Foreign News
@ Halal | July-August . 2022
BRF Sadia inaugurates
new plant in Saudi Arabia
Middle East region plays a strategic role in the company ’ s growth plans in the international market
BRF Sadia , one of the largest food companies in the world , inaugurated its new plant ‘ Al Joody ’ in Dammam , Saudi Arabia . The unit was acquired in January 2021 and received investments of around US $ 18 million , which has increased its monthly production capacity to 1,200 tonnes of food .
Present at the ceremony were Marcos Molina , BRF Sadia Chairman of the Board ; Lorival Luz , BRF Sadia Global CEO ; and Igor Marti , BRF Sadia Vice President for the Halal Market , as well as representatives from the ministries of investment and industry and mineral resources of the Kingdom of Saudi Arabia , the Eastern region municipality and Modon .
“ The expansion of BRF Sadia to manufacture its products locally in the Saudi market is a landmark step . It will play an integral role in the growth and development of the poultry industry locally , in the interest of the Saudi consumer ,” said Engineer Abdulhamid Mohammed Al-Shawan , Regional Director of
Investment Advisory & Relations .
BRF Sadia ’ s history in Saudi Arabia began in the mid-1970s when Sadia was the first company to introduce and democratise frozen chicken products in the Middle East . Currently , BRF Sadia has more than 500 employees in this country .
The halal market plays a strategic role in the company ’ s plans for sustainable growth . Today , BRF Sadia ’ s products produced in the halal region are exported to 14 countries , and there are plans to reach even more markets in the coming years .
“ It is a very positive time for the Middle
The expansion of BRF Sadia to manufacture its products locally in the Saudi market is a landmark step . It will play an integral role in the growth and development of the poultry industry locally , in the interest of the Saudi consumer .” – Abdulhamid
Eastern markets . With the great work from our local team , we are achieving our goals while demonstrating our long-term commitment to the region and the local government ’ s strategy ,” says Lorival Luz .
“ The opening of the new factory comes after careful analysis and study of the Saudi market . It aligns with the Saudi Vision 2030 , which encourages foreign companies to invest in the local market . Today , we look forward to providing the citizens and residents in the Kingdom with products of the highest quality .”
In addition to Saudi Arabia , BRF Sadia is present in all leading countries within the halal region . Currently , the company has over 7,500 employees , including other production units such as Al Wafi factory in the United Arab Emirates and three Banvit plants in Turkey .
Algbra becomes first ethical FinTech to receive E-Money Institution licence
ALGBRA , the ethical and values-focused Fin- Tech , has received full authorisation from the Financial Conduct Authority ( FCA ) to operate as an Electronic Money Institution ( EMI ).
Algbra ’ s pioneering proposition – with the principles of ESG and Shariah-compliance at its core – leads the movement toward values and lifestyle-based banking that defines the next evolution of financial services .
Algbra ’ s offering includes a sustainable card , the ability to make direct charitable donations to UK-registered charities ; carbon tracking to review the impact of purchases ; and the option to offset that carbon footprint with a few taps .
Algbra requires all partners to sign up to its ethical standards , including clarity on where consumers ’ money is held - ensuring customer funds are not held or invested in unethical industries . The EMI licence now enables Algbra to build bespoke products to service diverse communities in the most uncompromising and impactful way possible , further disrupting the sector by developing their B2B technology platform .
Newmark arranges US $ 200m Shariahcompliant medical office portfolio financing
NEWMARK announced it has arranged US $ 200 million of Shariah-compliant financing for a medical office building portfolio . It was on behalf of a joint venture between Dallas , Texas-based Big Sky Medical (“ Big Sky ”) and GFH , a leading institutional investor based in Bahrain with a global portfolio of investments .
Earlier this year , Newmark assisted in arranging the joint venture , which was
This portfolio financing represents an important milestone in the growth and continued success of the Big Sky and GFH joint venture , a s w e continue to aggregate best-in-class medical office and outpatient healthcare assets .” – Signor seeded by a US $ 400 + million medical office portfolio aggregated by Big Sky over the past 12 months . The portfolio financing was led by a US-based financial institution .
National healthcare real estate platform Big Sky was founded in 2020 by industry veteran Jason L . Signor , who spent the last 18 years acquiring and developing medical office buildings and senior housing facilities in 19 States across the country .
“ This portfolio financing represents an important milestone in the growth and continued success of the Big Sky and GFH joint venture , as we continue to aggregate best-in-class medical office and outpatient healthcare assets ,” said Signor .
The transaction includes a component for future acquisition financing , allowing the venture to continue its acquisition strategy under similar terms .