RIYADH: The decision to allow Saudi women to drive starting June this year has brought bright prospects to the local car industry as the biennial three-day Automechanika car show takes center stage on Monday.
Saudi Arabia is the largest auto and auto parts market in the Middle East, accounting for an estimated 40 percent of all vehicles sold in the region, statistics show. The Kingdom imported about 1 million vehicles in 2016.
Ahmed Pauwels, CEO of Messe Middle East, which is a co-organizer of the show, said the influx of Saudi women drivers will have a significant impact on auto parts, maintenance and services industry in the Kingdom.
“Car manufacturers will be the first to benefit in allowing women to drive, along with banks and insurance companies that finance and underwrite new car purchases,” Pauwels said.
At present, the Kingdom already has seven million passenger vehicles in operation and this will increase significantly in the coming years, with some nine million new drivers expected to be added to the roads.
He advised car manufacturers and suppliers in the Kingdom to stake their claim early in the market, which is full of opportunities.
He added that after the car manufacturers benefit, “the aftermarket comes next when these millions of additional cars will require regular repair maintenance, replacement parts, tires, batteries, accessories, car care and grooming.
“Revenues for the Kingdom’s aftermarket was worth more than $6.7 billion in 2016, so it’s already a significant market, and the largest in the Middle East,” he said.
The exhibition, with 200 companies from 25 countries as participants, is being held from Feb. 5 to 7 at the Riyadh International Exhibition Center with Mansour Abdullah Al-Shathri, Riyadh Chamber’s board vice chairman, as the guest of honor.
Car show opens, boosted by advent of Saudi women drivers
Car show opens, boosted by advent of Saudi women drivers
Saudi Arabia’s Qiddiya ‘shaping the future,’ says executive ahead of Six Flags opening
- Minister of Media Salman Al-Dosari underscored the Kingdom’s recent monumental achievements in alignment with Six Flags Qiddiya City’s symbolic upcoming opening, stating: “We, in Saudi Arabia do not start where others end, we start where others dream”
RIYADH: Qiddiya is “shaping the future of entire sectors,” the entertainment megaproject’s managing director said at a press conference on Monday ahead of the official opening of Six Flags on Dec. 31.
Abdullah Al-Dawood took to the podium to share his pride in Qiddiya City’s speedy progress.
“Today, Six Flags Qiddiya City is complete, and Aquaarabia is over 95 percent complete,” he said.
With doors set to open in nine days, Al-Dawood made sure to remind the audience that this milestone is only the beginning of a grander vision for Qiddiya City and the Kingdom as a whole.
“What we are doing today goes beyond simply developing a project, it is about building a city and shaping the future of entire sectors. God willing, the Kingdom will be among the leading countries in the fields of entertainment, sports, culture and tourism” he said.
Minister of Media Salman Al-Dosari underscored the Kingdom’s recent monumental achievements in alignment with Six Flags Qiddiya City’s symbolic upcoming opening, stating: “We, in Saudi Arabia do not start where others end, we start where others dream.”
En route to the park, Qiddiya executives welcomed members of the press to their grand project as mountains made way to rollercoaster views.
Qiddiya’s progress in becoming a hub for entertainment and sports is visible in the daylight as cranes and construction crew gathered to finalize building some of the most anticipated projects such as Aquaarabia, a waterpark, and golf courses in the heart of the desert.
The park is the first Six Flags outside of North America and forms part of Qiddiya Investment Co.’s flagship development.
