Innovatively designed Dammam mosque wins award

Innovatively designed Dammam mosque wins award
The Retal Mosque provides an innovative yet spiritually resonant space that serves not only as a place of worship but as a beacon of sustainability, beauty and community-centered design.
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Updated 01 December 2024
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Innovatively designed Dammam mosque wins award

Innovatively designed Dammam mosque wins award

The World Architecture Festival, the largest live-judged architecture awards program, recently announced the winners of its 2024 awards. The Retal Mosque project, a ground-breaking architectural concept spearheaded by architecture and design firm Pace, has won in WAF’s prestigious Future Project: Competition Entries category.

In a live event in Singapore, a jury of 175 industry experts selected finalists across 43 categories, celebrating more than 480 innovative architectural projects from 71 countries.

Pace CEO and architect Tarek Shuaib said: “We are incredibly honored to receive this prestigious global award, which stands as a reflection of our commitment to setting and exceeding international standards in architecture and design. This award is not only a testament to the hard work and creativity of everyone involved, but is also a reflection of the values we hold as a firm, as well as our dedication to creating designs that resonate on a global scale.”

As an iconic project nestled in the heart of Nesaj Town 2 in Dammam, the Retal Mosque redefines what a mosque can be, providing an innovative yet spiritually resonant space that serves not only as a place of worship but as a beacon of sustainability, beauty and community-centered design. With its striking “floating gem” design, the mosque invites worshippers into an architectural oasis, providing a place of refuge from the surrounding urban landscape and a venue to reconnect with faith, community and self.

Shuaib said: “Our vision was to create a mosque that resonates with both the traditional and contemporary sensibilities of the community, reflective of Islamic values while pushing the boundaries of what a mosque can be architecturally. We wanted the Retal Mosque to reflect the spiritual journey itself. The experience of entering the mosque is meant to feel transformative, like stepping into a sanctuary where the outside world slows down.”

The mosque’s interior holds a deep sense of serenity, with carefully designed spaces for both male and female worshippers. The lifted structure shelters a sunken male prayer hall, creating an isolated environment conducive to introspection and prayer, while the ground-level female prayer space emphasizes inclusivity and accessibility.

Reflective pools, pathways and a rotating canopy oriented toward the Qibla harness natural elements of light and water, allowing worshippers to experience a setting that is meditative, serene and connected to nature.

Consistent with Retal’s vision, “We build for generations,” and drawing inspiration from LEED and WELL standards, Pace ensured that commitment to sustainable architecture is woven into every element of the design. Among its main green approaches is a self-shading building, whereby the mosque utilizes a large canopy to create passive shading, effectively minimizing thermal heat gain. In addition, its sunken prayer hall naturally reduces temperatures.

Furthermore, trees populate the courtyard, extending into the community park, and enhancing thermal comfort while providing a lush, green respite within the mosque’s surroundings. Reflective pools and water features further cool the environment, reducing the need for mechanical cooling systems.

Another sustainable concept integrated into the design is the reuse of water. The mosque’s courtyard has been designed with a gentle slope to channel rainwater into a grey-water recycling system, which is then used for fountains and irrigation.

“The Retal Mosque represents the future of religious spaces — places that embrace modernity without losing sight of cultural and spiritual depth. This award is a monumental achievement for us at Pace and contributes to our vision to continue creating spaces that serve communities, uplift the human spirit and honor our environment,” Shuaib added.


Lean showcases leadership in digital healthcare innovation at LEAP 25

Lean showcases leadership in digital healthcare innovation at LEAP 25
Updated 15 February 2025
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Lean showcases leadership in digital healthcare innovation at LEAP 25

Lean showcases leadership in digital healthcare innovation at LEAP 25

Lean Business Services, a Public Investment Fund subsidiary, demonstrated its leadership in digital healthcare transformation at the LEAP 25 tech conference in Riyadh, presenting cutting-edge solutions designed to advance operational efficiency, diagnostic precision, and patient care across Saudi Arabia. This participation aligns seamlessly with the goals of Saudi Vision 2030 and the Health Transformation Program, reinforcing Lean’s commitment to driving innovation in healthcare.

