Qassim Development Corporation appoints Falcom Financial Services as financial advisor

Mujahid AlGain, CEO of Qassim Development Corporation and Chairman of the Founding Committee and Adeeb bin Abdulrahman Al-Sowailim CEO of Falcom Financial Services signed the agreement in a ceremony held in Riyadh. The signing ceremony was also attended by Abdullah Al-Othaim, Founding Member of Qassim Development Corporation and Mr. Fahad Al-Athl Chairman of Falcom Financial Services

According to Qassim Development Corporation CEO, the selection of Falcom was a result of an in-depth study featuring a series of technical and professional criteria on which the selection process was based upon. This included the experience and expertise of the Falcom team in addition to the Company's expertise in investment services in addition to the necessary systems and technologies required to manage the financial program.

AlGain added, 'QDC will be established as a holding company to handle investments through an integrated strategy based on the study developed by 'Monitor' which also included a complete assessment of the investment opportunities in the Qassim area. The results from the study recommended six key economic clusters which include agricultural development, pharmaceuticals, tourism development, urban development, knowledge development, and healthcare.'

AlGain continued,

'QDC will work towards developing these integrated economic clusters after determining and assessing the investment opportunities and then executing the viable projects. QDC will also look at participating in existing and new development projects with a purpose to distinguish Qassim as a region with diverse investment potential as well as promote the Region as an attractive and viable investment destination.'

QDC is an avid believer of corporate social responsibility and community service in order to achieve sustainable development and operate and private public partnership.

Last month, HRH Prince Faisal bin Bandar bin Abdulaziz, Governor of Qassim and his deputy HRH Prince Dr. Faisal bin Misha'al bin Saud bin Abdulaziz, Chairman of the Committee for the Development of Investment in the Qassim Region reviewed in detail the business plan of Qassim Development Company which is currently being established as part of a comprehensive and integrated strategy to develop investments in the Qassim Region. This strategy has been blessed by HRH the Governor in order to realize the strategic investment vision for the region.

AlGain commented, 'The idea of establishing QDC was a result of a study prepared by Monitor to serve as a tool to activate the investment initiatives in the region. A regional initiative, Abdullah bin Saleh Al Othaim was instrumental in adopting and developing this concept to establish the Company sparing no effort to provide all the means to launch the Company based on professional standards.'

Qassim Development Company is supported by leading consultation firms specializing in various disciplines which include legal, media, financial, technical, and administrative consultants in addition to experts in brand building and corporate identity. The Company is in the process of selecting its Technical Advisor.