SNB honored for role in financing housing sector

SNB honored for role in financing housing sector
Majed Al-Ghamdi, CEO of retail banking at SNB, receives the award from Majed Al-Hogail, minister of municipal and rural affairs and housing.
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Updated 19 August 2021

SNB honored for role in financing housing sector

SNB honored for role in financing housing sector

Majed Al-Hogail, minister of municipal and rural affairs and housing, honored the Saudi National Bank (SNB) with the best financing entity award for residential units under construction, for the second consecutive quarter. The award recognizes the bank’s pioneering role in financing the housing sector and its distinguished financing solutions aimed at enabling citizens to own appropriate housing.
The award was presented during the Sakani Program Forum for the second quarter of 2021, which was held on Aug. 15, in Riyadh. The event was attended by the success partners of the Sakani program, including developers and real estate financiers. Sakani is a government program of the Ministry of Housing to raise the percentage of ownership of the first home for citizens in the Kingdom.
The forum also witnessed the signing of an electronic financing agreement for the beneficiaries of the Sakani program, between SNB and the National Housing Company.
The new agreement enables the beneficiaries of the Sakani program and the Real Estate Development Fund to access the services of the Sakani platform, through the “Aqar AlAhli” application, allowing them to apply for financing electronically, complete all procedures and check the status of the request without the need to visit the branch. The move is in line with joint efforts to facilitate the electronic ownership procedures.
The agreement was signed by Mohammed Al-Bati, CEO of the National Housing Company, and Majed Al-Ghamdi, CEO of retail banking at SNB, in the presence of Al-Hogail.
Al-Bati said this agreement is an extension of the strategic partnership that connects the company with SNB and financing agencies with the aim of facilitating and developing electronic financing. The agreement will be an addition to the available facilities enabling citizens to own their first home, and a contribution to the goals of the Kingdom’s Vision 2030, helping to increase home ownership among citizens, he added.
Al-Ghamdi, meanwhile, expressed his gratitude to Al-Hogail for granting SNB the financing entity award for residential units under construction for the second consecutive time.

He highlighted SNB’s keenness to support the strategic plan of the Ministry of Municipal, Rural Affairs and Housing and the Real Estate Development Fund through its contributions to initiatives and programs related to the development of the real estate and housing sector in line with the Kingdom’s vision.
The agreement is part of the ongoing partnership and joint initiatives with the programs of the Ministry of Municipal, Rural Affairs and Housing aimed at providing multiple financing and housing options, confirming the bank’s leadership in providing innovative electronic solutions. It is noteworthy that the SNB’s housing and real estate financing portfolio witnessed significant growth during the first half of 2021.


Huawei launches P50 Series featuring innovative camera

Huawei launches P50 Series featuring innovative camera
Updated 27 June 2022

Huawei launches P50 Series featuring innovative camera

Huawei launches P50 Series featuring innovative camera

Among Huawei’s smartphones, the Huawei P-Series, which in 2021 achieved a total shipment of 100-million-unit mark, is known for having outstanding camera features and exquisite designs. The P Series has always maintained a commitment to quality, style and photography, with each product representing the peak of mobile imagery innovation at the time and earning a place as a true classic in smartphone photography.

The Huawei P50 Series embodies the company’s own brand of imaging technology, featuring an innovative Dual-Matrix camera design that includes a powerful main camera matrix and zoom camera matrix. The lineup is also the first in the industry to support Huawei XD Optics, which allow it to go beyond the limits of physics. Computational photography is also improved, empowering the camera system to deliver true-to-life colors and supporting super high-definition and dynamic range capture, as well as a more powerful ultra snapshot functionality.

The Dual Matrix camera system of P50 Series balances both form and function. The P50 Pro employs computational photography technologies, such as the Huawei XD Optics and Huawei XD Fusion Pro image engines that transcend physical limitations. The XD Fusion Pro Engine includes a True-Chroma Image Engine, new Super Color Filter System and super HDR, enabling the phone to deliver more realistic colors, ultra-clear image quality and high dynamic range. The image processing capabilities added to the optical imaging system can correct the optical differentials and restore the details in images by up to 25 percent. Hardware is integrated with Huawei XD Optics in the P50 resulting in high-resolution images that are brighter and clearer with more details.

