Kerten Hospitality announces ‘House Urban Eco Resort’ in Riyadh

Kerten Hospitality announces ‘House Urban Eco Resort’ in Riyadh
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Updated 13 March 2024
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Kerten Hospitality announces ‘House Urban Eco Resort’ in Riyadh

Kerten Hospitality announces ‘House Urban Eco Resort’ in Riyadh

Kerten Hospitality, in partnership with developers RIKAZ and RAFAL and with the support of the Ministry of Tourism, unveiled a ground-breaking project in the heart of Riyadh — The House Urban Eco Resort. This unique resort is set to redefine urban eco-living, blending leisure, wellness, and business within a sustainable and luxurious environment.

Kerten Hospitality — a global hotel operator recognized for its innovative approach to integrated living — has projects spanning across various countries, each uniquely tailored to embody the local culture and community ethos. With a diverse portfolio that includes bespoke hotels, residences, and lifestyle destinations, Kerten Hospitality is at the forefront of creating spaces that blend work, life, and leisure in harmonious synergy.

Situated in the heart of Riyadh, The House Urban Eco Resort is a paradigm of urban eco-friendliness, seamlessly blending green living within the city’s vibrant landscape. It boasts diverse services that cater to every need, featuring outdoor and dynamic working spaces, all resonating with the forward-thinking ethos of Vision 2030. The resort further distinguishes itself with its integrated dining and event spaces, offering a versatile setting for both private gatherings and curated events.

A cornerstone of the resort is its wellness focus, encompassing modern spa treatments and comprehensive wellness facilities including therapeutic treatments. Additionally, The House Urban Eco Resort offers a tranquil haven for staycations, casual social hangouts and corporate stays, making it the epitome of sophisticated urban living combined with eco-conscious sensibilities.

The House Urban Eco Resort Riyadh emerges as a one-of-its-kind sustainable urban oasis in the bustling cityscape. It embodies the essence of eco-conscious living while providing high-end services and facilities. The resort aims to preserve and enhance the oasis, keeping the distinctiveness of Riyadh’s natural oasis intact while creating a purposeful destination for both international travelers and locals.

It offers a blend of leisure, wellness, and business through its versatile mix of amenities catering to a diverse range of needs — from wellness elements to business facilities.

The resort will feature an interactive F&B experience in collaboration with local chefs, offering behind-the-scenes dining and event hosting. This initiative aims to provide a versatile culinary experience, seamlessly merging dining with event spaces.
Marloes Knippenberg, CEO of Kerten Hospitality, said: “The House Urban Eco Resort Riyadh is not just a resort; it’s a live demonstration of Saudi Arabia’s Vision 2030. It showcases the future of sustainable urban development, today. The resort’s eco-conscious design and services embody the principles of Vision 2030, offering guests a unique glimpse into the future of urban living.”

Unlike traditional eco resorts situated in remote natural settings, The House Urban Eco Resort revolutionizes sustainability by providing a green haven amidst vibrant cityscapes. With Riyadh as just the beginning, Kerten Hospitality’s plans include extending their footprint across Saudi Arabia, targeting various urban locales. This expansion mirrors the increasing desire for eco-friendly hospitality options in urban locations.

Kerten Hospitality, in strategic alliance with RIKAZ and RAFAL, and bolstered by the support of the Ministry of Tourism, is redefining the standards in eco-conscious urban hospitality. With The House Urban Eco Resort Riyadh, they are not just building a resort; they are crafting a sustainable future.

The Ministry of Tourism’s involvement plays a critical role in providing methodical guidance, ensuring that the project aligns with national tourism objectives and sustainability goals. The Ministry’s support is instrumental in amplifying the resort’s impact on the local community and the environment, promoting it as a model for eco-friendly urban development in the Kingdom.

RIKAZ, under Chairman and CEO Khalid Algahtani, is renowned for innovative projects that emphasize community integration and environmental values. Their commitment to “Rising Beyond” reflects in every project, including this foray into hospitality. Algahtani said: “At RIKAZ, we firmly believe in the power of strategic partnerships. This collaboration aligns seamlessly with RIKAZ’s expansion strategy by fostering partnerships with highly respected institutions like Kerten Hospitality and Rafal. It underscores our commitment to tapping into the significant real estate development in Saudi Arabia, in harmony with the ambitious Vision 2030. By leveraging this premium location and its natural oasis status, we firmly believe that the Urban Eco Resort will be a new experiential retreat to the hospitality market.”

