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Major real estate investment exhibition begins in Jeddah

Major real estate investment exhibition begins in Jeddah
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Major real estate investment exhibition begins in Jeddah
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Updated 29 May 2023
Arab News
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Major real estate investment exhibition begins in Jeddah

Major real estate investment exhibition begins in Jeddah
Updated 29 May 2023
Arab News
Follow

The first edition of the Saudi Real Estate Development and Ownership Exhibition 2023, the leading real estate event in the Kingdom, opened on May 28, welcoming more than 60 international and regional developers.

The event, spanning 10,000 square meters of exhibition space, was officially inaugurated by Saad Al-Otaibi, member of the board at Jeddah Chamber.

Taking place until May 31 at the Jeddah Center for Forums and Events, the exhibition is Saudi Arabia’s largest and most influential property investment showcase, expecting to attract more than 15,000 visitors with an interest in purchasing or promoting real estate.

A highlight this year includes dialogue sessions and workshops to review opportunities and modern methods in real estate development, in addition to a number of specialized training courses. The event features the participation of competent authorities and real estate developers and financing agencies, who will review the opportunities and modern methods in real estate development.

The Saudi Exhibition for Real Estate Development and Ownership, or SEREDO, is considered a major platform to develop and upgrade the Saudi real estate market, as it brings together the agencies that serve the real estate sector and its pioneers under one roof, contributing to the exchange of experiences, dissemination of knowledge and raising awareness among visitors of the exhibition about the importance of real estate investment and real estate products, in addition to providing successful marketing solutions to meet the demand.

Abdulrahman Al-Zahrani, general manager of Aalyalshan Company, the organizer of the exhibition, said the goal is to present an effective real estate exhibition that contributes to the development and advancement of the Saudi real estate market.

Al-Zahrani said that holding such specialized real estate exhibitions is in tune with the aspirations to upgrade the sector and diversify economic resources to increase the contribution of the non-oil sectors to the GDP.

He also pointed out the positive results being achieved in the real estate sector, which are in line with the positive indicators in the economic plan.

Al-Zahrani noted the government’s measures to attract investments in the real estate sector, implement Saudi Vision 2030 and achieve the sustainable development goals.

It is expected that the volume of real estate financing in the coming period will reach more than SR100 billion ($26.6 billion). This will reflect on real estate demand, market stability and growth, in addition to the facilities and infrastructure provided by the government that encourage real estate investment and require expertise, planning and analysis.

Amidst the rise in real estate market indicators in Saudi Arabia, studies show that the Kingdom needs more than 3 million housing units until 2040.

Asfar, Ebda launch mountain tourism project in Al-Baha

Asfar, Ebda launch mountain tourism project in Al-Baha
Updated 30 September 2023
Arab News
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Asfar, Ebda launch mountain tourism project in Al-Baha

Asfar, Ebda launch mountain tourism project in Al-Baha
Updated 30 September 2023
Arab News

Asfar, a Saudi tourism investment company owned by the Public Investment Fund, has announced its partnership with Ebda to launch Gamra, a tourism project encompassing a mountain resort and an adventure park in Al-Baha. Gamra represents Asfar’s first foray into tourism infrastructure development in the emerging cities of Saudi Arabia. The upcoming project will offer visitors an integrated tourism experience.

Spanning nearly 70,000 square meters, the Gamra project will feature 100 units, including 70 upscale villas and 30 resort rooms, all designed to immerse guests in the beautiful mountain landscapes of Al-Baha. The resort will offer guests a comprehensive tourism experience, featuring a spa, two restaurants, two cafes, an expansive outdoor plaza, and an outdoor adventure park alongside an indoor adventure park.

Dr. Fahad bin Mushayt, CEO of Asfar, said: “We have a strategic focus to co-invest with the private sector to unlock tourism opportunities across the Kingdom, empowering private companies to amplify their contributions to the envisioned transformation of promising cities like Al-Baha. We strive to redefine and elevate mountain tourism and agritourism, setting unparalleled industry standards within Saudi Arabia. This comes in line with the broader national agenda to boost the tourism sector and increase its input to the GDP, consistent with Saudi Vision 2030.”

Mushayt added: “We are excited to collaborate with Ebda to leverage our unique expertise and the substantial benefits we offer investors. Together, we aim to enhance the tourism and hospitality sectors, aligning with the Kingdom’s objective of attracting 100 million visitors by 2030. We eagerly anticipate welcoming guests and delivering an unmatched hospitality experience.”

Construction of the project commenced earlier this month, setting the stage for Gamra’s inauguration in the first half of 2025.

Sinan Al-Saady, Ebda board member, said: “We are delighted to forge a strategic partnership with Asfar. Our shared vision underscores the importance of harnessing untapped potential to strengthen Saudi Arabia’s tourism ecosystem and transform Al-Baha into a premier entertainment destination. With its scenic beauty, vast tourism opportunities, and unique historical and archaeological sites, Al-Baha is poised to become a leading regional destination.”

This new alliance will pave the way for developing tourism ventures that meet global standards, encompassing retail, hospitality, dining, and adventure tourism. Al-Baha’s distinct natural beauty, including its diverse flora, majestic mountains, and temperate climate, makes it an enticing destination for both domestic and international tourists.