The P50 Pro features an expansive 6.6-inch True-Chroma Display with a 3D curved screen and a small single punch hole camera on the top that supports the full P3 color gamut and HDR. The display has a refresh rate of 120 Hz to provide a smooth user experience for users. Meanwhile, the P50 features a large 6.5-inch True-Chroma Display that supports 1.07 billion colors allowing it to produce colors with accuracy comparable to professional reference displays. Both handsets are IP68 certified for dust and water resistance, and they both sport dual stereo speakers for an immersive audio experience.

The P50 Pro boasts a 4,360 mAh battery and supports 66 W Huawei SuperCharge and 50 W Wireless Huawei SuperCharge. On the other hand, the Huawei P50 packs a 4100 mAh battery into a compact design and it supports 66 W Huawei SuperCharge for swift recharging.

Controlling multiple devices at once is as easy as controlling just one single device, thanks to the Super Device features. The Device+ tab in Control Panel enables users to easily control or set up multi-device collaboration with other devices, such as the Huawei Vision, FreeBuds, MatePad and MateBook.

The Huawei P50 is now available in Saudi Arabia at a price of SR2,999 ($800) from Huawei’s online platforms and select retailers.


LuLu festival offers exclusive deals on smartphones

LuLu festival offers exclusive deals on smartphones
Updated 27 June 2022

LuLu festival offers exclusive deals on smartphones

LuLu festival offers exclusive deals on smartphones

LuLu Hypermarket’s “Let’s Connect” festival featuring attractive deals on smart devices and accessories, was inaugurated on June 24 at Atyaf Mall in Riyadh by Saad Al-Dawi, a popular tech influencer in the Kingdom. The much-awaited promotion is being held at all LuLu Hypermarket branches across the Kingdom and offers the best deals on premium brands of smartphones and accessories, including exclusive discounts, flash deals as well as unique online offers. 

“Our popular ‘Let’s Connect’ digital goods festival comes just in time for summer as people look to update their phones, cameras and accessories for the summer break,” said Shehim Mohammed, director, LuLu Hypermarkets Saudi Arabia. “We have curated the best deals and products at the best prices to delight our shoppers. In this day and age, we cannot afford to let our connectivity get outdated — the latest products help us stay efficient.”

The promotion will run until July 5 in all stores across the Kingdom and online at www.luluhypermarket.com

With more than 230 stores operating worldwide, LuLu strives to provide the community with exclusive products at affordable prices. With the combination of high-quality offerings and an organized logistics system, LuLu remains to be the favorite shopping destination in the Kingdom when it comes to a broader selection of both local and international products.


Jewels of Emirates Show launches in Sharjah

Jewels of Emirates Show launches in Sharjah
Updated 27 June 2022

Jewels of Emirates Show launches in Sharjah

Jewels of Emirates Show launches in Sharjah

The third edition of the Jewels of the Emirates Show, organized by Expo Centre Sharjah, with the support of Sharjah Chamber of Commerce and Industry, is set to kick off on Thursday. The exhibition, which runs until July 3, is regarded as a distinct platform to support the gold and jewelry industry, with a presence of more than 20 designers and around 100 exhibitors from leading gold and jewelry brands.

The 8,000-square-meter exhibition will provide designers and participants with an excellent opportunity to showcase their talents and creativity, promote their latest innovations in gold and jewelry, develop their craft and marketing skills, achieve rewarding revenues, and increase their sales.

Saif Mohammed Al-Midfa, CEO of Expo Centre Sharjah, said: “The Emirati gold and jewelry industry is known for several competitive features that have propelled it to the forefront of the global gold and precious metals trade.”

Thus, the UAE now accounts for 11 percent of the world’s total gold exports, and the gold industry has grown significantly, according to World Gold Council data, which indicates a 36 percent increase in consumer demand for gold in the UAE in the first quarter of this year to 14.5 tons compared to 10.7 tons the previous year.”


Nayifat to streamline finances with Geidea’s payment solutions

Nayifat to streamline finances with Geidea’s payment solutions
Updated 27 June 2022

Nayifat to streamline finances with Geidea’s payment solutions

Nayifat to streamline finances with Geidea’s payment solutions

Geidea, a leading fintech company in Saudi Arabia, has entered into a strategic partnership with Nayifat, one of the pioneers in the Kingdom’s financing space. 

