InterContinental Hotels Group (IHG), one of the world’s leading hotel companies, has announced the opening of Staybridge Suites Jeddah Alandalus Mall.
The mall is an important shopping destination in Jeddah with an annual visitor rate exceeding 13 million visitors.
The hotel’s connection to Alandalus Mall makes it an attractive location for families as well as transit guests to Makkah, IHG said in a statement.
The hotel is linked to important roads to the south, west and east, including King Abdullah Road and Prince Majed Road, which connect it to the new King Abdulaziz Airport, with a commute of less than 15 minutes. The hotel is also close to Al-Haramain train station, allowing guests to reach the Grand Mosque in less than 20 minutes.
Hathal Al-Utaibi, chief business development officer, Alandalus Property Co., said: “We are honored and delighted to partner with IHG in order to launch Staybridge Suites in Saudi Arabia. The Kingdom maintains the largest economy in the Middle East, and as a result, corporate travel within the country, and particularly in Jeddah, is considerable.
“As the GCC’s economy continues to expand, Jeddah will continue to grow as a commercial hub for industries such as engineering, real estate, construction, and IT/telecommunications. This means an ever-increasing number of visitors who need long stay options in the city. Staybridge Suites Jeddah Alandalus Mall now offers business travelers a world-class extended-stay experience whenever they make Jeddah their home-away-from-home.”
The new hotel will comprise 164 suites: a mix of studios, one- and two-bedroom suites, complete with spacious living areas, fully equipped kitchens, guest laundry rooms and high-speed Internet connections. Additionally, the Jeddah Alandalus Mall location will offer seven meeting rooms, a banquet hall, outdoor swimming pool, a spa, a gym, and a business center.
Pascal Gauvin, chief operating officer — IMEA, IHG said: “As part of IHG’s diverse family of brands, Staybridge Suites endeavours to provide guests with the best extended-stay experience possible. We believe our unique offering, coupled with an excellent location near the heart of Jeddah, will allow Staybridge Suites to serve the needs of Saudi Arabia’s families, religious and leisure tourists, and business travelers alike.”
InterContinental opens Staybridge Suites in Jeddah
InterContinental opens Staybridge Suites in Jeddah
18th Asian Financial Forum wraps up, positioning Hong Kong as global financial hub
The 18th Asian Financial Forum, co-organized by the Hong Kong government and the Hong Kong Trade Development Council, successfully wrapped up on Jan. 14 under the theme “Powering the Next Growth Engine.” This year’s forum attracted more than 3,600 global financial and business elites from over 50 countries and regions. The event leveraged Hong Kong’s role as an international financial center to strengthen the international communication platform, foster multilateral cooperation and promote mutually beneficial outcomes. Three high-level Mainland China officials attended the opening session of the AFF, including Zhou Ji, executive vice director of the Hong Kong and Macao Affairs Office of the State Council of China; Dr. Pan Gongsheng, governor of the People’s Bank of China; and Liu Zhenmin, special envoy for climate change of China.
As the year’s first large-scale international financial and business event in the region, the atmosphere at the AFF was vibrant and charged with a positive energy. The forum showcased emerging perspectives across the diverse sessions, all of which were well-attended and well-received by speakers and audiences alike. Leaders from around the world actively engaged in discussion throughout the two-day event, with more than 130 policymakers, international financial and multilateral organization representatives, financial institutions, and global corporate leaders joining as speakers.
The speaker at the keynote luncheon on the first day of this year’s AFF was Professor Justin Lin Yifu, chief economist and senior vice president of the World Bank (2008-2012), who delivered an in-depth analysis of the shifting global economic landscape. Yifu said: “In terms of purchasing power, China has the largest domestic market in the world. I think China can reach a 4.5 percent growth rate on average annually between 2019 and 2049. Thus, China will continue to contribute around 30 percent of growth to the world every year. It’s good not only for China, but also will be the most important asset of Hong Kong in the coming years.”
Another keynote luncheon focused on “AI: Future Industries and Implications,” with Professor Stuart Russell, co-chair of the World Economic Forum’s Council on AI, sharing his insights into the development, application and governance of generative AI. Russell said: “We could build AI systems that are guaranteed to further human interests but we aren’t. Some may worry that the machines that we are building will become conscious and lose control, but competence should actually be the topic that we worry about. As history shows, we cause species to become extinct due to our competence, not our consciousness. We are training them to have human-like objectives, and that is a fundamental mistake. I am hoping that if we design the AI system well enough, they themselves will refuse to contribute to the enfeeblement of the human race.”
Another AI expert, Dr. Kai-Fu Lee, chairman of Sinovation Ventures, also addressed the transformative power of AI and its impact on technological advancements in the global business ecosystem during a dialogue session.
