Home appliances and consumer electronics brand Beko has opened its first fully branded Saudi showroom in Riyadh.
The company has announced plans to expand further into the country in 2017, by enlarging its product portfolio to cover all home appliances and promoting its smart, green, cutting-edge technology home solutions.
The showroom was inaugurated by executives from Arçelik, Beko’s parent company, and executives from Al Babtain Trading (ABT), Beko’s distributor in Saudi Arabia.
The consumer appliances sector has shown a growth of 20 percent over the past six years, where sales increased from SR7.7 billion in 2011 to over SR10 billion in 2016.
“There are many factors that affect the growth of this dynamic market. We are well-positioned to take advantage of these factors, today and in the future,” said Mete Kirkit, marketing manager of Arçelik.
“Women’s increased participation in the workforce has pushed households to opt for more consumer appliances, which would make their home care routines easier,” he added.
“Modern retailing has also positively contributed by providing consumers with quick, easy and sometimes more economical access to home appliances. From 2010 to 2015, the number of hypermarkets rose by 46 percent while the number of specialized appliances and electronics grew by 18 percent.”
Consumer appliances sector forecasts indicate a continued growth of 12 percent over the next four years (2018 to 2021), where sales are expected to reach SR11.9 billion by 2021.
“We are very well-positioned to address the energy-efficient market with our current range of smart, green next generation products,” said Kirkit. “The Saudi Energy-Efficiency Center (SEEC) continues to make efforts to reduce energy consumption, and we are ready today to meet this initiative.”
Beko has plans to expand further into the GCC countries in 2017 and 2018, and become one of the top three brands in the region.
“We will strive to increase our brand footprint and market share in the GCC to meet the success we are experiencing in Europe, where Beko has become the UK’s best-selling brand,” he added.
Home appliances brand Beko opens first showroom in KSA
Home appliances brand Beko opens first showroom in KSA
25,000 attend Social Development Bank’s DeveGO25 forum
The Social Development Bank concluded the second edition of the Entrepreneurship and Modern Business Practices Forum — DeveGo 2025 — announcing the achievement of high-impact outcomes that further reinforced the forum’s position as the largest national platform in the region dedicated to entrepreneurship, innovation, and freelance work in Saudi Arabia and beyond.
The forum witnessed broad participation from local and international experts, investors, entrepreneurs, and representatives of local, regional, and international institutions.
Over three days at the King Abdulaziz International Conference Center, the forum drew 25,000 participants and visitors, who benefited from over 45 specialized workshops and over 2500 advisory sessions delivered by more than 70 consultants and experts.
The sessions covered key areas including entrepreneurial planning, business models, venture capital, digital platforms, freelancing, and emerging technologies.
The forum also featured 20 panel discussions with leading local and international speakers, addressing major global trends in entrepreneurship, including the future of artificial intelligence, the creative economy, digital transformation, and venture investment.
The forum saw the launch of the Saudi Empretec Fellowship, in the presence of Rebeca Grynspan, secretary-general of the UN Conference on Trade and Development.
The partners in success within the Social Responsibility Portfolio supporting entrepreneurs were honored.
It also saw the honoring of 13 winners of the Handicrafts Competition, representing various regions of the Kingdom, the announcement of winners of the Salam Award for Promising Projects, and the recognition of leading entrepreneurial projects fund under the Enterprises Track.
In addition, the NEXT UP Challenge concluded on the third day of the forum with 20 startups presenting their projects to more than 500 investors, enhancing opportunities for networking and partnership building.
As part of efforts to strengthen the support ecosystem, the forum witnessed the signing of 51 agreements, along with the launch of a suite of new financing products. These included the Capital Expansion Product with a ceiling of up to SR10 million, the Payroll Product with a ceiling of SR2 million, and the Rental Product with a ceiling of SR1.5 million, aimed at supporting enterprises in asset development and covering operational costs.
This reflects the bank’s direction toward offering more specialized financing tools that respond effectively to market needs.
The forum concluded by reaffirming its role as a unifying national platform for entrepreneurship, where accompanying activities and events provided direct engagement opportunities between entrepreneurs, investors, and experts.
The forum also highlighted success stories and practical experiences that reflect the scale of entrepreneurial momentum in the Kingdom and the growing role of the Social Development Bank in supporting a national economy driven by innovation and knowledge.