As part of the collaboration, Geidea will provide Nayifat’s customers with its full suite of point-of-sale solutions. This will empower merchants with the ability to accept payments via numerous methods, including contactless cards and wearable devices through Geidea’s PoS terminals and tap-on-phone solutions.

Additionally, merchants will benefit from a simplified repayments solution through Geidea’s PoS terminals. They will also be able to allocate payments toward utilities such as the rent or maintenance of their offices, through PoS terminals by automatically setting aside a percentage or amount of monthly revenue toward their payment obligations. The solution thus automates the entire process — making it seamless and secure.

Abdullah Alshowaier, chief business officer at Geidea, said: “As one of the most respected names in the financing sector, Nayifat has a longstanding reputation for providing innovative financing solutions to customers across the Kingdom. This partnership will enable us to bring our payment and e-commerce solutions to several people that use their services, and help their borrowers and SME customers take advantage of some of the latest technologies aimed at providing a seamless and convenient payment experience.” 

Abdulmohsen Alsowailem, managing director and CEO at Nayifat, said: “We are delighted to team up with Geidea, a market leader in payment solutions. This partnership will enable us to offer our SME customers a best-in-class experience whenever they make payments. The PoS financing product is definitely set to satisfy business needs allowing companies to streamline cash flows and finances, which is the key driver for Nayifat as we go an extra mile to raise the bar for structured finance product offering, to continuously support SMEs in line with Vision 2030.”


New low-cost Wizz Air flights connect Kingdom to Europe, UAE

New low-cost Wizz Air flights connect Kingdom to Europe, UAE
Updated 26 June 2022

New low-cost Wizz Air flights connect Kingdom to Europe, UAE

New low-cost Wizz Air flights connect Kingdom to Europe, UAE

European ultra-low-cost airline Wizz Air has announced new routes between Dammam and Rome, Vienna and Abu Dhabi. The Abu Dhabi route will be operated by Wizz Air Abu Dhabi, Wizz Air’s joint venture airline with ADQ. Launching in September, the new destinations are the first step toward the airline’s growing presence in the Kingdom, which will provide affordable, hassle-free, point-to-point travel for tourists and residents in the Kingdom, Europe and the UAE, strengthening global connectivity.

Tickets for all routes are already on sale on wizzair.com and the airline’s mobile app, with fares starting from 24.99 euros ($26).

Last month, Wizz Air signed a memorandum of understanding with the Saudi Ministry of Investment, supported by the Saudi National Air Connectivity Programme (a Ministry of Tourism initiative), to support the development of the Saudi tourism sector. The MoU reflects a shared vision between the parties on the potential Wizz Air could bring to the Kingdom to stimulate tourist demand, thereby making a significant contribution to Saudi Arabia’s planned growth. 

The Abu Dhabi route will be operated by Wizz Air Abu Dhabi, Wizz Air’s joint venture airline with ADQ.

The new destinations support the growing Saudi tourism sector, aligning with Vision 2030, a strategic and ambitious vision to triple passenger traffic in the Kingdom by 2030.

Robert Carey, president of Wizz Air, said: “Saudi Arabia is a very exciting market and our expansion will bring ultra-low cost travel to the Kingdom. Our regular flights to Dammam will provide year-round sun for tourists, and provide a mix of destinations for residents of the Kingdom. We want to thank our partners for their support during the expansion, especially the Air Travel Connectivity Program, the Ministry of Investment, GACA, the Dammam Airport, and the government of Saudi Arabia. The recently signed MoU demonstrates our commitment to supporting travelers to and from Saudi by bringing in a new era of air travel with our ultra-low fares, point-to-point network, and high-quality onboard service.”

Khalil Lamrabet, CEO of the Air Connectivity Programme, said: “We are delighted to have been able to work with both Wizz Air and Dammam Airport to grow traffic, in particular inbound tourism, from key European markets into the Kingdom of Saudi Arabia.”

Fahd bin Sulaiman Al-Harbi, CEO of Dammam Airports Company, said: “We are very happy to welcome Wizz Air flights at King Fahd International Airport. Strengthening the global connectivity of the Kingdom is very important and Dammam Airport Company continues to develop new destinations to serve the citizens and residents of the Eastern Province. We are ready to welcome tourists and impress them with the beauty of Dammam ”