Within the program of supporting existing investors in the country, FIPA representatives visited on 13th March 2012 the company Al Shiddi group in Sarajevo and had a meeting with the general manager Mr. Sulaiman Al Shiddi.
Business experience of Al Shiddi group and their perception of the business environment in Bosnia and Herzegovina were discussed during the meeting.
Al Shiddi Group from Saudi Arabia was founded in 1975 and today it has more than 1000 qualified employees all over Europe, Africa and Asia. The group is involved in many different sectors: construction, investment/real estate, agriculture, industry and hotels.
In Bosnia and Herzegovina Al Shiddi has two major projects: Hotel Bristol and Sarajevo City Centre.
After the privatisation and investment of over 40 million BAM, Hotel Bristol was completely renewed as a modern uniquely designed hotel which offers high standard and prestigious services. The Hotel was opened in April 2011 and created a job for 160 employees.
Construction of the “Sarajevo City Centre” - tens of millions worth building covering an area of 100,000 m² started in April 2008 on the site of the former “Magros” company. The largest shopping centre in B&H, an entertainment complex, offices, a five-star hotel and five-level underground car park with parking for over 1,110 cars are just some of the features of this giant project. The Sarajevo City Centre is based on top architectural and building solutions and will be a distinctive landmark of Sarajevo and B&H and maybe even the whole of the region.
According to Mr. Sulaiman Al Shiddi, Al Shiddi Group invested more than 100 million $ in Bosnia and Herzegovina and employed more than 200 people. He pointed out that Bosnia and Herzegovina has great chance for investment but business reforms need to be faster. Investment legislation should be in line with EU, administration oriented toward investors and procedure for visa obtaining much easier.
Al Shiddi group was awarded by FIPA as the foreign investor of the year 2010 in two categories: the most important privatisation and investment with the greatest number of new jobs.