In alignment with the HKSAR government’s initiatives to promote sustainable development in Hong Kong, sustainability emerged as a key focus at the forum. A session featured experts including Sue Lloyd, vice chair of the International Sustainability Standards Board, who delved into the adoption of financial disclosure standards to enhance confidence in Hong Kong’s capital markets. Other discussions related to sustainable development included a breakfast panel dedicated to transition finance and two more sessions on sustainable investment and “Post-COP29 Implementation: Enhance Climate Ambition and Enable Financing Action,” during which Zhenmin, China’s special envoy for climate change, gave remarks.
The last day saw the debut of the GCC Chapter, jointly organized by the AFF and the GCC. Christopher Hui, secretary for financial services and the treasury of the HKSAR government, and Jasem Mohamed Al-Budaiwi, secretary-general of the Cooperation Council for the Arab States of the Gulf, delivered keynote remarks. Financial officials and representatives from Oman, Qatar, Saudi Arabia and the UAE joined industry leaders from Hong Kong to share updates on economic developments in the Gulf region, highlight future investment opportunities, and examine ways to strengthen financial cooperation and investment between the member states of the GCC and Hong Kong.
In addition, pioneers from a range of industries actively participated in sessions such as CIO Insights, Dialogues for Tomorrow and Global Spectrum, focusing on hot topics ranging from fintech and capital markets to female entrepreneurship and philanthropy. One of the heavyweight speakers at this year’s AFF was Joe Tsai, chairman of the Alibaba Group, who shared his views at a fireside chat moderated by Ronnie Chan, honorary chair, Hang Lung Properties Limited, on how large companies spur economic development in a session titled “Global Spectrum — The Role of Large Companies in Supporting Startups and Social Enterprises.”
Real-time polling was conducted during the forum to gauge participants’ views on various topics, such as the global economic outlook and China opportunities. It indicated that generative AI-led innovation (41.6 percent) and non-AI innovation, including digital infrastructure and healthcare (23 percent), were seen by participants as the most critical growth engines in the Asia Pacific region. Meanwhile, generative AI (31.4 percent) and advanced manufacturing (20 percent) were seen as the most promising growth sectors in Mainland China.
This year’s AFF Deal-making, co-organized by the HKTDC and the Hong Kong Venture Capital and Private Equity Association, brought together more than 270 investors and over 560 investment projects, with more than 700 one-on-one meetings held, covering a wide spectrum of sectors such as fintech, healthtech, deep tech, consumer goods, infrastructure and real estate, environment, energy and environmental technology. The meetings helped to connect funds and investment projects from across the globe.
As always, the AFF featured several exhibition zones, set up with the aim of creating business connections and promoting networking, including the Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon, and the Global Investment Zone. These zones featured more than 140 exhibitors including international financial institutions, technology companies, startups, investment promotion agencies and sponsors such as AFF Knowledge Partner EY, along with HSBC, Bank of China (Hong Kong), Standard Chartered Bank, UBS, Prudential, China International Capital Corporation and Huatai International and more.
Three other events ran concurrently with the AFF across the two days. The Hong Kong International Fundraising Roundtable 2025 convened C-suite leaders from overseas and mainland enterprises with Hong Kong’s financial and professional service providers to address pressing financing and fundraising needs. The Malaysia–Hong Kong Islamic Finance Roundtable, co-organized with Malaysia International Islamic Financial Center Leadership Council, facilitated the development of cross-border financial activities between Hong Kong and Islamic economies represented by Malaysia. Additionally, the Family Office Symposium, co-organized with the Private Wealth Management Association, spotlighted Hong Kong’s advantages as a premier family office destination and explored current investment trends.
NMDC Energy opens advanced fabrication yard in Kingdom
NMDC Energy, a provider of engineering, procurement and construction services for offshore and onshore energy clients, and a majority-owned subsidiary of the UAE-based NMDC Group, has opened an advanced fabrication yard in Ras Al-Khair, located in Saudi Arabia’s Eastern Province. The move represents the next phase of the company’s strategic regional and global growth. Equipped with the latest features in automation and digitization, the facility also incorporates the latest fabrication processes and boasts a production capacity of 40,000 tonnes per year.
The yard was officially inaugurated in the presence of Eastern Province Gov. Prince Saud bin Nayef at the iktva Forum and Exhibition 2025, taking place at Dhahran Expo between Jan. 13 and 16.
The 400,000-square-meter state-of-the-art yard, part of the Ras Al-Khair Special Economic Zone, will provide offshore facilities fabrication as well as onshore modularization. The fabrication yard will form part of an end-to-end solution in a wider maritime and offshore cluster, which is designed to support the industry. NMDC Energy has invested 200 million dirhams ($54.4 million) into its Ras Al-Khair yard to provide productive, safe and environmentally sound facilities, and it will embed the latest technologies to deliver efficiencies and reduce environmental impact.
