The General Authority of Civil Aviation (GACA) and a number of the Kingdom’s international airports participated in the Amsterdam Passenger Terminal Expo. The event, which took place in Amsterdam last week, is considered an advanced sales and marketing platform for the airport industry. It offers a unique environment that enables goers to hit a variety of sales and marketing targets, as well as showcase the latest advancements in the airport and terminal industry.
Abdulaziz bin Abdullah Abohaimed, the Saudi ambassador to the Netherlands, visited the authority’s display at the expo and was impressed with the young participants. He noted that the Kingdom’s participation in such expos helps the world better know and understand the country’s civilizations and cities.
“What I saw in the GACA section brought about feelings of pride and honor. It reflects the great work done by the authority in many of the Kingdom’s airports. Their participation in the expo has enabled others to see one of the elements of the Kingdom’s development,” he said.
Abohaimed highlighted the importance of airports as being the main determinant behind a visitor’s first impression. He said the Kingdom’s airports are currently undergoing vast and quick developments, and also pointed to the distinct role of the GACA over the past two years.
Bassem bin Abdullah Al-Salloum, assistant to the president of corporate communications and marketing at the GACA, said: “Participating in this global gathering is an opportunity to strengthen the Kingdom’s position and enhance relationships with our partners around the world. More importantly, the authority’s presence in this expo will enable us to directly network with different entities related to civil aviation so we can effectively build customer relationships.”
“It’s an opportunity for us to meet with the administrators of airports and airlines and other specialized entities in this sector. The expo will also offer the latest communication technologies and wireless applications, as well as elements related to airport security and engineering developments in terminal constructions, baggage handling, lighting, services and so on,” he added.
Through its participation the GACA showcased the authority’s role in the privatization of the civil aviation sector, in addition to its investments and projects, which include the construction and development of airports and airport cities.
Participating airports included King Khaled International Airport in Riyadh, King Abdulaziz International Airport in Jeddah, King Fahd International Airport in Dammam and Prince Mohamed bin Abdulaziz International Airport in Madinah.
GACA participates in Amsterdam Passenger Terminal Expo
GACA participates in Amsterdam Passenger Terminal Expo
Unlocking Frontier Markets: Private sector leadership key to reshaping global development
The World Economic Forum Annual Meeting, held in Davos from January 20–24, convened global leaders from government, business, and philanthropy under the theme “Inspiring Action. Driving Impact.”
It spotlighted opportunities to foster resilience and sustainable development, particularly in fragile and frontier markets.
Against this backdrop, the panel session titled “New Development Actors for the 21st Century” explored the critical role of the private sector in complementing traditional aid models and addressing systemic challenges in vulnerable economies.
Moderated by Mirek Dušek, managing director at the World Economic Forum, the discussion featured leaders including Badr Jafar, special envoy for business and philanthropy, UAE, and CEO of Crescent Enterprises; Hassan Sheikh Mohamud, Somali president; Ernesto Torres Cantu, head of International at Citi; and Anna Bjerde, managing director of the World Bank.
During the session, Jafar emphasized the transformative potential of frontier markets in driving global growth and resilience.
“Frontier markets represent one of the greatest opportunities of our time to create systemic and sustainable global progress. Home to 85 percent of the world’s population, they are poised to host 80 percent of the global middle class by 2030. Yet traditional aid models continue to fall short of addressing the scale of challenges we face. The private sector must go beyond conventional philanthropy and adopt a strategic investment approach, one that fosters resilience, empowers communities, and delivers measurable, long-term prosperity,” Jafar said.
He highlighted the vast potential of the global impact-investing market, which now exceeds $1.5 trillion, and the untapped opportunities in $450 trillion of global private wealth.
Jafar added: “With the global impact-investing market exceeding $1.5 trillion, and untapped private wealth standing at $450 trillion, the resources required to drive transformative change are available. What is needed now is a framework that aligns these resources with measurable development goals, unlocking the innovation and entrepreneurship inherent in frontier markets.”
The session underscored the critical need for innovative, market-driven approaches to address systemic challenges in fragile and frontier markets.
By fostering collaboration across sectors and empowering local actors, the private sector can play a transformative role in shaping sustainable and inclusive development, the session heard.
As global humanitarian needs continue to outpace traditional funding models, leaders are driving the dialogue toward a future where strategic investments unlock the vast potential of frontier economies, ensuring they emerge not just as beneficiaries, but as architects of global resilience and growth.
The session was part of the World Economic Forum’s Humanitarian and Resilience Investing Initiative, launched in 2019 to unlock impact investing in frontier markets.
