Cenomi Centers hosts grand opening of U Walk Jeddah

Cenomi Centers hosts grand opening of U Walk Jeddah
The grand opening of U Walk Jeddah was attended by Cenomi Centers officials and guests. (Supplied)
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Updated 19 February 2024
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Cenomi Centers hosts grand opening of U Walk Jeddah

Cenomi Centers hosts grand opening of U Walk Jeddah

Cenomi Centers, the largest owner, operator and developer of contemporary lifestyle centers in Saudi Arabia, is delighted to host the grand opening of U Walk Jeddah, the city’s first hybrid mall concept that seamlessly integrates indoor and outdoor experiences and a watershed moment in the future of retail.

Bringing together trendy eateries and leading brands, U Walk Jeddah is redefining the city’s retail landscape by offering a next-generation shopping experience. The hybrid mall features an indoor retail boulevard, its own leisure district and a nearly 2km-long, open-air promenade with landscaped gardens, shaded terraces and a dancing fountain.

Leading F&B and lifestyle brands such as Nike, Bershka, Starbucks and 19V69 Versace opened their doors ahead of the grand opening, with a host of additional stores still to come – including Victoria’s Secret, Adidas, Zara and Lululemon.  

At 60,000-square-meter  GLA, UWalk Jeddah is already 80 percent pre-let with a number of brands opening over the coming weeks as the center gears up for pre-Ramadan trading.

As the city’s premier lifestyle destination for shopping dining and entertainment, U Walk Jeddah embodies Cenomi Centers’ vision to create the next generation of lifestyle destinations in Saudi Arabia, delivering best-in-class experiences for the local and International visitor. The recent publication of Cenomi Center’s footfall and occupancy results for 2023 reflect the strength of the business’ growth trajectory, with footfall reaching 124 million and occupancy rising to 92.9 percent. 

To celebrate the Grand Opening, U Walk Jeddah is hosting its hotly anticipated Cenomi Urban Festival – which brings childhood nostalgia to life with captivating, Instagram-worthy neon-lit installations, and a variety of immersive games and activities. The Urban Festival runs until the end of February 2024.

The launch follows the soft opening of U Walk Jeddah in December, which was marked by the launch of the Adidas FIFA Fan Zone by Cenomi, a Football Festival to coincide with the FIFA Club World Cup tournament taking place in Jeddah.

Alison Rehill-Erguven, Cenomi Centers CEO said: “We are delighted to host the much-anticipated Grand Opening of U Walk Jeddah – the city’s premier lifestyle destination for shopping, dining and entertainment. U Walk Jeddah is redefining the mall experience with its next-generation design and offering, representing everything Cenomi Centers seeks to achieve in offering the retail experiences of tomorrow. This milestone is further evidence of our bold ambitions for the future.”

U Walk Jeddah can be found conveniently located in the heart of the dynamic Al-Zahar district, with direct access via major roads, and a parking facility to accommodate 1,250 vehicles.


FedEx’s ‘Regional Economy’ services empower Saudi businesses

FedEx’s ‘Regional Economy’ services empower Saudi businesses
Updated 30 May 2024
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FedEx’s ‘Regional Economy’ services empower Saudi businesses

FedEx’s ‘Regional Economy’ services empower Saudi businesses

FedEx Express, a subsidiary of FedEx Corp. and the world’s largest express transportation company, is supporting the growing volume of merchandise trade across the Middle East with FedEx Regional Economy and FedEx Regional Economy Freight services. The deferred, day-definite road services offer cost-effective solutions for less urgent shipments to businesses of all sizes, within key countries across the region.

According to the World Trade Organization, the volume of exports originating from the Middle East is expected to grow by 3.5 percent in 2024, alongside a 1.2 percent increase in imports to the region. These figures indicate that local businesses need robust logistical support to manage an increasing flow of trade.

“At FedEx, we develop products and services that solve logistical challenges for our customers, specialized to fit the unique needs of the markets they operate in,” said Taarek Hinedi, vice president of FedEx Express Middle East and Africa operations. “With trade volumes growing across the region, businesses require increasingly flexible and customized shipping solutions that cater to the nature of their operations and products. By offering cost-effective shipping alternatives for less urgent deliveries, Regional Economy services empower Saudi businesses with a wider portfolio of solutions to choose from — ultimately enabling smoother and improved trade flow across the region.”

FedEx Regional Economy and FedEx Regional Economy Freight utilize the Middle East Road Network to offer seamless connectivity between Saudi Arabia, Bahrain, Jordan, Kuwait, Oman, and the UAE, while ensuring the safe and secure transportation of goods using real-time track and trace services via fedex.com. With this service, shipments will have express clearance with competitive transit times between three to five business days for Regional Economy and four to six business days for Regional Economy Freight between key Middle East markets. 

