Milestones
General Contracting Company

Suliman S. Olayan founds General Contracting Company, his first business, to provide transportation and related services to Bechtel on Aramco's massive Trans-Arabian Pipe Line (Tapline) project.

National Gas Company
Suliman S. Olayan plays a key role in developing Saudi Arabia's earliest electric power companies and founds the country's first public utility, the National Gas Company.
General Trading Company
In 1954, General Trading Company, a bulk supplier of food and consumer products, is established as the exclusive Saudi distributor of major international brands, including Kimberly-Clark, General Foods, Pillsbury, and Hunt Wesson.

Arab Commercial Enterprises

Arab Commercial Enterprises is founded, later to become the largest insurance brokerage in the Middle East.
Cummins, Kenworth, Atlas Copco
General Contracting Company (GCC) establishes a branch for heavy automotive equipment and parts. GCC becomes the exclusive distributor of Cummins engines, Kenworth trucks and Atlas Copco compressors, relationships that endure today.


Beirut Office Opens
In 1959, a corporate liaison office opens for business in Beirut, Lebanon, to facilitate a major transportation contract with Aminoil/Getty Oil in the Saudi Arabia-Kuwait Neutral Zone. It is the Group's first non-Gulf office.
The Olayan Group Goes Global

The Olayan Group establishes its first company outside of the Middle East - an investment portfolio in U.S. equities.

Kimberly-Clark
Olayan enters into an agreement with Kimberly-Clark to construct the first tissue converting plant in Saudi Arabia.
New York Office Opens
The Group opens an office in New York.

Jubail Industrial City

The Group's joint venture company with Bechtel is given the contract for the engineering and project management of Jubail Industrial City.

London Office Opens
The Group opens an office in London.
Donaldson, Lufkin & Jenrette
The Group acquires a more than 5% equity holding in Donaldson, Lufkin & Jenrette (later increasing to nearly 25% before being sold to Equitable Life in 1985). The move establishes the Group's long-term international approach, involving substantial minority stakes in a highly selective core group of companies.

Athens Office Opens
Olayan Investments Company Establishment (OICE), the primary parent of The Olayan Group established in 1975, opens a branch office on Syngrou Avenue in Athens, Greece. A new office, pictured here, opened in the Athens suburb of Glyfada in 2000.

First Chicago Corporation

The Group acquires a significant stake in First Chicago Corp.

Occidental Petroleum Corp.
The Group acquires a significant stake in Occidental Petroleum Corp.
Xerox
The Group establishes a company to sell Xerox equipment in the Kingdom.

Transamerica Corp.

The Group acquires a 5.3% stake in
Transamerica Corp.

Coca-Cola
An agreement with The Coca-Cola Company establishes the Saudi franchise for Coca-Cola products and services.
CS First Boston
The Group purchases a substantial ownership interest in CS First Boston. By 1998 this will become a 5% stake in Credit Suisse Group.

Colgate-Palmolive

The Group enters into a joint venture with Colgate-Palmolive covering the entire Arabian Gulf region.

Burger King
The Group enters into an exclusive arrangement with Burger King Restaurants for large areas of the Middle East. Olayan Food Services Company soon opens the first Burger King restaurant in Riyadh.
Chase Manhattan
The Group acquires a 5.3% stake in Chase Manhattan Corporation.

Coca-Cola Bottling Company

The Coca-Cola Bottling Company of Saudi Arabia establishes the first of three bottling plants in the Kingdom.

National Grid
The Group acquires a 12% economic interest in Britain's National Grid.
50th Anniversary
The Group marks its 50th Anniversary.

Biography of Suliman S. Olayan

Suliman S. Olayan's biography, 'From Unayzah to Wall Street' is published.
MetLife
During a turbulent time in the US stock market, the Group steps up to anchor the historic MetLife IPO by acquiring 12.4% of the offering.


Chairman's Succession
Following the passing of founding Chairman Suliman S. Olayan on July 4 at age 83,
Khaled S. Olayan is named Group Chairman.
Olayan School of Business
The American University of Beirut names its School of Business for Suliman S. Olayan. A brand new home for the business school, pictured here, opened in 2009.

60th Anniversary

The Group marks its 60th Anniversary.

Related Companies
The Group co-invests with a group of other leading firms in Related Companies, a major US property developer.
Cummins Olayan Energy
Cummins Olayan Energy Ltd. is formed as a joint venture between the Group and Cummins Power Generation Ltd.


Visa
The Group takes a significant stake in Visa Inc., the most important IPO of its time. Electronic payment becomes a key long-term investment theme for the Group.
Baxter JV

Baxter Company Limited is formed as a joint venture between the Group and Baxter Healthcare Corporation.

CH2M Olayan
The Group enters into a joint venture with CH2M HILL for the planning and management of major infrastructure projects.
The Knightsbridge Estate
The Group acquires the Knightsbridge Estate in central London - an unbroken block measuring 3.5 acres that includes office, retail, and residential space.

65th Anniversary

The Group marks its 65th Anniversary.

Paris Portfolio
In its largest real estate acquisition to date, the Group purchases the Paris portfolio from Risanamento. It includes prime office, retail, and residential assets in the city's prestigious central district.

Baccarat Hotel
In partnership with Starwood Capital, the Group sells its interest in the Baccarat Hotel in New York to a Chinese insurance firm -- Sunshine Insurance Group.
Hotel Ritz Madrid

Through a joint venture with Mandarin Oriental, the Group acquires The Hotel Ritz in Madrid.

Cummins Arabia
Cummins Inc. and The Olayan Group form a three-country distribution joint venture in the Middle East, furthering a business relationship that began 60 years ago.
550 Madison Avenue

In association with Chelsfield, the Group purchases 550 Madison Avenue in Manhattan, otherwise known as the Sony Tower.
New Group CEO Appointed
Long-serving senior executive Aziz Syriani is succeeded by Robert Leary as Chief Executive Officer of the Group. Mr. Syriani remains Chairman of the Corporate Board.
70th Anniversary

The Group marks its 70th Anniversary with celebrations in Riyadh, Athens, New York, and London.
New Group Chairman Named
Following her retirement as CEO of Olayan America, Hutham Olayan succeeds Aziz Syriani as Chairman of the Corporate Board.


Group CEO Transition
The Olayan Group names Camile Saba to succeed Robert Leary as its global chief executive officer. Mr. Saba is a 33-year veteran of the Group.
New Singapore Office

The Olayan Group establishes an office in Singapore; its first in Asia.
Real Estate Acquisition in Asia
The Group makes its first direct real estate investment in Asia, the commercial and retail podium block of Chevron House (30 Raffles Place) in Singapore.

The Olayan Group Goes Global

The Olayan Group establishes its first company outside of the Middle East - an investment portfolio in U.S. equities.
Kimberly-Clark

Olayan enters into an agreement with Kimberly-Clark to construct the first tissue converting plant in Saudi Arabia.
New York Office Opens

The Group opens an office in New York.
Jubail Industrial City

The Group's joint venture company with Bechtel is given the contract for the engineering and project management of Jubail Industrial City.
Donaldson, Lufkin & Jenrette

The Group acquires a more than 5% equity holding in Donaldson, Lufkin & Jenrette (later increasing to nearly 25% before being sold to Equitable Life in 1985). The move establishes the Group's long-term international approach, involving substantial minority stakes in a highly selective core group of companies.
London Office Opens

The Group opens an office in London.