The Future Investment Initiative (FII) organized by the Public Investment Fund (PIF) in Riyadh served as an effective platform for investors and business experts to share their ideas, said Yusuff Ali M.A., managing director of Abu Dhabi-headquartered LuLu Group International that owns the Lulu Hypermarket chain in the Middle East.
Speaking on the sidelines of the FII, Yusuff praised the Saudi government’s “great initiative” of bringing together around 3,500 participants and 175 experts from over 65 countries to brainstorm on a range of investment issues.
The event showed the government’s will to achieve the goals set in the Saudi Vision 2030 program under the dynamic leadership of Crown Prince Mohammad bin Salman, the LuLu chief said.
“We sincerely hope that all the discussion during the brainstorming sessions of the three-day summit will bring more energy to make the dream come true,” he added.
Yusuff said that Lulu is glad to be associated in its own way to contribute to the Vision 2030 that aims to empower Saudi youth.
“I am glad to upgrade our hypermarket and its job structure in line with the Vision 2030 and going to create 3,000 jobs in two years as promised,” he said. The LuLu chief also said that his group would create 10,000 jobs for Saudis including women.
“So far, we have 2,400 Saudi employees with us,” he said.
‘FII a brilliant initiative from investment perspective’
‘FII a brilliant initiative from investment perspective’
OYO launches premium hotel brand ‘Sunday’ in KSA
Global hospitality technology company OYO has launched its premium hotel brand Sunday in Saudi Arabia with the opening of Sunday Emerald Hotel in Jeddah. It is a 72-room property on Saeed bin Zaqr Street, near to popular tourist hotspots such as the world’s tallest unsupported flagpole, King Fahad’s Fountain and Bicycle Square in Jeddah.
There are multiple food and beverages outlets in the hotel to cater to the different requirements of the guests.
OYO has strategically chosen Jeddah to launch its Sunday brand of hotels in Saudi Arabia, recognizing the city’s role as a critical transit hub for millions of Muslim pilgrims traveling to Makkah and Madinah, especially during the Hajj and Umrah seasons. This religious importance draws a vast influx of visitors annually, many of whom seek premium accommodation options to enhance their pilgrimage experience.
Through the Sunday brand, OYO will meet this demand by offering high-quality stays that blend comfort, convenience, and cultural sensitivity. It breaks away from the mold of traditional hotels and offers a unique proposition of modern-day luxury coupled with mindfully curated experiences that enable guests to unwind at their own pace.
Sunday Hotels offer an immersive experience, designed to engage the local community, and showcase creativity. Each property has a dedicated team of highly trained hospitality professionals that ensure personalized services for every guest. From the moment of arrival, guests are treated to a seamless check-in process, with staff available around the clock to cater to their needs.
One of the hallmarks of the Sunday brand is its luxurious amenities, designed to offer the ultimate in comfort and convenience. Each hotel features spacious and elegantly furnished rooms equipped with modern amenities such as high-speed Wi-Fi, flat-screen TVs, premium bedding, and well-appointed bathrooms. Many Sunday hotels also offer additional luxuries such as in-room dining, mini-bars, and premium toiletries. The concierge service provides travel arrangements, local recommendations, and any special requests, ensuring a memorable stay for all visitors.
Mohannd Bazerbashi, country head, OYO Saudi Arabia, said: “Through this launch, we aim to contribute to the Kingdom’s vibrant tourism ecosystem and drive a positive economic impact by creating local employment opportunities and fostering community engagement. It also aligns with Vision 2030’s ambition to attract 150 million visitors annually by 2030 and further strengthens OYO’s footprint in the Middle East region.”
According to the World Tourism Barometer by UN Tourism, Saudi Arabia recorded a 73 percent increase in the number of international tourist arrivals in the first seven months of 2024 compared to the same period of 2019.
OYO Hotels and Homes is a global hospitality chain with a presence in more than 35 countries. Sunday was originally launched in May 2023 in India by a joint venture between Softbank and Oravel Stays.