This initiative brings together over 100 partners across sectors to increase the resilience of at-risk and crisis-hit communities.
Building on a high-level dialogue chaired by former US Secretary of State Anthony Blinken and co-sponsored by UK Foreign Secretary David Lammy, IDB President Ilan Goldfajn, and Børge Brende during the UN General Assembly, the HRI Initiative continues to champion collaborative approaches that bridge private capital with sustainable development goals in fragile economies.
The World Economic Forum continues to serve as a catalyst for global action, advancing partnerships across sectors to create a more inclusive and resilient future.
Drone Racing World Cup kicks off today, with prizes worth SR1.3m
The Drone Racing World Cup, sponsored by Riyadh Season, has commenced today at Boulevard City in Riyadh. Organized by the Saudi Federation for Cybersecurity, Programming, and Drones, in collaboration with the World Air Sports Federation, the event takes place from Jan. 23 to 25.
This tournament, the first of its kind in the Middle East and North Africa since its inception in 2016, highlights Saudi Arabia’s commitment to the sector. The event offers participants and visitors prizes exceeding SR1.3 million ($346,470).
This edition features world champions in drone racing, including Kim Minjae, winner of the 2024 FAI World Drone Racing Championship; Killian Rousseau, winner of the 2023 FAI Drone Racing World Cup; Yuki Hashimoto, also winner of the 2024 FAI World Drone Racing Championship; Luisa Rizzo, winner of the 2024 Women’s FAI Drone Racing Championship; Min Chan Kim, winner of the 2023 FAI World Drone Racing Championship; Wanraya Wannapong, runner-up of the 2024 Women’s FAI Drone Racing Championship; Pawel Laszczak, runner-up of the 2023 Drone Racing World Cup; Jacob Capobres, runner-up of the 2023 FAI World Drone Racing Championship; Choi Wongyun, who placed third in the 2024 Drone Racing World Cup; and Roland Ronto, who placed third in the 2023 Drone Racing World Cup.
Several Saudi pilots will also compete, including Muhannad Al-Wohaibi, Ibrahim Al-Sultan, Dalia Al-Safar, Al-Anoud Al-Shalaan, Bader Mutlaq Al-Raqqas, Nawaf Al-Hamoud, and Salma Attallah Al-Aqbi.
The qualifying rounds, which start today, will continue until midday Friday, followed by the finals on Saturday.
The event hosts an activity zone featuring various accompanying activities, including a Drones Hub for teaching amateurs and professionals, a Drag Racing Zone for speed competitions on a straight path, a Fly Free Zone designed for testing and operating drones, a VR Drone Racing simulation using virtual reality glasses, Drone Workshops for training, designing, assembling, and building drones, and a Fans Zone dedicated to watching the Drone Racing World Cup competitions.
This edition marks the inaugural season of the Drone Racing World Cup, consisting of a series of rounds held in leading countries in the drone racing field.
NEOM, NTDP to drive Web3 growth in Kingdom
NEOM and the National Technology Development Program have launched a strategic partnership to advance the growth of the Web3 ecosystem in Saudi Arabia. Leveraging their combined strengths and resources, the collaboration will establish comprehensive accelerator programs designed to support selected startups with mentorship, funding opportunities and vital industry connections.
Marking the partnership’s debut achievement, Outlier Ventures — the world’s leading Web3 accelerator — has joined forces with NEOM and NTDP to launch the FutureSpark Base Camp Accelerator Program, Saudi Arabia’s first deep-tech Web3 accelerator program. Ten startups were selected in the program’s first cohort, following a rigorous application process via Outlier Ventures’ website.
The inaugural 12-week program, which has been running since October 2024 in Riyadh, concluded with a four-day workshop in NEOM from Jan. 12-15. The program has empowered entrepreneurs to refine their business models and enhance their market strategies, equipping them to navigate the rapidly evolving Web3 landscape. Through personalized guidance and access to a network of industry experts, the program accelerates growth of startups by providing the tools and insights necessary for success in a competitive environment. Participants of the program benefit from Outlier Ventures’ expertise through workshops, networking opportunities and practical resources, fostering a collaborative community to help drive the future of the Web3 ecosystem.
This partnership between NEOM and NTDP supports the most promising founders across key technology sectors. With a focus on industries where the region holds emerging potential — such as cognitive cities, artificial intelligence, digital identity and gaming — the selected cohort has access to essential resources to build industry-leading startups.
