Business

JP Legal Saudi Advises Regional Hospitality Brand TIME Hotels on Saudi Market Entry

Published

1 year ago

August 2, 2024

Regional law firm JP Legal has advised TIME Hotels, a regional hospitality brand, on establishing operations in the Saudi markets. This strategic move is set to expand the brand’s growth in the region.

TIME Hotels is a rapidly expanding hotel management company with five distinct brands catering to a wide range of guest profiles. The brand was co-founded in 2012 by Mohamed Awadalla, CEO, who oversees the company’s Hotels & Resorts, Hotel Apartments, Express Hotels, Residences, and Motels. Awadalla is tasked with spearheading future development and driving the commercial success of TIME Hotels’ expanding portfolio in the Middle East and Northern Africa.

Under the leadership of newly appointed COO William Costley, TIME Hotels has embarked on an exciting journey of growth and transformation. The revamped brand identity reflects a commitment to adapting to the ever-changing preferences of its guests while upholding its core values of providing top-notch service and pioneering innovation. With a career spanning over 40 years in various international markets, Costley brings a wealth of experience to the company. He recently shared with Hotelier the strategic direction behind the brand’s revamp and its implications for the company’s evolution.

The JP Legal corporate team for TIME Hotels was led by Riyadh-based Partner Anas El Jisr, assisted by associates Basil Al Ruwaili, Joyce Karam, and Diala Hayek.

Operating across its offices in the Middle East, JP Legal Saudi Arabia has advised and assisted multinational companies on entering the Saudi markets and establishing a strong presence. The firm has guided renowned brands like Elie Saab in setting up retail stores in the heart of Via Riyadh, advised Anghami, a major player in the music industry, listed on the US NASDAQ Stock Exchange, on doing business in Saudi Arabia and Apotex Inc., a major multinational pharma company on setting up their Regional Headquarter in Saudi Arabia. JP Legal has seen significant growth, with recent senior recruits from major regional and international firms.

Anas El Jisr, Corporate/M&A Partner at JP Legal, stated: “We remain dedicated to advising major brands on entering the Saudi markets, which we believe is the heart of the MENA region. Saudi Arabia is leading across all sectors and offers immense potential for great companies. The country has grown exponentially post-implementation of the Vision 2030 initiative and has become a number one business hub for multinational players”.

Business

Black Banx Group — Third Quarter 2025 Results

Published

4 hours ago

November 3, 2025

Matthew Wiles

FOR IMMEDIATE RELEASE · Road Town, British Virgin Islands · October 30 2025

Black Banx reports USD 4.3 billion revenue and USD 1.6 billion pre-tax profit in third quarter 2025

Black Banx Group today announced its results for the third quarter ended 30 September 2025, delivering strong performance with further progress toward its full-year targets.

Key figures for Q3 2025:

Revenue: USD 4.3 billion
Profit before tax (PBT): USD 1.6 billion
Cost-to-income ratio: ≈ 62%
Customer base (period-end): ~92 million clients

YTD (first nine months) results: Revenue USD 12.7 billion, PBT USD 4.7 billion, positioning the Group on track toward its full-year ambitions of ~USD 17 billion revenue and ~USD 6.4 billion PBT.

“Our Q3 results reaffirm the scalability and resilience of our platform,” said Michael Gastauer, Group CEO. “By continuing to scale our client base, deepen engagement, and drive operational efficiencies, we maintain momentum toward our 100 million-customer milestone and full-year ambitions.”

Daniel Dumitrascu, Group CFO, added: “We are pleased to demonstrate sequential improvement in our cost/income ratio despite ongoing investment in growth markets. With the first nine months delivered, our Q4 plan is well calibrated to close the year strongly.”

Business highlights:

Net customer adds of approximately 8 million during Q3, bringing the total client count to ~92 million as of 30 September 2025. On pace for the 100 million-customer target by year-end.
Continued growth across emerging markets, driven by expansion efforts in Africa, South Asia and Latin America.
Strong transaction volumes across cross-border payments and cryptocurrency-adjacent services, contributing to top-line resilience.
Ongoing initiatives to optimise operations and automate processes delivered a sequential improvement in cost/income ratio to ~62% from ~64% in Q2.
Strategic investments sustained in growth markets while preserving profitability and shareholder value.

Outlook:

With three quarters behind it, Black Banx remains aligned with its 2025 full-year targets of approximately USD 17 billion in revenue and ~USD 6.4 billion in pre-tax profit. The company anticipates a seasonally stronger Q4 performance, underpinned by ongoing global client acquisition and further monetisation of its platform.

About Black Banx Group:

Black Banx Group is a global digital banking and fintech platform serving tens of millions of private and business clients across more than 180 countries. The Group offers seamless, borderless banking services, including multi-currency accounts, cross-border payments and cryptocurrency-compatible solutions. Headquartered in the British Virgin Islands, Black Banx is dedicated to innovation, financial inclusion and delivering value to its stakeholders.

Media Contact:

Black Banx Media Relations
Email: [email protected]

Forward-looking statements: This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the Group’s business strategy, financial prospects, targets and trajectory. Actual results may differ materially from those anticipated.