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Egis Recognised as a 2024 Top Employer in Saudi Arabia

Egis, a leading international group in architecture, consulting, construction engineering, and mobility services, is proud to announce its certification as a 2024 Top Employer in Saudi Arabia. This recognition by the Top Employers Institute underlines Egis' dedication to fostering a superior work environment through leading human resources (HR) practices. The Top Employer Institute's certification process assesses organizations based on their participation and results in the HR Best Practices Survey. This assessment covers six HR domains consisting of 20 topics including People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity & Inclusion, Wellbeing and more. Robert Hope, Middle East Regional Managing Director at Egis in Saudi Arabia, said: "As we navigate the complexities of a rapidly evolving ......read more

Farmer's Market with Azka Foods returns to Hayy Jameel in Jeddah

Jeddah: Art Jameel, an organization that supports artists and creative communities, hosts another edition of its highly anticipated Farmer's Market at Hayy Jameel with Azka Foods. The two-day family-friendly market takes place at Jeddah home for the arts on Friday May 24 and Saturday May 25, bringing together more than 20 vendors from across all 13 regions within Saudi Arabia to celebrate local, organic and seasonal produce. Showcasing local produce, culinary delights, heritage, and a rich public programme including talks, workshops and film screenings, the Farmer's Market is free and open to all ages with the aim of connecting, understanding and appreciating the abundance and diversity of the lands     . This edition of the Farmer's Market is the fourth collaboration with Azka Foods, an online Ethical ......read more

New Murabba's Mukaab Signs Landmark Piling Contract With Hssg Foundation Contracting Llc

Riyadh, Saudi Arabia – 23 May 2024 – In a significant milestone that propels the ambitious Mukaab forward, the New Murabba Development Company – A PIF Company -  is pleased to announce the signing of the Mukaab Piling Works Contract with HSSG Foundation Contracting LLC, known for providing technically advanced foundation solutions. This marks a pivotal step in the development of the Mukaab, which is set to become the centerpiece of the New Murabba, Riyadh’s transformative downtown destination. Once completed, the Mukaab will be one of the largest built structures in the world (measuring 400 meters in height, width, and length). The contract was formalized by Michael Dyke, Chief Executive Officer of New Murabba Development Company, and Ali Korhan from HSSG Foundation Contracting, bringing together two ......read more

Saudi Arabia's Non-Oil Sector Remains Resilient as Riyadh Emerges as a Destination for International Corporations

- The sector remained the key driver of the economy and surged by a robust 4.4% in 2024, despite a revised overall GDP last year, which showed a decline of 0.8%. - Continued strength in non-oil activities is expected to propel GDP growth to a projected 2.1% in 2024. - Grade A offices witnessed an increase in rents by 5% in the last quarter, owing to the buoyant demand for quality assets. - Technology, Media & Telecommunications (TMT) and Banking, Financial Services and Insurance (BFSI) companies dominated occupier inquiries, comprising 27% of the total inquiries received by Savills.   The latest Saudi commercial market report by Savills revealed that despite global economic challenges and a GDP that was revised downward by 0.8% last year, Riyadh’s office market has maintained its robust performance in the ......read more

Fortinet Reports First Quarter 2024 Financial Results

First Quarter 2024 Highlights Total revenue of $1.35 billion, up 7% year over year Service revenue of $944 million, up 24% year over year GAAP operating margin of 23.7% Non-GAAP operating margin of 28.5% Cash flow from operations of $830 million Free cash flow of $609 million Riyadh: Fortinet® (Nasdaq: FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results for the first quarter ended March 31, 2024. Financial Highlights for the First Quarter of 2024 Total revenue was $1.35 billion for the first quarter of 2024, an increase of 7.2% compared to $1.26 billion for the same quarter of 2023. Product revenue was $408.9 million for the first quarter of 2024, a decrease of 18.3% compared to $500.7 million for the same quarter of 2023. Service ......read more

Al Masaood Bergum Showcases Innovative Modular Solutions at Saudi Giga Projects 2024 & MENA Construction Summit 2024

Al Masaood Bergum's modular solutions to expand to Saudi market Abu Dhabi, May 13, 2024 – Al Masaood Bergum, part of Al Masaood Group, and a leading tailor-engineered modular building systems provider, successfully participated as an attending partner at the Saudi Giga Projects 2024 and MENA Construction Summit 2024 at the Hilton Hotel & Residences in Riyadh on 13-14 May 2024. The first day of the event was dedicated to Saudi Giga Projects 2024, giving participants an overview and future perspective of Saudi Arabia's giga project initiatives and the opportunities it presents for contracts and suppliers. The second day focused on the MENA Construction Summit 2024, fostering in-depth conversations about the execution of construction projects, while also emphasizing enhanced sustainability and efficiency ......read more

