Al Rajhi Investment Group acquires 70% stake of UAE's Romeo Design

Romeo Design LLC was established in 1981 and is recognized as one of the leading Design Companies, both in manufacture of customized loose furniture, soft furnishing and decoration as well as mass-produced built-in kitchen cabinets and wardrobes.

Romeo Design has expanded their activities in the G.C.C. region and is actively involved in the contracts furnishing market. Romeo caters to all major turnkey projects and specializes in the complete design and fitting of interiors including: hotels, banks, offices, private residences, universities, apartments and leisure sectors.

Al Rajhi Investment Group is considered one of the most successful investment groups in the region. It is best known for its business deals and strategic partnerships with a large number of leading corporations in the region, especially in the fields of construction and real estate. This deal further reinforces this reputation.

Commenting on the merger, Mr. Nader Nashed, CEO of Romeo Design LLC, said:

"We are excited to become part of Al Rajhi Investment Group. I believe Al Rajhi Investment Group will provide us with a sound financial and competitive position; enabling us to become the No.1 player in the market. We look forward to the challenges that achieving this position will bring."

During the announcement of the acquisition of Romeo Design, Mr. Faisal S. Al Rajhi, President of Al Rajhi investment Group, said:

"It has always been part of our role to identify the successful key players in the market. I believe we have done just that in partnering with Romeo Design LLC. They have been in the region for more than 25 years now and we are pleased to have them with us. It will bring success to both companies I believe."