In an unprecedented milestone, Prince Mohammed Bin Salman College of Business and Entrepreneurship, the Kingdom’s world-class business school, has announced an increase of more than 220 percent in its graduates this year, marking the largest graduating class to date with a total of 327 graduates in 2024 compared to 101 in 2023. This year also marks the graduation of the first Master of Finance cohort.

The graduating class represents a diverse group of high-calibre professionals from key sectors including government, technology, healthcare, and beyond, many of whom hold C-suite level positions. This diversity underscores the college’s appeal to those aiming to boost their strategic thinking and leadership abilities.

MBSC’s existing graduate programs (Executive MBA, Master in Management, and Master in Finance) showcase a commitment to meeting the demands of the business and finance sectors of the world today.

Dr. Zeger Degraeve, dean of MBSC, said: “The remarkable increase in our graduates this year is a clear indicator of MBSC’s growing impact and effectiveness in the realm of business education. Our hands-on pragmatic approach not only equips our students with essential skills but also instills an entrepreneurial mindset necessary for today’s and tomorrow’s leaders. We aim to provide our students with the tools to emerge as leaders and catalysts for change, ensuring they become pioneers for Vision 2030.”

It is noteworthy that MBSC has been conditionally accredited by the National Center for Academic Accreditation and Evaluation, at Education and Training Evaluation Commission, from May 2024 to April 2026.

The higher education institution is situated in King Abdullah Economic City, a contemporary urban center that provides an unparalleled modern environment for both students and faculty. MBSC offers world-class education “from Saudi Arabia for Saudi Arabia” in both King Abdullah Economic City and Riyadh, delivering practical, pragmatic, hands-on experiential learning to develop a new generation of transformative leaders.

A strategic collaboration between RUUD — a brand in the heating, ventilation, and air-conditioning industry under Rheem Middle East — and Modern Electronics, to become the exclusive distributor for RUUD’s air-conditioning products in Saudi Arabia, comes at a pivotal time when the HVAC sector in the Kingdom is witnessing substantial growth, driven by increased demand across various sectors including residential, commercial, and industrial markets.

The HVAC market in Saudi Arabia is projected to grow significantly, with a compound annual growth rate of 4.2 percent from 2021 to 2026. The surge in demand is attributed to the Kingdom’s rapid urbanization, extensive infrastructure projects, and a growing emphasis on energy-efficient solutions. Major infrastructure developments under Saudi Vision 2030 are further propelling the need for advanced HVAC systems.

Modern Electronics, well-known for its extensive distribution network, is well-positioned to meet this growing demand. The partnership with RUUD will enable Modern Electronics to deliver high-quality, reliable cooling solutions tailored to the specific needs of consumers in Saudi Arabia.

Brian Hempenstall, general manager of Rheem Middle East and Africa, said: “We are thrilled to partner with Modern Electronics as our exclusive distributor in Saudi Arabia. This collaboration underscores our commitment to providing premium HVAC solutions that meet the diverse needs of our customers in the region.”

Samer Bachour, general manager of sales at Rheem Middle East and Africa, said: “Modern Electronics’ market expertise and comprehensive understanding of Saudi Arabia’s HVAC demands make them an ideal partner. Together, we are dedicated to delivering innovative, energy-efficient cooling solutions that cater to the evolving needs of Saudi consumers.”

Wajih Beiruti, CEO of Modern Electronics, added: “We are delighted to join forces with RUUD to bring their best-in-class HVAC products to our customers in Saudi Arabia. By leveraging our local market knowledge and extensive distribution network, we aim to deliver the latest and most advanced cooling solutions, ensuring exceptional quality and value for our consumers.”

RUUD’s parent company, Rheem Middle East, has a strong reputation for providing highly customized and engineered HVAC solutions. In addition to expanding its product offerings, Rheem Middle East is committed to supporting the local HVAC sector’s development. Earlier this year, Rheem Middle East launched an innovation learning center in Riyadh to train young Saudis, aiming to increase local expertise in the HVAC industry.

This partnership and RUUD’s dedication to expanding its market presence and delivering advanced cooling solutions to meet the growing demand in Saudi Arabia also highlights the Kingdom’s appeal as a key market.