Saudi Moving and Logistics Companies Showcase Significant Presence on the Global Stage

Al Mani: "Participating in this significant international event allows us to enhance our robust partnerships and extend our reach globally. This enables us to deliver our services to and from any conceivable destination worldwide.” Jeddah, Saudi Arabia, May 12, 2024: In a new step to strengthen its presence on the international stage, Four Winds Saudi Arabia Limited, Four Winds Saudi Arabia Limited, a Saudi leader in comprehensive and integrated moving and logistics services since 1979, today announced its participation as a Principal Sponsor at the 2024 FIDI Conference, which will be held in Edinburgh, Scotland, from May 12 to May 15, 2024. Nizar Al Mani, CEO of Four Winds Saudi Arabia Limited, said: "Our principal sponsorship of the FIDI Conference 2024 signifies a strategic move to enhance our international ......read more

SRMG launches the second edition of the Saudi Young Lions Competition

Championing the development of Saudi Arabia’s creative talent on a global stage SRMG is back with the second edition of the Saudi Young Lions design competition, highlighting its role as the official Saudi representative at the Cannes Lions International Festival of Creativity Registration is now open to graphic designers, illustrators and creatives aged 30 or under currently working in Saudi Arabia The winning team will compete in the Global Young Lions competition at Cannes Lions 8 May 2024 | Riyadh: SRMG, the largest integrated media group from the MENA region, today launched the second edition of the Saudi Young Lions design competition. The competition provides young and up-and-coming creators from Saudi Arabia a platform to showcase their creativity and ingenuity. It also represents a key aspect of SRMG’s ......read more

AlUla recognised with Sustainability Stand Award at Arabian Travel Market 2024

AlUla recognised with prestigious Sustainability Award for stand concept of ‘AlUla’s Net Zero: Empowering Innovation, Transforming Travel’ Presence at Arabian Travel Market (ATM) highlights AlUla’s drive for sustainable tourism, including conservation projects, eco-friendly accommodation, and community-based tourism initiatives - underpinned by AlUla Sustainability Charter and amplified by destination’s first global brand campaign, ‘Forever Revitalising AlUla, Saudi Arabia – 08 May 2024: The ancient city of AlUla in northwest Saudi Arabia has been honoured with the prestigious Sustainability Stand Award at the Arabian Travel Market (ATM) in Dubai, United Arab Emirates, out of 2,844 other competing stand designs at the event.  This accolade highlights AlUla’s steadfast ......read more

Americana Restaurants announces Q1 2024 Financial Performance, reports $493.5 million in Revenue

Revenue of $493.5 million in Q1 24, resulting in Adjusted EBITDA margin of 20.9% Continued restaurant portfolio growth with the opening of 37 new stores in Q1 2024 and 37 new restaurants under construction Persistent focus on optimizing costs and driving revenue opportunities Abu Dhabi and Riyadh, 07 May 2024: Americana Restaurants International PLC (“Americana Restaurants” or the “Company”) (ADX symbol: AMR/ ISIN: AEE01135A222) (Saudi Stock Exchange symbol: 6015), the largest out-of-home dining and quick service restaurant operator in the Middle East & North Africa (“MENA”) and Kazakhstan, today announced its financial results for the three-month period ended 31 March 2024, generating revenues of $493.5 million and adjusted EBITDA of $103.3 million. Business Performance Impacted by ......read more

Economic transformation through automotive innovation showcased at Automechanika Riyadh

Local manufacturing and collaborative efforts are set to transform the Saudi Arabian automotive landscape, according to the Ministry of Industry and Mineral Resources Saudi automotive market has a 42% share in the MENA region and a sales forecast of 920,000 vehicles by 2035 The event continues on Thursday, 2 May 2024, at the Riyadh International Convention and Exhibition Centre Riyadh, KSA: Driving towards a sustainable future, the Saudi Arabian automotive industry is rapidly evolving under the ambitious Vision 2030 framework. This is according to Eng. Aftab Ahmed, Chief Advisor -Automotive Cluster, National Industrial Development Centre (NIDC), Ministry of Industry and Mineral Resources, who was speaking at the 6th edition of Automechanica Riyadh, which continued today at the Riyadh International Convention and Exhibition ......read more

First SaudiFood Manufacturing, Kingdom's largest F&B manufacturing event to-date, gets underway