The first Sunday hotel was launched in the globally popular heritage destination Jaipur followed by the UK and Dubai.
New Continental GT Speed redefines grand touring
Bentley Saudi Arabia has announced the arrival of the new fourth-generation Continental GT Speed in January 2025, with customer deliveries already underway.
The new Continental GT Speed offers unmatched performance through its 782 PS ultra-performance hybrid powertrain. With a 4-liter V8 engine working in harmony with a 190 PS electric motor, drivers can experience the thrill of 0-60 mph in just 3.1 seconds, while enjoying up to 81 km of electric-only range. This combination of hybrid efficiency and exceptional power positions the Continental GT Speed as a truly extraordinary grand tourer, offering both performance and sustainability in one luxurious package.
Inside, the Continental GT continues Bentley’s reputation for peerless craftsmanship. The redesigned cabin introduces wellness seat technology, three-dimensional leather textures, and enhanced air ionization systems to elevate comfort. Bentley’s world-renowned attention to detail is evident through new dark chrome accents, alongside a customizable interior palette that allows customers to personalize every aspect of their vehicle. Whether through modern quilting or the optional Naim audio system, the Continental GT cabin embodies the height of automotive luxury.
Beneath its striking exterior, the new Continental GT Speed features a state-of-the-art performance active chassis with active all-wheel drive, all-wheel steering, and an electronic limited slip differential. This advanced system allows for an unparalleled balance of dynamic handling, grip, and control, while maintaining the renowned ride comfort Bentley is celebrated for. Paired with a 50:50 weight distribution, this latest generation offers an agile yet composed driving experience, making it the most versatile Continental GT yet.
Bentley’s designers have revolutionized the look of the new Continental GT. The car’s face features single headlamps, the first of its kind since the 1950s, giving the car a more determined and modern expression. From its muscular stance to its endless bonnet, the car’s exterior exudes power and elegance, embodying Bentley’s design philosophy of blending luxury with performance.
Both coupe and convertible models will be handcrafted at Bentley’s Dream Factory in Crewe, England, offering customers an experience like no other. With production and deliveries now taking place all over the world, this new Continental GT Speed is set to redefine grand touring for customers.
Cenomi Centers inks deal for Jawharat Riyadh cooling plant
Cenomi Centers, the largest owner, operator and developer of contemporary lifestyle centers in Saudi Arabia, has announced the signing of a collaboration agreement with Arabian Cooling for Cooling and Air Conditioning — a joint venture of FAS Energy and Sojitz Corporation — to build, own, operate and transfer a new, environmentally best-in-class cooling plant that will service the flagship Jawharat Riyadh development and deliver significant savings in electricity consumption.
Cenomi Centers will work together with FAS Energy and Sojitz Corporation, to ensure the delivery of efficient and sustainable cooling solutions in line with the highest standards. Jawharat Riyadh will be the first Gold LEED certified mall alongside Jawharat Jeddah.
As part of the agreement, no upfront capital expenditure will be required by Cenomi Centers. Cenomi Centers will save approximately 13 MWhr every year in electricity consumption delivering around SR4 million ($1.06 million) savings annually. The total savings over 25 years is estimated at approximately SR100 million. In addition, it is anticipated that Cenomi Centers will save approximately 30 percent in operation and maintenance costs including replacement costs every year.
The new central cooling plant will provide increased efficiency compared to traditional cooling systems, resulting in a reduced carbon footprint. According to the US Environmental Protection Agency calculator, the plant will save the equivalent of 1 million gallons of gasoline annually.
It will have a capacity of 12,500 refrigeration tons for a period of 25 years starting from the commercial operation date, spanning over 350,000 square meters and achieving LEED certification. It includes dedicated offices for the operations team, hybrid cooling technology based on water cooled and air-cooled chillers and a thermal energy storage tank with a capacity exceeding 14,000 cubic meters. It also comprises water pumps, a heat exchanger, electrical equipment and all necessary components to fully equip and operate the plant.
