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.”

Estithmar Holding Q1 profit rises 50% to $46.7m

Updated 22 April 2025

Arab News

April 22, 2025 14:26

Estithmar Holding Q1 profit rises 50% to $46.7m

Updated 22 April 2025

Arab News

April 22, 2025 14:26

Estithmar Holding Q.P.S.C. announced a net profit of 170 million Qatari riyals ($46.7 million) for Q1 2025, reflecting a significant 50 percent increase compared to the same period last year. The company highlighted a 64 percent surge in revenue, reaching 1.3 billion Qatari riyals compared to 797 million Qatari riyals in Q1 2024. The gross profit rose to 416 million Qatari riyals, from 196 million Qatari riyals in Q1 2024. The EBITDA reached 273 million Qatari riyals, marking a 53 percent increase. The earnings per share also grew by 57 percent, reaching 0.047 Qatari riyals.

These strong financial indicators reflect the effectiveness of Estithmar Holding’s investment strategy, driven by continued growth across investment diversification, geographical expansion, and operational efficiency. International projects previously announced by Estithmar Holding started to have a tangible impact on its financial performance in revenue, profits and assets.

The results also reflect the achievement of one of the strategic objectives: a balanced contribution to profits and revenues from all four clusters — healthcare, services, tourism and real estate development, and contracting and industries — highlighting the clusters’ ability to pursue developmental and expansion plans under the company’s strategic vision. The rise in net profit stems from Estithmar Holding’s effective capital management and operational efficiency, aimed at delivering strong financial results and sustainable profitability while effectively managing risks.

The healthcare cluster posted significant growth in Q1 2025 driven by the cluster’s hospitals outside Qatar which contributed to revenue as new income streams, including Imam Al-Hassan Al-Mujtaba Hospital in Karbala, Al-Nasiriyah Teaching Hospital in Dhi Qar, Iraq, and Misrata Heart and Vascular Center in Libya. Moreover, the growing number of hospitals outside Qatar in Iraq, Algeria and Libya reflects the confidence that governments across the MENA region have placed in the quality of services provided by Apex Health, the healthcare subsidiary of Estithmar Holding.

The services cluster maintained market leadership in Qatar, especially in facilities management and catering. Expansion into Saudi Arabia, Jordan and Iraq also significantly contributed to the cluster’s profitability and the development of new income streams. These achievements reflect Estithmar’s growing role in supporting national strategies, operational excellence, tailored solutions, and long-standing client partnerships, which has positioned it as a trusted partner in both public and private sectors. As the region continues to prioritize quality service provision and sustainability, Estithmar is uniquely placed to meet rising expectations and scale its offerings to match demand.

The tourism and real estate development cluster stayed on track with project delivery, including Rixos Baghdad (Iraq) and Rosewood Maldives Resort, driving a 600-million-Qatari-riyal increase in company assets in Q1 2025. Additionally, enhanced efficiency boosted profitability in existing projects such as Lusail Winter Wonderland and Al-Maha Island. The cluster introduced a new operating model applied in flagship projects like Katara Hills, Maysan LXR Doha, and Al-Maha Island, contributing to profit stability.

The contracting and industries cluster also made a notable contribution to revenue and profit growth, especially at the peak phase of project deliveries in Saudi Arabia, including major projects such as the Red Sea Airport and the Yacht Club. The cluster also secured new projects with the Kingdom’s PIF companies and improved local operational efficiency, enhancing profitability in Qatar. These achievements reinforce the cluster’s position as a key player in regional infrastructure development, delivering large-scale projects with precision and consistency.

Overall, Estithmar Holding’s Q1 2025 results highlight sustained growth aligned with its strategy to increase shareholder value in the short and long terms. This performance reflects the company’s ability to execute with discipline, adapt to market shifts, and maintain a forward-looking approach that supports continuous innovation, regional expansion, and strategic partnerships across its core business clusters.