Show opened by Eng. Majed Al-Argoubi, CEO of MODON Keynote addresses touch on the role of F&B manufacturing in achieving Saudi Vision 2030, and Inaugural SaudiFood Manufacturing Awards winners announced RIYADH – May 1, 2024: Eng. Majed Al-Argoubi, CEO of the Saudi Authority for Industrial Cities and Technology Zones (MODON) has opened the busy inaugural SaudiFood Manufacturing show, which runs from April 30 – May 2 at Riyadh Front. Eng. Al-Argoubi inaugurated the exhibition and toured its aisles, visiting the stands of many national and international companies, as well as countries. Over 500 global players from 35 countries are participating in the exhibition, from across the processing, packaging and ingredients sectors. Opening the Food Forward Summit, Eng. Al-Argoubi stressed the importance of the event ......read more

Localized data centers are key to business empowerment in KSA

Riyadh:  Saudi Arabia is at the crossroads of digital transformation. Its ambitious Vision 2030 seeks to propel the nation into a new era of economic diversification, social progress, and technological advancement. The Saudi government has embraced digital transformation as an integral and pragmatic strategy in line with this vision. This transformation aims to enable and accelerate government efficiency and effectiveness, and propel Saudi businesses into the global market by leveraging technology. Digital transformation is also increasing the demand for cloud-based solutions in Saudi Arabia. Public cloud spending in Saudi Arabia was expected to exceed $950 million by end of 2022, with a projected 24% compound annual growth rate (CAGR) by 2025. Organizations are recognising the cost-efficiency, security, agility, and ......read more

Geopolitical stability, inclusive growth, energy security under spotlight in Riyadh at World Economic Forum Special Meeting

Riyadh-Saudi Arabia. 29 April 2024 – Riyadh convened global leaders today at the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development to host candid dialogues and outline bold steps to tackle the most pressing geopolitical, social and economic challenges facing humanity. Speaking at the Special Meeting, His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy for Saudi Arabia said a just and equitable energy transition will only be achieved by using a range of energy sources to diversify the global energy market. Access to secure and reliable energy, he said, is crucial to enabling people and communities from emerging nations achieve meaningful economic development. In a session on 'North to South, East to West: Rebuilding Trust', His Highness ......read more

Boehringer Ingelheim reports strong growth in 2023 and accelerates late-stage pipeline

In 2023, Boehringer Ingelheim in India, Middle East, Turkey and Africa (IMETA) region achieved net sales of EUR 779 million, reflecting a 13% increase compared to the previous year. Globally, Human Pharma sales increased by 10.3%* to reach EUR 20.8 bn, whereas Animal Health sales increased by 6.9 %* to EUR 4.7 bn, both fueled by new product launches. R&D expenditures increased by 14.2% to EUR 5.8 bn globally. Riyadh, Kingdom of Saudi Arabia – April 28, 2024: Boehringer Ingelheim, one of the world’s leading biopharmaceutical companies, recently announced a strong acceleration of its pipeline in 2023. Net sales in India, Middle East, Turkey and Africa (IMETA) reached EUR 779 million in 2023, reflecting a 13% increase from the previous year’s EUR 689 million. Moreover, these robust results align with ......read more

Automechanika Riyadh to be held under the patronage of the Saudi Arabian Ministry of Investment

The keynote speech is to be delivered by Eng. Saleh Al Khabti, Deputy Minister of Investment Transaction, Ministry of Investment A host of prominent speakers will represent several key bodies and government departments during Automechanika Riyadh, including the Saudi Standards Metrology and Quality Organization (SASO) and GCC Standardization Organization (GSO), amongst others The event returns from 30 April to 2 May 2024 at the Riyadh International Convention and Exhibition Center Riyadh, KSA: Automechanika Riyadh will officially be held under the Patronage of the Saudi Arabian Ministry of Investment, with the opening keynote speech to be delivered by Eng. Saleh Al Khabti, Deputy Minister of Investment Transaction, Ministry of Investment and Patron of the event. Several high-profile speakers will join him as part of the ......read more

Investcorp Launches a USD 1 billion Platform, To Be Anchored by China Investment Corporation, to Invest in the GCC and China

Riyadh, 24 April 2024 – Investcorp, a leading global alternative investment firm, and China Investment Corporation (“CIC”), one of the world’s largest sovereign wealth funds, have today announced the launch of “Investcorp Golden Horizon” to invest in high-growth companies across Saudi Arabia, the rest of the countries of the Gulf Cooperation Council (the “GCC”) and China (the “Platform”). The Platform has a target size of USD 1 billion and will be anchored by reputable institutional and private investors from the GCC, as well as CIC. Target companies are expected to have high growth potential in attractive sectors, including consumer, healthcare, logistics and business services. The Investcorp Saudi Pre-IPO Growth Fund, which is part of the Platform, has already announced ......read more