The district cooling plant will have a greater degree of automation, which will reduce manual intervention and hence lead to improvements in efficiency. It will also deliver significant benefits to retailers who will not need to install individual cooling units or manage their operations and maintenance.
Alison Rehill Erguven, CEO of Cenomi Centers, said: “I’m proud to announce the collaboration with FAS Energy and Sojitz Corporation to deliver this state-of-the-art cooling plant for Jawharat Riyadh. This agreement reflects Cenomi Centers’ ambitions to ensure that its developments are world-leading in sustainability. It represents a significant milestone in our sustainability strategy by delivering innovative energy solutions, which are aligned to Vision 2030. Not only will this collaboration deliver significant sustainability benefits through the reduction of electricity consumption, it will deliver an estimated SR100 million in monetary savings over the life of the contract.”
Turki Al-Hokair, CEO of FAS Energy, said: “FAS Energy, founded in 2013, is proud to lead the way in investing in carbon-efficient infrastructure. Initially focused on renewable energy, FAS Energy is now expanding into other sectors as well, such as district cooling.
“Through our collaboration with Cenomi Centers, we aim to combine the expertise of FAS Energy and Sojitz Corporation to deliver efficient cooling solutions that meet the growing demand for energy-efficient services in developments of this kind. These district cooling systems are designed to optimize energy consumption, reduce carbon footprints, and provide reliable, high-quality services.
“Collaborating with Cenomi Centers aligns with our commitment to sustainability, innovation, and contribution to Saudi Arabia’s Vision 2030. The implementation of these district cooling systems will not only benefit the environment but also enhance the overall experience for tenants and visitors within these developments.”
Yasushi Asano, general manager, Energy Solutions Department 2 (Middle East and CIS), Sojitz Corporation, said: “We’re excited to collaborate with Cenomi Centers on this flagship project. Providing sustainable and efficient cooling is one way we demonstrate our commitment to net-zero goals and a greener future. For us, this collaboration goes beyond technology — it’s about making a meaningful difference for communities and future generations.
“With HVAC systems accounting for a significant portion of greenhouse gas emissions and consuming over 50 percent of a building’s electricity, investing in efficient cooling infrastructure is crucial. We aim to continue investing in future technologies and implementing them at the root level to reduce energy consumption in cooling infrastructure, thereby promoting both environmental sustainability and operational efficiency.
“This initiative also reflects Sojitz’s commitment to supporting Saudi Arabia’s Vision 2030 and its sustainability objectives. As we continue to invest in efficient infrastructure, projects like this demonstrate our belief that responsible business practices are integral to progress and growth.”
To be completed at the end of 2025, the launch of Jawharat Riyadh and Jawharat Jeddah will be a watershed moment as Cenomi Centers pushes ahead with its ambitious growth pipeline to develop next-generation retail and lifestyle destinations in Saudi Arabia. Both malls will redefine the experiences of retail and leisure in the capital and nationwide. Jawharat Riyadh will introduce over 300 of the world’s most sought-after brands in more than 75 flagship stores, including 10 new brands to Riyadh.
The Arabian Cooling for Cooling and Air Conditioning has obtained a temporary license to operate district cooling services from the Saudi Electricity Regulatory Authority and any future developments regarding the JV’s acquisition of the final license will be announced at a later date.
Safa Investment launches SR1.1bn real estate fund
Safa Investment Company announced the launch of the “Flow MENA 1st Residential Fund,” an income-generating fund with a total value of SR1.1 billion ($292 million), during its participation in Cityscape Global 2024 in Riyadh. This initiative, launched in partnership with Flow MENA and SICO Capital, marks a strategic step by Safa Investment to boost value in the residential sector and offer unique investment opportunities.
The fund has successfully acquired five newly developed residential complexes, designed to the highest global standards, to furnish, operate, and lease them. The fund aspires to provide a high-quality residential experience in rental communities, focusing on maximizing returns and enhancing income throughout its operational duration.