RAFAL, led by CEO Elias Abou Samra, is dedicated to developing distinguished communities in Riyadh. Known for projects like Burj Rafal and RAFAL Residence, their partnership with Kerten Hospitality is a testament to their expertise in creating unique lifestyle experiences.

Kerten Hospitality’s “The Collective” initiative marks a significant investment in the Saudi hospitality sector, with 22+ projects. This initiative not only demonstrates Kerten Hospitality’s commitment to expanding its footprint in the Kingdom but also highlights its role in shaping the future of hospitality in the region. 


BSF Capital partners with BlackRock to deliver innovative investment solutions in Saudi Arabia

BSF Capital partners with BlackRock to deliver innovative investment solutions in Saudi Arabia
Updated 04 February 2025
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BSF Capital partners with BlackRock to deliver innovative investment solutions in Saudi Arabia

BSF Capital partners with BlackRock to deliver innovative investment solutions in Saudi Arabia

Saudi Fransi Capital, a leading Capital Markets Institution in Saudi Arabia, has partnered with BlackRock, the world’s largest asset management firm.

The collaboration will integrate BSF Capital’s deep local insights and market knowledge with BlackRock’s global expertise in asset management and investment advisory services. Together, the two firms will introduce a range of multi-asset investment strategies with a focus on global exposures designed to align with the evolving financial goals of clients in the Kingdom across all segments.

Salam Al-Khunaizi, CEO and board member of BSF Capital, said: “We are proud to build on our long-standing relationship with BlackRock, which marks an important milestone for BSF Capital. This collaboration strengthens our ability to deliver innovative, client-focused investment solutions that meet the evolving needs of our clients and reinforce our position as a leader in the Kingdom’s financial sector. Aligned with Saudi Arabia’s Vision 2030 and the Financial Sector Development Program, this partnership reflects our commitment to supporting the development of the financial sector through promoting income diversification, boosting savings, and offering various investment opportunities.”

Yazeed Almubarak, CEO of BlackRock Saudi Arabia, said: “We’re delighted to expand our partnership with BSF Capital to bring tailored investment solutions to the Saudi market that help investors meet their financial needs and ambitions. At BlackRock, we share BSF Capital’s steadfast commitment to supporting the delivery of Vision 2030 through expanding the Kingdom’s capital markets and introducing unique and differentiated investment solutions.”


Stellar launches as catalyst to transform education in KSA

Stellar launches as catalyst to transform education in KSA
Updated 03 February 2025
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Stellar launches as catalyst to transform education in KSA

Stellar launches as catalyst to transform education in KSA

Stellar, a newly established independent education solutions provider, marked its official launch with two private events in Riyadh and Jeddah. Emerging from Emkan Education’s Cambridge department, Stellar represents a new chapter in delivering innovative, reliable, and impactful education services to empower learners, educators, schools and institutions across the Kingdom.

The launch events celebrated Stellar’s mission of “Education Beyond Limits,” a vision deeply aligned with Saudi Arabia’s Vision 2030, which emphasizes educational transformation and the development of a globally competitive workforce.

Prominent figures attended the events to lend their support to this milestone. In Riyadh, Dr. Ahmed Al-Aqeel of Downe House, Dr. Ibrahim Alfarhan, general manager of international education at Ataa Educational Company, and Dr. Asmaa Al-Qadi from Al-Tarbyah Al-Islamyah Schools, joined the celebration, commending Stellar’s efforts to bridge gaps in knowledge and create opportunities for success.

The Jeddah event welcomed Arwa Alkheriji of Al-Andalus Education Company, Wafa Ashmawi of Maarif, and Siham Ouri, education adviser at the US Consulate, who highlighted the value of global collaboration in fostering local educational advancements.

