SFDA conference draws 200 companies, 20,000 visitors

The event, which ran from Sept. 30 until Oct. 2 at the Riyadh International Convention & Exhibition center, attracted 20,000 visitors from 35 countries.
Updated 05 October 2019

SFDA conference draws 200 companies, 20,000 visitors

The third Saudi Food and Drug Authority (SFDA) Annual Conference and Exhibition 2019 concluded recently. The event was held under the sponsorship of Minister of Health Dr. Tawfiq bin Fawzan Al-Rabiah and SFDA CEO Dr. Hisham Al-Jadhey. 

More than 200 companies and 80 international exhibitors representing a total of 3,500 brands participated in the exhibition. This included the participation of 20 countries and 220 investors from countries such as Denmark, Pakistan, India, Jordan, Bangladesh, Australia and Sudan.

The event, which ran from Sept. 30 until Oct. 2 at the Riyadh International Convention & Exhibition center, attracted 20,000 visitors from 35 countries. 

The conference presented 68 scientific workshops in addition to discussion sessions, during which 120 speakers specializing in different disciplines participated.

Al-Jadhey said that the scientific program presented this year aims to activate the role of the consumer in protecting society, in line with the objectives of the SFDA.

Mazen Al-Ismail, chairman of the organizing committee, credited the partnership between the public and private sectors for the success of the event.

“What distinguishes this year’s conference from the previous years is the huge media coverage, which in turn contributes to its marketing globally, and in increasing the number of local and international participation,” he added.

UAQ, Alinma close real estate fund at $4.5bn

Updated 07 December 2019

UAQ, Alinma close real estate fund at $4.5bn

Umm Alqura Company for Development and Construction (UAQ) and Alinma Investment Company announced the successful completion of the launch of the Makkah Real Estate Development Funds, with an investment value exceeding SR17 billion ($4.5 billion). 

The funds are invested in seven hotel towers and two commercial complexes that will be developed within the King Abdul Aziz Road (KAAR) project in Makkah. It is one of the most significant developmental and urban development projects in the Makkah region. The project includes multiple options including housing and shopping, and provides easy mobility and means of transportation between the project facilities and the central area of the Holy Mosque.    

Yasser Abuateek, CEO of UAQ, said: “This strategic agreement is the first of several diverse investment activities designed to attract leading investment institutions. It confirms the appeal of investing in KAAR, an attractive destination for long-term investments, as well as the trust of the investment and financing community.

“This partnership also sheds light on the strength of Alinma Investment and its success in managing real estate funds, which makes it the ideal partner for implementing the project’s development and urban plan. The project aspires to become one of the modern landmarks in Makkah.”

Abuateek added: “By successfully attracting investments valued at SR17 billion, we will make progress in line with the execution plan for several diverse projects, especially since we have already reached several major milestones, including completion of the pouring and construction of all the concrete blocks for the Makkah Metro tunnels, while in addition we have completed nearly 50 percent of the bridges. Currently, we are working on completing all the unprecedented infrastructure projects that followed the demolition phase, which represent a transformation in the investment, development and preparation of the project’s lands, making it more attractive for development and creating new choices that help upgrade the quality of life for Makkah visitors and residents.”

Acting CEO of Alinma Investment Mazin bin Fawaz Baghdadi said: “We are very happy with the success of the Alinma Real Estate Development Funds together with our partner UAQ. This investment, with the large sum of capital, will play a major role in fulfilling the objectives of the finance sector, while our partnership will contribute to increasing the capacity to accommodate pilgrims and visitors through implementing urban developmental projects in the Makkah region.”

“The funds’ investment objective is to achieve long-term capital growth through the development of the superstructure in various parts of the King Abdul Aziz Road project in Makkah, which are: Five-star international hotels (Taj Hotel and Kempinski Hotel), four-star hotels (Hilton Embassy), three-star hotels (Hilton Garden Inn), apartments (Kempinski Residence), and two malls,” added Baghdadi.