Commenting on the results, Group CEO Juan Leon said: “The exceptional rise in all financial indicators reflects the dedication of Estithmar’s team, and I look forward to working closely with them to build on Estithmar Holding’s growth story in Qatar and abroad. Estithmar Holding has demonstrated the ability to deliver sustained, diversified growth — both vertically and horizontally — paving the way for further expansion as investor confidence strengthens and our footprint continues to grow both locally and internationally, supported by a bold vision and strategic execution.”

For more information, visit https://www.estithmarholding.com/

DFDI Forum 2025 puts Pakistan at the forefront of global digital investment

Updated 22 April 2025

Arab News

April 22, 2025 13:44

DFDI Forum 2025 puts Pakistan at the forefront of global digital investment

Updated 22 April 2025

Arab News

April 22, 2025 13:44

In a bold move, placing Pakistan at the forefront of the global digital economy, the country has become the first in the world to roll out the Digital Foreign Direct Investment Initiative. Backed by the government of Pakistan and the Digital Cooperation Organization, this transformative launch is set to redefine how digital investment flows into emerging markets and who gets to shape the digital future.

With a vision built on innovation, inclusion, and international collaboration, the DFDI Initiative is unlocking new pathways to sustainable economic growth. It marks a turning point for Pakistan, not just as a participant, but as a regional trailblazer in digital transformation. As the 2026 DCO presidency looms, Pakistan is strategically positioning itself as a leader in the digital economy, poised to drive global conversations, partnerships, and innovations that will shape the future of digital investment.

Islamabad aims high: From capital city to ‘Davos of Digital FDI’

Islamabad is not just hosting the DFDI Forum 2025 — it is making a global statement. Poised to become the “Davos of Digital Foreign Direct Investment,” the city is opening its doors to tech visionaries, policymakers, and investors from 16 DCO member countries and beyond.

This is not business as usual. The forum is more than a conference — it is a launchpad for ideas, capital, and cross-border partnerships that will define the digital decade. Expect bold conversations, high-impact networking, and game-changing opportunities, all under one roof, in the heart of Pakistan’s capital.

A blueprint for digital growth: Pakistan’s DEP framework

At the core of this transformation is the Digital FDI-Enabling Policy, a comprehensive framework that lays the foundation for fast-tracked digital development across Pakistan and other emerging economies.

Designed for scale, agility, and investor confidence, the DEP focuses on four high-impact pillars:

● Building infrastructure: Investing in next-gen digital connectivity

● Accelerating adoption: Helping industries go digital, faster

● Fueling innovation: Backing cutting-edge tech solutions and startups

● Expanding digital exports: Scaling Pakistan’s booming IT and service sectors

These pillars work in unison to create a vibrant, investment-ready ecosystem where international capital meets local talent to spark exponential growth. This is not just a plan— it is Pakistan’s digital future, written with intention.

Why the world Is watching Pakistan’s digital ascent

The signals are clear: Pakistan’s digital economy is not just growing — it is accelerating.

With a 25.5 percent surge in ICT exports over just eight months, the country is fast emerging as one of the most dynamic digital investment frontiers in the Global South. From AI and fintech to cybersecurity, gaming, and cloud computing, Pakistan is building an innovation engine fueled by a young, tech-savvy workforce, favorable regulations, and a forward-leaning policy environment.

The DFDI Forum 2025 is your gateway to this transformation — your chance to be early, be bold, and be part of the next big frontier in global digital investment.

Not just talk — real deals, real connections

This is where ambition meets execution. DFDI Forum 2025 brings the entire digital ecosystem under one roof — startups, regulators, investors, development partners, and multinational tech leaders — in a space designed for meaningful engagement.

Through curated B2B meetups, high-level roundtables, and candid conversations with decision-makers, the forum is a hub of real-world deals and collaborative breakthroughs.

Whether you are scouting your next venture, exploring emerging markets, or building policy blueprints, this is the forum where ideas turn into action.

The global context: Why DFDI matters now

In an increasingly digital world, foreign direct investment must evolve. Traditional FDI models are being reshaped by data flows, digital infrastructure, and new modes of value creation. Yet many emerging markets remain underrepresented in global tech investment. That is why the DFDI Initiative and this forum matter.

