Tadawul celebrates SABB-Alawwal merger

The event was attended by Saudi Arabian Monetary Authority Governor Dr. Ahmed Al-Kholifey, SABB Chairperson Lubna Olayan and Tadawul Chief Markets Officer Mohammed Al-Rumaih.
Updated 24 June 2019
Follow

Tadawul celebrates SABB-Alawwal merger

Tadawul, the Saudi stock exchange, and the Saudi Arabian British Bank (SABB) recently celebrated the success of the merger between SABB and Alawwal. The event was attended by Saudi Arabian Monetary Authority Governor Dr. Ahmed Al-Kholifey, SABB Chairperson Lubna Olayan and Tadawul Chief Markets Officer Mohammed Al-Rumaih.

In cooperation with the Capital Markets Authority, Tadawul is working on further facilitating the procedures of merger and acquisitions, in alignment with the Financial Sector Development Program (FSDP) of the Kingdom’s Vision 2030. The aim is to enhance the effectiveness of the Saudi capital market, create a diversified and thriving financial sector, and to foster an attractive investment environment for both local and foreign investors.

The merger of SABB and Alawwal led to the creation of the third largest bank in terms of assets in Saudi Arabia. After the completion of the merger, SABB will benefit from the significant increase in its size, capacity and international connectivity. 

Earlier, SABB announced that the listing of the consideration shares (as defined in the shareholder circular) and the deposit of the same in the accounts of the eligible Alawwal bank shareholders have been completed.


Kingdom Centre’s comprehensive upgrade nears completion

Updated 05 January 2026
Follow

Kingdom Centre’s comprehensive upgrade nears completion

Chairwoman of the Board of Kingdom Centre Nada Alateegi announced that the final phase of the comprehensive upgrade and redevelopment works at the iconic Riyadh landmark has neared completion.

Kingdom Centre was never intended to be just a shopping destination or a business hub, Alateegi said, but rather a space to deliver exceptional experiences. The experience is now being elevated to a new level of luxury that seamlessly brings together refined hospitality, high-end retail, and world-class business environments. 

She said that Kingdom Centre, inaugurated in 2001, commenced its modernization project in April 2023. The project is being implemented in partnership with a group of top-tier global designers and renowned contractors, and led by the Kingdom Centre management team, to ensure the highest standards of quality and precision.

The upgrades were carried out in accordance with the best safety practices, while maintaining uninterrupted operations and ensuring visitors’ comfort and safety are preserved throughout, Alateegi said. This approach reflects the vision and directives of Prince Alwaleed bin Talal and has contributed to the center receiving several awards, including its recognition for “visionary design and development.”

She added that Kingdom Centre had installed the largest fully integrated digital screen on Kingdom Tower facades, operated exclusively in partnership with digital advertising and media solutions leader Rotana Signs. The screen serves as an international showcase reflecting Riyadh’s evolution and its growing global standing.

Kingdom Centre is also home to the Four Seasons Hotel, one of the world’s most prestigious hospitality brands, in addition to VOX Cinemas, purpose-designed to world-class specifications guided by the center’s management vision. 

Moreover, Kingdom Centre introduced Al-Mamlaka Social Dining zone, which has become one of the region’s leading dining experiences and a model for other investors. Conceived by the center’s management to elevate the visitor experience, the Social Dining concept has been officially registered as the intellectual property of Kingdom Centre.

Kingdom Centre has also launched a mobile application and a dedicated visitor loyalty program offering a range of benefits. This initiative is part of the center’s digital transformation strategy and aims to strengthen long-term engagement with visitors.

Kingdom Centre’s management remains committed to setting a leading example for the sector, delivering innovative experiences that support Saudi Arabia’s tourism ambitions and align with Saudi Vision 2030, Alateegi added.