News
See below for news about our businesses, leadership, and philanthropy.
Convergence launched the Asia Climate Solutions (ACS) Design Grant on the sidelines of the 8th Singapore-Australia Annual Leaders’ Meeting, held in Singapore, and under the auspices of the Singapore-Australia Green Economy Agreement.
The Knightsbridge Estate is delighted to announce the opening of Apple’s new flagship store at 17–27 Brompton Road. The iconic brand is the second tenant to open in the 1.5-acre redevelopment at the northern end of The Estate and will benefit from the outstanding amenities and location of the revitalised Estate. With interiors by Foster + Partners, Apple will mark the official opening with a four-day celebration between 28–31 July. The development, designed by Fletcher Priest, transforms an iconic corner of Knightsbridge to deliver a brand-new mixed-use scheme behind retained period facades, preserving the unique character of the area. In […]
The Knightsbridge Estate, a spectacular 3.5-acre island site located between world-famous department stores Harrods and Harvey Nichols, bounded by Brompton Road to the north and Basil Street to the south, is delighted to announce that British premium men’s and women’s sportwear brand Castore has opened at 59 Brompton Road. Founded by the Beahon brothers in 2015, both former professional athletes, to bring a new level of performance to sportswear, Castore creates premium sportswear that is world class in its innovation and performance within the market. In addition to a range of high-profile brand sports partnerships, Castore is partnered with several […]
Entitled ‘Of Myth and Legend’, the commission of all 15 portraits marks the completion of seven magnificent flagship stores behind The Knightsbridge Estate’s restored 19th century façades, which form part of the significant redevelopment of the northern end of The Estate.
Rock Mountain Capital, The Olayan Group and funds managed by global investment firm Carlyle (NASDAQ: CG) today announced that a group led by Rock Mountain and Olayan has acquired a 48% stake in PurposeBuilt Brands, the proceeds of which were used to redeem Carlyle’s position. TA Associates, an investor since 2019, and company management are rolling 100% of their equity and will hold a 52% ownership stake. PurposeBuilt Brands is a portfolio of leading specialty cleaning products for the consumer and commercial markets. In 2021, the company celebrated its 41st consecutive year of year-on-year growth, operating with a strong consumer- and customer-centric […]
The Olayan Group today received the distinguished New York Landmarks Conservancy Chairman’s Award during a virtual celebration for the company’s preservation for the landmarked office tower 550 Madison. Olayan was honored for preserving the architectural legacy of the iconic East Midtown tower as it undergoes a repositioning to reopen as a premier Class A commercial destination. The New York Landmarks Conservancy (NYLC) is a non-profit organization that aims to preserve the unique architectural heritage of New York City. The NYLC Chairman’s Award has been bestowed annually since 1988 on an individual or organization that has demonstrated a commitment to the preservation and […]
Morgan Properties, the nation’s largest private multifamily owner, announced today it has acquired, in partnership with Olayan America, a portfolio of 48 apartment communities and 14,414 units in 11 states for $1.75 billion. The Morgan Properties and Olayan America joint venture purchased the North Star Portfolio (“North Star”) from STAR Real Estate Ventures, a joint venture between El-Ad National Properties, LLC and Yellowstone Portfolio Trust. The North Star acquisition is the largest multifamily transaction this year and Morgan Properties’ largest deal since acquiring the Morgan Communities portfolio of 95 apartment communities and 17,500 units in 8 states for $1.9 billion in 2019. […]
Brookfield Asset Management Inc. announced today the appointment of Hutham Olayan to its board of directors. Ms. Olayan is Chair of The Olayan Group, a multinational investment enterprise as well as a leading operator of businesses in Saudi Arabia, where the group originated in 1947. Ms. Olayan has decades of experience as a long-term investor in various asset classes in global markets. Frank McKenna, Chair of the Board of Directors of Brookfield, stated, “We are thrilled to welcome Ms. Olayan to Brookfield. As an accomplished business leader and skilled director, she brings vast knowledge and significant experience in international business […]
The Olayan Group Reveals Plans for Revitalization of Landmark 550 Madison Postmodern Icon Preserved and Reborn as Multi-Tenant Boutique Office Destination, On Track for 2020 Opening New Renderings Unveil Monumental Lobby Design; Dorothea Rockburne Murals to be Preserved in Place The Olayan Group released the first details today of the interior revitalization of 550 Madison, Philip Johnson and John Burgee’s world-renowned Postmodern icon that is being brought back to life as a luxury office tower. Recognized around the world for its distinctive architecture, including the Chippendale top that is unmistakable on the New York skyline, 550 Madison will open next year as […]