February, 2013 – Albert Beckford Jones establishes Business Development Department at King Abdullah University
Saudi Arabia – The CEO of Trading and Consulting International Inc., Albert Beckford Jones, has completed the organization and implementation of King Abdullah University of Science and Technology’s (KAUST) Business Development Department, providing a way to lessen the institution’s dependence on its endowment. KAUST is, today, a $22 billion USD (plus) endowed international co-educational graduate science and Research university located on the Red Sea at Thuwal, Saudi Arabia. The university is sited on more than 36 square kilometers (14 sq. mi.), which encompass a marine sanctuary and a research facility.
Mr. Walker, Acting CFO and Director of Budget and Planning, observed that “Dedication to work, organization, and attention to details have lead Mr. Jones to numerous successes,” as he established the Business Development Department and its vision: “To advance and promote business opportunities within KAUST’s facilities, community, and properties to generate a long term, continuous revenue stream.” Mr. Jones also wrote a university-wide policy and charter for the Approval of Major Commercial Projects, and implemented a 5-step business development process which entailed developing business concepts, preparing business cases, conducting feasibility studies, approaching investors, and preparing project charters.
Two major projects were developed and approved by the University Executive Committee under Mr. Jones’ management: a business concept of a multi-million dollar master plan for the best and highest commercial mixed land use of c.150 Ha (1.5M sq. mi.) of University-endowed property, and a business case to commercialize projected excess desalinated water in the form of bottled water.
Mr. Shammeri, Vice President of Facilities and Community, added, “I had first-hand exposure to Mr. Jones’s productive approach to problem solving when he presented the cases for two major commercial projects: a multi-million dollar mixed-use land development, and the commercialization of excess desalinated water into bottled water. As the Manager of Business Development, Mr. Jones’s ability to take an initial business concept and transform it into a viable business case was outstanding.” Mr. Salomon, Contract Specialist, stated that Mr. Jones “leaves KAUST with a portfolio of commercial plans that the university can implement and subsequently realize the substantial commercial benefits.”