LEAP 2025 concludes with multi-billion dollar investments and global expansion

Updated 14 February 2025

Arab News

February 14, 2025 16:01

The fourth edition of LEAP 2025, held in Riyadh, has reinforced Saudi Arabia’s position as a global hub for artificial intelligence, cloud computing, and digital infrastructure investments, securing total investments exceeding $14.9 billion.

It was the region’s premier technology event, which concluded at the Riyadh Exhibition and Convention Center in Malham under the theme “Into New Horizons.”

The milestone highlighted the Kingdom’s growing influence in the digital economy and innovation landscape.

The success of LEAP 2025 is a testament to the unwavering support of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz, whose vision continues to drive Saudi Arabia’s digital transformation.

This aligns with Vision 2030’s objectives, solidifying the Kingdom’s leadership in technology, AI, and entrepreneurship.

As a global platform, LEAP brings together top thinkers, industry leaders, and investors to drive innovation and accelerate the shift toward a prosperous and sustainable digital economy.

Organized by the Ministry of Communications and Information Technology, in collaboration with the Saudi Federation for Cybersecurity, Programming, and Drones and Tahaluf Company, LEAP 2025 featured over 200,000 attendees; participation from 1,800 international and local entities; more than 1,000 global speakers; a showcase of 680 startups; and major deals with asset managers overseeing $22 trillion in portfolios

These figures underscore Saudi Arabia’s role as a global innovation hub, attracting top-tier companies and talent in the tech sector.

LEAP 2025 witnessed the announcement of landmark investments that will accelerate digital growth in the Kingdom, including a $1.5 billion partnership between Groq and Aramco Digital to boost AI-powered cloud computing investments; a $2 billion investment between Saudi-based Alat and China’s Lenovo to establish an advanced AI and robotics-driven manufacturing and technology hub; and the launch of several digital infrastructure and innovation projects, reinforcing Saudi Arabia’s position as a top destination for global tech investments.

Eng. Abdullah Alswaha, minister of communications and information technology, emphasized that LEAP 2025 reflects the Kingdom’s leadership in global technology innovation.

He said that the international investments and success achieved by Saudi Arabia’s technology sector "are a direct result of the support and empowerment" of the crown prince.

"This momentum drives Saudi Arabia toward its Vision 2030 goals, strengthening its position as a leader in AI, digital transformation, and entrepreneurship,” he added.

Faisal Al-Khamissi, chairman of the Saudi Federation for Cybersecurity, Programming, and Drones and Chairman of Tahaluf, said: “None of these achievements would have been possible without the support and vision of the crown prince, who has transformed Saudi Arabia into a global hub for advanced technology, innovation, and a sustainable digital economy.

“LEAP 2025 was not just a tech event — it was the largest and most impactful edition to date. It connected startups with investors, drove innovation, and unlocked new opportunities for entrepreneurs.”

Al-Khamissi added: "LEAP will expand globally, with two editions planned for 2026 — one in Riyadh and another in Hong Kong. This marks a significant step in Saudi Arabia’s leadership in the global digital economy and AI-driven innovation."

LEAP 2025 has already accelerated the growth of several startups, with notable success stories including Ejari, which started with a small booth at LEAP and secured a $1 million seed round, followed by another $15 million investment. It has since expanded its team to over 30 employees and attracted $50 million in business opportunities.

Data Lexing, a Saudi startup that debuted at LEAP 2022, has since expanded to 10 international markets with over 2,000 clients, 65% of whom are outside Saudi Arabia.

Quant secured $2 million in investment in a single day at LEAP.

With its record-breaking deals, global partnerships, and visionary expansion plans, LEAP continues to shape the future of AI, innovation, and technology investment worldwide.

ALJ Turkiye takes #1 position in auto sales

Updated 23 March 2025

Arab News

March 23, 2025 12:26

ALJ Turkiye takes #1 position in auto sales

Updated 23 March 2025

Arab News

March 23, 2025 12:26

ALJ Turkiye part of Jameel Motors (international), achieved its highest car sales in Turkiye during January and February of this year.

For the first time, they took the #1 position in auto sales in Turkiye. They achieved this great result out of 52 brands of cars in the auto market in Turkiye.

These results are based on the total car sales of 20.009 units made by ALJ Turkiye including Toyota and BYD sales.

