Riyadh beats Paris, Berlin, and Madrid in global Smart City ranking

Riyadh beats Paris, Berlin, and Madrid in global Smart City ranking
Riyadh is up from 39th last year and 55th in 2019.
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Updated 07 April 2023
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Riyadh beats Paris, Berlin, and Madrid in global Smart City ranking

Riyadh beats Paris, Berlin, and Madrid in global Smart City ranking

RIYADH: Riyadh has beaten the capitals of France, Germany and Spain in a global Smart City ranking, with Makkah, Jeddah, and Madinah included in the list for the first time.

The list, which seeks to find out how technology is enabling cities to achieve a higher quality of life for their inhabitants, places the Saudi capital 30th on the global ranking – making it the third highest Arab city.

It is also up from 39th last year and 55th in 2019.

Makkah is placed 52nd – which still makes it the fourth highest Arab city – with Jeddah coming in the 56th position and Madinah ranked 85th.

Abu Dhabi and Dubai lead the way for Arab cities, coming in at 13th and 17th respectively on the list of 141 settlements. 

According to the Saudi Press Agency, the Smart City observatory is one of the global indexes that evaluates the preparedness of cities and it is an assessment tool and holistic, interdisciplinary approach for urban planners, decision-makers, and researchers to evaluate smart tech systems’ contributions to improving the living standards of residents.

The improvement in the Saudi cities’ ranking in the Smart City index was the result of collaborative efforts of all concerned agencies, including the National Smart City Platform, launched by the Saudi Data and Artificial Intelligence Authority, added SPA.

The top ranked city is Zurich in Switzerland, followed by Olso in Norway, and Canberra in Australia.

The full report notes the absence of American or African cities in the top 20, which is dominated by those in Europe or the Asia-Pacific – with the exception of Abu Dhabi and Dubai.

New York ranks 22nd while Cairo, at 108th, is the leading African city. Medellin in Colombia is the leading South American location at 118.

The report notes: “The 2023 rankings reflect a growing interest and higher levels of concern about the quality of life that residents are expecting to enjoy in their respective cities. 

“Size is often a handicap rather than an advantage in this regard. This explains why most large metropolises such as Boston (34th) or Paris (46th) rank relatively low in the index, in spite of remarkable progress in a number of key areas such as sustainability and mobility.”


SAL Saudi Logistics IPO fully subscribed on book-building debut

SAL Saudi Logistics IPO fully subscribed on book-building debut
Updated 5 sec ago
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SAL Saudi Logistics IPO fully subscribed on book-building debut

SAL Saudi Logistics IPO fully subscribed on book-building debut

RIYADH: The initial public offering of SAL Saudi Logistics Services Co. was fully subscribed on the first day of the book-building process amid strong demand from investors.

The company set the IPO price range between SR98 ($26.13) to SR106 per share, according to HSBC Saudi Arabia, acting as the financial adviser, bookrunner, global coordinator, lead manager and underwriter of the potential offering.

The book-building process began on Monday and will continue until 2 p.m. on Oct. 1.

The logistics company is offering 24 million ordinary shares, or 30 percent of its share capital, on the Saudi Stock Exchange, known as Tadawul. SAL’s capital stands at SR800 million divided into 80 million shares.

The cargo business could raise as much as SR2.54 billion from the listing.

SAL Saudi Logistics is 70 percent owned by Saudi Arabian Airlines Corp. and 30 percent by Tarabot Air Cargo Services. Saudia and Tarabot are jointly offering a 30 percent stake in SAL Logistics, comprising 24 million ordinary shares.

Aviation is part of a government's strategy to become a global transportation and logistics hub by 2030, with Riyadh airport as base for a new airline.

SAL is the leading market player in the kingdom, holding a market share of about 95 percent and providing services to 18 domestic airports. The company also handles transit and export shipments.

SAL recorded revenue of SR1.22 billion for 2022, with net income of SR362 million.


Marriott plans to make sustainability the core of its projects in Saudi Arabia 

Marriott plans to make sustainability the core of its projects in Saudi Arabia 
Updated 28 min 40 sec ago
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Marriott plans to make sustainability the core of its projects in Saudi Arabia 

Marriott plans to make sustainability the core of its projects in Saudi Arabia 

RIYADH: In line with Saudi Arabia’s Vision 2030, hospitality group Marriott plans to make sustainability a key pillar of its projects in the Kingdom, said one of its top executives. 

