NEWS
KBW Investments builds portfolio KBW Investments founder and chairperson HRH Prince Khaled bin Alwaleed bin Talal and Grayscale Interiors founder and managing director, Dr. Gary Vastag
KBW Investments has added to its fast growing stable of companies and services with the majority acquisition of Grayscale Interiors, while the company has also formed a partnership with French technology manufacturer, Ascorel Group. Grayscale Interiors operates out of the UAE and specialises in interior fit-outs for a varied range of projects across sectors including hospitality and commercial building developments. The agreement was signed by KBW Investments founder and chairperson HRH Prince Khaled bin Alwaleed bin Talal and Grayscale Interiors founder and managing director, Dr. Gary Vastag. “After partnering with Grayscale Interiors for several projects that required bespoke interior fit-outs, it was clear that
having the company join the KBW Investments portfolio would increase our Group’s capability to address projects from the early conceptual development and planning stages, all the way to project management and execution stages,” said Ahmed Alkhoshaibi, Group CEO, KBW Investments. “Grayscale’s strong focus on business development, industry integrity and best practice implementation, and finally, high quality end product, is exactly the type of venture that appeals to KBW for strategic growth aims,” added Alkhoshaibi. Grayscale has a project roster that includes the UAE, Qatar, and Saudi Arabia, with plans to expand now that the KBW majority acquisition is completed. Meanwhile, KBW Investments announced a partnership with French
technology manufacturer, Ascorel Group to serve the Middle East and North Africa (MENA) market. Ascorel Middle East will facilitate the sale of Ascorel’s technologies dedicated to the heavy machinery segment in the region. Raimondi Cranes, acquired by KBW in 2014, has used Ascorel’s construction safety solutions for many years. “The integration of Ascorel technologies into the Raimondi Cranes framework has given us ample experience with the company, and has allowed us to confidently unite for this new venture that targets the Middle East,” said Ahmed Alkhoshaibi. Ascorel Middle East will commence operations from August, and will be based out of KBW Investments headquarters in Dubai.
Siemens technology controls Dubai's 3D printed building Siemens provided a variety of control systems for the world’s first 3D printed office building located outside Emirates Towers in Dubai. The German company supplied access control and surveillance systems which are integrated into one of its central building management platforms. Siemens' Desigo CC building management platform enables the control and optimization of the building's tech-
12 construction business news me July 2016
nical infrastructure, surveillance, air conditioning and access control systems from a central location. Worldwide installations of Desigo CC have led to reductions in building operating costs of up to 20 percent, Siemens said in a statement. Unveiled in May, the 250-square-meter "Office of the Future" was built using a 3D printer measuring 20 feet high, 120 feet long and 40 feet wide.