Additionally, it represents the highest sales of units in the total market. These results represent a significant achievement for ALJ Turkiye as they are 58 percent higher than the same period last year, despite the overall 14 percent decline in car sales in Turkiye during February of this year

Red Sea International, Plaza Premium Group to pioneer lounge services

Updated 22 March 2025

Arab News

March 22, 2025 23:40

Red Sea International, Plaza Premium Group to pioneer lounge services

Updated 22 March 2025

Arab News

March 22, 2025 23:40

daa International has announced a groundbreaking strategic partnership with Plaza Premium Group, a global leader in airport hospitality, for the management of premium hospitality services at Red Sea International Airport.

This collaboration will see PPG implement its exceptional Plaza Premium First standards in Saudi Arabia for the first time, further reinforcing RSI’s position as a best-in-class airport that blends seamless efficiency with first-class hospitality.

The Plaza Premium Group will manage a range of premium services that include four premium lounges for passengers, five F&B outlets, and seven dining rooms catering to airport staff. In a first for Saudi Arabia, the premium departure lounges will deliver a fully a la carte dining experience for all passengers as a luxurious final touchpoint on their departure journey.

Andrew Tyler-Smith, chief executive officer of RSI, said: “Our partnership with Plaza Premium Group marks an exciting step forward in delivering an elevated airport experience. By combining our expertise in airport management with Plaza Premium Group’s global excellence in hospitality, we are setting a new standard for comfort, service, and innovation. We look forward to welcoming travelers to our premium lounges and dining spaces, where every detail is designed to enhance their journey.”

The new RSI airport has been thoughtfully designed to draw inspiration from the natural beauty of the desert, the serenity of a green oasis, and the vastness of the sea. This innovative design aims to eliminate the usual stresses associated with travel, offering passengers a tranquil and memorable experience from the moment they arrive.

The terminal’s architecture is crafted to bring the exclusive feel of a private aircraft terminal to every traveler. By creating smaller, intimate spaces, the airport ensures a luxurious and personalized experience for all passengers. The lounges and F&B outlets will be meticulously designed to provide a luxurious and relaxing environment, perfectly aligning with the sustainable and high-end ethos of The Red Sea destination.

Bora Isbulan, deputy CEO of Plaza Premium Group, commented on the partnership: “We are thrilled to join forces with Red Sea International Airport at this groundbreaking airport. With the Kingdom of Saudi Arabia at the forefront of our strategic priorities and significant investments allocated for the region, we take immense pride in this partnership. As the global leader in airport hospitality solutions with the largest network of lounges worldwide, we will leverage our expertise to transform this sustainable gateway into a luxury destination for discerning travelers. Our world-class teams, award-winning services and integrated technology solutions deliver personalized journeys at every touchpoint. This collaboration perfectly aligns with our commitment to elevating airport experiences while supporting the Red Sea destination’s vision for responsible luxury tourism.”

Okan Kufeci, senior vice president, EMEA of Plaza Premium Group, said: “Our strategic partnership with Red Sea International Airport marks a significant milestone in our portfolio expansion across Middle East. By introducing Plaza Premium First standards to Saudi Arabia, we are not only enhancing the travel experience but also reinforcing our commitment to delivering exceptional hospitality solutions globally. This collaboration is a testament to our ongoing efforts to innovate and elevate airport services, setting new benchmarks for comfort and luxury.”

SCC, HPDC to expand coffee in the halal market

Updated 22 March 2025

Arab News

March 22, 2025 23:39

SCC, HPDC to expand coffee in the halal market

Updated 22 March 2025

Arab News

March 22, 2025 23:39

The Saudi Coffee Company and Halal Products Development Company have announced the signing of a strategic cooperation agreement aimed at enhancing collaboration between the coffee industry and halal sector, expanding access to coffee products through certifications.

This strategic partnership between two subsidiaries of the Public Investment Fund will allow SCC and HPDC to explore opportunities for halal certification, knowledge exchange, and market expansion.

The agreement outlines cross-party cooperation across workshops and market awareness, data and market research, training and development, and halal certification and compliance.

Speaking at the signing, Mohammed Zainy, chief marketing and communications officer at SCC, said: “As the global demand for halal-certified products continues to rise, this partnership enables us to engage with new markets and explore innovative ways to meet the needs of halal-conscious consumers. We are excited to expand our reach with HPDC and offer high-quality, halal-certified Saudi coffee to a broader audience.”

Halal Products Development Company, a PIF company, aims to strengthen capabilities within Saudi Arabia’s halal sectors and the global halal ecosystem. Through its investment and advisory services, the company empowers its partners by providing the necessary resources and expertise to achieve their strategic objectives. Additionally, HPDC works to build a dynamic and sustainable halal ecosystem both locally and globally, supporting the goals of Saudi Vision 2030 in driving economic growth and diversification.

