Infra and IFC ink deal to enhance infrastructure advisory services in KSA

Infra and IFC ink deal to enhance infrastructure advisory services in KSA
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Updated 30 October 2024
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Infra and IFC ink deal to enhance infrastructure advisory services in KSA

Infra and IFC ink deal to enhance infrastructure advisory services in KSA

The National Infrastructure Fund and the International Finance Corporation signed a cooperation memorandum focused on offering joint advisory services for infrastructure transactions in the Kingdom. The signing took place in the presence of Minister of Economy and Planning Faisal F. Alibrahim, and Chairman of the National Infrastructure Fund and Managing Director of the International Finance Corporation Makhtar Diop.

This collaboration will build on the two institutions’ complementary expertise, specifically focusing on greenfield, brownfield, and capital markets transactions. The Infra/IFC partnership will deliver structuring and transaction advice to support the continued growth of private sector participation across the Kingdom’s high-growth infrastructure market, including sectors such as energy and energy transition, water, transport and logistics, waste management, health and education, communications and digital infrastructure among others.

The partnership will strengthen Infra’s ability to combine advice with its strategic financing capability and support accelerated outcomes for high-priority infrastructure needs. The arrangement will leverage IFC’s global track record of innovation across multiple sectors and financing strategies.

Esmail Alsallom, CEO of Infra, said: “Our partnership with IFC is an important step in expanding Infra’s offering. The integration of advice with Infra’s flexible financing solutions will play an important role in expanding the opportunities for institutional and foreign investment. We are delighted to be partnering with IFC to support higher levels of private sector investment which is critical to the success of the Kingdom’s transformative Vision 2030 agenda.” 

Diop said: “With this agreement, we reaffirm our commitment to supporting Saudi Arabia’s Vision 2030, which aims to increase private sector participation and diversify its economy. This sends a strong signal to the global business community to invest in transformative infrastructure projects in the country. Private sector engagement can unlock a new era of growth and prosperity for the Kingdom — and, at IFC, we want to make that happen.”


Global live event agency inks Kingdom partnership

Global live event agency inks Kingdom partnership
Updated 11 December 2024
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Global live event agency inks Kingdom partnership

Global live event agency inks Kingdom partnership

Naif Alrajhi Investment, a Saudi investment group, has announced a strategic partnership with M Integrated Solutions PLC, a creative agency and global leader in live events and immersive storytelling.

The partnership will reshape the landscape of live events in the Kingdom, bringing a unique fusion of business acumen and creative storytelling that will resonate deeply with audiences.

M has a reputation for engaging with live audiences in excess of 650,000, delivering personal experiences across varied demographics and cultures, and on every continent. The company has a track record of delivering strategic, high-impact live events for governments, brands, and organizations around the world. M’s clients include the Dubai World Cup, Commonwealth Summit, COP, FIFA, Olympic Council of Asia, International Olympic Committee, Toyota, BAE Systems, Airbus, and various governmental agencies like the Department for Education, to name a few.

Salman Al-Asmari, vice president of Naif Alrajhi Investment, said: “Our alliance with M Integrated Solutions goes beyond conventional collaboration; it represents a meeting of vision and values, with both companies dedicated to fostering growth in line with the Kingdom’s Vision 2030 objectives and beyond. Together, we aim to shape the future of live, immersive storytelling, driving both innovation and emotional engagement that resonate with our people and our culture.”

Founded more than 30 years ago, M brings a heritage of excellence in strategic storytelling, audience engagement, and brand-building.

Through this collaboration, M plans to build upon and strengthen its presence in the Kingdom, positioning itself as the provider of choice for live event solutions that bridge culture, commerce acumen, and creativity to empower brands to not only tell their stories, but to engage audiences, creating moments that are unforgettable.

Jim Curley, M’s CEO, said: “This partnership reflects a deliberate strategy to formalize and expand our presence in Saudi Arabia, leveraging Naif Alrajhi Investment’s cultural and business expertise to deepen our relationships at the highest levels of government and industry. Our combined strengths will allow us to deliver a new caliber of experiences, making us the go-to agency for brands looking to make meaningful activities in the Kingdom.”

John Young, executive creative director of M, said: “Saudi Arabia has always been a canvas for remarkable creativity and innovation, and we’re thrilled to formalize our role in shaping the country’s live event marketing space. We’re excited to bring our international expertise and unique creative approach to a market that values bold ideas and groundbreaking experiences.”

