STC named title partner of first ever F1 race in Kingdom

STC named title partner of first ever F1 race in Kingdom
The agreement was signed by SAMF chairman Prince Khalid bin Sultan Al-Faisal, stc chairman Prince Mohammad bin Khalid Alfaisal, and stc Group CEO Olayan M. Alwetaid.
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Updated 06 October 2021

STC named title partner of first ever F1 race in Kingdom

STC named title partner of first ever F1 race in Kingdom

The Saudi Automobile and Motorcycle Federation has announced that Saudi Telecom Company will be the title partner of the first ever Formula 1 Saudi Arabian Grand Prix, which will take place on the brand-new Jeddah Corniche Circuit on the weekend of Dec. 3-5. The agreement was signed by Prince Khalid bin Sultan Al-Abdullah Al-Faisal, chairman of the SAMF; Prince Mohammad bin Khalid Alabdullah Alfaisal, chairman of stc board of directors; and stc Group CEO Olayan M. Alwetaid.

In addition to its inclusion on the event title, the terms of the agreement will see the stc logo be heavily displayed throughout the race weekend. The stc brand is set to feature prominently on all global broadcasts as well as on the winners’ trophies and across the Jeddah Corniche Circuit — the newest, longest and fastest street circuit in the world — during the penultimate round of the 2021 FIA Formula One World Championship.

In turn, stc will support a variety of inspiring initiatives and events hosted across the Kingdom, as part of Vision 2030’s aim to inspire the nation to engage in increased sporting activities and to promote a healthier lifestyle for all.

SAMF chairman Prince Khalid said: “We are delighted to announce our partnership with the Saudi Telecom Company, a collaboration that will have a hugely significant and positive impact for both parties. Formula 1 has a global fanbase of more than 500 million fans with a cumulative television audience of 1.9 billion viewers, which represents an incredible opportunity for both parties to showcase the best of Saudi innovation and technology to the world.

“Indeed, the values of stc are perfectly aligned with those of the Formula 1 Saudi Arabian Grand Prix — progressive, pioneering and dedicated to making the future a better place for the people of Saudi Arabia, in line with the Kingdom’s Vision 2030 goals.”

stc chairman Prince Mohammad said: “An event of this stature in Jeddah affirms the great possibilities we can achieve as a Kingdom and represents great confidence of global organizations in our capability to stage world-class events. The participation of stc in the event is a testimony that as a digital enabler in the Kingdom, we have a significant role to play in contributing to the success of global events and enhancing the Kingdom’s image in the global markets.”

CEO of stc Group Alwateed said: “Formula 1 is of great interest to all segments of Saudi society, and is followed by millions from around the world. This is why we were keen to participate in this global event, which is important to the Kingdom of Saudi Arabia, and which will be supported by stc by providing the latest ICT solutions to enable everyone to enjoy an advanced digital and technological experience.”

Ben Pincus, director of commercial partnerships at Formula 1, said: “With just over two months to go until the first ever Saudi Arabian Grand Prix, excitement in the region is really starting to build and we cannot wait to race in Jeddah for the first time. We’re very happy to welcome stc to be a part of this historic event, and as one of the leading brands in the region, it is a natural fit to help enhance the experience for F1 fans in Saudi.”


Spain’s IE Business School to provide leadership training to stc employees

Spain’s IE Business School to provide leadership training to stc employees
Updated 24 May 2022

Spain’s IE Business School to provide leadership training to stc employees

Spain’s IE Business School to provide leadership training to stc employees

In line with its strategy to invest in national talents and prepare future leaders, stc has signed a three-year agreement with IE Business School, a top-ranked international business school located in Madrid, Spain. The agreement reflects stc’s commitment to the continuous development of its professionals and to ensure that its group of middle managers, specifically men and women who are pre-section managers, section managers and directors, are prepared for leadership positions.

The agreement’s signing ceremony was held at the stc Academy in Riyadh, in the presence of Ambassador of Spain Jorge Hevia Sierra; Dr. Moudhi Al-Jamea, vice president of stc and dean of stc Academy; and Santiago Iñiguez de Onzoño, president of IE University.

Commenting on the agreement, Al-Jamea said: “The stc Academy’s vision is to be the learning and innovation hub in the Kingdom and beyond, with the objective of enabling the stc Group to drive digital and cultural transformation. Our aim is to develop future leaders with strategic capabilities through innovative learning solutions and experiences.”

De Onzoño said: “This agreement between IE Business School and stc is expected to benefit more than 2,000 individuals. Furthermore, the impact will be highly personalized, with each leadership program of the agreement focused on the specific needs of stc middle management employees and based on the company’s leadership and core competencies.”