“This exciting collaboration, strengthening Saudi coffee in the global markets and enhancing Saudi Arabia’s position at the heart of the global halal market. Together, we aim to support the growth of halal industries worldwide,” said Dr. Sarah AlMugairin, adviser to the CEO of Halal Products Development Company.

The partnership between SCC and HPDC aligns with both entities’ efforts towards key Vision 2030 objectives, including economic diversification, sustainability, and the expansion of halal-certified industries.

New Murabba reinforces global investor appeal at real estate event

Updated 22 March 2025

Arab News

March 22, 2025 23:37

New Murabba reinforces global investor appeal at real estate event

Updated 22 March 2025

Arab News

March 22, 2025 23:37

New Murabba, a Public Investment Fund company, participated in the real estate event “MIPIM 2025,” held from March 11-14 in Cannes, France. This year’s participation aimed to enhance international investment in the Kingdom and highlight its commitment to economic diversification.

According to a company press release issued recently, New Murabba’s presence at MIPIM 2025 featured a series of insightful sessions led by key executives. These sessions provided attendees with a deeper understanding of New Murabba’s strategic vision and its alignment with Saudi Arabia’s broader development goals.

CEO of New Murabba Michael Dyke took part in a panel discussion titled “How the Saudi Giga Projects Are Contributing to the Kingdom’s Economy and Vision 2030.”

“We are committed to collaborative development and world-class execution. New Murabba has completed 14 million cubic meters of excavation while achieving 5.5 million safe hours without lost-time incidents. This milestone enables the commencement of permanent works for The Mukaab, ensuring the groundwork is set for the next phase of construction,” said Dyke.

He also added that this progress underscores New Murabba’s dedication to delivering a world-class destination that will redefine urban development and contribute to a vibrant live-work-visit offering within the project.

EPMO and Stakeholder Management Division Head Eissa Almunif contributed to the panel “Changing Demographics in Saudi Arabia and How This Affects Development Planning.”

Development Director Ashwaq Albabtain joined the panel “Mega Events, Hospitality, and Leisure,” while Executive Director of Capital Partnerships Development Nida Raza participated in the discussion “The Evolving Real Estate Sector in Saudi Arabia.”

Director of Healthcare and Education Development Reham Alawaji took part in the panel “Creating Livable Cities with Purpose.”

These sessions provided valuable insights into the development’s strategic relevance and its potential to reshape the urban landscape.

barq achieves new heights in financial services through strategic collaboration with Western Union

Updated 22 March 2025

Arab News

March 22, 2025 04:17

barq achieves new heights in financial services through strategic collaboration with Western Union

Updated 22 March 2025

Arab News

March 22, 2025 04:17

barq has announced a strategic partnership with Western Union, a global leader in international money transfers. This collaboration aims to redefine remittance services in the Kingdom, enabling millions of users to send and receive money through the barq app with unmatched ease and security.

By combining Western Union's extensive global payment network with barq's advanced financial technology, users can now enjoy immediate access to international money transfer services directly within the barq app. This partnership aligns seamlessly with the goals of Saudi Vision 2030, which focuses on accelerating digital transformation and fostering financial inclusion across the Kingdom.

Through this integration, barq users will benefit from enhanced convenience, faster transactions, and the ability to send money globally with a trusted, world-class partner. The partnership ensures secure international transfers at competitive rates while significantly reducing the time and effort required, thanks to Western Union's network spanning over 200 countries.

Faisal Al-Khamisi, chairman of barq, stated: "This partnership represents a new strategic step that positions barq at the forefront of financial innovation. It aligns with the Kingdom's Vision 2030, which aims to accelerate digital transformation and promote financial inclusion. At barq, we believe that providing advanced financial solutions is not limited to offering payment services alone but extends to transforming the user experience. This is what we are achieving today through this integration, which provides easy, fast, and secure international remittance services to millions of users, strengthening barq's position as one of the most important players in the digital financial sector."

This partnership underscores barq's commitment to financial empowerment and innovation, solidifying its position as a leading digital financial services company in Saudi Arabia.

Notably, barq is the fastest-growing digital wallet in the Kingdom, boasting over three million satisfied users in record time since its launch. It continues to enhance user experiences and deliver world-class financial services through groundbreaking partnerships and alliances.

LEAP 2025 concludes with multi-billion dollar investments and global expansion