Al-Rajhi Capital, the Kingdom’s leading investment firm, has partnered with Tadawul (Saudi stock exchange) for the “Invest Wisely Program.” This year-long campaign provides an opportunity for participants to become more capable and skilful investors by learning, engaging, practicing and competing on a virtual platform that provides a real-life experience of actual trading in the stock market.
“As the leading provider of investment services in the Kingdom, this exclusive sponsorship complements Al-Rajhi Capital’s ongoing commitment to enhance awareness and knowledge among existing and potential investors. As the Kingdom continues its journey toward more institutionalized markets with increased foreign participation, well-educated and equipped investors with necessary tools and resources will be able to make more informed investment decisions,” a press release said.
The “Invest Wisely Program” is a comprehensive initiative with investment workshops, and access to learning material and a trading simulation platform enabling participants to create a virtual portfolio with real-life trading experience in Tadawul. An investment competition will allow participants to demonstrate their investment skills and knowledge. Winners will be presented with prizes from official sponsor Al-Rajhi Capital.
Established in 2008, Al-Rajhi Capital is one of the largest providers of financial services in Saudi Arabia. The firm provides a comprehensive range of innovative financial solutions across brokerage, asset management, investment banking, advisory services, and custody. Al-Rajhi Capital is a top ranking broker and one of the largest asset managers in the Kingdom.
Al-Rajhi Capital, Tadawul partner for ‘Invest Wisely Program’
Al-Rajhi Capital, Tadawul partner for ‘Invest Wisely Program’
Diriyah bags two ‘Mostadam’ sustainability certifications
Diriyah Company has been awarded two prestigious Mostadam (Ajwad) certifications for sustainability by the Ministry of Municipalities and Housing. The dynamic mixed-use developer was recognized for the Northern Diriyah Area and the Ritz-Carlton Residences development projects. The announcement was made at the Cityscape Global real estate event themed “The Future of Living,” held in Riyadh from Nov. 11-14.
The certification — in line with the Kingdom’s Quality of Life Program — a central aspect of Vision 2030 — is granted to residential buildings and communities based on ratings that measure the sustainability of these projects. This is achieved by applying sustainability and quality of life standards, such as increasing green spaces, providing safe pathways for pedestrians as well as cyclists, and reducing water waste by reusing it for irrigating the gardens and green areas of the project.
The Diriyah project is fully committed to sustainability.
Jerry Inzerillo, Group CEO of Diriyah Company
The Ajwad initiative has registered 74 projects, with five Diriyah projects included under the program to date, of which two have successfully attained this highly sought-after certification:
• Diriyah North (Masterplan certification — Diamond Level)
• The Ritz Carlton Residences (Asset certification — Gold Level)
The remaining three projects are scheduled for certification next year.
Diriyah North achieved 86 points on the Mostadam certification scale for its master plan, achieving Diamond level, the highest level of Mostadam certification. This accomplishment underscores Diriyah’s commitment to sustainability and enhancing the community’s quality of life. Additional Diriyah districts will apply for the Mostadam Diamond certification in the coming months.
Diriyah North’s sustainability achievements include meeting 100 percent of irrigation demand by Treated Sewage Effluent, providing 46 percent shaded walkways for pedestrians, and dedicating 25 percent of the area to parks and open space.
Jerry Inzerillo, group CEO of Diriyah Company, said: “The Diriyah project is fully committed to sustainability. These latest accreditations are a significant endorsement of our dedication to employing the highest standards of environmental protection in construction and design, enabling us to deliver a brand-new concept in urban development with a unique people-first urban regeneration project for everyone to enjoy.”
The latest recognition follows a series of sustainability accolades recently awarded to Diriyah. Diriyah received LEED Platinum certification in 2023, for the first phase of the Diriyah masterplan, becoming the first project in the Middle East to achieve the highest level of certification at masterplan level. Additionally, the Wadi Safar masterplan received the region’s first SITES Gold precertification. Moreover, Bujairi Car Park and Samhan Car Park were also awarded Parksmart GOLD pre-certification in 2022 and 2023 respectively, for sustainability best practices.
Abeer announces soft launch of ‘Lavender Health’
Abeer Medical Group has announced the soft launch of Lavender Health, a premium speciality healthcare facility dedicated to provide value-based healthcare services. The soft launch took place at the Global Health Exhibition, attended by high-profile guests including Dr. Ibrahim Alomar, assistant deputy minister for health investment, along with officials from the Ministry of Health and senior leadership from Abeer Medical Group. The event marked a significant milestone in the group’s ongoing commitment to providing exceptional healthcare services, emphasizing quality and a delightful experience for everyone.