The partnership is set to redefine live events in Saudi Arabia, bridging local values and international expertise to deliver unparalleled brand experiences. 

Through this partnership, both companies are committed to establishing new benchmarks for creativity, cultural resonance, and strategic growth in the Kingdom.


Bupa Marathon supports public health, environment

Bupa Marathon supports public health, environment
Updated 10 December 2024
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Bupa Marathon supports public health, environment

Bupa Marathon supports public health, environment

Bupa Arabia for Cooperative Insurance hosted its Bupa Marathon 2024 on Nov. 30 in Riyadh’s Misk City. The event, held under the slogan “Your steps bring life to our environment,” brought together more than 2,500 participants of all ages and abilities, including people with special needs, to support the twin causes of public health and environmental sustainability.

The marathon was supported by Mohammed Bin Salman Nonprofitable City, the Saudi Sports for All Federation, and the Ministry of Sports, reflecting the cooperation between governmental authorities and the private sector to enhance physical activity and health awareness in Saudi society.

Hanen Al-Rasheed won first place in the 10-km women’s race, while Abdulrahman Al Anssary bagged first position in the men’s category. In the five-km race, Noor Al-Jubouri and Mahmoud Osman emerged winners in their respective categories.

Meanwhile, in the 1-km race, Jana El-Houshy bagged first position among women while Yassine Lafif came first in the men’s category. In the special needs category, Omar Mahdi won first place in the 1-km race.

Alshereef Hamideddin, senior executive director of marketing at Bupa Arabia, said: “This marathon is not only a race for sport, but it’s an invitation to motivate the community to adopt an effective and healthy lifestyle, as well as maintain the environment. We are proud of the positive energy and the huge attendance that we witnessed from all the participants; this assures the importance of such activities to enhance community spirit.”

In line with its commitment to preserving the environment, Bupa Arabia planted a tree across the Kingdom for every participant. The initiative aims to increase green spaces and enhance environmental awareness.

The Bupa Marathon is part of Bupa Arabia’s “Live Right” program, which launched in 2022 to promote a culture of healthy lifestyles in the Kingdom. The marathon is also in line with the goals of Saudi Vision 2030, which include enhancing physical activity, improving public health, and supporting environmental sustainability.


LEAP steps ‘Into New Worlds’ with bold 2025 edition

LEAP 2025 will feature more exclusive experiences with the focus on world’s latest and most exciting technologies.
LEAP 2025 will feature more exclusive experiences with the focus on world’s latest and most exciting technologies.
Updated 10 December 2024
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LEAP steps ‘Into New Worlds’ with bold 2025 edition

LEAP 2025 will feature more exclusive experiences with the focus on world’s latest and most exciting technologies.

Saudi Arabia’s global award-winning tech event LEAP is poised to break new ground when a newly enriched and revamped fourth edition returns from Feb. 9-12, 2025 at the Riyadh Exhibition and Convention Center in Malham.

Being held under the theme “Into New Worlds,” LEAP 2025 will be the pioneering tech event’s first ticketed outing to date, encompassing a higher percentage of influential industry attendees to elevate business networking and investment opportunities across the technology landscape.

LEAP 2025 is co-organized by Tahaluf and the Ministry for Communications and Information Technology — a joint venture between Informa PLC, the Saudi Federation for Cybersecurity, Programming and Drones and Events Investment Fund. The event will deliver advanced features, including a new series of “LEAP Nights” activities, the return of DeepFest, a dedicated Tech Arena, a SportsTech Track and a commitment to hosting and enhancing innovation across multiple sectors such as space, gaming, education, and smart cities, over 20 stages.

Saudi Arabia’s Minister of Communications and Information Technology Abdullah Alswaha said: “LEAP has made an outstanding contribution to the realization of the Saudi Vision 2030 goals and has rightly positioned the country as a global technology hub. The decision to move to a ticketed format this year makes LEAP more of an exclusive experience for attendees and relevant to today’s global technology elite. LEAP 2025 will showcase exceptional technology innovations, business opportunities and content — ensuring Saudi Arabia becomes the world’s undisputed technology aggregator.”

