15 Muharram 1446 - 21 July 2024
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Eye of Dubai
Business & Money | Wednesday 7 June, 2023 9:53 am |

A novel multinational partnership is fostering the advancement of LWK + PARTNERS and stimulating Chinese investment in the GCC

Abu Dhabi and Riyadh-based Opulence Capital Management (OCM) and Hong Kong-based LWK + PARTNERS (subsidiary of Hong Kong Stock Exchange listed C Cheng Holdings) have linked an expansive partnership that will support and strengthen the bilateral relations of the Peoples Republic of China and the Kingdom of Saudi Arabia.  The partnership intends to promote the unique and widely recognized Design Services of LWK + PARTNERS on the one hand and accelerate Chinese investment and the development of large-scale projects in the Middle East on the other hand in support of His Royal Highness, the Crown Prince of the Kingdom of Saudi Arabia, Mohammad Bin Salman Al Saud’s landmark Vision 2030 initiative.  

The partnership aims to create a portfolio of architecture and design, technology project structures, and innovative concepts as the 'Enhanced Design Offerings' (EDO). Developed by LWK + PARTNERS, this integrated, future-forward project design approach supports giga-projects and intelligent cities. By partnering with LWK + PARTNERS, OCM will apply its unique business development and marketing strategies to expedite winning of mega-projects bids and delivering innovative and fundamental concepts, which are core to Vision 2030.


“Our expansive partnership with LWK + PARTNERS includes structuring and managing multinational joint ventures to leverage the strong relationships and assets that will close the gap between the Kingdom’s foreign policy and the Kingdom of Saudi Arabia’s aggressive development schedule.  Our ability to package and utilize the unique capabilities of LWK + PARTNERS and its group affiliates to expedite and enhance the project lifecycle is a core component of our mandate,” said Alexander Vanderhey, Group Chairman of OCM. “Drawing a parallel to the success of China’s ultra-rapid and sustainable development over the past two decades – I believe these structures are core components of actualizing Vision 2030.”

Vanderhey continued “Every project obtained with LWK + PARTNERS will showcase the principles of project execution required for ultra-rapid development. These principles include turnkey design and cost savings through design and passive sustainability - both foundational innovations that define the smart cities that will power Vision 2030’s Saudi Arabia.  Our partnership with LWK + PARTNERS will enable China’s investment and long-term standing in the Middle East, and will no doubt accelerate the overall pace of progress.” 

“Since our entry into the MENA market in 2018, our operations in the Kingdom of Saudi Arabia have become a core focus of expansion for the firm and for our stakeholders,” said Kerem Cengiz, Managing Director of LWK + PARTNERS MENA region.  “Now, having established the appropriate organisation and representation in the region, we can better create innovative joint ventures with our peers on the Mainland. These will embody ever more creative ways of working together toward the turnkey development and operation of some of the world's most imaginative and ambitious projects.”

OCM’s insight into the national and regional expansion plans of different sovereigns in the GCC provides numerous opportunities to put LWK + PARTNERS’ platform to use. The objective is to go beyond basic design functions. It is to stimulate new ideas and aggressively turn those ideas into reality. This unique strategy and good faith effort underscores a renewed spirit of partnership between clients, their projects and the interaction with strategic coalitions that reflect the long-term goals of LWK – and its affiliates – in the region.


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