The customs-cleared, door-to-door intra-Middle East economy road services allow businesses to save significant costs on less time-sensitive deliveries of shipments of up to 68 kg using FedEx Regional Economy, as well as shipments above 68 kg using FedEx Regional Economy Freight, without compromising reliability. 

FedEx Regional Economy services are ideal for Saudi companies operating across diverse industries, including automotive, electronics, oil and gas, fashion and retail, chemicals, e-commerce, and healthcare. These industries have different shipping requirements ranging from lightweight parcels to heavyweight shipments. Businesses can use the economy road service to ship palletized or irregular-sized goods, or goods that cannot fit in standard-size air shipping containers. 

In Saudi Arabia, FedEx also offers the Less-than-Container Load Priority service to complement its Regional Economy suite. LCL Priority adeptly combines ocean and road networks to connect the Asia Pacific with key Middle East markets, streamlining shipping operations for businesses while offering a strategic balance of speed, affordability, and efficiency.

These services are further enhanced by FedEx digital tools, which provide a range of smart logistics solutions for Saudi businesses. These include automated shipment creation and pickup scheduling functionalities, digitized trade documentation platforms, and measurement and reporting solutions that inform better decision-making. 


Saudi Awwal Bank named ‘Best Bank for ESG’ for second year in a row

Tony Cripps, managing director and CEO at SAB
Tony Cripps, managing director and CEO at SAB
Updated 30 May 2024
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Saudi Awwal Bank named ‘Best Bank for ESG’ for second year in a row

Tony Cripps, managing director and CEO at SAB

Saudi Awwal Bank, one of the leading banks in the Kingdom, received Euromoney’s “Best Bank for ESG” award for the second consecutive year. The award recognizes SAB’s approach to sustainability and reporting.

The recognition comes as part of SAB’s efforts to align with market best practices whilst being a key contributor toward shaping corporate sustainability discussions in the Kingdom.

Tony Cripps, managing director and CEO at SAB, said: “We are proud to have received this award. This is a recognition of our efforts to embed ESG principles across our operations and decision-making processes.”

He added: “It is a testament to our commitment to sustainable banking and our desire to create long-term value for our stakeholders.”

SAB’s continuous improvement and high-performance standards have been recognized with other awards such as the “Best Bank in Saudi Arabia” and “Best Trade Finance Provider in Saudi Arabia” awards by Global Finance. 

The bank was also honored with the Euromoney magazine’s “Best Bank for Private Banking in the Kingdom” award. These awards signify SAB’s exceptional services, highlighting its strength in catering to the Kingdom’s evolving business landscape with utmost efficiency and innovative solutions.

 


MYNM’s Defender partners with Hero Balloon Flights in AlUla

MYNM’s Defender partners with Hero Balloon Flights in AlUla
Updated 29 May 2024
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MYNM’s Defender partners with Hero Balloon Flights in AlUla

MYNM’s Defender partners with Hero Balloon Flights in AlUla

Mohamed Yousuf Naghi Motors Co., the official distributor of Jaguar Land Rover products in Saudi Arabia, has signed a landmark partnership with Hero Balloon Flights, a subsidiary of Hero Experiences Group, the Kingdom’s first commercial hot air balloon operator, and the exclusive hot air balloon experience provider in AlUla. This collaboration is designed to enhance the guest experience in AlUla, one of the most enchanting and historic regions in Saudi Arabia.

AlUla, known for its rich history and stunning landscapes, now hosts an innovative experience that fuses tradition with modernity. This partnership will see the iconic Defender, renowned for its adventurous spirit and heritage, integrated into Hero Balloon Flights’ offerings. Guests will be transported in luxurious Defenders to enjoy breathtaking hot air balloon journeys over AlUla’s majestic canyons and UNESCO World Heritage Sites, such as the Hegra archaeological site.

Rhett Maxwell, managing director, MYNM Co. (Jaguar Land Rover), said: “The Defender, much like AlUla, is steeped in heritage, designed for adventure and embodies a legacy of endurance and exploration. Mohamed Yousuf Naghi Motors Co. is pleased to showcase the Defender’s capabilities in a setting that resonates with Jaguar Land Rover, with a shared heritage and a commitment to exceptional experiences. We are thrilled to offer guests of AlUla an unparalleled experience that combines the thrill of exploration with the utmost luxury and comfort of the Defender.”

Adam McEwan, co-founder and chief executive of Hero Experiences Group, highlighted the significance of the partnership: “The addition of the Defender to our fleet in AlUla rounds off the experience with that touch of luxury we are known for. The three key elements in this venture — AlUla, Defender, and Hero Experiences Group — are all passionate about adventure, culture, and heritage. That makes this the ideal partnership in an ideal location, giving us the opportunity to truly showcase what makes AlUla so special, enhanced by unique experiences in beautiful vehicles. We are extremely excited to partner with Mohamed Yousuf Naghi Motors Co. in this venture. We see this to be a long-term and fruitful relationship that will take the opportunities to discover AlUla to new heights, quite literally.”

