RIYADH: Jollychic, the global online shopping platform and E-commerce ecosystem innovator, attended the Saudi Arabian Investment and Cooperation Forum on February 22, 2019, at the invitation of H.E. Dr. Majid Bin Abdullah Al Qasabi, Minister of Commerce and Investment. Jollychic founder and CEO, Arron Li, signed a memorandum of understanding (MoU) with the Governor of the Saudi Arabia General Investment Authority (SAGIA), Ibrahim Al-Omar, agreeing to form a comprehensive partnership to support the acceleration of digital transformation and enhancing economic diversification in Saudi Arabia.
As the Kingdom steadily advances toward the realization of Vision 2030, the Saudi government has launched a series of ambitious industrial initiatives that aim to contribute to the development of a robust and diversified economic infrastructure. The initiatives include the National Industrial Development Program (NIDLP), the Riyadh provincial development plan and free zone construction plan, as well as the the adoption of a “Cloud First Policy”, which aims to accelerate the pace at which cloud computing is adopted within the public sector. Meanwhile, emerging industries such as information technology, modern logistics and e-commerce platforms have received more strategic direction and guidance policies.
Taking place at a transformative time for the Saudi economy, the MoU lays the foundation for Jollychic to establish a strategic relationship with SAGIA as well as relevant government sectors and stakeholders, thereby allowing for Jollychic to deepen its roots in the kingdom.
“It’s an honor to partner with SAGIA and we hope to drive the overall competitiveness of KSA business community in the context of the Internet age while bringing unique value to the Kingdom while on its way to Vision 2030”, Li said.
As the only e-commerce enterprise to sign a MoU during the forum, Jollychic will take full advantage of its position as an industry leader to lead and contribute to the development of an E-commerce ecosystem in Saudi Arabia, thereby contributing to the establishment of a diversified digital economy in the Kingdom and the achievement of Vision 2030.
As outlined in the MoU, SAGIA will provide comprehensive support for Jollychic to contribute in promoting the local e-commerce industry and ecosystem in Saudi Arabia. “Jollychic is a successful example of a company that is effectively stimulating employment and promoting social progress in the digital economy sector of Saudi Arabia.” said Dr. Mazin M. Al Zaidi, Director of Innovation and Entrepreneurship at SAGIA. “We look forward to more tech companies gaining success in Saudi Arabia through a long-term development plan,” he continued.
Relying on the solid foundation and business vision of Jollychic in Saudi Arabia, the MoU also captures key content about the e-commerce ecosystem and digital economy in Vision 2030.
Data from market researcher BMI shows that e-commerce sales in Saudi Arabia are expected to reach $13.9 billion in 2021, up from $8.7 billion in 2017. According to the Kingdom’s plans for Vision 2030, the Saudi government aims to increase the contribution of modern trade and E-commerce to 80% of the retail sector by 2020. As a country where about 60 percent of the population is under 30 years old and mobile Internet penetration exceeds 75%, the emerging Internet sector still has massive potential for growth.
With the comprehensive partnership framework called TIES, which stands for Technology, Investment, Employment and Social Awareness, Jollychic will work to enhance communication and cooperation with the Saudi government and other stakeholders to strengthen localization and investment in the areas of technology sharing, investment commitment, promoting employment and raising social awareness, comprehensively cementing the strategic bond for Jollychic with the Saudi market.
In the field of Technology, Jollychic will promote the localization of technologies related to digital economy, such as supporting the Saudi public sector improve the efficiency of electronic administration, and providing technical support for the implementation of Vision 2030 in emerging industries by innovating methods of regulation.
With regard to Investment commitment, Jollychic expressed its willingness to explore the possibility of further investment in the development of e-commerce ecosystems infrastructure in Saudi Arabia.
As for Employment promotion, Jollychic will combine business development and technological advantages to support Saudi Arabia to train e-commerce recruits and further promote digital-economy-driven employment.
Finally, to promote Social Awareness, Jollychic will actively explore cooperation with all sectors of Saudi Arabia and make positive contributions to social undertakings and cultural development in the kingdom.
“As an non-oil company that had invested and rooted itself in Saudi Arabia at a very early stage, the Kingdom has always been an important strategic market for Jollychic. At present, the company owns one of the largest e-commerce fulfillment centers of the Middle East in Saudi Arabia,” said Li. “Jollychic will promote infrastructural improvements such as a logistics network, Internet professional training and so on in Saudi, and actively utilize our expertise in artificial intelligence, big data, and Internet model innovation practice, etc. to build a healthy and sustainable e-commerce ecosystem, and drive economic diversification in Saudi Arabia,” he concluded.
