam Williams, president of the Metro Atlanta Chamber of Commerce.

The Olayan Group has acquired from the Schindler Group a minority stake of 10% in Saudi Elevator Company Ltd.  The company will be renamed “Schindler Olayan Elevator Company Ltd.”  Both partners will be represented equally on the board of directors of the company.

Schindler became the sole owner of Saudi Elevator in 2010, when it acquired 80% of the shares on top of the 20% stake it already owned.

Lubna Olayan, a director of The Olayan Group and head of its Middle East operations, was presented with an honorary degree of Doctor in Laws (LL.D) at Trinity College (The University of Dublin, Ireland) on July 1.

Former president of Ireland and chancellor of the university, Dr. Mary Robinson, bestowed an honorary doctorate on Ms. Olayan and two other awardees – Irish educator Michael Johnston and six-time British Open squash champion, Jonnah Barrington.

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