Atlas Elevators Acquires 11,250 M² in Riyadh Expansion

Atlas National Elevators Factory Co., a 99%-owned subsidiary of Atlas Elevators General Trading and Contracting Co., acquired usufruct rights — allowing it to use and benefit from property while ownership belongs to another — for a 11,250-m2 plot in Riyadh’s Second Industry City from Saudi Kuwaiti Furniture Manufacturing Co., argaam reports. The SAR12.5-million (US$3.3 million) deal will allow Atlas Elevators to set up a factory and enhance its position in the competitive Saudi market once the factory becomes operational by the end of this year. The deal includes all buildings and related assets, including equipment, air-conditioning systems and electrical installations.

Get more of Elevator World. Sign up for our free e-newsletter.

Please enter a valid email address.
Something went wrong. Please check your entries and try again.

Dubai; photo by GizmoPhotography for Pixabay

Luxury Residential Demand Soars in Dubai

GHMC TO FLOAT TENDERS FOR FOB MAINTENANCE

GHMC To Float Tenders for FOB Maintenance

SHORTS INDUSTRIES ANNOUNCES TRADE PARTNERSHIP WITH BERNSTEIN LTD.

Shorts Industries Announces Trade Partnership With Bernstein Ltd.

(l-r) Dr. Ahmed Shalaby, co-founder, president and CEO of Tatweer Misr and João Penedo, Otis senior vice president for Iberia, Africa and the Middle East, during the signing of the agreement; image courtesy of Otis

Otis Partners With Tatweer Misr for Six Projects in Egypt

CAUTION URGED AFTER FATAL ESCALATOR FALL IN CANADA

Caution Urged After Fatal Escalator Fall in Canada

One of the new elevators; image courtesy of MTA

Modern Elevator Provides Two ADA Units for Brooklyn Station

AZERBAIJANI-CHINESE VT FACTORY TO LAUNCH IN AZERBAIJAN

Azerbaijani-Chinese VT Factory in Azerbaijan

Elevators were installed in wooden shafts using a certified, high-efficiency assembly method; image courtesy of Schindler.

Schindler Provides 32 Elevators for New Berlin Schools