Milestones
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1947
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.
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1950
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.
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1954
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.
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1954
Arab Commercial Enterprises
Arab Commercial Enterprises is founded, later to become the largest insurance brokerage in the Middle East.
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1956
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.
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1959
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.
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1961
The Olayan Group Goes Global
The Olayan Group establishes its first company outside of the Middle East - an investment portfolio in U.S. equities.
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1969
Kimberly-Clark
Olayan enters into an agreement with Kimberly-Clark to construct the first tissue converting plant in Saudi Arabia.
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1971
New York Office Opens
The Group opens an office in New York.
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1972
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.
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1975
London Office Opens
The Group opens an office in London.
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1975
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.
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1976
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.
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1980
First Chicago Corporation
The Group acquires a significant stake in First Chicago Corp.
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1983
Occidental Petroleum Corp.
The Group acquires a significant stake in Occidental Petroleum Corp.
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1986
Xerox
The Group establishes a company to sell Xerox equipment in the Kingdom.
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1987
Transamerica Corp.
The Group acquires a 5.3% stake in
Transamerica Corp.
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1988
Coca-Cola
An agreement with The Coca-Cola Company establishes the Saudi franchise for Coca-Cola products and services.
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1988
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.
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1990
Colgate-Palmolive
The Group enters into a joint venture with Colgate-Palmolive covering the entire Arabian Gulf region.
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1991
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.
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1991
Chase Manhattan
The Group acquires a 5.3% stake in Chase Manhattan Corporation.
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1993
Coca-Cola Bottling Company
The Coca-Cola Bottling Company of Saudi Arabia establishes the first of three bottling plants in the Kingdom.
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1996
National Grid
The Group acquires a 12% economic interest in Britain's National Grid.
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1997
50th Anniversary
The Group marks its 50th Anniversary.
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2000
Biography of Suliman S. Olayan
Suliman S. Olayan's biography, 'From Unayzah to Wall Street' is published.
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2000
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.
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2002
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.
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2003
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.
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2007
60th Anniversary
The Group marks its 60th Anniversary.
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2007
Related Companies
The Group co-invests with a group of other leading firms in Related Companies, a major US property developer.
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2008
Cummins Olayan Energy
Cummins Olayan Energy Ltd. is formed as a joint venture between the Group and Cummins Power Generation Ltd.
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2008
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.
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2009
Baxter JV
Baxter Company Limited is formed as a joint venture between the Group and Baxter Healthcare Corporation.
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2010
CH2M Olayan
The Group enters into a joint venture with CH2M HILL for the planning and management of major infrastructure projects.
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2010
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.
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2012
65th Anniversary
The Group marks its 65th Anniversary.
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2014
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.
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2015
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.
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2015
Hotel Ritz Madrid
Through a joint venture with Mandarin Oriental, the Group acquires The Hotel Ritz in Madrid.
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2016
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.
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2016
550 Madison Avenue
In association with Chelsfield, the Group purchases 550 Madison Avenue in Manhattan, otherwise known as the Sony Tower.
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2017
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.
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2017
70th Anniversary
The Group marks its 70th Anniversary with celebrations in Riyadh, Athens, New York, and London.
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2018
New Group Chairman Named
Following her retirement as CEO of Olayan America, Hutham Olayan succeeds Aziz Syriani as Chairman of the Corporate Board.
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2019
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.
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2019
New Singapore Office
The Olayan Group establishes an office in Singapore; its first in Asia.
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2020
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.
1961
The Olayan Group Goes Global
The Olayan Group establishes its first company outside of the Middle East - an investment portfolio in U.S. equities.
1969
Kimberly-Clark
Olayan enters into an agreement with Kimberly-Clark to construct the first tissue converting plant in Saudi Arabia.
1971
New York Office Opens
The Group opens an office in New York.
1972
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.
1975
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.
1975
London Office Opens
The Group opens an office in London.