Stellar builds upon Emkan Education’s decade-long journey and values of empowering schools, educators, and learners. Now an independent entity, Stellar is poised to expand its reach as a partner who can provide comprehensive, tailored support across every aspect of education. A wide range of services will be offered that cater to the unique needs of schools, teachers, and students, with the support of expert partners who share the same values.

Central to Stellar’s success is its strong network of partnerships, including collaborations with renowned organizations such as Cambridge International, Aanaab, and Transform International.

During the events, Stellar recognized the contributions of its four ambassadors: Ann Philip from Reigate Grammar School Riyadh, Asma Al-Qunaisi from AlKuttab Company, Wafaa Ashmawi from Maarif Education Company, and Mohammed Eissa from AlKhandaq International School. Their heartfelt testimonials highlighted Stellar’s profound impact on their institutions and its role in driving educational excellence. Activities such as storytelling sessions and networking opportunities further enriched the celebrations, emphasizing the values of collaboration, leadership, and continuous improvement.

Khulood Eshaq, Stellar’s CEO, said during the launch: “Stellar is not just a provider; we are a trusted partner committed to education beyond limits. Our work aligns with the Human Capital Development Program, contributing to Saudi Arabia’s Vision 2030 by driving excellence and inspiring lifelong learning.”

The Stellar launch events concluded with an invitation for schools, educators, and stakeholders to join its mission of transforming education.


Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’

Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’
Updated 03 February 2025
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Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’

Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’

Saudi Awwal Bank, a leading financial institution in the Kingdom, has been honored by Global Finance as the “Best Trade Finance Provider” in Saudi Arabia for 2025.

The prestigious award marks the fifth consecutive year SAB has received this recognition since its landmark merger, further solidifying its reputation as the foremost trade finance institution in the Kingdom and reflecting its remarkable performance in 2024.

The award is based on a comprehensive evaluation of several key factors, including transaction volumes, global coverage, customer service excellence, competitor benchmarking, and the adoption of innovative technologies. Feedback from multinational decision-makers worldwide and insights from industry analysts and corporate executives underscored SAB’s ability to consistently outperform competitors and maintain a strong position in the competitive trade finance sector.

Yasser Al-Barrak, chief corporate and institutional banking officer at SAB, said: “This award reflects the unwavering dedication, hard work, and collaboration of numerous departments across SAB in addressing our clients’ complex and evolving needs. Our success is driven by the expertise of our teams, our innovative solutions, exceptional service, and global reach through our partnership with HSBC.”

He added: “We are also committed to providing the best services and projects that support development and promote economic growth to achieve the goals of Saudi Vision 2030.”

SAB’s product and service offerings and its steadfast commitment to client satisfaction have positioned it as a vital driver of trade within the Kingdom.

Despite a dynamic business environment, SAB continues to deliver tailored solutions that meet the unique needs of both local and multinational clients. This adaptability and innovation have enabled the bank to sustain robust performance metrics and reaffirm its status as a preferred provider of both conventional and Islamic trade finance solutions.

Today, as a leader in trade finance, SAB is aligned with Saudi Arabia’s Vision 2030 goals, striving to enhance the Kingdom’s economic growth and positioning itself as a key player in the global financial landscape.


Saudi firms yet to fully embrace AI: Cisco survey

Saudi firms yet to fully embrace AI: Cisco survey
Updated 02 February 2025
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Saudi firms yet to fully embrace AI: Cisco survey

Saudi firms yet to fully embrace AI: Cisco survey

Ahead of the LEAP 2025 conference in Riyadh, Cisco announced findings from its latest AI Readiness Index, which reveals that 72 percent of organizations in the Kingdom have a strategy to deploy AI powered solutions in their organization. The report highlights that despite increasing urgency in deployment and investment, businesses in Saudi Arabia face challenges in adopting, deploying, and fully leveraging AI, amid the rapid market evolution and the significant impact AI is anticipated to have on business operations.

The index is based on a double-blind survey of 7,985 senior business leaders from organizations with 500 or more employees across 30 markets, including Saudi Arabia. These leaders are responsible for AI integration and deployment within their organizations. The AI Readiness Index is measured across six pillars: strategy, infrastructure, data, governance, talent, and culture.

