Saudi HVACR sector growth in line with Vision 2030

The HVACR Expo Saudi 2019 hosted industry leaders from 14 countries — Saudi Arabia, the UAE, Turkey, China, Italy, the US, Kuwait, Malaysia, Singapore, Egypt, France, Belgium, South Korea and the UK — to showcase the industry’s most innovative solutions. (Photo/Supplied)
Updated 05 February 2019

Saudi HVACR sector growth in line with Vision 2030

This year’s HVACR Expo Saudi has transformed Riyadh into a hub for the HVACR sector in the Middle East by bringing together several local, regional and international suppliers and manufacturers to support the National Transformation Program 2020 and Vision 2030, organizers of the exhibition said.

According to the HVACR Expo’s report, the projected annual compound growth rate will peak at 13.11 percent by 2020, while the share of the Saudi market is projected to be 2 percent of the entire global market share. 

More than 85 suppliers of heating, ventilation, air-conditioning and refrigeration products participated in the fourth edition of the exhibition, which took place recently. The event hosted industry leaders from 14 countries — Saudi Arabia, the UAE, Turkey, China, Italy, the US, Kuwait, Malaysia, Singapore, Egypt, France, Belgium, South Korea and the UK — to showcase the industry’s most innovative solutions.

The HVACR Expo 2019 came with the support of the Riyadh Chamber of Commerce and Industry, the Saudi Council of Engineers, the Saudi Standards, Metrology and Quality Organization, and the GCC Standardization Organization. The expected number of visitors at the exhibition was more than 6,500 visitors.

Al-Salem Johnson Controls (YORK) showcased its latest innovations, including: YORK’s magnetic-bearing chiller, SABROE industrial refrigeration chillers and YORK’s Japanese-made variable refrigerant flow systems (VRF). Additionally, the company exhibited chiller plant controls solutions and the building management system (BMS).

In line with its commitment to the localization of manufacturing, the company offered several of its Saudi-made products, manufactured at YORK’s factory in Jeddah. This included the multi-fan air handling units and the fan coil units, which are considered to be the optimum solution to ensure indoor air quality and purity in different facilities, especially in the health care and hospitality sectors. 

CEO of Al-Salem Johnson Controls Dr. Mohanad Al-Shaikh said that such exhibitions are an opportunity to introduce the latest HVACR solutions and systems, which will contribute to reducing energy consumption, while increasing cooling and operational efficiency. 

“Al-Salem Johnson Controls (YORK) is keen to play a leading role in achieving the Kingdom’s vision of a sustainable economy and diversification of its resources, and is seeking to harness its vast expertise in creating intelligent solutions for heating, ventilation, air-conditioning and refrigeration,” Al-Shaikh said. 

He highlighted the importance of supporting the localization of manufacturing, pointing out the company’s efforts to transfer the latest HVACR technologies for local manufacturing, while maintaining the specifications, quality and standards set by YORK International. 

The locally manufactured products are not only distributed in the Saudi market, but a wide range of the products are exported to the GCC, Asian and African markets.

Top CEO Conference & Awards wraps up in Bahrain

Updated 17 April 2019

Top CEO Conference & Awards wraps up in Bahrain

The Top CEO Conference & Awards 2019, organized by TRENDS magazine — Mediaquest and international business school INSEAD, has concluded at the Al-Areen Palace and Spa in Bahrain. The event, held on Thursday, included seven key panel discussions under the theme “Growth in a Volatile Future” as well as the Top CEO Awards 2019 ceremony, which recognized the region’s most successful and trendsetting CEOs from more than 700 companies listed on GCC stock exchanges.

Top business leaders and more than 30 speakers from across the GCC shed light on the Middle East’s dynamic but volatile region and the burning issues facing the corporate world today. This year’s theme focused on a score of relevant issues, such as oil price fluctuations, tech disruptions, armed and political schisms that pose new risks, and opportunities. Speakers such as renowned economist Professor Nouriel Roubini provided growth solutions and road maps for businesses in the GCC region.

Alexandre Hawari, CEO of Mediaquest, said: “In its fifth edition, the Top CEO Conference & Awards fully encapsulated the theme of ‘Growth in a Volatile Future’ by acknowledging and exploring the growth transformation that the region is undergoing through digitalization and the fourth industrial revolution amid geopolitical tensions, looming trade wars and a rapidly evolving business environment. Building on the huge success of the previous years, the Top CEO Awards 2019 recognized CEOs and companies who have raised the bar by navigating challenges, implementing new strategies, and have demonstrated unquestionable growth, profitability and excellence in corporate governance.”

The conference kicked off with an opening keynote from Jassim Al-Seddiqi, CEO of the Abu Dhabi Financial Group and chairman of GFH Financial Group, who delved into the potential of transforming the region into a fintech hub and the importance of jumping on the digital bandwagon. 

The prime panel discussion on the “Future of Growth Amid Volatility” brought together five CEOs who explored methods to create future-proof strategies that can not only tackle challenges but also boost growth in a tough geopolitical and economic climate. 

Hisham Al-Rayes, CEO and board member of the GFH Financial Group, said: “Investing in the future in areas such as fintech, education and technology, the foundations for strong, enduring knowledge-based economies, is a priority for the group and the governments of the region in which we invest.”

“The Blockchain Opportunity” and “The Human Factor and Tech Innovation” panels brought together industry experts from Facebook, the Bahrain FinTech Bay and King Abdul Aziz University. 

“The Future of Women’s Business Leadership” panel discussed positive strides taken by GCC governments and businesses in leveling the playing field for women professionals.