Over the past five years, NMDC Energy has reinjected SR5 billion into the Saudi economy and industry, to support positive economic impact in the Kingdom, and the yard is a key milestone in its efforts to support Saudi Arabia’s economic priorities.
Mohamed Hamad Almehairi, chairman of NMDC Energy, said: “The inauguration of the Ras Al-Khair yard represents a bold and exciting new chapter for energy cooperation for both the UAE and Saudi Arabia, which will bring vast tangible benefits to both nations. We’re proud that NMDC Energy will serve as an engine of economic development by powering priority industries, enabling businesses, and advancing solutions across the energy value chain. We foresee vast opportunities to collaborate and to pursue projects in areas that will maximize the value of the resources in both our nations as well as ensure that the UAE and Saudi Arabia remain leaders in the regional energy transition.”
Yasser Zaghloul, CEO of NMDC Group, said: “The Ras Al-Khair fabrication yard is a testament to NMDC Energy’s commitment to supporting Saudi Arabia’s infrastructure ambitions and delivering world-class energy solutions. We are proud to contribute to projects that drive sustainable growth and innovation, creating value for industries and communities alike. This milestone reinforces our shared vision of excellence and strengthens our role as a trusted partner in the region’s energy transformation.”
Ahmed Al-Dhaheri, CEO of NMDC Energy, added: “At NMDC Energy, we understand that the essence of Saudi Vision 2030 is that it seeks a strong, thriving and stable Saudi Arabia. That’s why we’re looking forward to bringing 51 years of experience to create new opportunities for prosperity for both the Kingdom and the UAE, as well as supporting new and existing clients across the wider region.”
Through our projects and collaborations in Ras Al-Khair, we can build upon Saudi’s national priorities by helping to diversify the national economy, creating skilled jobs and harnessing the full potential of the skilled labor force.”
The ambitious, large-scale project opens an existing new phase for Saudi-UAE economic collaboration. NMDC Energy’s Ras Al-Khair yard serves as an engine for growth, investment, trade, and employment within the region and beyond.
‘Giordano x Kung Fu Panda’ celebrates New Year
Global apparel retailer Giordano has unveiled its “Giordano x Kung Fu Panda” collaboration series to celebrate the New Year.
This marks Giordano’s inaugural partnership with DreamWorks Animation’s beloved Kung Fu Panda franchise, harnessing the positive attributes associated with martial arts to present a vibrant and exclusive apparel collection for men, women, and children. The collection embodies the essence of Kung Fu Panda’s martial arts poses, communicating vital messages about respect, harmony, fairness, and self-reliance.
The collaboration also includes engaging in in-store activities and unique Kung Fu Panda-themed content on social media platforms.
Through initiatives like this, Giordano continues to enhance its global brand presence, advancing its growth strategy while celebrating cultural moments that resonate with its diverse audience.
Combining contemporary designs, high-quality materials, and comfortable silhouettes, the collection features bold prints that reflect the festive spirit.
Limited-edition items are available both in stores and online across key markets, including China, Hong Kong, Taiwan, Singapore, Malaysia, Thailand, Indonesia, Vietnam, the UAE, and Saudi Arabia.
The collection offers a variety of hoodies, T-shirts, and jackets, along with coordinated family sets that are perfect for holiday celebrations.
“As the New Year symbolizes fresh beginnings and opportunities for growth, we are delighted to collaborate with Kung Fu Panda to bring Giordano’s vision of a ‘World Without Strangers’ to life,” said Ahmedullah, managing director of Giordano Saudi Arabia.
This partnership enables us to connect with our customers in a meaningful yet enjoyable manner, while also presenting an exciting collection suitable for families,” said Ahmedullah, managing director of Giordano Saudi Arabia. “At Giordano, our objective is to seamlessly integrate creativity, quality, and inclusivity to craft memorable experiences for our shoppers.”
Colin Currie, CEO of Giordano International, added: “By enhancing our global retail operations, creating engaging store narratives, and improving product assortment availability, we have successfully achieved positive sales growth and expanded our customer base. This encouraging performance has established a solid foundation for our five-year strategic plan ‘Beyond Boundaries.’”
This collaboration marks a pivotal milestone in Giordano’s endeavor to blend style with purposeful storytelling, providing customers with an opportunity to embrace the New Year with flair.