Diriyah Company Announces Zallal, Diriyah's First Mixed-Use Commercial Office And Retail Offering

Zallal set to open in 2025 within Bujairi District Includes two low-rise office buildings and 12 Retail and F&B outlets Over 14,000 square meters of leasable space and set to accommodate approximately 500 employees. Leasing space still available for commercial and retail operators at Zallal APRIL 22, 2024, RIYADH – Diriyah Company today has announced details of Zallal, its first major mixed-use commercial office and retail project that is set to open in the first half of 2025 in the Bujairi District. Construction is now well underway and when completed will include two low-rise office buildings with a combined leasable area of approximately 6000 square meters and 12 mixed retail and F&B outlets over an area of approximately 8000 square meters. The project has already received very positive reactions from ......read more

Inaugural SaudiFood Manufacturing show to put spotlight on Kingdom's F&B manufacturing industry

Held under the patronage of H.E. bander Ibrahim Al Khorayef, Minister of Industry and Mineral Resources Over 400 leading global brands exhibiting across processing, packaging & ingredients Food Forward Summit brings stellar line up of world experts to Kingdom for the first time RIYADH – 21 April, 2024: The inaugural edition of SaudiFood Manufacturing, the first dedicated F&B manufacturing event in the Kingdom spanning processing, packaging and ingredients; will be the launchpad for the industry to take its place at the heart of Saudi Arabia’s economic transformation. Following the highly successful launch of The SaudiFood Show, the largest food event in the Kingdom, organisers KAOUN International and dmg events, today unveiled highlights of the much-anticipated SaudiFood Manufacturing event, taking place ......read more

Saudi Investment Recycling Company and SAP extend partnership with new deployment and an MoU exploring collaboration on sustainability solutions

SIRC and two subsidiaries implement SAP S/4HANA, Ariba, SuccessFactors and Analytics Cloud Photo caption: Sultan Saud Alsaif, Executive Director of Technology & Innovation, SIRC, and Dr Fahd Nawwab, Vice President, SAP Saudi Arabia, attended a ceremony to celebrate the successful deployment of several technology solutions and to sign an MoU extending the relationship between their companies. Riyadh, KSA – 16 April 2024 – The Saudi Investment Recycling Company (SIRC), wholly owned by the Public Investment Fund (PIF), has announced the successful deployment of solutions from global technology company SAP that will modernize business processes including procurement infrastructure and employee management. The two parties are also deepening their existing relationship, signing a memorandum ......read more

Saudi Exchange Marks a Milestone with its 400th Listed Security

The Saudi Exchange has hit a milestone of 400 listed securities In 2023, IPOs on the Saudi Exchange accounted for over 70% of GCC IPOs, with a robust pipeline supporting the Exchange’s accelerated growth to become one of the top 10 largest exchanges globally according to the World Federation of Exchanges Riyadh, Saudi Arabia [31 March 2024]: The Saudi Exchange has welcomed its 400th listing across all securities. This achievement highlights the Exchange’s pivotal role in the Kingdom’s economy, underpinned by robust international investor interest and a diverse range of securities within a highly dynamic market landscape. Since its establishment 16 years ago, the Saudi Exchange has quickly grown to become one of the top ten largest in the world, the third largest amongst emerging market peers, and ......read more

Green Corp acquires Emad Bakeries increasing investment in Saudi food processing

GreenCorp, powered by a $150 million fund controlled by ultimate owner Gulf Islamic Investments group (GII), extended its food production and processing portfolio by acquiring Emad Bakeries, a leading industrial bakery in Jeddah, Saudi Arabia. This acquisition bolsters the assets managed by GreenCorp, advancing its vision of a unified GCC platform spanning the entire food value chain. Jeddah: ­­­­­­GreenCorp has acquired Emad Bakeries, a prominent Jeddah-based producer of Arabic bread and pastries, in a strategic move that strengthens GreenCorp's food-focused investment platform within the GCC. Emad Bakeries operates the largest industrial fresh flatbread bakery in western Saudi Arabia, with state-of-the-art manufacturing facilities. This additional investment empowers Emad Bakeries' plans ......read more

Green Corp acquires Jeddah-based Emad Bakeries to boost its investments in Saudi food processing capabilities and strengthen regional food security

