Annual Report 2016 Chairman Speech

We Expand, Invest and Avoid Risk

Through the vision of maintaining economic, social development and interaction with society, Al-Ahsa Development Company continues to adhere to its economic and social development mission to work towards achieving integrated economic development for the benefit of the entire society and in the interest of the comprehensive development in the Kingdom, 2030, launched by His Royal Highness Prince Mohammed Bin Salman, Minister of Defense and Crown Prince.

As Al-Ahsa Development Company strives to build an advanced and integrated society and to unleash the potential of the country’s citizens. In the end, it aims to raise the standard of living of the individual while continuing economic growth and expansion of projects vertically and horizontally as well as achieving the desired profit for shareholders capital of the company.

Based on this vision, and in line with Saudi Arabia’s Vision 2030, Al-Ahsa Development Company is seeking to complete its plan to increase the number of jobs for citizens and maintain the Platinum Range of the company and its subsidiaries according to the classification of Nitaqat program issued by the Ministry of Labor.

In this regard, Al-Ahsa Development Company is continuing its plan to boost the role of women in industrial work through the establishment of a women’s section in one of Al-Ahsa Development subsidiaries, while enhancing the capabilities of the human resources of the company.

Through the vision, Al-Ahsa Development Company strives to maximize its assets, whether it is real estate investments or investments in subsidiaries, while maximizing the profitability of its shareholders by diversifying its investments in an integrative manner.

Given the current global economic conditions and the impact of these conditions on the internal economic situation, Al-Ahsa Development Company is working to avoid potential economic risks by rapidly developing its economic activities and looking for any new investment opportunities that will add value to shareholders’. At the same time, the company is working to maximize the utilization of its assets to the maximum extent possible, while continuing to develop the human resources of the company through continuous training plans for all employees.

Eng. Hatem Fahd Balghoneim