Following a recent cooperation agreement with the Al-Baha municipality during Cityscape Global in Riyadh, Asfar’s announcement reinforces its commitment to realizing world-class tourism initiatives.

KROHNE points way to safer process automation at MEICA 2023

KROHNE points way to safer process automation at MEICA 2023
Updated 30 September 2023
Arab News
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KROHNE points way to safer process automation at MEICA 2023

KROHNE points way to safer process automation at MEICA 2023
Updated 30 September 2023
Arab News

KROHNE, a global manufacturer of process instrumentation, joined one of the increasingly important stakeholder engagement programs in the Middle East and Africa region earlier this month. MEICA 2023, the fourth edition since inception and the first in Saudi Arabia, ran from Sept. 12-14 in Alkhobar and brought together the instrumentation, automation and cybersecurity ecosystem partners of Saudi Aramco.

Always looking for ways to get closer to local partners and customers, KROHNE was represented by Serge Mattens, flown into the Middle East region especially to deliver his expertise on the importance of reliable measurement technology in potentially dangerous environments. Safety Integrity Levels as per IEC 61508 was the central theme for the presentation and was well-received by the gathered audience as they were asked to remember the two main causes of safety function failure: systematic errors and random errors, the latter of which is something under the control of the user.

Frank Janssens, vice president, KROHNE Middle East and Africa, said: “KROHNE Group has been in operation for over a century and is proudly built on key values we still cherish today, such as our pioneering capabilities within a family-style environment. Our goal at MEICA 2023 was to engage with a key stakeholder ecosystem in Saudi Arabia and share valuable knowledge from our global experts. Safety is a critical topic for our partners in the energy and infrastructure industries and we see it as of vital importance to share our insights and intelligence on how to solve these issues. We hope to be part of the team building a better tomorrow together through safer, more efficient measurement solutions. Only then can we meet and beat the net-zero targets we are aiming for.”

Founded in 1921 and headquartered in Duisburg, Germany, the KROHNE Group offers local contacts for instrumentation projects of any size in more than 100 countries. Operating in the MEA region, KROHNE has developed a reputation for trusted high-quality measurement solutions across key industries such as oil and gas, water and wastewater management, metal and mining, power and chemical plants.

For 12th year in row, Abdul Latif Jameel Motors wins ‘Gold’ from Toyota

For 12th year in row, Abdul Latif Jameel Motors wins ‘Gold’ from Toyota
Updated 27 September 2023
Arab News
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For 12th year in row, Abdul Latif Jameel Motors wins ‘Gold’ from Toyota

For 12th year in row, Abdul Latif Jameel Motors wins ‘Gold’ from Toyota
Updated 27 September 2023
Arab News

Abdul Latif Jameel Motors, an authorized distributor of Toyota vehicles in Saudi Arabia since 1955, has been awarded the prestigious Gold Award for the 12th time in a row in the 2022 Distributor Award Program by Toyota Motor Corporation. The achievement recognizes the company’s commitment to delivering an exceptional guest experience across the Kingdom.

“This award underlines Abdul Latif Jameel Motors’ continued efforts in listening to its guests and understanding their needs,” a statement said.

With Kaizen at the heart of Abdul Latif Jameel Motors’ operations, guests are placed at the center of developing services resulting in a unified, seamless guest experience, enabling them to voice their opinions and offer suggestions and allowing us to address their queries while meeting and exceeding guest expectations.

Akitoshi Takemura, regional CEO of Toyota Motor Corporation, said: “We extend our warmest congratulations to Abdul Latif Jameel Motors on winning this prestigious award. This achievement is yet another tribute to the relentless efforts of Hassan Jameel and the Abdul Latif Jameel Motors team and their strong commitment to achieving exceptional results. Abdul Latif Jameel Motors has consistently demonstrated their dedication and passion to provide outstanding service and support to deliver happiness for all their guests in Saudi Arabia. We are proud to have them as an authorized distributor of Toyota vehicles in Saudi Arabia and look forward to many more years of success together.” 

Hassan Jameel, chairman of Abdul Latif Jameel Motors

Hassan Jameel, chairman of the board of managers of Abdul Latif Jameel Motors, said: “Receiving the Gold Award for the 12th year in a row is a remarkable achievement and a testament to our team’s unwavering commitment to delivering excellence in every aspect of our business. The Gold Award reinforces our dedication to providing the best possible services to our guests with our ‘guest first’ philosophy. We are grateful to Toyota for recognizing our efforts and thankful to our guests and employees who have played an important role in our success. We will continue to build on our successes and strive for even greater achievements in the future.”

The award also acknowledges the excellent after-sales service of Abdul Latif Jameel Motors, which aims to serve every guest in the best way possible.

Since 1955, Abdul Latif Jameel Motors has worked together with Toyota Motor Corporation to deliver a premium experience of automotive ownership and after-sales services in Saudi Arabia. Leveraging decades of considerable expertise across the mobility value chain, the company continues to improve products and services, meeting the evolving needs of its guests.