Speaking to Arab News on the sidelines of the Future Hospitality Summit in Abu Dhabi, Sandeep Walia, chief operations officer of Marriot International Middle East, said the company is working to reduce carbon emissions, cut food waste, and ensure the use of renewable energy in its projects. 

“Vision 2030, for instance, is focused on a big pillar (such as) sustainability ... Marriott is equally focused on sustainability. So, we have different elements to it, whether it is food waste reduction by 50 percent or whether it is renewable energy ... to get to 30 percent,” said Walia. 

He also pointed out that the company is testing how to get the most benefit from clean energy. 

“We have done different experiments. So, one of the Marriott hotels in Riyadh put solar panels on their roof to see how we can use solar energy, which has been a big success. In fact, a lot of hotels are experimenting, and the results are very encouraging,” Walia said. 

The hospitality giant has been present in the Kingdom for four decades, with 36 open hotels and an equal number in different project stages. 

 “It is nice and interesting to see hotels in Saudi Arabia changing from business travel endpoints to leisure destinations, and that’s why it is important to have about 36 projects in the making,” he said. 

Commenting on Saudization in the sector, he believed it has brought much positive change to the country. 

“I was talking about how important people are. We are starting to see young Saudi nationals work in our hotels. So today, out of the 36 open hotels we spoke about, more than 45 percent of the people making the workforce are Saudi nationals,” he said. 

Walia added that his company is focusing on employing Saudi people in top leadership positions.   

“We have a group of high-performing leaders who we feel can be hotel managers or general managers in the next two years because we feel that it would be great to have hotels that are led by Saudi nationals, which is a big focus for us,” he said. 


Saudi crown prince launches ‘Soudah Peaks’ masterplan

Saudi crown prince launches ‘Soudah Peaks’ masterplan
Updated 35 min 20 sec ago
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Saudi crown prince launches ‘Soudah Peaks’ masterplan

Saudi crown prince launches ‘Soudah Peaks’ masterplan

RIYADH: Saudi Crown Prince Mohammed bin Salman  has launched the masterplan to develop a new project in the mountainous region of Soudah to present a new face of luxury mountain tourism.

The project called “Soudah Peaks” will see a luxury mountain tourism destination set 3,015 meters being created above sea level on Saudi Arabia's highest peak. It will extend from the region of Souda and parts of Rijal Almaa.

Situated within an extraordinary natural and cultural environment in the Aseer region, southwest Saudi Arabia, the project is a key part of the Public Investment Fund (PIF)’s efforts to diversify the economy by expanding vital industries such as tourism, hospitality, and entertainment, and supporting Aseer development strategy.

Crown Prince Mohammed bin Salman, Chairman of Soudah Development’s Board of Directors, stated that Soudah Peaks represents a new era of luxury mountain tourism by providing an unprecedented living experience while preserving the natural environment, cultural, and heritage richness. 

It is strategically aligned with Vision 2030 goals of expanding tourism and entertainment, supporting economic growth, attracting investments, contributing more than SAR29 billion to the Kingdom’s cumulative GDP, and creating thousands of direct and indirect job opportunities.

The Crown Prince said: “Soudah Peaks will be a significant addition to the tourism sector in Saudi Arabia and place the Kingdom on the global tourism map, whilst highlighting and celebrating the country’s rich culture and heritage. Visitors will have the opportunity to discover the beauty of Soudah Peaks, explore its rich culture and heritage, and experience the authentic hospitality of the local community. Soudah Peaks will offer unforgettable experiences amidst lush greenery, above the clouds.”

Soudah Peaks aims to offer high-end luxurious hospitality services to over two million visitors throughout the year by 2033. The masterplan is being designed to reflect the local traditional, and architectural styles, and will promote both the cultural and landscape heritage of the region.

The destination will be home to 6 unique development zones: Tahlal, Sahab, Sabrah, Jareen, Rijal, and Red Rock. Each will offer a range of world-class facilities including hotels, luxury mountain resorts, residential chalets, villas, premium mansion sites, entertainment and commercial attractions, as well as outdoor attractions dedicated to sports, adventure, wellness and culture.

Soudah Development will deliver 2,700 hospitality keys, 1,336 residential units, and 80,000 square meters of commercial space for Soudah Peaks by 2033.


