Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), received in his office in Riyadh Ahmed Javed, ambassador of India to Saudi Arabia. The meeting was also attended by Ahmed Altobaishi and Ziyad Alomair, executive assistants to Prince Alwaleed.
The meeting began as the ambassador thanked Prince Alwaleed for giving him the opportunity to meet with him, commending him on his local, regional and international investments. During the meeting, the ambassador expressed his government’s desire for Prince Alwaleed to further invest in their country. Prince Alwaleed discussed his investments through KHC in India that include the Four Seasons Hotel in Mumbai via Four Seasons management and Movenpick in Bangalore, in addition to Fairmont in Jaipur, Sofitel in Mumbai and 58 hotels through Accor, and in the banking sector through Citigroup.
In 2010, Prince Alwaleed visited Dharavi (North Mumbai, a slum over parts of Sion), Hajji Ali Mosque, Bhau Daji Lad Museum, Mani Bhavan, the residence of Mahatma Gandhi, and the Gateway of India. During the visit, Prince Alwaleed was received by Mukesh Ambani, chairman and CEO of Reliance Industries Ltd., at his residence. Moreover, during the visit Prince Alwaleed was received by Ratan N. Tata, chairman of TATA Group at the Taj Mahal Hotel.
In 2009, Prince Alwaleed had received Tata and hosted a dinner in his honor at Kingdom Resort in Riyadh. In 2005, Prince Alwaleed visited India where he met with former President A. P. J. Abdul Kalam at the presidential office.
Prince Alwaleed, Indian ambassador discuss investment issues
Prince Alwaleed, Indian ambassador discuss investment issues
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.”
Flexjet fuels private aviation growth in Kingdom
As Saudi Arabia’s private aviation sector experiences unprecedented growth, Flexjet, a leader in private aviation established in 1995, is primed to support the Kingdom’s evolving travel needs. Combining the ultimate private jet experience, sophisticated state-of-the-art fleet and a sustainability-first approach, Flexjet offers services that are lately in high demand among Saudi Arabia’s growing number of ultra-high-net-worth individuals.
The Kingdom’s private aviation sector, valued at SR4.5 billion ($1.2 billion) in 2023, is projected to grow at a compound annual growth rate of 8.88 percent through 2029. The sector’s expansion reflects rising demand for luxury travel options, driven by an increasing number of affluent tourists and growing disposable wealth.
Flexjet’s operations are built around providing customized travel solutions, making it a natural fit for Saudi Arabia’s elite private aviation clientele. Since its acquisition by Directional Aviation, a leader in the private aviation industry with more than SR13 billion in annual revenue and over 4,000 employees, Flexjet has seen skyrocketing growth, transforming from a respected player in private aviation into a global powerhouse. Under the strategic vision of Directional Aviation, Flexjet placed a record-breaking SR21 billion order for 265 Bombardier jets, followed by a SR5.2 billion order from Embraer in 2019, ensuring it maintains its state-of-the-art fleet.
These strategic orders allow Flexjet to service its clients in Saudi Arabia with advanced aircraft like the Embraer Praetor 600, which combines long-range capabilities with exceptional cabin comfort, and the Gulfstream G650, renowned for its ability to provide connections between distant destinations.
Flexjet’s global fleet today stands at 300 jets and a large number of helicopters, which are operated by over 1,000 pilots, with more than 100 of those within the region.
Its partnerships with luxury hotels like Dorchester Collections, The Lana, ensure that its clients experience true luxury by offering seamless transitions from air to ground. The Lana epitomizes modern elegance with a five-star rating, complete with 225 refined rooms and suites, world-class dining by renowned chefs, and a serene spa.
Flexjet’s sustainability initiatives are at the forefront of the industry and are naturally aligned with the Kingdom’s vision for a green future. Through a comprehensive program developed with specialist consultancy 4AIR, Flexjet addresses sustainability across all timelines, offsetting 100 percent of carbon emissions for every flight in the short term, promoting sustainable aviation fuel in the medium term and investing significantly in advanced clean aviation technologies for the long term.
“Demand for flights to the GCC region has risen exponentially for Flexjet in the past three years and it’s now not just a question of flying international travelers into the region, but also gaining increasing numbers of clients who are based there — particularly in Saudi Arabia,” said Andrew Collins, CEO of Flexjet. “We are perfectly placed to appeal to the UHNWI community in the GCC with our exceptional fleet capabilities and luxury onboard service, and the region will continue to be a major focus for us in 2025,” he added.
Flexjet’s presence in Saudi Arabia reflects its broader strategy of serving markets where demand for premium private aviation solutions is fast-growing. With a focus on aligning its services with the Kingdom’s ambitious economic goals and connectivity plans, the company is poised to contribute meaningfully to the growth of the private aviation sector within the Kingdom and the broader region.
Indian school students benefit from health awareness program
Indian Doctors Medical Forum, Jeddah, in association with the Indian Consulate, organized a health awareness program for the students of International Indian School Jeddah, as part of a series of events under the Indian government’s “Fit India Campaign.”
The “School Health Awareness Program” was inaugurated by Consul General of India Fahad Ahmed Khan Suri.
During his address, Suri highlighted the importance of preventive healthcare campaigns for overall health and well-being. Expressing appreciation for the collective efforts of members of IDMF, officials and staff of IISJ, and participating hospitals, which made the initiative a grand success, he underlined the importance of meaningful collaborations between the consulate and Indian expatriates to promote the health and well-being of the Indian community, in general, and that of the student community, in particular.
As part of this program, 6,000 eye screening tests were conducted for IISJ students from pre-primary and primary classes, at three different locations.
A team of experienced ophthalmologists conducted the computerized screening, meticulously assessing the vision and eye health of the students. The screenings covered basic vision tests, checks for common refractive errors, and evaluations for early signs of conditions like myopia, hypermetropia, and amblyopia.
The camp identified the students requiring corrective measures, such as eyeglasses or further medical attention, ensuring appropriate referrals for follow-up care.
IISJ Principal Dr. Mohammad Imran and school officials and staff expressed their gratitude for this meaningful endeavor, recognizing its potential to significantly enhance the learning experiences and quality of life for the children.
IDMF President Dr. Ashfaque Maniyar, in his address, emphasized the role of regular eye check-ups in maintaining overall health and academic performance.
The “School Health Awareness Program” promotes good health among students by detecting health issues at an early stage.
The Indian Consulate, in association with IDMF, plans to conduct a series of health awareness events in phases during 2025-26, which will include eye, dental, ENT and general health screenings.