Tahaluf expects the fourth edition to witness a surge in interactions between exhibitors and visitors, as LEAP 2025 guests will engage with more than 680 startups, 1000-plus expert speakers, and over 1,800 global tech brands.

LEAP 2025 will feature more exclusive experiences for attendees with the focus on connecting the right people with the world’s latest and most exciting technologies.

A new SportsTech Track will see the world of sports meet the latest tech trends. Attendees will be able to step into the future of sports and experience live demos, industry announcements, and the latest technology innovations from clubs, industry leaders, and pioneers of the sector. Confirmed speakers include Patrice Evra, the successful entrepreneur and former Manchester United forward and France national team captain, who makes his return to LEAP, as well as Mathieu Pierre Flamini, also a former French professional footballer and co-founder of GF Biochemicals.

The Tech Arena is also a new addition for LEAP 2025, where attendees will witness live product demos, get hands-on with prototypes, and see cutting-edge technology in action. The Tech Arena will host a lineup of interactive engagements, connecting participants directly with tomorrow’s breakthrough technologies and innovations.

The Startup Stage will see LEAP dedicate a platform to the brightest innovators and startups. Whether attendees are pitching, networking, or exploring, the Startup Stage will be the place where ideas take flight, and the future of tech unfolds. 

LEAP 2025 is expanding beyond the convention halls this year with LEAP Nights. Attendees can immerse themselves in Riyadh’s vibrant cultural scene, with an exciting lineup of dinners, meetups, and live entertainment. LEAP Nights will provide participants with the perfect backdrop for networking, socializing, and soaking in the city’s pulse — all whilst forging new connections across the global tech community. 

Faisal Alkhamisi, chairman of the SAFCP, said the new LEAP 2025 initiatives reflected the event’s role in mirroring the rapid pace of tech industry developments and hinted at even more to come.

“Over the past three years, LEAP has evolved at a rocket-fueled pace, playing a critical role in nurturing talent, creativity, and investment. Yet, this is just the beginning. LEAP will continue to reflect the ever-changing tech landscape and inspire pioneers from across the globe,” he said.

Michael Champion, CEO of Tahaluf, Saudi Arabia’s largest B2B event organizer and organizer of iconic brands LEAP, Cityscape, and Black Hat MEA, added: “By transforming LEAP, we are creating a more curated experience. Transitioning to a ticketed model will allow exhibitors and participants to benefit from direct access to a highly engaged and laser-focused audience, leading to more meaningful collaborations and business opportunities. This change reflects our commitment to delivering an event that continues to set the gold standard for tech innovation globally.”


Bateel expands into South Korea with luxury boutique

Bateel expands into South Korea with luxury boutique
Updated 09 December 2024
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Bateel expands into South Korea with luxury boutique

Bateel expands into South Korea with luxury boutique

Saudi luxury F&B brand Bateel International, renowned for its gourmet delights, has announced its expansion into Asia with the opening of its first boutique in Seoul, South Korea. The outlet opened in mid-November at the prestigious Lotte World Mall. This milestone marks a pivotal moment in Bateel’s global growth strategy, bringing its collection of premium organic dates, single-origin chocolates and gourmet products to a discerning audience in one of Asia’s most vibrant markets.

After years of evaluating international markets, Bateel identified South Korea as a prime destination for its boutique expansion. With a sophisticated consumer base that values health-conscious, trendy products, Seoul presents the perfect market for Bateel’s offering of organic and filled dates, artisanal chocolates and luxurious packaged gift sets. The location in Lotte World Mall, adjacent to the entrance of the renowned viewing deck, mirrors the brand’s successful presence at Dubai Mall, where Bateel boutiques attract thousands of global visitors.

“We are thrilled to enter the South Korean market,” said Bilal El-Kurjie, senior commercial director at Bateel. “Our presence in this key market allows us to bring the unique Bateel experience to new customers, starting with this iconic location at Lotte World Mall.” 

Bilal El-Kurjie, senior commercial director at Bateel International

The new boutique, larger than some of Bateel’s flagship stores in Saudi Arabia and the UAE, will offer the full Bateel experience. Customers will enjoy an extensive range of premium products, including Bateel’s organic dates, high-end single-origin chocolate collection, and bespoke packaging options, designed to cater to both local tastes and the international tourist market.