KSA professionals embrace AI as their ‘invisible teammate’: LinkedIn

KSA professionals embrace AI as their ‘invisible teammate’: LinkedIn
Updated 27 September 2023
Arab News
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KSA professionals embrace AI as their ‘invisible teammate’: LinkedIn

KSA professionals embrace AI as their ‘invisible teammate’: LinkedIn
Updated 27 September 2023
Arab News

According to new research from LinkedIn, the world’s largest professional network, employees are gearing up for a new way of working thanks to new advances in artificial intelligence such as generative AI. 

Amid AI’s growing prominence in the workplace, the new data has revealed that a vast majority of professionals in Saudi Arabia (79 percent) believe that AI will bring significant change to their work within the next year, while 85 percent believe AI will bring significant change to their work within the next five years. Even more employees (86 percent) think AI will be an invisible teammate to help them with their work. 

AI has been an area of focus in the Kingdom for some time, especially since the announcement of its Artificial Intelligence Strategy in 2020. This was further cemented by the establishment of the Saudi Data and Artificial Intelligence Authority as the central authority responsible for regulating and overseeing all AI-related matters.

Data shows that 70 percent of professionals want to learn about the different ways they can use AI in their work and 79 percent expressed confidence in their ability to leverage AI tools in carrying out their jobs. 

It is clear that professionals in the Kingdom are looking forward to the potential AI can bring to their careers, with an overwhelming majority (97 percent) saying they believe it will help their career progression in some way. 

In terms of specific benefits the use of AI will bring to their work, 72 percent of employees said it would enable them to spend more time to focus on the aspects of work they enjoy the most.

Meanwhile, 61 percent of Gen-Z employees surveyed are concerned about their level of knowledge about AI and worried that they should know more about it. 

Ali Matar, EMEA growth markets leader and head of LinkedIn MENA, said: “In Saudi Arabia, we’ve seen an overwhelmingly positive response to the adoption of AI, with a vast majority of professionals taking steps to embrace AI at work.

“Getting up to speed can feel overwhelming and there is more to be done to educate and train professionals to ensure they feel knowledgeable and ready to fully embrace AI. This is particularly true for the younger age group, who are showing more signs of hesitation in adopting AI, albeit eager to learn as they also recognize the many benefits AI can bring to their working lives, including supporting them with career progression and enabling a better work-life balance. 

“With this in mind it is even more important for us at LinkedIn to ensure we facilitate learning by offering the workforce the resources they need to feel equipped.” 

LinkedIn’s career expert Najat Abdelhadi said having the language to talk about and understand AI will put professionals ahead of the curve. She said: “Study up on popular AI skills with resources like LinkedIn Learning, where you can find the most popular AI courses unlocked for free until the end of the year. A good place to start is with ‘How to Research and Write Using Generative AI,’ and ‘What is Generative AI.”

Saudi Awwal Bank named ‘Best Bank for Small and Medium Enterprises in the Kingdom’

Saudi Awwal Bank named ‘Best Bank for Small and Medium Enterprises in the Kingdom’
Updated 27 September 2023
Arab News
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Saudi Awwal Bank named ‘Best Bank for Small and Medium Enterprises in the Kingdom’

Saudi Awwal Bank named ‘Best Bank for Small and Medium Enterprises in the Kingdom’
Updated 27 September 2023
Arab News

Saudi Awwal Bank has received the “Best Bank for Small and Medium Enterprises in the Kingdom” award, issued by the international magazine Euromoney. The award comes as a recognition of the bank’s steadfast commitment to empowering and supporting SMEs in Saudi Arabia.

The commitment of SAB to the SME sector is evident through its support for the Financial Sector Program of Saudi Vision 2030, specifically tailored to SMEs.

SAB has taken significant steps in digital transformation and the adoption of innovative digital banking services for SMEs. This includes launching various digital services with multiple features, such as user management without the need for direct communication with the bank and advanced security features. It has also introduced a digital banking account opening service for SMEs, which received the “Outstanding Initiative for Opening and Managing SME Accounts” award at the 2023 SME Banking Innovation Awards. The bank also provides innovative financing programs tailored to SME requirements.

Yasser Al-Barrak, chief corporate and institutional banking officer, said: “This award reflects our continuous efforts to provide the best services to SMEs in the Kingdom. Our investment in people, technology, and innovation not only demonstrates our commitment to growth and development but also our determination to meet the evolving needs of SMEs during this crucial period of their development. With each achievement, we always look forward to providing innovative banking solutions that meet the aspirations of small and medium-sized enterprises. As we continue to evolve to support them in expanding their business, our goal is not only to be the preferred partner but also to be the driving force behind their success.”

SAB supports many SMEs by collaborating with relevant entities such as Monsha’at, Small and Medium Enterprises Bank, Kafalah Program, the Real Estate Development Fund, the National Information Technology Development Program, the Tourism Development Fund, the Industrial Development Fund, and others.

The bank also collaborates with the London Stock Exchange to provide a range of training and awareness sessions as part of the SAB Academy program for SMEs, which are offered through virtual seminars, regardless of whether the SMEs are clients of the bank. The academy aims to empower these enterprises with financial planning and education as the key elements of success.

 

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