Alungal Mohammed, president of Abeer Medical Group, said: “As we embark on the 25th year in the Kingdom, I am happy to introduce Lavender Health, a new vertical with a selected set of specialities for the niche group. This facility is a testament to our dedication to high-quality healthcare and our mission to meet the evolving needs of our care seekers.”
Dr. Alomar said: “The launch of Lavender Health is a commendable initiative that aligns with our continual efforts to enhance healthcare accessibility and quality in the Kingdom. We applaud Abeer Medical Group for their initiative and dedication to improving the health and well-being of our citizens.”
Lavender Health is set to offer a wide range of healthcare services equipped with state-of-the-art technology and skilled healthcare professionals, ensuring that care seekers receive the highest standard of care.
TDF CEO joins World Travel & Tourism Council Executive Committee
In a landmark achievement for Saudi Arabia’s tourism sector, Tourism Development Fund CEO Qusai Al-Fakhri has been appointed to the Executive Committee of the World Travel and Tourism Council. This appointment highlights TDF’s growing international influence and its vital role in transforming Saudi Arabia into a leading global tourism destination in line with the objectives of Saudi Vision 2030.
The Executive Committee membership, one of the highest roles bestowed on a Saudi entity within the WTTC, reflects TDF’s commitment to sustainable tourism development and international collaboration. The WTTC unites key decision-makers, leaders, and experts from across the global tourism industry, focusing on strategies that drive long-term growth in travel and tourism.
The TDF CEO’s appointment underscores TDF’s leadership in fostering international partnerships, advancing Saudi Arabia’s tourism industry, and positioning the Kingdom as a top destination for foreign investment. By sharing insights and learning from global best practices, TDF will further accelerate the growth of Saudi tourism, enhancing its global standing and economic potential.
Al-Fakhri said: “Joining the WTTC’s Executive Committee is a prestigious recognition of Saudi Arabia’s growing influence in the global tourism landscape. It reaffirms TDF’s commitment to driving tourism transformation in the Kingdom.”
Through this platform, we aim to leverage global expertise and innovative solutions to achieve the ambitious goals of Saudi Vision 2030, while promoting sustainable growth across Saudi Arabia’s tourism sector.” He also highlighted TDF’s continued dedication to developing the sector through financial support and advisory solutions that empower investors and enhance collaboration with both local and international stakeholders.
The WTTC is the premier global entity representing the private sector in travel and tourism. Its mission is to raise awareness of the industry’s economic and social impact while providing a platform for leaders to share insights and address critical challenges. The WTTC’s annual global summit brings together top executives from the world’s largest travel and tourism companies to explore key issues and opportunities.
LuLu marks 15 years with ‘Super Fest 2024’
LuLu Hypermarket Saudi Arabia is celebrating its 15th anniversary with the launch of Super Fest 2024, the biggest shopping event of the year. Running from Nov. 27 to Dec. 10, the festival celebrates LuLu’s journey of success and commitment to excellence. Customers can look forward to unbeatable deals and exciting prizes, making this a shopping experience like no other.
The festival features massive discounts across all sections, including supermarkets, fashion, electronics, mobile phones, and home appliances. With savings totaling SR25 million ($6.6 million), shoppers have an opportunity to enjoy exceptional value throughout the celebration period.
Adding to the excitement, Super Fest 2024 offers shoppers the chance to win 1,500 gifts and prizes worth up to SR1 million.
Ahead of the fest launch, an exclusive event was held at voco Riyadh. Attended by key suppliers, influencers, and media representatives, the event highlighted LuLu’s achievements over the past 15 years. Special anniversary products and exclusive fest offers were unveiled, setting the stage for the celebrations.
During the event, LuLu honored its key suppliers with tokens of appreciation, recognizing their critical role in the company’s success. This gesture reinforced LuLu’s commitment to building strong partnerships with its strategic retail collaborators.