BMW Group uses sustainable paints made from bio-waste

BMW Group uses sustainable paints made from bio-waste
Updated 24 May 2022

BMW Group uses sustainable paints made from bio-waste

BMW Group uses sustainable paints made from bio-waste

BMW Group is using innovative technologies in its efforts to improve sustainability and taking advantage of new options to conserve resources and reduce emissions from painting bodywork.

The BMW Group is the first automotive manufacturer worldwide to use matte paints made from biomass instead of crude oil at its European plants. In addition to this, BMW Group Plants Leipzig and Rosslyn (South Africa) are also using sustainably produced corrosion protection. Renewable raw materials such as bio-waste or waste from sewage treatment plants serve as the starting material for the paints. The CO2 savings determined in a TÜV-certified process amount to more than 15,000 tons of CO2 emissions between now and 2030.

“By reducing our use of fossil raw materials, we can conserve natural resources and lower CO2 emissions at the same time. To achieve this, we are increasingly relying on sustainability innovations in our supplier network,” said Joachim Post, member of the board of management of BMW AG responsible for purchasing and supplier network. “Innovative paints based on renewable raw materials are an important step in this direction.”

BASF’s innovative production process makes it possible to replace petroleum-based precursors, such as naphtha, with renewable raw materials from organic waste, starting in the early stages of paint production. This not only reduces consumption of fossil resources, but also avoids the CO2 emissions associated with the production, transport and processing of crude oil.

The corrosion protection and matt paints used at BMW Group Plants Leipzig and Rosslyn are chemically identical to the paints previously used, with all the same properties as conventionally manufactured body coatings.

 


UAE proptech startup Stella Stays enters Saudi market

UAE proptech startup Stella Stays enters Saudi market
Updated 24 May 2022

UAE proptech startup Stella Stays enters Saudi market

UAE proptech startup Stella Stays enters Saudi market
  • The Stella Stays Riyadh Olaya Tower, which will open its door in June, will offer modern, fully equipped, tech-enabled apartments and hotel suites

Emirati proptech startup Stella Stays has announced its expansion into Saudi Arabia, introducing the first tech-enabled residential hospitality concept in the region.

The Stella Stays Riyadh Olaya Tower, which will open its door in June, will offer modern, fully equipped, tech-enabled apartments and hotel suites, a co-working space, and recreational and commercial amenities.

Stella Stays offers holidaymakers, business travelers, and residents a seamless hospitality experience, through leveraging ground-breaking technology and modern service. Guests and residents in Saudi Arabia will be able to use the Stella Stays app to navigate the entire journey — from booking and managing their stays, checking-in, controlling smart home systems, to ordering a wide range of guest services. Payment terms are flexible and can be made through various methods, including debit, credit cards and crypto payments.

Riyadh and Jeddah are strategic locations for Stella Stays’ expansion with more than $1 trillion in real estate and infrastructure developments underway. The Kingdom’s economy has fueled solid growth in residential construction with developers progressing a booming number of freehold apartment projects. Saudi Arabia also offers some of the most attractive setup costs in the real estate sector in the region.

Mohammed Al-Ghussein, chairman of Stella Stays, said: “We are extremely proud of our launch in Saudi Arabia, and we believe that our vision for the future of living and hospitality aligns perfectly with Vision 2030, in transforming the Kingdom into a world economic center with blossoming tourism and entertainment industries. The speed of national development is phenomenal, with around 730,000 homes to be added to Riyadh by 2030.

Stella Stays aims to disrupt the Kingdom’s hospitality sector landscape by partnering with real estate developers and property owners, such as Four Direction Development, to provide an innovative residential hospitality concept, with unmatched profitability potential.”

Four Direction Development has extensive experience in terms of investment returns since 2014 with several development projects around the Kingdom.

“We are excited to announce our agreement with Stella Stays in the Kingdom of Saudi Arabia that will boost both the hospitality and travel industries. Stella Stays offers us, the property owner, hands-off management with real-time analytics that delivers significantly more income and less operational costs compared to traditional hotel models,” said Abdullah Al-Majed, co-founder at Four Directions Development.

Stella Stays’ real estate portfolio growth strategy in Saudi Arabia is through master leases or profit-sharing agreements with property owners and developers. To create a global real estate pipeline, the company uses proprietary algorithms that identify, evaluate, and select the most desirable properties around the world, based on location, financial projection, and trends.