Aligning with the goals of Saudi Vision 2030, the FutureSpark Base Camp Accelerator Program supports early-stage entrepreneurs and drives technological advancement in the Kingdom. Through accelerating the local deep-tech Web3 landscape, the program plays a pivotal role in fostering innovation and cutting-edge technologies.
Saudi online trading app Sahm crosses 1m users in one year
Sahm, the first all-in-one online trading platform in Saudi Arabia, celebrated a significant milestone with its users at a workshop in Riyadh. The event marked Sahm’s remarkable achievement of surpassing 1 million users within just one year of its launch. The workshop provided an opportunity for investing influencers, users, and Sahm app developers to share insights, forge valuable connections, and grow together.
During the workshop, Sahm Capital’s General Manager Hadeel Bedeeri delivered an inspiring presentation, reflecting on the app’s journey from its launch on Dec. 26, 2023, to its rapid growth and the milestone of 1 million users by the end of 2024. “Our growth is a testament to the trust our users have placed in us,” Bedeeri said. “Sahm app was built around the needs of our users, and today, we are proud to see the app become an integral part of their investment journeys.”
Turki bin Mohammed Al-Namasi, a user of the Sahm app, traveled more than 600 km to attend the workshop. He said: “Sahm app is one of the platforms I trust deeply. Their clear policies, diverse programs, and genuine commitment to the community and financial awareness set them apart. I owe my confidence to God and the leadership of their exceptional team and board.”
Abdullah Almalki, another user, praised Sahm’s ease of use and flexibility: “What truly stands out about Sahm is its seamless access to both Saudi and US markets. It allows me to diversify and manage my investments in one place, opening up global opportunities at my fingertips. The ability to trade across multiple markets without barriers is a feature I genuinely appreciate. I’ve recommended it to everyone I know because it makes investing so simple and efficient.”
In celebration of its first anniversary and 1 million users, Sahm launched a special giveaway campaign, offering SR1 million ($266,530) in rewards. This campaign is designed to thank existing users for their continued support and to encourage new users to join the growing Sahm community.
During the workshop, Bedeeri revealed Sahm’s future plans, which include expanding its financial products, introducing new features, and providing comprehensive financial learning resources to enhance investors’ knowledge.
“The world changes, markets change, and so do users’ needs. Staying still is not an option for us,” she said. “Our mission has always been to stay focused on our users. Their needs guide every update, every feature we add. We evolve, so users can continue to trust us to give them what they deserve.”
Cenomi Centers welcomes S&PGR’s assessment of $1.6bn existing sukuks
Cenomi Centers, Saudi Arabia’s leading owner, operator and developer of shopping malls, has welcomed Standard and Poor Global Rating’s assessment of two of its existing sukuk issuances totaling $1.6 billion, providing “BB-” issue ratings for Sukuk II (2026) and Sukuk III (2029).
The instrument rating follows S&PGR’s assignation to Cenomi Centers of a “BB-” (stable) company rating in December, finding that it expects EBITDA growth over the course of 2025, citing strong footfall and the upcoming Jawharat developments as reasons for optimism.
S&PGR announced the rating of existing issuances for Cenomi Centers’ Sukuk II, due in October 2026 and valued at $875 million, and Sukuk III, due in March 2029 and valued at $710 million, reporting that the sukuks met the agency’s criteria for assessment.
The rating recognizes Cenomi Centers’ continued strong performance, with the business’ most recent results in Q3-24 recording a 3.4 percent y-o-y increase in total revenue. Comparing nine-month results from the period, Cenomi Centers delivered steady growth with an increase in revenue of 2.9 percent (9M-24) compared to the same period in the previous year, driven by the grand opening at U Walk Jeddah, increase in occupancy and increase in both media sales and ancillary revenue streams.
The existing sukuk issuances represent a strategic financial move that has strongly resonated with a broad investor base, positioning the company for sustainable growth.
Alison Rehill-Erguven, CEO, Cenomi Centers, said: “We welcome S&PGR’s acknowledgement of our stability and commitment to long-term growth strategies that will drive forward our ambitions to be the largest and one of the most innovative mall developers and operators in the Middle East. Our issuance of these sukuks not only opens up new avenues for investment but also aligns with the values of a significant segment of the global investment community. By opting for sukuk, Cenomi Centers is not just raising capital; it is making a statement about its corporate values and its vision for the future.
“Cenomi Centers has an incredibly exciting year ahead, with our flagship projects Jawharat Riyadh and Jawharat Jeddah progressing well, and occupancy and leasing demand levels continuing to be high across all of our sites.”