Shehim Mohammed, director of LuLu Hypermarkets Saudi Arabia, said: “Today, as we celebrate the 15th anniversary of LuLu’s establishment in Saudi Arabia, we take pride in a journey full of achievements and partnerships with our community and loyal customers. This occasion is not just a milestone, but a testament to your trust and ongoing support, which motivates us to continue offering the best. We invite you to share these special moments with us and enjoy the largest deals and prizes we have specially prepared for you. Together, we continue the journey of success.”
“Over the years, LuLu has been one of the leading players in the retail sector, and we look forward to continuing to provide an exceptional shopping experience that meets and exceeds our customers’ expectations. This fest is part of our ongoing commitment to strengthening our relationship with customers and offering them the best in the world of offers and shopping. We wish everyone a fantastic shopping experience,” he added.
Over the past 15 years, LuLu Saudi Arabia has established itself as a leader in the retail industry. Known for offering high-quality products at competitive prices, LuLu has built a strong network of stores across the Kingdom. The company’s focus on innovation and excellence has made it a trusted name in the retail sector.
Recently, LuLu began trading on ADX on Nov. 14 following its record-breaking IPO. The most significant aspect was the heavy pull in of first-time investors, all of whom made up 82,000+ retail investors, one of the highest recorded for a UAE IPO. The stock offering raised $1.72 billion, with aggregate demand at $37 billion for an oversubscription by 25 times. Trading began with a share price of 2.04 dirhams ($0.56) per share, showing positive trade.
UAE nationals picked up many of the LuLu shares, and foreign investors hold just over 77 percent of the stock, which is among the higher percentages of ADX-listed entities. Cornerstone investors included leading sovereign and institutional investors from across the GCC. Key investors in the LuLu IPO include Abu Dhabi Pension Fund, Emirates International Investment Company, Bahrain Mumtalakat Holdings, Oman Investment Authority, Kuwait Investment Authority, Qatar Investment Authority, Saudi PIF, Hassana Pension Fund, and the Singapore Sovereign Wealth Fund, among others.
Mastercard announces winners of mentorship program
Mastercard partnered with Saudia and Blossom Accelerator for the third season of its “Her Voice” mentorship program, empowering female entrepreneurs to attain lasting success.
The entities hosted three workshops across Jeddah, Riyadh, and Alkhobar, with more than 100 participants across all the cities. Each workshop enabled the opportunity to foster connections among women from across the Kingdom, offering participants access to all-important learning and networking. A competition held at each workshop also provided the opportunity for one winner from each city to be granted the mentorship program.
Reima Sras, founder of Buthoor Tech; Munirah Alkadi, founder of Mawsim; and Sarah Albaiz, founder of Qantara Studio; were selected as the competition’s three winners, each being enrolled in the innovative “Her Voice” program facilitated by Blossom Accelerator.
Each participant was evaluated based on leadership, product viability in the market, business model strength, and other key criteria.
“As more Saudi women take the reins of leadership and drive the future of the Kingdom’s SME space, we must work to ensure that we continue pioneering innovative programs that bridge the entrepreneurship gender gap,” said Maria Medvedeva, country manager, Saudi Arabia, Mastercard. “At Mastercard, we believe collaboration is crucial to launching the effective platforms required to accomplish this goal, and we are pleased to have partnered with Saudia and Blossom Accelerator to empower even more women for Season 3 of ‘Her Voice.’ We look forward to seeing our mentees grow, flourish and thrive, realizing their considerable potential and serving as champions of Saudi female excellence.”
Essam Akhonbay, vice president of marketing at Saudia, said: “As Saudi Arabia’s national flag carrier, we are deeply invested in the nation’s future and believe women are central to its success.”
Through ‘Her Voice,’ we empower female entrepreneurs to thrive, inspiring future generations and creating pathways for small businesses to prosper. By showcasing their remarkable stories on our in-flight entertainment system, we not only highlight their achievements but also reinforce Saudia’s commitment to promoting local content that fuels economic growth and social progress.”
“At Blossom Accelerator, we are proud to be a global leader in driving inclusive innovation, recognizing that diverse perspectives are key to unlocking economic potential and maximizing investment returns. Our mission is to empower female-led startups across the globe, equipping them with the essential tools and resources to excel in the competitive digital economy,” said Emon Shakoor, CEO and founder.
This season focused on connecting people to their passions, with each episode exploring a different passion point, namely: gaming, tech, sustainability, culinary, and sport. Over the course of each interview, guests recounted their personal and professional journeys in their own voices in conversation with the host, renowned Saudi actress and broadcaster Danyah Shafei.