As part of its participation, Lean forged strategic partnerships with leading local and international organizations. A notable collaboration with Ascend Solutions will establish advanced health command centers, leveraging big data analytics to enhance medical decision-making processes. Additionally, an agreement with Takamol Holding will facilitate the development of an AI-powered digital healthcare ecosystem. Lean also signed a memorandum of understanding with Elm to co-develop digital health solutions, and a framework agreement with Pfizer to integrate digital health innovations into the pharmaceutical landscape, enhancing patient experiences through cutting-edge technology.

At its booth, Lean unveiled pioneering technologies, including its digital twin solution, which uses AI-driven data analytics to create predictive health models for proactive healthcare planning. The company also showcased genomics technologies for precise diagnostics and personalized treatment, alongside its digital clinic, which is a mobile health unit providing advanced medical services anytime, anywhere, without the need for on-site medical staff.

The Lean booth attracted visits from key figures, including Minister of Health Fahad Al-Jalajel, Minister of Communications and Information Technology Abdullah Al-Swaha, and Director of the National Information Center Dr. Esam Al-Wagait, all of whom explored the company’s innovative healthcare solutions.

Lean’s participation at LEAP 25 reflects its ongoing mission to redefine healthcare through digital innovation, contributing to the development of an integrated, efficient, and sustainable digital health ecosystem that enhances quality of life and supports Saudi Arabia’s national transformation goals.


barq launches digital wallet in Pakistan

barq launches digital wallet in Pakistan
Updated 15 February 2025
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barq launches digital wallet in Pakistan

barq launches digital wallet in Pakistan

barq Holding, the parent company of barq Financial, has announced the launch of its barq digital wallet in Pakistan.

It is part of its strategy for international expansion and enhancing digital payment solutions in global markets.

This launch follows the wallet's success in Saudi Arabia, where the barq financial app has become one of the fastest-growing apps globally in a record time.

The barq wallet aims to provide a seamless and secure payment experience for its customers in Pakistan, offering advanced digital financial solutions, enabling individuals and businesses to carry out transactions with ease and efficiency.

Through this expansion, the company seeks to support the digital transformation efforts in the payments sector and promote financial inclusion in the region.

This launch is part of barq Holding's vision to strengthen its presence in global markets.

The company plans further regional and international expansions in the coming period, focusing on markets with high growth potential in the fintech sector.


Estithmar net profit increases by 20%, revenues rise by 44%

Estithmar net profit increases by 20%, revenues rise by 44%
Updated 15 February 2025
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Estithmar net profit increases by 20%, revenues rise by 44%

Estithmar net profit increases by 20%, revenues rise by 44%

Estithmar Holding announced its financial results for the year ended on Dec. 31, 2024, approved by the company’s board of directors.

The company recorded a 44 percent increase in revenues, reaching 4.2 billion Qatari riyals, compared to 2.9 billion Qatari riyals in 2023.

The gross profits of the company reached 1 billion Qatari riyals, up from 801 million Qatari riyals in 2023, reflecting a 27 percent increase.

The company also achieved earnings before interest, tax, depreciation, and amortization (Ebtida) of 742 million Qatari riyals. The results showed a 20 percent rise in the company’s net profit compared to 2023, reaching 422 million Qatari riyals. Earnings per share also increased by 17 percent from 2023, reaching 0.119 Qatari riyals per share.

The 20 percent growth in net profit is attributed to the increase in the company’s revenues, which were primarily driven by the contracting and healthcare clusters.

The contracting cluster expanded in executing and delivering projects efficiently in Saudi Arabia.

The healthcare cluster contributed to the rise in 2024 revenues.

It was driven by the sustainable performance growth of The View Hospital in Qatar, and the expansion of the cluster through the subsidiary Apex Health, which signed management and operation agreements for several hospitals.

A set of measures taken in the ventures cluster has also contributed to restructuring the business model and increasing revenues.