GreenCorp, powered by a $150 million fund controlled by ultimate owner Gulf Islamic Investments group (GII), extended its food production and processing portfolio by acquiring Emad Bakeries, a leading industrial bakery in Jeddah, Saudi Arabia. This acquisition bolsters the assets managed by GreenCorp, advancing its vision of a unified GCC platform spanning the entire food value chain. 28 March 2024: Dubai, United Arab Emirates: GreenCorp has acquired Emad Bakeries, a prominent Jeddah-based producer of Arabic bread and pastries, in a strategic move that strengthens GreenCorp’s food-focused investment platform within the GCC. Emad Bakeries operates the largest industrial fresh flatbread bakery in western Saudi Arabia, with state-of-the-art manufacturing facilities. This additional investment empowers Emad ......read more

From LA to Riyadh: Outer Edge Web3 Innovation Summit debuts in Saudi Arabia in partnership with Animoca Brands and KACST

Outer Edge, Animoca Brands and King Abdulaziz City for Science and Technology (KACST) present Summit on 23 April to highlight advances in Web3 and gaming ecosystem development in Saudi Arabia  21 March 2024, Riyadh – Outer Edge, one of the pioneer events in the world of Web3, tech, culture, and entertainment, today announced a partnership with Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, and King Abdulaziz City for Science and Technology (KACST), the national labs of the Kingdom, to debut Outer Edge Riyadh on 23 April. The dynamic event is set to bring together some of the biggest names in the blockchain, AI, and gaming ecosystems from all over the world to Riyadh, Saudi Arabia. Outer Edge, historically based in LA and now expanding to the Middle East, is known for ......read more

Automechanika Riyadh 2024 records a 448% increase in exhibitor numbers

The 2024 edition of the show will be the largest to date, as the Saudi automotive aftermarket is anticipated to top US$9.4 billion by 2027 Following unprecedented demand, the exhibition is now sold out, with more than 280 exhibitors confirmed More than 25% of exhibition show space will be dominated by first-time and returning Saudi exhibitors   Riyadh, KSA: Automechanika Riyadh, Saudi Arabia’s leading trade show for the automotive aftermarket, will return to the Riyadh International Convention and Exhibition Center (RICEC) from 30 April to 2 May 2024. The exhibition’s most extensive edition to date will include a record number of exhibitors, with over 280 exhibitors confirmed and more than 8,000 visitors expected during the three-day showcase. Occupying three halls at RICEC, the 6th edition of the ......read more

Banque Saudi Fransi and AstroLabs announce 2nd cohort of the “Banker Technologist” to empower Saudi Arabia's next-gen talents in financial sector

Following the success and impact of its first cohort, Banque Saudi Fransi (BSF) has announced the start of the second cohort of its “Banker Technologist” to nurture the growth of new tech talent pipelines in Saudi Arabia. The program is held in partnership with AstroLabs, the Gulf’s leading expansion platform. The initiative comes as part of the BSF's efforts to develop its human capital and accelerate its digital mindset while nurturing the growth of talent in the financial sector.  The kingdom is actively fostering a conducive environment for banking and financial innovation and strengthening its digital infrastructure in line with its Vision 2030 for digital transformation. At the helm of this growth are increasing digital consumers, driving demand for convenient, fast, and diverse financial products and ......read more

Metro Brazil expands footprints in KSA to contribute to booming retail and eCommerce market

• The company's expansion is a result of thorough research on customer expectations, cultural nuances, fashion trends, and local payment methods. • The Saudi Arabia shapewear and stocking market is projected to reach a market size of more than USD 7 million by 2028   UAE, March 12, 2024: Metro Brazil, the leading retail and eCommerce company for Brazilian shapewear in the Middle East, expanded its operations into the ;Kingdom of Saudi Arabia (KSA) with its commitment to enhance the growing retail sector.  Projections indicate a substantial expansion of the KSA retail market,anticipated to reach USD 54.46 billion by 2028. Metro Brazil is poised to leverage this growth with its state-of-the-art eCommerce platform, and best in class products, addressing the evolving demands of the fashion retail ......read more

New Murabba leads Saudi Urban Development Investment Drive at MIPIM 2024 France

Cannes, France – March 11, 2023 – New Murabba Development Company, a leading urban development destination in Saudi Arabia, is showcasing its transformative vision at the 2024 MIPIM, a prestigious real estate event gathering industry leaders from across the globe taking place on 12-15 March at the Palais des Festivals, Cannes, France. Under the “Invest Saudi” umbrella, New Murabba Development Company aims to attract international investment and highlight the Kingdom's commitment to economic diversification. New Murabba Development Company is currently in the development phase of New Murabba Modern Downtown, a transformative urban development in Riyadh, Saudi Arabia. New Murabba Development Company aims to create the world’s most transformative and modern city centre, which will serve as a model for ......read more

Gulf Islamic Investments acquires a licensed investment and asset management firm in the Kingdom of Saudi Arabia