In addition to the boutique, Bateel plans to introduce its new Bateel El’an concept, a modern café format, in early 2025. This next phase will elevate Bateel’s presence in South Korea, offering dine-in, takeaway, and delivery options that showcase Bateel’s signature culinary excellence.

Central to Bateel’s expansion strategy is its commitment to sourcing the highest-quality ingredients globally. This dedication, paired with a focus on sustainability, aligns with the growing demand for responsibly sourced luxury products in South Korea.

“This expansion is the start of a new chapter for Bateel in Asia,” El-Kurjie added. “We have ambitious plans underway and look forward to further expanding our presence, starting with Seoul and soon moving into markets like Singapore.”

Bateel has established a strong global presence in more than 29 countries, with luxury boutiques and cafés in premium destinations across the GCC, Europe, and Asia.


Aramco-backed fintech Stake first platform to enable Saudi real estate investments from outside Kingdom

Yazeed Aldowayan, chief operating officer at Alrajhi Seventh, and Hanouf bin Saeed, general manager of Stake Saudi.
Yazeed Aldowayan, chief operating officer at Alrajhi Seventh, and Hanouf bin Saeed, general manager of Stake Saudi.
Updated 09 December 2024
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Aramco-backed fintech Stake first platform to enable Saudi real estate investments from outside Kingdom

Yazeed Aldowayan, chief operating officer at Alrajhi Seventh, and Hanouf bin Saeed, general manager of Stake Saudi.

Stake, a leading global digital real estate investment platform in the Middle East and North Africa region, has announced their official launch in the Kingdom. As the first platform regulated by the Capital Market Authority to afford individuals outside of the Kingdom the opportunity to invest into Saudi real estate, Stake is set to transform the investment landscape in the Kingdom.

In partnership with prominent developer Al-Rajhi Seventh, or RJ7, Stake has carefully selected an income-generating commercial building located in North Riyadh for its inaugural fund on the platform. As part of its launch, Stake has partnered with Mulkia Investment Company, a leading Saudi asset management firm. The collaboration focuses on establishing private real estate funds tailored for the Saudi market. These funds, managed by Mulkia and distributed through Stake’s digital platform, aim to lower the barrier to entry and make real estate investing into quality assets more accessible. Together, Stake and Mulkia will offer a robust pipeline of real estate opportunities, ranging from residential to commercial properties, all aligned with Vision 2030’s economic transformation goals.

Stake empowers investors with digital access to curated, Shariah-compliant real estate investments starting from as little as SR500 ($133) via its app. With a mission to democratize real estate ownership, Stake has already built a global community of over 800,000 users. Saudi Arabia’s dynamic and rapidly expanding economy plays a pivotal role in Stake’s strategic decision to enter the market. The Kingdom is forecasted to grow by 4.6 percent in 2025, making it one of the fastest-growing economies among G20 nations.

“Saudi Arabia is a cornerstone of Stake’s vision to redefine real estate investment,” said Manar Mahmassani, co-founder and co-CEO at Stake. “The Kingdom’s thriving economy and Vision 2030 initiative align perfectly with our mission to provide inclusive and borderless access to high-potential property markets. By entering Saudi Arabia, we are inviting investors worldwide to participate in its exciting growth story.”

At the helm of Stake’s Saudi operations is Hanouf bin Saeed, a financial industry veteran with over 17 years of experience. Her remarkable track record includes driving Riyad Bank’s non-bank financial institutions portfolio growth from SR1 billion to SR12 billion during her tenure. bin Saeed said: “Stake’s vision is revolutionary. By creating an ecosystem of trust and innovation, we are enabling individuals to build wealth like never before. I am honored to lead this mission in Saudi Arabia and look forward to shaping the future of real estate investment in the Kingdom.”

In June, Stake announced a $14 million Series A funding from top-tier investors like Aramco’s Wa’ed Ventures, one of Saudi Arabia’s largest VC’s, Mubadala Investment Company, Abu Dhabi’s Sovereign Investor and Al-Jomaih Holding, one of Saudi Arabia’s largest family conglomerates. Earlier this year, Stake was named as one of the top startups in 2024 by LinkedIn, and listed in the 2024 Top 100 Global Fintech list by CB Insights.

Stake is poised to redefine real estate investment in the Kingdom and beyond. The platform’s innovative approach to real estate ownership, transparency, and accessibility has the potential to bring about a change in how investors interact with property markets.