Key findings include:

Acting with urgency

AI has become a cornerstone for business strategy, and there is an increasing urgency among companies to adopt and deploy AI technologies. In the Kingdom, nearly all (98 percent) report an increased urgency to deploy AI in the past year, primarily driven by the CEO and leadership team. Nearly all (86 percent) companies say they only have 18 months to start demonstrating the impact of AI. More than half (60 percent) give it only 12 months.

Rising investment

Over the past year, AI has been a priority spend for organizations in Saudi Arabia, with 50 percent allocating 10-30 percent of their IT budgets to AI projects. AI investments have focused on three strategic areas: IT infrastructure (51 percent), cybersecurity (40 percent), and data management (38 percent). The top three outcomes they aim to achieve include improving the efficiency of systems, processes, operations, and profitability; the ability to innovate and remain competitive; and creating a better experience for customers and partners. 

Salman Faqeeh, managing director, Cisco Saudi Arabia

Infrastructure gaps

Networks are yet to be equipped to meet AI workloads. There are gaps in compute, data center network performance, and cybersecurity, among other areas. Only 31 percent of organizations have the necessary GPUs to meet current and future AI demands and nearly a third (34 percent) have the capabilities to protect data in AI models with end–to–end encryption, security audits, continuous monitoring, and instant threat response. In Saudi Arabia, 62 percent rated improving scalability, flexibility, and manageability of their IT infrastructure as their top priorities, showing they are aware of the gaps that need to be addressed.

Skills development

A lack of skilled talent is a top challenge for companies in Saudi Arabia, underscoring the critical need for skilled professionals to drive AI initiatives. Only 46 percent of Saudi organizations claim their talent is at a high state of readiness to fully leverage AI, and 39 percent say their organizations lack in-house talent necessary for successful AI deployment.

Salman Faqeeh, managing director, Cisco Saudi Arabia, said: “Saudi Arabia is at the forefront of embracing AI as a catalyst for digital transformation. The findings of Cisco’s recent AI Readiness Index highlight the significant strides organizations in the Kingdom are making, with clearly defined strategies and increasing investments in AI. At Cisco, we are committed to empowering organizations with cutting-edge technologies and expertise to realize the full potential of AI.”

He added: “Our participation at LEAP 2025 under the theme ‘Cisco Connects and Protects the AI Era,’ underscores our dedication to promoting innovation and collaboration in the country, in alignment with the Kingdom’s Vision 2030 goals.”

This year, Cisco’s participation at LEAP 2025 centers around connecting and protecting businesses in the AI era. Visitors will have the opportunity to engage with subject matter experts at Cisco’s booth and explore innovative solutions designed to transform data centers to power AI workloads, modernize workplaces for seamless collaboration, and enhance digital resilience with advanced security and observability.


Honeywell, Petro Rabigh sign MoU to license NEP technology

Honeywell, Petro Rabigh sign MoU to license NEP technology
Updated 02 February 2025
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Honeywell, Petro Rabigh sign MoU to license NEP technology

Honeywell, Petro Rabigh sign MoU to license NEP technology

Under the patronage of the Ministry of Energy, Petro Rabigh and Honeywell have signed a memorandum of understanding to explore the deployment of Honeywell UOP’s naphtha-to-ethane-and-prop technology. The signing ceremony was sponsored by Assistant Minister for Development and Excellence at the Ministry of Energy Ahmed Al-Zahrani, reaffirming the Kingdom’s commitment to fostering innovation and sustainability in the energy sector.

The non-binding MoU represents a significant milestone in leveraging advanced technologies to transform butane and naphtha into high-value feedstocks for light olefin production, such as ethylene and propylene.

This collaboration will demonstrate and commercialize the innovative NEP technology, enhancing productivity, operational efficiency, and sustainability through the production of value-added petrochemical products from crude oil. The initiative aligns with the goals of Saudi Vision 2030 to drive innovation in the energy sector, promote liquid-to-chemical processes, and improve energy efficiency and economic resilience.

Petro Rabigh is the largest integrated refinery and petrochemical complex in Saudi Arabia, producing fuels and high-value petrochemical products. 

Honeywell has been a key player in the region for more than 70 years, delivering cutting-edge solutions and actively contributing to the government’s vision of advancing technology adoption and development efforts.