News

Landmarks Preservation Commission Approves Design for 550 Madison

February 12, 2019

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.

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Hutham Olayan to Chair Olayan Group Board

August 13, 2018

Hutham Olayan has been named the new chairperson of The Olayan Group’s Corporate Board.  Ms. Olayan succeeds Aziz Syriani, who has chaired the board since its formation in 2013 and will remain a director.  The change will take effect at the board’s next meeting in October 2018.

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Hotel Ritz in Madrid to Undergo Major Restoration

January 26, 2018

The Olayan Group and Mandarin Oriental Hotel Group are embarking on a major restoration of the famed Hotel Ritz in Madrid, which is jointly owned by the two groups.

On behalf of the joint venture, Mandarin Oriental announced that the historic hotel will close on Feb. 28 for a $121-million restoration, which is expected to be completed in late 2019.

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Plans Unveiled for 550 Madison Ave.

October 30, 2017

Olayan America and its real estate development partner Chelsfield unveiled plans for 550 Madison Avenue in Midtown Manhattan. The plans include the selection of internationally acclaimed architecture and design firm Snøhetta to reimagine the lower levels of the office tower and update the building with state-of-art systems.

Olayan America acquired the property in May 2016 as a multi-generational asset.

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Lubna Olayan Co-Chairs Saudi-US CEO Forum; Presents New Select Medical JV

May 20, 2017

Lubna Olayan, a director of The Olayan Group and CEO of Olayan Financing Company, served as co-chair of the inaugural Saudi-US CEO Forum.

Coinciding with US President Donald Trump’s first official visit to Saudi Arabia, the forum featured the signing of dozens of agreements between US companies and the Kingdom. The organizers hope to make the forum an annual event, to boost bilateral trade and investment between Saudi Arabia and the United States.

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