Mohannad Zikra, CEO and co-founder of Stella Stays, said: ‘‘The digital economy, COVID-19, and tech-savvy millennials are driving massive behavioral shifts related to how people live, travel and work. Business travel is also bouncing back and increasing significantly, requiring the flexibility for longer stays.

When Stella Stays began operations in 2019, the average length of stay was three nights per booking. Today, the average length of stays has increased to 28 nights per booking, with many repeat guests and permanent residents. Stella Stays continues to capture these opportunities by creating modern living spaces, futuristic technology and a highly profitable business model. Our occupancy is now higher than the pre-pandemic level, reaching 100 percent around events such as Expo 2020 Dubai and the Formula 1 Bahrain Grand Prix 2022.’’


ROSHN announces first integrated community in Jeddah, Al-Arous

ROSHN announces first integrated community in Jeddah, Al-Arous
Updated 24 May 2022

ROSHN announces first integrated community in Jeddah, Al-Arous

ROSHN announces first integrated community in Jeddah, Al-Arous
  • First integrated community in Jeddah will extend over approximately 4 million square meters

JEDDAH: ROSHN, Saudi Arabia’s national mixed-use developer, and a fully owned company by the Public Investment Fund, chaired by Crown Prince Mohammed bin Salman, announced its new venture, the Al-Arous community, during the Al-Hilal and Al-Ittihad match in Prince Mohammed bin Salman Cup Professional League.
The Al-Arous community will extend over approximately 4 million square meters, and includes more than 18,000 different residential units to suit all segments of society. Al-Arous is ROSHN’s second community, and part of a larger strategy of developing modern and vibrant neighborhoods in four regions and nine cities in the Kingdom.

The Al-Arous community will extend over approximately 4 million square meters, and includes more than 18,000 different residential units. (Supplied)


Al-Arous is located in north Jeddah, at a site that connects the population with the city’s main roads and public transportation network. The community will include parks, pedestrian walkways, bicycle paths, restaurants, cafes, schools and mosques, all of which will be developed to the highest standards. Like other ROSHN communities, Al-Arous is designed to offer a modern, open lifestyle, while preserving the Kingdom’s rich heritage and local urban designs. 
The development of ROSHN’s latest community is another important step toward the Vision 2030 ambitions of raising the quality of life of all Saudi citizens and boosting homeownership levels across the country.


Riyadh Luxury Week to spotlight watch & jewelry trends

Riyadh Luxury Week to spotlight watch & jewelry trends
Updated 23 May 2022

Riyadh Luxury Week to spotlight watch & jewelry trends

Riyadh Luxury Week to spotlight watch & jewelry trends

The second edition of Riyadh International Luxury Week will kick off today in the Saudi capital, with an exciting lineup of watch and jewelry brands showcasing their creations, as well as a host of interactive experiences for guests. The event will run from May 24-27.

As part of its wide-ranging program, and for the first time ever in Saudi Arabia, two specialized seminars supported by Sotheby’s and the National Committee for Precious Metals and Gemstones will be held. Open to the public, the talks will be run by international and regional experts who will touch on trends, creativity, and innovation within the watch and jewelry industry, presenting real-life cases of excellence and discussing industry directions and real-life case studies. 

The first seminar, titled “Jewelry Industry” will take place on Day 2 of Riyadh International Luxury Week on May 25, and will see Nezar Jamil Mukhtar, member of Saudi Arabia’s National Committee for Precious Metals and Gemstones and member of Gold and Jewelry Committee of Riyadh Chamber; Sophie Stevens, jewelry specialist at Sotheby’s; Nadine Attar, founder and designer of Nadine Jewellery; and Seema Haji, designer, blogger, and journalist, take to the stage. Topics will include an introduction to gemstones, traditional hand-drawing vs 3D jewelry design, e-commerce and conventional trading, how to start up a jewelry workshop, and introducing collections to international auction houses among others.

On May 26, Frederic Watrelot, watch specialist at Sotheby’s, and Khalid Al-Seif, watch collector and blogger, will host a talk on “Watchmaking and Collecting,” with Evelyne Genta, wife of the late Swiss watch designer Gerald Genta, participating virtually, live from London. They will guide guests on how to start a collection, buying and selling at auctions, the pre-owned market, complications, global watch exhibitions, watch influencers, the rise of digital media, and more.

The seminars will kick off on May 25 with a keynote speech by Krayem Al-Enazi, president of the National Committee for Precious Metals and Gemstones. Both sessions will be held from 4 p.m. to 6 p.m. in Al-Faisaliah Hotel.