The financial results for 2024 reported a 25 percent increase in assets compared to the previous year, resulting from the new projects added to Estithmar Holding’s portfolio, including the Korean Medical Center in Lusail, the Rixos Baghdad project in Iraq, and the Rosewood Maldives Resort.

The board of directors of Estithmar Holding recommended a dividend distribution equivalent to 10 percent of the capital, with one free share for every 10 shares.

The results have demonstrated the ability of the holding company to maintain sustainable growth, enabling it to expand regionally and internationally, supported by the broad trust it has gained from its successful track record across all operational sectors locally.

In 2024, the company signed numerous agreements with sovereign wealth funds and regional government entities to transfer its expertise, particularly in healthcare, specialized contracting, services, and real estate development sectors.

The contracting cluster contributed 42 percent to the company’s revenues in 2024, driven by its notable activity both locally and regionally, especially in Saudi Arabia.

The cluster completed several agreements and contracts in 2024, with Elegancia Arabia, one of Estithmar Holding’s companies, participating in massive projects such as NEOM, the Red Sea Project, and AMALA, among others.

The services cluster contributed 35 percent to the company’s revenue.

This sector provides services such as facilities management, catering services and solutions, manpower and human resources, and event support, among others.

In 2024, the cluster expanded into Iraq, Libya, in addition to its operations in Saudi Arabia and Jordan.

The healthcare cluster continued to achieve sustainable growth, driven by the company’s expansion in applying the hospital management and operation model regionally, including in Iraq and Libya.

Hospitals within Qatar — The View Hospital and The Korean Medical Center — continued to gain trust by adhering to the highest international quality standards, hosting world-class medical professionals, and activating partnerships with leading international medical institutions such as Cedars-Sinai (US) and Asan Medical Center (South Korea), among others.

The ventures cluster performed steadily, attributed to the demand for the sector’s projects, including Al-Maha Island, which received over 4.7 million visitors in 2024.

The year also concluded a strong finish for the second season of Lusail Winter Wonderland and a successful launch of its third season, attracting thousands of Qatar residents and tourists.

Additionally, the sector’s hotel facilities, such as Katara Hills and Maysan Doha resorts, continued to lead the luxury hospitality sector in Qatar throughout the year.

Similarly, the cluster’s projects outside Qatar have progressed, The Rixos Baghdad project that features residential apartments, and a world-class hotel made significant progress in its construction phase, and The Rosewood Maldives Resort project is also advancing rapidly in terms of completion and is expected to become a prominent tourism destination in the Maldives and globally.


Saudi fintech barq secures multiple MoUs for future growth

Saudi fintech barq secures multiple MoUs for future growth
Updated 15 February 2025
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Saudi fintech barq secures multiple MoUs for future growth

Saudi fintech barq secures multiple MoUs for future growth

barq concluded its participation in LEAP 25, organized by the Saudi Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming, and Drones, and Tahaluf Company.

The Feb 9-12 event took place at the Riyadh Exhibition and Convention Center in Malham, north of Riyadh.

On the final day of the event, barq announced the signing of additional MOUs with leading entities and global and Saudi tech companies.

This initiative aims to enhance its ongoing development approach for services, improve customer experiences, and provide more innovative features and solutions that meet their aspirations and needs.

The MoUs were signed on behalf of barq by Walid Al-Hassoun, chief information officer; Muqrin Al-Shammari, corporate management director; Mishaal Al-Aboudi, loyalty and engagement development manager; and Abdulelah Al-khathlan, acquiring director.

The signing companies included Cosmo aimed at diversifying services and enhancing customer experience, represented by Rawad Rifai, co-founder and CEO.

Hyperpay aimed to improve the quality of services and offerings for customers, represented by Muhannad Ebwini, founder and CEO.

An MOU with groq was signed to support barq's service ecosystem with the latest tech solutions using artificial intelligence, represented by Fahad Al-Turaif, vice president and executive director for the Middle East and North Africa.

An MOU with Future Work was signed to enhance barq's customer experience and develop more innovative solutions, represented by Abdullah Al-Emran, executive director.

LEAP has been hosted by the Kingdom for the fourth time and witnessed the announcement of strategic agreements and major investment launches worth up to $15 billion.