Jollychic announces partnership with SAGIA to bolster Saudi Arabia’s digital economy
Jollychic announces partnership with SAGIA to bolster Saudi Arabia’s digital economy
- E-commerce innovator partners up with Saudi government sector to boost economic diversification in the Kingdom
Samaco-Volkswagen supports sports with Al-Ittihad sponsorship
Samaco-Volkswagen announced a two-season sponsorship agreement with the renowned Al-Ittihad Football Club. This partnership is set to captivate football and car enthusiasts alike, aligning with efforts to support sports and football in Saudi Arabia.
The men’s team of Al-Ittihad will don their iconic yellow-and-black striped jerseys prominently featuring the Volkswagen logo on the front, while the women’s team will showcase the logo on their shoulders. Additionally, Samaco-Volkswagen will provide players with the latest Volkswagen models, including the new Touareg, Teramont, and the youth-favorite T-Roc, throughout the sponsorship period.
The sponsorship agreement signing ceremony was held at the club’s headquarters, attended by Loay Mashabi, chairman of Al-Ittihad, and Mohammed Rafah, CEO of Samaco Automotive. Also present were Alaa Tamraz, deputy CEO of shared services and chief financial officer of Samaco; Mohamed Mousa, general manager of Volkswagen; and Ahmed Al-Naniah, marketing manager for Samaco-Volkswagen, along with several other officials from both sides.
Rafah said: “We are honored to sponsor a prominent club like Al-Ittihad, known for its distinguished local, continental, and global presence and its passionate, active fanbase. Volkswagen is a globally renowned automotive brand with a legacy spanning nearly 90 years, well-known for its support of sports worldwide. Today, we reinforce this message through our partnership with a major club, contributing to sports and youth activities in the Kingdom. This aligns with Vision 2030’s emphasis on empowering the nation’s youth and sports sectors. We are thrilled to sponsor both the men’s and women’s teams and look forward to celebrating new achievements together this season.”
Mashabi said: “Our club’s success in attracting exceptional companies to leverage its vast outreach is evident through the exposure it provides to brands not only on official team jerseys but also across the club’s highly engaged social media platforms.
“This includes significant local and international media coverage of all club events. Today, we are pleased to welcome a distinguished automotive brand renowned for its exceptional design, performance, and driving pleasure. I am confident this sponsorship will achieve its goals, given Al-Ittihad’s significant resources and enormous fan base. As we’ve witnessed over the past weeks with the influx of new sponsorships, our work to attract more partners continues.
“The success of our commercial operations reflects the collective efforts of all departments to elevate the club both athletically and organizationally, ensuring we maintain a position befitting this historic club and its loyal fans.”
SRC inks SR1bn mortgage portfolio deal with Bidaya Finance
The Saudi Real Estate Refinance Company, a Public Investment Fund company, has signed an agreement to acquire a SR1 billion ($266.6 million) mortgage portfolio from Bidaya Finance. The signing ceremony took place in the presence of Minister of Municipalities and Housing and Chairman of SRC Majid bin Abdullah Al-Hogail and Chairman of Bidaya Finance Abdulaziz bin Saleh Al-Omair.
The agreement, signed by SRC CEO Majeed bin Fahad Al-Abduljabbar and Bidaya Finance CEO Mahmoud Dahdouli, marks a continuation of SRC’s ongoing efforts to bolster the residential real estate finance market in the Kingdom and expand refinancing opportunities.
This portfolio, the largest among mortgage companies, underscores the commitment of both parties to deliver innovative mortgage solutions to citizens and to contribute to the goals of the Housing Program, a key initiative of Saudi Vision 2030, which aims to increase homeownership among citizens.
Al-Abduljabbar said the agreement is part of an expanded partnership with Bidaya Finance, to inject additional liquidity and boost stability in the Kingdom’s real estate finance market. “The agreement is a significant step toward achieving the strategic objectives of the Housing Program by offering flexible financing solutions to Saudi families,” he added.
“It is a key step in our efforts to forge strategic partnerships with leading financial institutions, aimed at developing an active secondary market for residential real estate financing in the Kingdom.”
Dahdouli, meanwhile, said: “This agreement with SRC represents a strategic milestone in strengthening our role in providing innovative financing solutions that contribute to the development of the securities market through mortgage portfolios.
“It also aligns with our vision to empower a brighter financial future for our clients to achieve their aspirations and meet their needs, aligning with the objectives of the Housing Program under the Kingdom’s Vision 2030 to increase homeownership among citizens.”