In its statement, Safa Investment said that the fund is based on an innovative global model, aimed at delivering a unique residential experience and increasing the appeal of residential investment opportunities in the Kingdom.
Securing AI cloud platforms: A critical balancing act
As organizations worldwide embrace digital transformation, the convergence of artificial intelligence and cloud computing has emerged as a defining force of our technological era. This integration promises unprecedented opportunities for innovation and efficiency, yet it also introduces complex cybersecurity challenges that demand our immediate attention and strategic response.
The promise of AI in cloud environments extends far beyond mere operational improvements. When properly implemented, AI is a vigilant guardian of our digital assets, analyzing vast data streams in real-time to detect and respond to potential threats. This capability has been demonstrated by Huawei Cloud’s SecMaster 2.0, which integrates over 300 threat detection models, including 70 AI fine-tuned ones, showing how advanced AI can transform security operations. These systems can identify subtle patterns that might escape human observation, enabling organizations to move from reactive security measures to proactive threat prevention.
However, this technological advancement comes with a sobering reality: the capabilities that make AI-powered cloud services so powerful create new vulnerabilities. Organizations must navigate a complex landscape where data privacy concerns intersect with the need for robust AI training datasets. The fundamental requirement for AI systems to access and analyze large volumes of data creates a delicate balance between functionality and security. This challenge is particularly acute in sectors handling sensitive information, where the exposure of confidential data could have far-reaching consequences.
The threat landscape is further complicated by the emergence of sophisticated adversarial attacks targeting AI systems themselves. Malicious actors have demonstrated increasing sophistication in their ability to manipulate AI models, potentially causing them to make incorrect assessments or fail to detect genuine threats. This vulnerability is particularly concerning given the growing reliance on AI for critical security decisions. As organizations deploy more AI-powered tools in their cloud environments, each new integration potentially expands the attack surface, creating additional entry points for cybercriminals to exploit.
The industry’s heavy reliance on third-party cloud providers adds another layer of complexity to this security equation. While these partnerships enable organizations to access cutting-edge AI capabilities, they also create dependencies that can impact an organization’s security posture. The challenge lies in securing one’s own systems and ensuring that partners maintain equally robust security standards. This interconnected ecosystem demands a new approach to security governance, encompassing internal controls and external partnerships.
Perhaps most concerning is the growing skill gap in AI security expertise. As AI systems become more sophisticated, the shortage of professionals who understand both AI technology and cybersecurity principles becomes more acute. Leading providers are addressing this through automation and intelligence — for instance, Huawei Cloud’s implementation of 100+ predefined security playbooks and 10,000+ compliance baselines helps organizations maintain robust security even with limited expertise.
The path forward requires a fundamental shift in how we approach AI integration in cloud environments. Organizations must adopt a security-first mindset, where cybersecurity considerations are embedded into the earliest stages of AI deployment planning. This approach should include comprehensive risk assessments, regular security audits, and continuous monitoring of AI systems for potential vulnerabilities or anomalies.
Moreover, the industry must prioritize the development of AI-specific security standards and best practices. These guidelines should address not only technical security measures but also ethical considerations around data privacy and AI use. Collaboration between organizations, security researchers, and technology providers will be essential in developing and maintaining these standards.
Investment in training and education must also increase significantly. Organizations must build internal expertise in AI security while working to close the broader industry skill gap. This includes developing comprehensive training programs and creating clear career paths for AI security professionals.
The future of AI in cloud computing depends on our ability to balance innovation with security, ensuring that as we push the boundaries of what’s possible, we do so in a way that protects our digital assets and maintains the trust of our stakeholders. As demonstrated by recent developments in the industry, this is not just a technical challenge but a strategic imperative that will define the next chapter of digital transformation. Through continued innovation and collaboration, as showcased by industry leaders like Huawei Cloud, we can build a more secure and resilient digital future.
- The writer is Mohammed Moteb Alosaimi, CSO of Huawei Saudi Arabia.
