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The Olayan Group, a new entrant in the Singapore real estate market, on June 30, 2020, completed its purchase of the seven-story podium block at the base of Chevron House in Singapore’s downtown core. The 32-storey office tower is also known as 30 Raffles Place.

The Olayan Group has released the first details of the interior revitalization of 550 Madison, Philip Johnson and John Burgee’s famous Postmodern icon that is being brought back to life as a boutique luxury office tower.

In an internal promotion, The Olayan Group has named Camile Saba to succeed Robert Leary as its global chief executive officer.  The change takes effect on August 1, 2019.

Effective May 1, Lubna Olayan will retire as CEO of Olayan Financing Company (OFC), the Group’s Riyadh-based investment arm and holding company for the Middle East.  Ms. Olayan will remain a key member of the Group’s Corporate Board of Directors, Shareholders’ Board, and Olayan Family Council.  She will also continue to lead the Group’s philanthropic activities as president of the Suliman S. Olayan Foundation. Jonathan Franklin, a senior executive at OFC, will take over as the company’s new CEO, also on May 1.

The New York City Landmarks Preservation Commission (LPC) today approved the new preservation-led design for 550 Madison, the landmark commercial tower in East Midtown.