The SRC was established by the PIF in 2017 to develop the Kingdom’s real estate finance market. Licensed by the Saudi Central Bank to operate in the field of real estate refinancing, SRC plays a pivotal role in achieving the objectives of the Housing Program under Saudi Vision 2030, which seeks to increase homeownership rates among Saudi citizens. This is accomplished by providing liquidity to financiers, enabling them to offer affordable housing finance to individuals, and working closely with partners to support the Kingdom’s housing ecosystem.
Audi strengthens partnership with Key Car Rental
Audi Saudi Arabia and Samaco Motors, the exclusive dealer for Audi cars in the Kingdom, are celebrating their enduring partnership with Key Car Rental, a partner since 1998. The collaboration has grown stronger over the years, with Key Car Rental selecting a curated fleet of Audi vehicles to meet the diverse needs of premium rental customers across the Kingdom. The partnership has enjoyed an increase in the purchase of Audi cars, with a diverse fleet including Audi A4, A6 and A8 models, in addition to the Audi Q2 and Q3 now also available across rental points of sales across the Kingdom.
To honor the partnership, Audi and Key Car Rental recently hosted a celebration at the Audi showroom in Jeddah. The event marked the delivery of the latest additions to Key Car Rental’s growing premium rental fleet and highlighted the increasing demand for Audi vehicles in the Saudi rental market. Top management from both Key Car Rental and Audi Saudi Arabia were in attendance, as well as representatives from sales and marketing divisions, all of whom celebrated the continued success of this collaboration.
“The continuous expansion of our fleet with Audi range has been a significant milestone for Key Car Rental, marking a new era in our service offering with the help of Audi’s seamless operations, which has greatly contributed to increasing our sales and customer satisfaction,” said Khalid Baghdadi, CEO of Key Car Rental.
Key Car Rental demonstrated unwavering trust in Audi’s product portfolio, by purchasing 100 units of the Audi Q2 and Q3 models, which were strategically distributed across their PoS locations throughout the Kingdom.
This bold move underscored the growing demand for the luxury segment within the Saudi rental market. The entry SUV models Audi Q2 and Q3 perfectly balance premium, performance, and affordability, meeting the needs of customers who seek premium quality at a competitive price point. The Q2, compact yet efficient, combines urban versatility with Audi’s cutting-edge design, making it ideal for those who value agility and style. Meanwhile, the Q3 offers a refined driving experience, blending performance and comfort to provide the perfect solution for customers seeking a practical, yet premium vehicle.
“This collaboration has been a significant turning point for us. The addition of these vehicles to our fleet highlights our commitment to providing exceptional, premium experiences for both business and leisure clients,” said Saleh Aljerwi, COO of Key Car Rental.
In 2014, Key Car Rental successfully facilitated more than 29,000 Audi rentals across Saudi Arabia, with a growing selection of models available for customers to choose from.
“This partnership with Key Car Rental has been instrumental in driving Audi’s growth in the region. As we continue to strengthen our presence, we are proud to offer a diverse fleet of vehicles that elevates the rental experience in Saudi Arabia for local customers and the increasing business travel and leisure tourism the Kingdom continues to enjoy,” said Simon Horabin, general manager of Audi Saudi Arabia.
Abeer Medical Group celebrates 25 years in Saudi Arabia
Abeer Medical Group celebrated 25 years in Saudi Arabia with a grand ceremony held at the Ritz-Carlton Jeddah. The celebration brought together guests from various sectors, including officials from the Ministry of Health, insurance providers, bankers, diplomats, suppliers, and leaders from the business community.
The event commenced with a warm welcome from Dr. Jemshith Ahmed, vice president of strategic planning and medical affairs, who expressed gratitude for the support and dedication of everyone involved in Abeer’s journey.
Alungal Mohammed, president of Abeer Medical Group, reflected on the challenges the organization has faced over the years, emphasizing the resilience and commitment of the team. He expressed appreciation for all stakeholders, whose unwavering support has been pivotal in Abeer’s growth.
The Vision 2030 roadmap, designed by Crown Prince Mohammed bin Salman under the guidance of King Salman, has paved the way for Abeer to expand its services to meet the growing healthcare needs of the community. With plans to add around 40 new centers across major and tier 2 cities, Abeer will enhance its capacity to serve a growing patient base.
The president also highlighted the importance of collaboration with government ministries, insurance companies, and community members, in driving Abeer’s mission forward. Looking to the future, Abeer is dedicated to harnessing technology and innovation while continuing its commitment to patient-centered care, he said.
Dr. Ahmed Alungal, executive vice president, shared insights into the group’s current standing in the healthcare sector and outlined an ambitious vision for the future.