Egypt hosts 8th annual meeting of board of governors of AIIB

Egypt hosts 8th annual meeting of board of governors of AIIB
Updated 47 min 21 sec ago
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Egypt hosts 8th annual meeting of board of governors of AIIB

Egypt hosts 8th annual meeting of board of governors of AIIB

RIYADH: Egyptian President Abdel Fattah El-Sisi welcomed delegates as he launched the annual meeting of the board of governors of the Asian Infrastructure Investment Bank from Sept. 25 to 26, as confirmed by AIIB. 

The event commenced at the Sharm El-Sheikh International Congress Center, where El-Sisi spoke of his interest in strengthening bilateral and continental development partnerships. 

In his speech, the Egyptian president welcomed the participants and stated: “We are happy to host, and we have also prepared Sharm El-Sheikh in a way that suits this conference.” 

The meeting, which marks AIIB’s first in-person annual meeting since 2019, provides a distinctive opportunity to highlight AIIB’s achievements and solicit insights and guidance from its shareholders regarding the institution’s strategic direction and initiatives.  

Furthermore, the event’s overarching theme, “Sustainable Growth in a Challenging World,” is suitable for encouraging discussions among delegates from AIIB member countries. It also promotes engagement with partners, prominent business leaders, civil society organizations, and experts from various fields globally.  

High-ranking official representatives from AIIB member nations, the bank’s development partners, influential business figures and civil society organizations as well as scholars, and experts across diverse domains will also be in attendance.   


Wyndham Hotels keen on becoming part of Saudi Arabia’s economic transformation

Wyndham Hotels keen on becoming part of Saudi Arabia’s economic transformation
Updated 53 min 22 sec ago
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Wyndham Hotels keen on becoming part of Saudi Arabia’s economic transformation

Wyndham Hotels keen on becoming part of Saudi Arabia’s economic transformation

ABU DHABI: As the Saudi hospitality sector is witnessing unprecedented growth amid efforts to transform the country into an international tourism hub, Wyndham Hotels plans to expand its Ramada brand across key cities, and secondary and tier-3 areas.

This was disclosed by Dimitris Manikis, president of Wyndham Hotels in Europe, the Middle East, and Africa, during an interview with Arab News on the sidelines of the Future Hospitality Summit in Abu Dhabi.

The official was upbeat about his company’s plans to bolster its Ramada brand in Saudi Arabia given the opportunities the ongoing economic transformation has to offer to industry players and investors.

Highlighting the significance of the Ramada brand, Manikis said it “is a very important brand for us. It’s a brand that is associated with the people.”

Following the acquisition of the direct franchising rights for Ramada in Saudi Arabia, Wyndham Hotels aims to collaborate directly with property owners for its development.

In addition to the brand’s expansion, Manikis revealed that the company would announce the appointment of a country director for Saudi Arabia in October, with further projects and partnerships on the horizon.

The initiative aligns with Wyndham’s approach to reinforce the Kingdom’s hospitality sector, marking a key milestone in the company’s growth trajectory in the region.

“Wyndham’s plan is to be part of the whole development journey of the Kingdom of Saudi Arabia. We need to and we want to be part of it,” Manikis stated underscoring the company’s ambition to intertwine its growth with the progressive trajectory of the Kingdom.

“We want to be there in that journey and acquiring those franchising rights back is part of our strategy,” he added.

He said that Saudi Arabia’s bid for Expo 2030 presents a tremendous opportunity to spotlight the remarkable transformation unfolding in the Kingdom.

The hotelier also emphasized that the company is playing a pivotal role in the transformation of the Kingdom’s hospitality industry, with significant initiatives already underway.

“We have 104 million Wyndham Rewards members and every single project we bring to Saudi Arabia, those millions of people find out that there’s a new Ramada or there’s a new Wyndham, this is very important for the Kingdom,” he added.

“We are contributing by working with educational institutes to bring young people into hospitality. And we contribute by being passionate about the future of hospitality in the region. We are here to stay,” he stated.

Manikis also highlighted the company’s core values, emphasizing the paramount importance of human resources and the education of the youth.

“We work with governments, we work with institutions, we work with schools, universities. We need to make hospitality an interesting industry for young people to work in. It is not about me or the present leaders of hospitality, it is about the future leaders,” he added.

Wyndham Hotels and Resorts is one of the world’s largest hotel franchising companies with approximately 9,100 hotels across 95 countries.