Saudi Vision 2030 calls for urban development that will last

The Big 5 Saudi show will run from March 5-8.
Updated 24 February 2018

Saudi Vision 2030 calls for urban development that will last

Saudi Vision 2030 adds sustainability to the agenda as it pushes to expand urban development by including prolonged asset lifecycle, lower utility bills, and infrastructure to promote physical activity.
Shedding light on the role of sustainable building design in Saudi Arabia’s booming urban landscape, US Green Building Council Faculty Regional Manager, Mohammed S. Al-Surf, said: “Applying these building methods to residential projects is a win-win case where all stakeholders benefit from the economic, environmental and social pillars of sustainability; owners benefit by reducing the cost of running the building, the occupants will feel healthier, and the community will benefit from engaging together.”
Al-Surf will further explore the KSA Green Building movement at The Big 5 Saudi show next month at the Jeddah Center for Forums & Events; the event will run from March 5-8.
The show will offer 54 free talks on general construction, project management, sustainability, and architecture and design.
Omar Al-Touqi, senior civil engineer at the University of Jeddah, and a speaker on Vision 2030’s environmental dimensions at The Big 5 Saudi, pointed out initial cost as a current challenge with the green concept.
“Cost is particularly a challenge when choosing the right material and resources; however, we should understand the value of buildings which truly consider standards like Leadership in Energy and Environmental Design (LEED). Sustainable buildings will be highly valued with capital appreciation and gradual reduction of cost at the end.”
CEO and partner of ENTEC Environmental Technology, Dina Al-Nahd, said: “The private sector is now aware of the need to build this way — they know that in this millennium you have to consider the sustainable concept; that’s energy efficiency, water efficiency and reuse, and solid waste management.”
She revealed the top mega projects considering sustainable building design in Saudi Arabia today: The Red Sea tourism project, NEOM in Tabuk, and Qidiya — Saudi’s largest entertainment city.
“Vision 2030 targets the contribution to GDP of real estate alone to grow from five percent to 10 percent by the deadline; in response there are over 3,300 urban projects underway, representing 70 percent of all Saudi construction. There are an incredible 4,700 construction projects active in the Kingdom today,” said Roni El-Haddad, event director for The Big 5 Saudi.

Emirates NBD opens branch in Alkhobar

Updated 20 September 2018

Emirates NBD opens branch in Alkhobar

Emirates NBD, a banking group in the Middle East, has expanded its presence in the Kingdom with the opening of its first branch in Alkhobar in the Eastern Province. Emirates NBD now covers three key regions in Saudi Arabia with a presence in Riyadh, Jeddah and Alkhobar. 

As Saudi Arabia progresses plans for economic reform, in line with its Vision 2030, Emirates NBD’s presence builds on the growing economic and trade ties between Saudi Arabia and the UAE. Following the establishment of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia recently announced The Strategy of Resolve, a joint vision for economic development through 44 joint strategic projects within a five-year time frame. 

UAE-based Emirates NBD is the first non-Saudi bank with a significant branch network across the Kingdom. The bank offers retail, private, business and wholesale banking across its network of three full-fledged branches in the Kingdom, in addition to corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.

Emirates NBD also operates in Egypt, India, Singapore, and the UK with representative offices in China and Indonesia. 

“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC region’s largest and most dynamic economy,” said Hesham Abdulla Al-Qassim, vice chairman and managing director of Emirates NBD. 

“Saudi Arabia is in the midst of a landmark economic transformation and we look forward to continuing to support Saudi individuals and businesses looking for a trusted banking partner.” 

Emirates NBD recently renewed its partnership with the Kingdom’s Kafalah Program, which aims to promote financing to small and medium enterprises (SMEs) within the country.

Loai Abduljawad, CEO of Emirates NBD KSA, said: “Emirates NBD’s expanded network strengthens our offering to individuals and corporates in Saudi Arabia looking to invest and trade across the MENA region and beyond. Our superior value proposition, built on the bank’s unique ‘high tech + high touch’ philosophy of offering customers a modern banking experience complemented by personalized advisory services, will enable us to strengthen customer acquisition in the Kingdom as we continue to support the country’s long-term growth and development goals, as outlined in Saudi Vision 2030.” 

Emirates NBD is a leading banking group in the region. As of June 30, 2018, its total assets were 477.5 billion dirhams, ($130 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 percent of all financial transactions and requests conducted outside of its branches. The bank was declared the “Most Innovative Financial Services Organization of the Year” at the 2017 BAI Global Innovation Awards.