Numerous MoUs were signed between participating companies and entities, attended by prominent sector leaders, major investors, and key innovators from around the globe.


LEAP 2025 concludes with multi-billion dollar investments and global expansion

LEAP 2025 concludes with multi-billion dollar investments and global expansion
Updated 14 February 2025
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LEAP 2025 concludes with multi-billion dollar investments and global expansion

LEAP 2025 concludes with multi-billion dollar investments and global expansion

The fourth edition of LEAP 2025, held in Riyadh, has reinforced Saudi Arabia’s position as a global hub for artificial intelligence, cloud computing, and digital infrastructure investments, securing total investments exceeding $14.9 billion.

It was the region’s premier technology event, which concluded at the Riyadh Exhibition and Convention Center in Malham under the theme “Into New Horizons.”

The milestone highlighted the Kingdom’s growing influence in the digital economy and innovation landscape.

The success of LEAP 2025 is a testament to the unwavering support of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz, whose vision continues to drive Saudi Arabia’s digital transformation.

This aligns with Vision 2030’s objectives, solidifying the Kingdom’s leadership in technology, AI, and entrepreneurship.

As a global platform, LEAP brings together top thinkers, industry leaders, and investors to drive innovation and accelerate the shift toward a prosperous and sustainable digital economy.

Organized by the Ministry of Communications and Information Technology, in collaboration with the Saudi Federation for Cybersecurity, Programming, and Drones and Tahaluf Company, LEAP 2025 featured over 200,000 attendees; participation from 1,800 international and local entities; more than 1,000 global speakers; a showcase of 680 startups; and major deals with asset managers overseeing $22 trillion in portfolios

These figures underscore Saudi Arabia’s role as a global innovation hub, attracting top-tier companies and talent in the tech sector.

LEAP 2025 witnessed the announcement of landmark investments that will accelerate digital growth in the Kingdom, including a $1.5 billion partnership between Groq and Aramco Digital to boost AI-powered cloud computing investments; a $2 billion investment between Saudi-based Alat and China’s Lenovo to establish an advanced AI and robotics-driven manufacturing and technology hub; and the launch of several digital infrastructure and innovation projects, reinforcing Saudi Arabia’s position as a top destination for global tech investments.

Eng. Abdullah Alswaha, minister of communications and information technology, emphasized that LEAP 2025 reflects the Kingdom’s leadership in global technology innovation.

He said that the international investments and success achieved by Saudi Arabia’s technology sector "are a direct result of the support and empowerment" of the crown prince.

"This momentum drives Saudi Arabia toward its Vision 2030 goals, strengthening its position as a leader in AI, digital transformation, and entrepreneurship,” he added.

Faisal Al-Khamissi, chairman of the Saudi Federation for Cybersecurity, Programming, and Drones and Chairman of Tahaluf, said: “None of these achievements would have been possible without the support and vision of the crown prince, who has transformed Saudi Arabia into a global hub for advanced technology, innovation, and a sustainable digital economy.

“LEAP 2025 was not just a tech event — it was the largest and most impactful edition to date. It connected startups with investors, drove innovation, and unlocked new opportunities for entrepreneurs.”

Al-Khamissi added: "LEAP will expand globally, with two editions planned for 2026 — one in Riyadh and another in Hong Kong. This marks a significant step in Saudi Arabia’s leadership in the global digital economy and AI-driven innovation."

LEAP 2025 has already accelerated the growth of several startups, with notable success stories including Ejari, which started with a small booth at LEAP and secured a $1 million seed round, followed by another $15 million investment. It has since expanded its team to over 30 employees and attracted $50 million in business opportunities.

Data Lexing, a Saudi startup that debuted at LEAP 2022, has since expanded to 10 international markets with over 2,000 clients, 65% of whom are outside Saudi Arabia.

Quant secured $2 million in investment in a single day at LEAP.

With its record-breaking deals, global partnerships, and visionary expansion plans, LEAP continues to shape the future of AI, innovation, and technology investment worldwide.