GII’s fully-fledged investment licence in the Kingdom, under the name Gulf International Investment Company, creates new opportunities to expand its business in the country through investments in leading local companies, and fostering exciting new investment and asset management partnerships from its Riyadh office. ​ Riyadh: The planned expansion of Gulf Islamic Investments (GII) across the Kingdom of Saudi Arabia has gained significant momentum with the acquisition of a Saudi Capital Market Authority (CMA) licensed entity. GII operations in Saudi Arabia will include corporate finance advisory, investment fund and asset management, private equity and structured finance. Its regulatory licences permit dealing as principal, agent and underwriter, arranging and advising of financial offerings, and managing ......read more

UiPath Announces Investments in Saudi Arabia, Including First Saudi School of Automation and New Office Location in Riyadh

CEO Rob Enslin delivers a keynote address at LEAP 2024 UiPath Business Automation Platform to showcase leading AI and automation innovations in Hall 2A at booth H2.T28 NEW YORK and Riyadh, Saudi Arabia, March 4, 2024 – UiPath (NYSE: PATH), a leading enterprise automation and AI software company, today announced at LEAP 2024 its commitment to supporting digital transformation and workforce upskilling via modern AI and automation technologies in Saudi Arabia with new investments in the Kingdom. The UiPath Business Automation Platform connects people, technology, and processes in one integrated platform to further human achievement, advance innovation, and create more efficient ways of working. “AI and automation can help unlock our nearly limitless potential as humans. UiPath strives to accelerate human achievement by ......read more

ROYAL COMMISSION FOR ALULA HOSTS INAUGURAL SUPPLY CHAIN FORUM TO BOOST PARTNERSHIP NETWORK, EXPLORE NEW PROJECTS, AND SUPPORT INVESTMENT OPPORTUNITIES

RCU engaged with representatives from sectors including construction, urban regeneration, economic development, and more to discuss capacity building and growing supply chain efficiency Leading contractors explored opportunities for future development projects, to share interest in bidding for upcoming tenders, and to engage with RCU as a partner of choice     AlUla, Saudi Arabia, 1 March 2024: The Royal Commission for AlUla (RCU) hosted leading contractors at its first-ever Supply Chain Forum, held at Riyadh’s Fairmont Hotel on 29th February.   The inaugural event was an opportunity to become part of RCU’s network of partners in diverse sectors, including construction, urban development, economic regeneration, and more, while helping to establish AlUla as the premier destination for ......read more

Introducing the first global campaign for AlUla – Forever Revitalising

● Launching on 29 February 2024, Forever Revitalising encapsulates the essence of AlUla  ● More than a traditional destination marketing campaign, the creative communicates the purpose-driven investment in AlUla  ● The data-driven, digital-first activity debuts across nine source markets in six languages 4pm KSA, February 2024, AlUla, Saudi Arabia - The ancient oasis city in the northwest of Saudi Arabia, is set to embark on an exciting journey with the milestone launch of its inaugural global brand campaign, Forever Revitalising. Launching on 29 February 2024, the Forever Revitalising campaign encapsulates the essence of AlUla, presenting a refreshing and authentic perspective crafted to captivate travellers worldwide. With the ambition to be more than a traditional destination marketing campaign, the ......read more

Saudi Arabia – Ejari's Sharia-Compliant Rental Platform Empowers Saudi Market.

Ejari has proudly announced the receipt of Sharia-compliant certification for its Rent Now, Pay Later platform in Saudi Arabia. This platform caters to the rental community, offering a rent-now-pay-later service to Saudi Arabia $20bn+ rental market where more than 70% of rentals are paid on an annual or bi-annual basis, offering tenants the convenience of flexible payment options. Since launching about 6 months ago they've received financing applications exceeding $16m. The significance of housing and housing finance in the development of Saudi Arabia's economy cannot be overstated, particularly in light of Vision2030. The Housing Program has been instrumental in pioneering various initiatives aimed at creating a vibrant environment for citizens, with a particular focus on boosting private sector investment to achieve a 70% ......read more

LEAP 2024 Spotlight to Illuminate ‘Women in Tech'

Major uptick in female participation in Saudi Arabia’s tech mega event as dedicated program features high-level content, investment, mentorship & networking opportunities Women comprise almost a third of powerful speaker line up at LEAP 2024 Riyadh, Kingdom of Saudi Arabia – 22 February 2024: LEAP 2024, the world’s most attended technology event, will spotlight pioneering women in the global technology industry when the event’s third edition descends on Riyadh Exhibition and Convention Centre in the capital’s Malham district from March 4-7.   Organised by Tahaluf - the strategic joint venture between Informa PLC, the Events Investment Fund (EIF), and the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), alongside the Ministry of Communications and Information ......read more

