Wallan Trading, Skop partner for car rental app

Skop Holding Group recently honored Mike Song, head of Middle East and Africa region at Hyundai Motor Company.
Updated 29 October 2018

Wallan Trading, Skop partner for car rental app

Wallan Trading Company, the official distributor of Hyundai in Saudi Arabia’s central region, has signed a deal with Skop Holding Group to use its IDrive car-sharing platform.

Wallan will use the opportunity to expand its rental services in and around Riyadh using the application, promoted as the attractive and affordable alternative to vehicle ownership or rental.

“Hyundai is delighted to make its cars available on IDrive via its partner Wallan Trading,” said Mike Song, head of Middle East and Africa region at Hyundai Motor Company.

“Skop’s innovative platform will enable many more people to experience the performance, comfort, and safety of Hyundai motors and hopefully forge a lasting affinity with the marque.”

IDrive is aimed at people who wish to lease a vehicle for as little as a few hours. Customers are only billed for the duration of use and distance traveled, and car sharing is also offered, making the service different from those of traditional vehicle rental providers.

Rental cars are parked available in designated parking areas, conveniently sited in locations such as conference centers, markets, and malls. All IDrive vehicles are supplied in immaculate condition, with a full fuel tank and comprehensive insurance. 

Skop offers a diverse range of models, with a choice of numerous subtypes. The application also features an authorization service directly linked to Saudi Arabia’s Tamm system, a government initiative that provides verified data about vehicles’ histories to their owners.

Skop Holding Group organized a launch event for IDrive, which was attended by public and private sector officials as well as partners. At the gathering, the company honored Song for Hyundai’s support in preparing the platform for its release onto the Saudi market.

A pilot version of IDrive was launched in the Kingdom last May, and it will be officially rolled out in large cities later this year before being extended to smaller conurbations and governorates.

Wallan Trading Company Chairman Fahad bin Saad Al-Wallan said: “We are constantly trying to develop our services. This agreement confirms that we are in line with our long-term strategic plans to develop our business, especially at the digital service level.” The agreement was signed in the presence of Al-Wallan and Skop Holding Group Chairman Tarek bin Fahad Al-Dahmash. Other senior executives who witnessed the occasion included Ali bin Abdul Mohsen Al-Fulaij, Wallan director general of car rentals; and Dr. Mohamed bin Abdo Saeed Al-Moghalis, Skop’s vice president. 

Dr. Al-Moghalis detailed the IDrive application’s functions and features, emphasizing its ability to spare customers the time and expense of visiting car rental offices. 


SAGIA, Xylem ink $50m MoU to advance water security

Updated 05 December 2019

SAGIA, Xylem ink $50m MoU to advance water security

Water technology firm Xylem has signed an MoU with the Saudi Arabian General Investment Authority (SAGIA), representing an investment of $50 million. The agreement aims to expand Xylem’s manufacturing footprint into the Kingdom, and to better serve its portfolio of customers in Saudi Arabia and across the region.

Under the MoU, Xylem will work with SAGIA to develop and localize advanced water and wastewater products and technologies to address water challenges in Saudi Arabia, as well as increase its footprint of service points and rental fleets across the Kingdom. A core objective of the MoU is to accelerate adoption of digital water solutions and optimize utility networks across the Kingdom.

The proposed multimillion-dollar investment will not only help build a vibrant local supply chain, but also see Xylem bringing additional commercial opportunities into the Kingdom, with the wider aim of improving water solutions locally. The agreement is in line with the goals of Saudi Vision 2030 to promote economic diversification through investments in localization that will also contribute to the export of “Made in Saudi” products across the world.

The MoU was signed on the sidelines of the Future Investment Initiative (FII), commonly known as the “Davos in the Desert,” by Ibrahim A. Al-Omar, governor of SAGIA, and Steven Leung, senior vice president and president, emerging markets of Xylem, in the presence of senior officials of both entities and Frank Ackland, managing director Xylem Middle East.

Al-Omar said: “As Saudi Arabia welcomes investors and decision-makers from across the globe to this annual global investment platform, the agreements exchanged here reflect the strength and diversity of the economy. Under Saudi Vision 2030, Saudi Arabia is undergoing an ambitious program of economic reform, and the world is taking notice. This month, Saudi Arabia climbed 30 places in the World Bank’s Doing Business 2020 report, becoming the most improved economy globally. The indicators are
clear: Saudi Arabia is not only open for business, it’s the economy of the future.”

Leung added: “As Xylem continues to lead the water sector’s digital transformation globally, this MoU presents an opportunity to leverage our market-leading portfolio and application expertise to advance water security in Saudi Arabia. Through our investment of $50 million, and with our strong presence in Saudi Arabia, backed by our dedicated office and team, we are committed to creating in-Kingdom value through our investments and partnerships. We are thankful to SAGIA for the opportunity to directly contribute our expertise to the development vision of the leadership, as the Kingdom embarks on its ambitious transformation program.”