QNB Group, the largest financial institution in the Middle East and Africa, has inaugurated its branch in Riyadh. Senior bank officials and distinguished representatives from the banking and business sectors attended an inauguration ceremony held in the presence of Ahmed bin Abdul Karim Al-Khulaifi, governor of the Saudi Arabian Monetary Authority (SAMA), Sheikh Abdullah bin Saud Al-Thani, governor of Qatar Central Bank, Ali Ahmed Al-Kuwari, QNB Group CEO, and a number of Qatari diplomats.
Through its branch and its business hub extending along King Fahd road, QNB Group will provide a comprehensive suite of banking products and services to individuals, businesses and government departments. This complements its extensive expertise in wealth and investment portfolio management, project finance, smart banking solutions, and assorted innovative banking products and services that meet the requirements of the Saudi market.
QNB Group CEO Al-Kuwari hailed the inauguration of the new branch, pointing out the group’s access into the Saudi market is part of the group’s strategic plan to be present in all markets that have a strong and resilient economy. “Saudi Arabia is one of these economies, especially considering its ranking among the world’s 20 strongest economies,” he said.
“Through our presence in Riyadh, we strive to become a major partner in promoting Saudi Arabia’s economic development by providing banking solutions to individuals, businesses, and government departments in both Saudi Arabia and Qatar. This is in line with the group’s successful expansion of its global reach in Asia, Europe, and the Middle East and North Africa region.
QNB Group’s successful expansion is the result of well-researched risk management policy, as well as the forward-looking strategies that aim at diversifying our activities in Qatar and abroad,” Al-Kuwari added.
Al-Kuwari also praised the Saudi government for its support of the banking industry, as evidenced by the implementation of streamlined procedures for the establishment of foreign banks, and for facilitating the authorization process to open a branch for the bank in the Kingdom.
QNB Group has successfully maintained the highest brand value in the Middle East and North Africa, thus strengthening its position in the region.
QNB Group inaugurates its Riyadh branch
QNB Group inaugurates its Riyadh branch
ASMO partners with Arcapita to develop 1.4m sqm logistics facility at SPARK
ASMO, a joint venture between Aramco and DHL Supply Chain, has partnered with Arcapita Group Holdings Limited, a global alternative investment firm, to develop a 1.4 million-square-meter purpose-built logistics facility at King Salman Energy Park, designed to support the next phase of the Kingdom’s logistics and supply chain development. The project will be delivered through a forward funding transaction, reflecting a long-term investment in national infrastructure.
Through the partnership, Arcapita will fund and retain ownership of the facility, while ASMO will develop, lease, and operate the asset under a 22-year occupational lease. The facility will include a 43,000-square-meter temperature-controlled Grade-A logistics warehouse, over 3,000 square meters of offices and staff facilities, 5,300 square meters of dedicated chemical storage space, and a 1.2 million-square-meter open yard. The investment reflects a shared goal by the parties to develop resilient, scalable, and future-ready institutional grade logistics infrastructure in the Kingdom.
Designed for large-scale industrial operations, the facility will help boost advanced warehouse and building management systems, digital integration, automated storage and retrieval systems, robotics, adherence to globally recognized sustainability standards, including photovoltaic readiness, electrical vehicle charging, and a LEED Gold certification.
“This development reflects the strategic intent behind ASMO’s mandate and reaffirms its role in enabling resilient and future-ready supply chains,” said Salem Al-Huraish, chairman of ASMO. “By investing in long-term infrastructure and strategic partnerships, ASMO is supporting the Kingdom’s industrial ambitions and contributing to the development of integrated logistics capabilities that serve both national priorities and global markets.”
The facility represents ASMO’s first purpose-built logistics center and forms part of four planned strategic sites underpinning ASMO’s national logistics network, aligned with the National Transport and Logistics Strategy under Saudi Vision 2030. Once operational, it will serve Aramco, its affiliates, and other key industrial players across the Kingdom.
“ASMO’s new logistics hub at SPARK helps to strengthen Aramco’s supply chain resilience by delivering a centralized, high-efficiency facility in the heart of Saudi Arabia’s energy sector. As an anchor customer, we recognize the value of ASMO’s strategic investments in logistics infrastructure, demonstrating their ambition to deliver innovative, customer-focused solutions across the supply chain,” said Sulaiman Al-Rubaian, Aramco senior vice president of procurement and supply chain management.
Isa Al-Khalifa, director and head of MENA real estate at Arcapita, said: “This transaction builds on Arcapita’s established track record in developing and investing in Grade-A logistics and industrial assets. Combining our local expertise in Saudi Arabia with our experience in complex, forward-funded developments, we are pleased to partner with ASMO to support the development of a purpose-built facility that supports the Kingdom’s energy and industrial sectors, while securing a high-quality asset.”
Mishal Al-Zughaibi, president and CEO of SPARK, said: “We are pleased to welcome ASMO to SPARK as part of a strategic partnership that further strengthens SPARK’s position as a premier logistics hub aligned with the Kingdom’s Vision 2030. This significant investment reflects the strong collaboration and ambition of all parties involved. SPARK’s advanced infrastructure and comprehensive services were a key factor in ASMO’s decision to establish its state-of-the-art logistics center within our park.”
Located within Saudi Arabia’s energy ecosystem, SPARK is strategically positioned between Dammam Seaport, Aramco’s Abqaiq facilities, and Al-Ahsa, enabling direct connectivity across the Kingdom’s energy and industrial network. The site supports integrated operations through modern infrastructure and digital readiness and has attracted more than 70 investors from 16 countries, with Phase 1 infrastructure representing a total investment of $1.6 billion.