By creating a shared framework for digital FDI, Pakistan and the DCO are providing a blueprint for other nations to follow — one that promotes trust, transparency, and technology transfer, while driving inclusive and resilient growth.

One forum. Endless possibilities. Every year.

By hosting this forum annually, Pakistan is signaling a long-term commitment to digital progress. It is not just about a moment, it is about momentum.

The DFDI Forum will be a living, breathing engine of change — a space where global actors return again and again to push boundaries, form alliances, and build the future of digital investment together.

Step into tomorrow with Pakistan leading the way

The DFDI Forum 2025 offers a front-row seat to a global digital shift. Be part of a movement that is transforming how, where, and why digital investments happen. From policy innovations to platform revolutions, witness firsthand the forces shaping tomorrow’s global economy.

Pakistan is open for innovation, inviting the world to co-create a future built on trust, tech, and transformation.

New Visa program empowers Saudi female footballers

Updated 20 April 2025

Arab News

April 20, 2025 22:25

New Visa program empowers Saudi female footballers

Updated 20 April 2025

Arab News

April 20, 2025 22:25

Visa, a global leader in digital payments, has announced the launch of its “She’s Next in Football” program in Saudi Arabia. Building on the success of the She’s Next programs in fashion and gaming in the Kingdom, this initiative is designed to empower and support women footballers in the Kingdom through mentorship, training, and exclusive opportunities with world-class football experts. In partnership with Saudi Awwal Bank and AC Milan Women, this program provides female athletes with a platform to develop their skills, gain mentorship, and experience world-class football training.

Women football players in Saudi Arabia are invited to apply for She’s Next in Football by completing and submitting the form available on Visa’s website, until May 5.

The finalists will be announced on May 21, and will participate in a training camp in Riyadh, where they will receive expert training and a certificate signed by Elisabet Spina, head of women’s football, AC Milan, and Suzanne Bakker, women’s coach, AC Milan. They will also have the unique opportunity to train with Farah Jefry, a distinguished Saudi footballer and midfielder for Al-Ittihad Women’s Football Club in Jeddah, who serves as the program’s brand ambassador.

In addition, the winner of the program will travel to Milan and enjoy a “Training with the PRO” two-week experience at the Puma House of Football, home to the women’s team’s training center, where they will train with professional athletes and coaches. The runner-up will receive a VIP visit to AC Milan’s training facilities, gaining behind-the-scenes access to one of football’s most renowned development programs.

Ali Bailoun, Visa’s regional general manager for Saudi Arabia, Bahrain, and Oman, said: “Women are driving change across industries, sports, and business, shaping the future through their contributions. As women’s football continues to grow, new pathways are opening for female athletes to access professional training, resources, and career development. As one of the world’s most active sponsors of women’s football, Visa is committed to strengthening the sport’s ecosystem at every level. By partnering with AC Milan Women and SAB, we are contributing to the long-term development of women’s football in the Kingdom. Investing in women’s sports is an investment in inclusion and economic empowerment, ensuring female athletes receive the recognition and opportunities they deserve.”

Rania Alsharyoufi, chief human resources officer, SAB, said: “At SAB, we believe in the power of sports as a driver for empowerment, inclusion, and long-term growth. Our partnership with Visa and AC Milan Women in the She’s Next Football program reflects our commitment to fostering opportunities for women in Saudi Arabia, helping them reach their full potential on and off the field. By supporting initiatives that promote skills, mentorship, and visibility, we are proud to contribute to a more inclusive and dynamic future for women’s football in the Kingdom.”

Spina, AC Milan’s head of women’s football, added: “At AC Milan, we are deeply committed to fostering the growth of women’s football worldwide, and we are proud to be part of the She’s Next in Football initiative. As a club with a rich history in developing and promoting the women’s game, we believe in the power of football to inspire and empower.

