Samsung partners with e-commerce website Wadi.com

Updated 29 July 2018

Samsung partners with e-commerce website Wadi.com

Samsung Electronics has signed a strategic partnership with Wadi.com, a leading e-commerce website. The new partnership anoints Wadi as one of Samsung’s official retail partners in the Kingdom, beginning July.
Wadi.com will be offering Samsung’s full range of smartphones and its accessories through its website. This partnership comes in line with Samsung’s efforts to facilitate the life of its customers and to make the purchasing of its phones in the Kingdom possible anywhere and anytime through the click of a button. Wadi.com ensures a secure website that allows safe purchasing online with an interactive and advanced platform.
Ismail Yoon, president of Samsung Electronics in the Kingdom, said: “We are very aware of the current changes that encourage customers to shop online in the Kingdom. That is why, we at Samsung, look forward to this partnership with Wadi.com as it allows our customers a secure and excellent platform to buy our products around the Kingdom.”
Pratik Gupta, cofounder and managing director of Wadi.com, said: “Wadi has always stood for original products and great customer experience. This partnership allows us to do even better by giving customers in Saudi Arabia direct access to original and latest products from Samsung at great prices.”


SRC signs SR250m refinancing deal with Bank Aljazira

Updated 25 min 19 sec ago

SRC signs SR250m refinancing deal with Bank Aljazira

The Saudi Real Estate Refinance Company (SRC), a subsidiary of the Public Investment Fund (PIF), announced that it has signed a mortgage portfolio acquisition agreement with Bank Aljazira, in the presence of Minister of Housing and Chairman of SRC Majed Al-Hogail.

SRC will refinance SR250 million ($66.7 million) of mortgage receivables with the bank, with subsequent anticipated transactions in the future under the MoU.

The agreement was signed by Fabrice Susini, CEO of SRC, and Nabil Al-Hoshan, CEO and managing director of Bank Aljazira, at a special ceremony held in Riyadh. 

Susini said: “Today’s agreement with Bank Aljazira reinforces our commitment to providing lenders with liquidity while developing innovative finance solutions, and in doing so we help our citizens to climb the housing ladder.” 

Portfolio acquisitions such as these will help us ensure that we are able to refinance at least around 10 percent of the market by the end of 2020, and 20 percent of the market by 2028.” 

Al-Hoshan said: “Since 2008, Bank Aljazira invested in the mortgage business and increasing its portfolio year on year which resulted in being one of the leaders in real estate finance market. We will continue our strong leadership in the real estate finance industry, and our commitment to customers is strengthened and improved by this transaction with SRC. I am especially proud that Bank Aljazira and SRC have joined hands to accelerate the mortgage ecosystem which will provide innovative solutions for the citizens.”