The collaboration is more than a partnership; it is a celebration of the shared values of adventure and heritage. The Defender complements AlUla’s awe-inspiring beauty, offering a harmonious blend of the past and the present. 

Together, MYNM Co. and Hero Balloon Flights are committed to providing visitors with a truly memorable and unique experience that honors the spirit of exploration as well as the rich cultural tapestry of AlUla.


New Murabba opens partnership doors for Mukaab

New Murabba opens partnership doors for Mukaab
Updated 29 May 2024
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New Murabba opens partnership doors for Mukaab

New Murabba opens partnership doors for Mukaab

The New Murabba Development Company, owned by Saudi Arabia’s Public Investment Fund, is inviting the world’s leading contractors to take part in bringing its groundbreaking Mukaab to reality. An icon and cornerstone of Riyadh’s New Murabba mixed-use development, the Mukaab will feature the latest immersive technologies and will be one of the largest built structures in the world.

The year 2024 is primed to be a year of major progress for this landmark, with the excavation of nearly 5 million cubic meters of material, the award of the permanent piling works slated to commence in Q2 2024, and the tendering of the raft foundation and main works packages later this year — each marking a significant milestone in the destination’s progression.

“As part of its mission to deliver the Mukaab, New Murabba Development Company seeks to partner with contractors who uphold the highest standards of excellence, safety, worker welfare, sustainability, and innovation in all aspects of delivery,” a statement said.

“Applying contractors should share New Murabba’s bold vision, and be qualified to apply advanced approaches and methodologies that will ensure the development’s success and breathe life into the architectural marvel that the Mukaab represents.”

This invitation extends to globally recognized contractors specialized in large-scale construction developments that cover the full spectrum of the project delivery lifecycle, from the enabling work stage through to the construction and handover stages.

Additionally, New Murabba Development Company is seeking the interest of leading international, regional, and Saudi-based contractors specialized in long-span structural steel works, large-scale design-build façade developments, expansive public realm constructions, critical infrastructure, and pioneering technology developments.

Contractors interested in contributing to the delivery of this innovative destination, which symbolizes Saudi Arabia’s rich cultural heritage and commitment to innovation, are encouraged to visit the New Murabba Development Company website for more information.

“By partnering with New Murabba Development Company, contractors will have an outstanding opportunity to contribute to a development that is set to become an international symbol of architectural and construction excellence,” the statement said. “Partnering with New Murabba Development Company to bring the Mukaab to life will involve taking part in a legacy that will stand the test of time and inspire the Kingdom’s future generations,” it added.

Once completed, the Mukaab will be one of the largest built structures in the world, measuring 400 meters in height, width, and length.


Saudi Insurance & Financial Academy hold training course for journalists

Saudi Insurance & Financial Academy hold training course for journalists
Updated 29 May 2024
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Saudi Insurance & Financial Academy hold training course for journalists

Saudi Insurance & Financial Academy hold training course for journalists

Saudi Insurance, through its Media and Insurance Awareness Sub-Committee, and in collaboration with the Financial Academy, conducted a comprehensive training course titled “Insurance Industry for Media Community.” Held on May 26-27 at the Financial Academy’s head office in King Abdullah Financial District, Riyadh, the training course targeted journalists, reporters, editors, TV and radio presenters, and media professionals interested in covering the Saudi insurance market news.

The training course, led by Adel Al-Eisa, head of the Media and Insurance Awareness Sub-Committee, covered a number of essential topics. These included the definition and types of risks, the importance of insurance, different types of insurance products, governance in insurance and fraud prevention, and the roles of regulatory bodies in the Saudi insurance industry, including the Insurance Authority.

Al-Eisa said: “The media plays a crucial role in educating the public about the importance and benefits of insurance. Our goal with these training courses is to equip media professionals with the knowledge they need to accurately and effectively communicate the intricacies of the insurance industry to their audiences.”

Chief of Capabilities Development at the Financial Academy Mohammed Alhamazany, expressed the academy’s pride in participating in this initiative for the sixth year in a row.

“Enhancing understanding of insurance among media professionals is vital to enhancing transparency and trust in this key sector,” he said.

Alhamazany added: “The ‘Insurance Industry for Media Community’ training course forms part of a broader effort that began five years ago, as the Media and Insurance Awareness Sub-Committee organized several training courses within the framework of the program in different cities in Saudi Arabia to ensure widespread participation.”

He said that the Financial Academy is also working on building partnerships with local and international institutions to enhance the exchange of knowledge and expertise, ensuring the highest levels of efficiency and professionalism in the financial sector.

“The next training course is scheduled to be held soon in another region of the Kingdom, continuing the mission of educating and enhancing knowledge of the media community, thus enhancing the overall quality and accuracy of news coverage related to the Saudi insurance sector,” Alhamazany added.