“This program represents a unique opportunity to support the next generation of female footballers in Saudi Arabia, providing them with world-class training, mentorship, and a pathway to grow in the sport.”

Jefry said: “I’m genuinely energized by this initiative and the remarkable opportunity it presents to ignite the passion of aspiring football players, empowering them to reach new heights in their athletic journey.”

Majid Al-Futtaim embarks on $1.4bn revamp of Mall of Emirates

Updated 20 April 2025

Arab News

April 20, 2025 22:25

Majid Al-Futtaim embarks on $1.4bn revamp of Mall of Emirates

Updated 20 April 2025

Arab News

April 20, 2025 22:25

Majid Al-Futtaim has announced a landmark 5-billion-dirham ($1.4 billion) investment to transform Mall of the Emirates into a next-generation lifestyle destination. Marking the mall’s 20th anniversary, the project represents a bold refounding of a regional retail icon. The “Mall of New Possibilities” vision will introduce new retail, dining, wellness, entertainment, and cultural offerings.

As part of the transformation, 20,000 square meters of additional retail space will be added, welcoming 100 new stores across luxury, fashion, and lifestyle categories. Moreover, 1.1 billion dirhams have already been allocated to major enhancements currently underway, including a new wellness club, cultural hub, dining precinct, and infrastructure upgrades.

Khalifa bin Braik, chief executive of Majid Al-Futtaim Asset Management, said: “Two decades ago, Mall of the Emirates set a new benchmark for retail and entertainment in the region. Today, we’re building on that legacy with a bold investment that redefines what a mall can be. This transformation goes beyond physical expansion — it’s about creating new ways for people to connect, unwind, and be inspired, all in one destination.

“As we mark 20 years, our focus is firmly on the future. By introducing world-class wellness, cultural, and dining experiences, we’re enhancing quality of life and supporting Dubai’s vision as a global city — all while remaining committed to innovation and sustainability at every step.”

Among the upcoming features is the SEVEN Wellness Club, bringing premium fitness, spa, and recovery experiences to the Kempinski Hotel. The “New Covent Garden” cultural hub, developed with Dubai Performing Arts Academy, will open in early 2025 and include a 600-seat theater and rehearsal spaces.

As part of the transformation, a new indoor-outdoor precinct will introduce a dynamic mix of fast-casual dining and interactive entertainment, designed to foster social connection and vibrant lifestyle experiences. At its heart will be the mall’s first-ever outdoor F&B courtyard, set to debut in early 2027. This adaptable space will transform into a lush green oasis during the cooler months, offering visitors a refreshing new way to enjoy the mall’s evolving culinary scene.

Majid Al-Futtaim is also redefining its entertainment portfolio to cater to all ages, with four new entertainment concepts set to launch by late 2026. Vox Cinemas has further enhanced its offering at the mall, debuting the world’s most advanced IMAX experience to deliver cutting-edge cinema for its audiences.

The investment also includes a full revamp of the West End district, modernizing its design and atmosphere to create a vibrant social hub. Infrastructure enhancements are already underway, including the rollout of the Parkin barrierless parking system, improved access roads, and bridge upgrades in collaboration with Dubai’s RTA, expected by September.

With sustainability at its core, the transformation will integrate energy-efficient technologies, smart systems, and eco-conscious design — reinforcing Majid Al-Futtaim’s commitment to shaping spaces that are innovative, inclusive, and future-ready. Mall of the Emirates is poised to redefine the retail experience for a new era.

Riyadh event to explore role of innovation in value creation

Updated 19 April 2025

Arab News

April 19, 2025 23:29

Riyadh event to explore role of innovation in value creation

Updated 19 April 2025

Arab News

April 19, 2025 23:29

The Gulf Petrochemicals and Chemicals Association, the voice of the chemical industry in the Gulf region, will explore the role of innovation in driving value creation and growth at the 14th GPCA Plastics Conference taking place on April 20-21 at JW Marriott Hotel, Riyadh.