SNB Capital and Malaa Technologies Announce Partnership to Boost Fintech Services in Saudi Arabia

• SNB Capital signs MoU with fintech firm Malaa Technologies  • MOU to support the blooming fintech industry and enable financial inclusion in the Kingdom    RIYADH, Saudi Arabia: 15 February 2024 – Saudi Arabia’s largest asset manager, SNB Capital, has signed a Memorandum of Understanding (MoU) with fintech provider Malaa Technologies to provide easy, secure access to financial services and increase the flexibility of financial transactions.   The partnership, which was announced at SNB Capital’s inaugural Investment Tycoons Forum in Riyadh, will enable Malaa’s clients to access SNB Capital’s funds and products. Such access to advanced technology and data-driven insights will help guide clients toward an informed and optimal decision-making process for their ......read more

EMKAN ALARABIYA UNVEILS INNOVATIVE AUTOMATED SUKUK PLATFORM

Emkan Alarabiya, a pioneering fintech firm based in Saudi Arabia, has launched its automated platform designed to streamline Sukuk issuance processes. Today, the company proudly announces the certification of its platform's capability to issue Sukuk, marking a significant milestone in the realm of Sharia-compliant financing. Emkan Alarabiya's platform has undergone rigorous scrutiny, working closely with legal experts and Sharia scholars to automate Sukuk issuance processes while ensuring compliance with Islamic finance principles. Notably, the platform facilitates the issuance of Sukuks under the Murabaha modality. CEO Omar Radi noted the increasing importance of Sukuk issuance in today's financial landscape, citing rising demand and the instrument's Sharia-compliant nature. "Sukuk represents a powerful ......read more

SenseTime MEA Partners with Mawhiba Foundation to Empower Saudi Arabia's AI Talent

Jeddah: SenseTime MEA, a leader in artificial intelligence (AI) software and a Joint Venture with the Saudi Public Investment Fund (PIF), has entered into a memorandum of understanding (MoU) with the King Abdulaziz and His Companions Foundation for Giftedness and Creativity (Mawhiba) to nurture talented students, enhance their digital skills, and empower them to contribute to the future development of the Kingdom in the field of AI. This partnership demonstrates SenseTime MEA's commitment to fostering the skills of the next generation in AI, supporting local talents in advanced technology fields, and enriching the abilities of gifted students. By broadening their horizons and helping them understand global perspectives in AI, SenseTime MEA aims to enable them to contribute to the realization of the Kingdom's Vision ......read more

Leejam Sports Inaugurates Two New Fitness Clubs at the Headquarters of Saudi Awwal Bank

Riyadh, Saudi Arabia, February 11, 2024: Leejam Sports Company, the proud owner of the "Fitness Time" brand, has officially opened two fitness clubs at the new headquarters of Saudi Awwal Bank (SAB) in Alyasmin neighborhood of Riyadh. According to a five-year agreement with SAB, Leejam manages and operates two distinct fitness clubs under the name "SAB Gym," one for women and one for men, each tailored to meet the specific needs of its clientele.   Leejam Sports achieved exceptional success in the past year, ranking fifth globally in terms of market capitalization for fitness companies. Breaking records in the third quarter of 2023, with over 448,000 memberships, the company witnessed increased profits, continued expansion, and development. By the beginning of 2024, Leejam boasted 188 sports clubs and ......read more

Saudi Arabia – IBDA Real Estate platform creates Sharia compliant investment opportunities.

February 7th, 2024 - 8:00 AM: Saudi based fintech, IBDA Real Estate platform facilitating listing and investment opportunity in real-estate properties receives Shari’a certification from Shariyah Review Bureau (SRB) for its offerings. Waleed albawardi – Founder & CEO at IBDA Real Estate platform said “IBDA Real Estate platform provides a groundbreaking platform allowing property owners to list their properties for sale or opt for a unique usufruct right sale. Owners can now sell either a portion or the entirety of their property to a group of buyers or choose to retain ownership while selling the usufruct rights for immediate liquidity. This dual-service approach caters to the diverse financial needs of property owners and investors, setting a new standard for secure and Shari'a-compliant real estate ......read more

Aseer Investment Company launches operations to drive investment in the Aseer region