Dr. Alungal highlighted the introduction of two new verticals designed to enhance Abeer Medical Group’s service offerings: Lavender Health — a premium clinic that provides a carefully curated selection of specialties tailored specifically for niche groups, and Abeer Express clinics — local neighborhood clinics that deliver accessible and affordable primary healthcare services to the community. He outlined Abeer’s ambitious expansion plans, revealing that the organization would grow its presence from the current six cities to more than 15 across the Kingdom. This expansion is set to significantly increase its reach, making quality healthcare accessible to more than 14 million care seekers, up from the current 4 million.
Among the guests at the event were Mohammed Alhassan, co-founder and co-CEO of Gulf Islamic Investments, and Khaled Almaeena, director of Abeer Medical Group, who praised Abeer’s achievements and contributions to the community.
The evening concluded with Hamza Dagistani, vice president of human capital and shared services, proposing a vote of thanks, recognizing the collaborative efforts and dedication of all who have contributed to the group’s success over the past 25 years.
Wallan Trading launches 2025 Lotus Emeya in Riyadh
Wallan Trading Company has unveiled the new 2025 Lotus Emeya, the first electric hyper-GT that joins the brand’s lineup of next-generation hyper electric vehicles. The Emeya combines an elegant, sporty design with the latest cutting-edge technologies to deliver dynamic driving pleasure.
The Lotus Emeya offers world-class luxury, comfort, and seamless connectivity. It is equipped with a number of advanced technologies designed to instill customer confidence and safety while offering future-ready capabilities for autonomous driving. The vehicle is also designed for software updates to remain at the forefront of innovation.
The launch event took place at the newly inaugurated Lotus showroom in the luxury car mall, I Mall, Riyadh, attended by Fahad Al-Wallan, chairman of Wallan Holding, along with senior officials, guests, customers, and members of the media.
Al-Wallan highlighted the strong partnership between Wallan Trading and Lotus, which he said is delivering the world’s best designs and innovations in high-performance sports cars to Saudi customers. He said: “The Lotus Emeya sets new standards for the future of luxury electric mobility. The Emeya is an exceptional addition to the Lotus lineup in Saudi Arabia, which also includes the electric Lotus Eletre and Lotus Emira — both featuring innovative sports designs and remarkable capabilities.”
Al-Wallan also reaffirmed Wallan Trading’s commitment to serving Lotus customers and providing advanced services for their vehicles, ensuring an exceptional driving experience and peace of mind for customers.
Dan Palmer, president and CEO of Lotus Cars for Asia Pacific, Middle East, and Africa, highlighted the importance of the Saudi market and the shared vision with Wallan Trading to strengthen Lotus’ presence in the Kingdom, saying: “The Lotus Emeya is the ideal choice for customers seeking a combination of luxury, high performance, comfort, and safety.”
The Emeya sets a new standard for the experience of driving luxury electric vehicles, bringing together the brand’s rich history, with sports car levels of performance and latest technologies.”
The Lotus Emeya, with up to 905 horsepower, is considered one of the fastest electric GTs in the world. It accelerates from zero to 100 km/h in under 2.8 seconds and can charge from 10 percent to 80 percent in just 14 minutes using a 400 kW DC fast charger. This makes it one of the fastest-charging electric cars available today.
Its powerful, efficient, and refined all-electric powertrain delivers the perfect balance of high performance, responsiveness and range with a maximum of 610 km per charge. The Lotus Emeya includes a range of advanced and active aerodynamic features such as the pioneering active front grille, rear diffuser, and rear spoiler to ensure smooth airflow, combined with a low center of gravity that enhances stability when driving and sets a standard for exceptional handling capability.
Drivers can select from up to five driving modes (Range, Tour, Sport, Individual, and Track) to tailor the car’s performance. An electronically controlled air suspension system with advanced onboard sensors responds to changes in road conditions and automatically adjusts the vehicle setup. This ensures a smooth ride and optimum driving experience for customers.
The Lotus Emeya is consciously designed with advanced sustainable materials that are sustainably sourced to reduce its carbon footprint.
It is equipped with a state-of-the-art 15.1-inch HD OLED Lotus HyperOS award-winning in-car infotainment system, which intelligently helps drivers locate nearby public chargers. The system can also suggest alternative routes based on the driver’s real-time battery consumption.
The Lotus Emeya is designed for practicality without compromising on luxury. It features a luxurious and ample boot of up to 509-liters, a functional and spacious interior, ambient lighting functions that intuitively communicates with the driver, and five massage modes at three different levels of intensity.