Innovation is a driving force behind value creation in the GCC plastic industry, contributing to sustainability, economic growth, and technological advancements. Accelerating innovation plays a crucial role across product design, business models, and resource management, and can support efforts to achieve a circular economy in the GCC. Continuous innovation in polymer production and conversion technologies has enabled the GCC region to maintain a competitive edge in the global market. This includes advancements in recycling technologies and the development of new, sustainable materials.

Opportunities exist to leverage innovation for more sustainable production and economic growth. Research estimates say that every 1 million tonnes of recycled plastic produced in the GCC region can generate approximately 1,500 jobs and $650 million in direct GDP impact.

According to another study, advancements in chemical recycling technologies can reduce greenhouse gas emissions by up to 50 percent compared to traditional plastic production methods. The 14th GPCA Plastics Conference will provide an ideal platform to spotlight innovations in plastics recycling and discuss the role of regulations in creating an enabling environment for growth.

Dr. Abdulwahab Al-Sadoun, secretary-general of GPCA, said: “In the pursuit of the next paradigm of plastics growth, fostering innovation and collaboration will be essential to address the sustainability challenges of our time, while meeting the demand for sustainable plastics and ensuring socioeconomic growth. By fostering cutting-edge advancements and sustainable practices, we can enhance the plastic industry’s position as a dynamic driver of economic growth and environmental stewardship. The 14th GPCA Plastics Conference will serve as a beacon for visionary leaders and innovators from across the region and the world to collaborate and redefine the future of plastics for generations to come.”

Held under the theme “The Next Growth Paradigm: Value Creation through Innovation,” the conference will open with a welcome address by Khalfan Al-Muhairi, SVP regional MEAE, Borouge and vice chairman, plastics committee, GPCA, followed by a ministerial address outlining regional policy priorities.

Deena F. Al-Khayyal, managing director, LyondellBasell, will deliver a keynote address on “The Future of Plastics: Trends and Disruptions Shaping the Regional Industry.” A leadership dialogue moderated by Steve Jenkins, vice president, chemicals consulting, Wood Mackenzie, will explore “The Business Case for Sustainability: Turning Plastics Innovation into Profit.” The session will discuss how investing in green technologies, materials, and processes can be profitable in the long run and drive shareholder value, featuring insights from Khalid Al-Dawood, MD, NATPET; Unmesh Nayak, president — polymer chain, Reliance Industries, and Dr. Apostolos Krallis, vice president, innovation center, Borouge.

The program will continue with an in-depth panel discussion on “Building Sustainable Value — Innovation and Investment in Plastics Ecosystems,” which will highlight how seamlessly integrated ecosystems in production, feedstock, and logistics are crucial for driving innovation and value creation. The discussion will bring together senior industry executives, including Faisal Alsolami, executive vice president, finance and strategic planning, SIRC, and Dimitri Van Eekelen, vice president — commercial, SOHAR Ports and Freezone, to examine investment trends and new growth pathways. Another key session, “Turning Low-Value Plastic Waste into High-Impact Solutions,” will address the technical and economic challenges of collecting and processing lower-value plastic waste, featuring Don Thomson, founder and CEO, CRDC Global, and Peter Wang Hjemdahl, chief innovation officer and founder, rePurpose Global.

The afternoon sessions will advance the circularity agenda through a series of case studies, covering topics such as science-driven materials innovation, product design for a leaner plastics footprint, advanced recycling technologies, and consumer behavior change programs.

On Day 2, Naser Aldousari, CEO, EQUATE Group and Chairman, plastics committee, GPCA, will deliver the opening address. A multi-stakeholder dialogue will further explore regulatory trends shaping plastics waste management, focusing on policy innovations accelerating circularity, extended producer responsibility implementation, and the role of industry in compliance and sustainability progress. The discussion will be moderated by Noor Balfaqeeh, head of corporate affairs and communications, Unilever and chair, National Circular Packaging Private Committee — Federation of Saudi Chambers, who will be joined by senior policymakers and industry executives.

Red Sea International, Plaza Premium Group to pioneer lounge services