ICD Press release -10 October, 2016

Press Release

ICD acquires Capitas Group International and changes name to Catalyst Group

Jeddah. — As part of its strategy to facilitate private sector investment, the Islamic Corporation for the Development of the Private Sector (“ICD”), has acquired Capitas Group International and has changed its name to Catalyst Group.

The existing Catalyst Group management team is extending market interventions in real estate development and Islamic non-bank financial institution advisory services.

In conjunction with the launch of the new brand, the tag line ‘Energizing Enterprise’ has been chosen to better reflect the current and future direction of the company.

Khalid Al Aboodi, CEO of ICD stated “the acquisition of Catalyst Group is strategically important as it will act as a facilitator for business in the markets we serve”. “Catalyst Group is pleased to have the support of the ICD and looks forward to assisting our partners with pure play real estate opportunities, real estate finance advisory services, and generally improving access to capital for small-to-medium enterprise through our interventions” added Nazih Al Naser, CEO of Catalyst Group.

Media Inquiries
Mr. Yousef Faris,
Media Relations
Shaker Center, 7th Floor
Prince Sultan Street
Jeddah 21493 Saudi Arabia

email:    yfaris@catalystgroup360.com
fax:        +966 12 618 2123
tel:         +966 12 618 2100 ext 190