Riyadh, Saudi Arabia – 6 February 2024: Aseer Investment Company (AIC) has launched operations to support the transformation of the Aseer region into a year-round destination with a focus on tourism, sports and wellness. The company is fully owned by the Public Investment Fund (PIF) and was announced in December 2022 to stimulate local and international investment in the region. ​ ​AIC will unlock a wide array of investment opportunities across 12 sectors including hospitality, entertainment, education, F&B, technology and retail. It aims to create mutually beneficial partnerships with international investors as well as public and private sector entities.​ The company’s vision is to be a regional investment leader with an ability to foster opportunities for everyone and to ......read more

Other Top Stories from Banking and Investments
 
Gilead Sciences Appoints Dr. Eid Mansour as the New General Manager in Saudi Arabia…

Saudi Arabia, 02 February, 2024:  Gilead Sciences, a leading biopharmaceutical company, is proud to announce the appointment of Dr. Eid Mansour, a seasoned professional with a remarkable track record, as General Manager (GM), Saudi Arabia to lead the company’s operations and growth in the Kingdom. Dr. Mansour is a Medical Doctor and brings eighteen years of experience in the ......read more

Saudia Cements Position as Trailblazer, becoming Kingdom's first Airline customer to adopt RISE ...…

As part of wider transformation strategy, Saudi Arabia’s national flag carrier will partner with SAP to accelerate move to cloud, storing data on Google’s Dammam Cloud Region  Senior executives attending the signing ceremony included (center) Fahd Nawwab, Vice President, SAP KSA and Abdulgader Attiah, Chief Data and Technology Officer of Saudia Group (both seated); and ......read more

Henkel and Al Dawaa Pharmacies Mark Growing Partnership with Coloration Event in Saudi Arabia…

Dammam, Saudi Arabia, 29 January 2024: Henkel’s brand, Palette and Al Dawaa Pharmacies commemorated their growing collaboration with an exclusive coloration event at one of Al Dawaa's flagship stores in Khobar, Kingdom of Saudi Arabia. The event marked the successful partnership, centered around Henkel’s renowned Schwarzkopf brand, Palette, an esteemed hair color expert trusted by ......read more

“Careem” Launches “Madinah Tour” Service to support Tourism in Partnership with Madinah Development ...…

 The newly launched service is available in Madinah, and provides a reliable and seamless commuting experience to visit 12 of the most important historical and touristic sites.  This comes as part of Careem's ongoing commitment to bring solutions that enhance the overall commuting experience, and aims to support local tourism and achieve Saudi Vision 2030 ......read more

Almana Wins First Place in Beneficiary Experience Satisfaction Rate for 2023…

10 January 2024, Dammam, KSA – In a significant achievement for person-centered care, Almana Group of Hospitals has been recognized as the leading private sector hospital with the highest Beneficiary Experience Satisfaction Rate for 2023 in the Eastern Province. This prestigious honor was bestowed during the "Patient Experience Coordinators 2024" Forum, hosted by the General ......read more

Saudi Premium Residency Center Launches Five New Products to Attract and Retain Talents, Investors ...…

Riyadh, Saudi Arabia. 10 January 2024– In line with the vision of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister of the Kingdom of Saudi Arabia, His Excellency Dr. Majid bin Abdullah Alkassabi, Chairman of the Board of the Premium Residency Center, has announced the launch of five new Premium Residency products. These products align with ......read more

Salam Takes the Lead in Saudi Arabia's Fixed Broadband Race…

Jeddah:  Opensignal, the global provider of independent insights into the connectivity experiences and decisions of consumers, has released its latest report on the fixed broadband experience in Saudi Arabia. The report reveals that Salam leads the pack across all five key metrics of user experience, delivering the fastest downloads, smoothest streaming, and most consistent quality for ......read more

SPARK and Bin Saedan Launch Two Key Residential and Commercial Projects Valued at $65 million…

• SPARK and Affordable House Company (part of Bin Saedan Group) launch two key projects in the residential and commercial areas valued at $65 million and spread over 50,000 square meters • The groundbreaking ceremony took place announcing the construction of the state-of-the-art 459 residential apartment complex  • In addition, SPARK signed a lease agreement with ......read more

ACWA Power joins Japanese think Tank, Boosting Research Capabilities…

Membership will allow Riyadh-based utilities supplier to develop its green hydrogen and renewable energy capabilities  Riyadh, Kingdom of Saudi Arabia: – 25 December 2023: Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, has become a full member of the Institute of Energy ......read more

Deloitte Partners with Fintech Saudi to Launch Makken Program…

Riyadh, Saudi Arabia, 21 December 2023 – Deloitte, the leading global professional services firm, is partnering with Fintech Saudi to foster the growth of emerging companies in Saudi Arabia’s financial technology sector through the Makken Program. Saudi Fintech is an initiative by the Saudi Central Bank in collaboration with the Capital Market Authority, aiming to transform Saudi ......read more

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