Global construction consultancy RLB opens regional headquarters in Riyadh
Rider Levett Bucknall, a global leader in construction cost consultancy and project management services, has officially inaugurated its new regional headquarters in Riyadh. This strategic move underscores the company’s commitment to expanding its operations and supporting the Kingdom’s ambitious development goals.
The event coincides with RLB’s celebration of 40 years of presence in Saudi Arabia, during which the company has delivered transformative infrastructure projects and contributed to the Kingdom’s urban development in alignment with Vision 2030. Over the past four decades, RLB has been a key partner in executing large-scale residential, commercial, healthcare and educational projects, while championing innovation and sustainability in the construction sector.
Speaking at the inauguration, Prince Fahad bin Abdulaziz bin Farhan Al-Saud, chairman of RLB Saudi Arabia, expressed his vision for the company’s role in Saudi Arabia’s future: “Today marks a significant milestone for RLB as we further solidify our roots in Riyadh and beyond. The Kingdom is at the forefront of an extraordinary transformation, and RLB is proud to have been a trusted partner in shaping its progress. Our new regional headquarters represent our long-term commitment to driving excellence and delivering innovative solutions that align with the Kingdom’s aspirations under Vision 2030.”
Prince Fahad was accompanied by RLB Directors Andrew Reynolds and Mark Weaver, and General Manager William Barber during the inauguration of the newly opened offices located in Laysen Valley, Riyadh. The headquarters mark 40 years of RLB’s operations in Saudi Arabia and will serve as the company’s third premises, with existing offices already established in Riyadh and Jeddah.
Reynolds, global director and board member of RLB, said: “The Middle East, particularly Saudi Arabia, is a hub of unprecedented opportunity and growth. RLB’s new headquarters in Riyadh reflect our dedication to not only supporting our clients but also contributing meaningfully to the region’s dynamic landscape. We are excited to bring our global expertise and cutting-edge solutions to this thriving market.”
Weaver, global board director at RLB, added: “We have been privileged to work on some incredible projects, collaborate with some amazing people, and invest in growing our RLB team here in Saudi. This next chapter reflects our continued commitment to supporting the Kingdom’s evolving built environment and contributing to its economy.”
New Honeywell center to boost KSA’s industrial cybersecurity
Honeywell has launched a new center in Jubail to provide localized cybersecurity services for critical industrial sectors in the Kingdom. The center was announced at IKTVA Forum and Exhibition in Dhahran.
The Honeywell Himaya Center, located in the company’s Jubail office, underscores the alignment of Honeywell’s portfolio to three compelling megatrends including automation. It is designed to strengthen industrial cybersecurity capabilities in the Kingdom by offering more robust operational technology security solutions to address today’s evolving threats, while helping businesses maintain regulatory compliance.
The center will provide in-country managed security services to key sectors including energy, manufacturing and utilities. This includes Honeywell’s flagship Cyber Insight and Cyber Watch software solutions, which help businesses maintain continuous compliance with the National Cybersecurity Authority OT Cybersecurity Controls regulations, and support the use of automation and artificial intelligence-enabled technologies.
“The launch of the Honeywell Himaya Center is a testament to our dedication to supporting Saudi Arabia’s localization and industrial transformation objectives, and the ambitious vision set forth by the IKTVA program,” said Abdullah Al-Juffali, president, Honeywell Saudi Arabia and Bahrain.
“The new center will bring critical local cybersecurity capabilities to the Kingdom, and support the growth of a resilient and self-reliant industrial ecosystem.”
Saudi Arabia’s cybersecurity market is expected to grow from $3.6 billion today to $10.5 billion by 2032. This growth is driven by digital transformation, rising cyberthreats, and initiatives like Vision 2030. The increasing reliance on cloud technologies and focus on data protection are fueling demand for advanced security solutions across key industries.
“Industrial automation and AI are pivotal in driving operational efficiency and business resilience across critical industries,” said George Bou Mitri, president, Honeywell Industrial Automation for the Middle East, Turkiye, Africa, and Central Asia. “The target of the Honeywell Himaya Center is to provide unparalleled support to businesses, helping them navigate the complexities of industrial cybersecurity and leverage the benefits of advanced automation technologies.”
Honeywell is at the global forefront of driving the future of OT cybersecurity by enabling secure, compliant and resilient operations across the industrial sector. The launch of the Honeywell Himaya Center is a significant step toward supporting the Kingdom’s digital transformation and strengthening its position as a key player in the global cybersecurity market.
Honeywell has been present in Saudi Arabia for more than 70 years, delivering cutting-edge solutions and actively contributing to the government’s vision to advance technology adoption and sustainability efforts. Honeywell runs training programs to help transform Saudi Arabia into a knowledge-based economy, equipping Saudi nationals with essential technical skills in various sectors including energy, automation, and aviation.
