Cruise Saudi to double team as it seeks to attract more operators

PIF launched Cruise Saudi in January to develop a cruise industry in the Kingdom and help create more than 50,000 jobs in the tourism industry through 2035. (File/Shutterstock)
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Updated 25 May 2021
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Cruise Saudi to double team as it seeks to attract more operators

  • It comes as Saudi Arabia looks to develop a thriving cruise sector to showcase its top tourist attractions for the first time

DUBAI: Cruise Saudi is set to double its team in the coming months as it prepares to attract more operators to the Kingdom.
It comes as Saudi Arabia looks to develop a thriving cruise sector to showcase its top tourist attractions for the first time.
It also follows the recent announcement that MSC Cruises will become the first operator to home port in Jeddah this year.
Mark Robinson, chief commercial and operations officer at Cruise Saudi told an online panel at the Arabian Travel Market in Dubai that the company could soon make further cruise operator announcements as it hired more staff at its Jeddah base.
“MSC was the first one but stand by, there will be other ships down in the Red Sea this winter,” he said. “We will be a one stop shop for the cruise lines liaising with the government in terms of cruise visas, port services and shore excursion providers.”
Robinson, who is this week in Miami meeting with cruise industry companies, said the company’s 40-strong team would grow to 95 by the end of the third-quarter of 2021.
PIF launched Cruise Saudi in January to develop a cruise industry in the Kingdom and help create more than 50,000 jobs in the tourism industry through 2035. It will develop ports and terminals in several Saudi cities to give access to Saudi heritage and culture, including a number of UNESCO World Heritage sites that are near the coast.
As well as the new Red Sea cruises from Jeddah with MSC Magnifica, the company’s newest ship MSC Virtuosa will visit Dammam during her first season in the Gulf from her homeport in Dubai. MSC Opera will also be based in Dubai for winter 2021/22 for cruises to Oman.
Robinson said that the arrival of cruise ships in Saudi Arabia for the first time would also bring dividends to the entire region as more tourists visited the Gulf.

 


Closing Bell: Saudi equity markets end year in green at 10,491 

Updated 31 December 2025
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Closing Bell: Saudi equity markets end year in green at 10,491 

RIYADH: Saudi equities ended Wednesday’s session higher, with the Tadawul All Share Index rising 109.18 points, or 1.05 percent, to close at 10,490.69, supported by broad-based buying across the main market.  

Gains were mirrored in the blue-chip MT30 index, which added 9.31 points, or 0.68 percent, to finish at 1,387.31. The Nomu Parallel Market also advanced, climbing 255.5 points, or 1.11 percent, to close at 23,296.29.   

Market breadth was firmly positive, with 249 gainers versus just 12 losers on the main market, with SR3.2 billion ($854.2 million) in trade value.  

Among the top gainers, United Cooperative Assurance Co. surged 9.73 percent to close at SR3.72, while Saudi Industrial Export Co. rose 9.18 percent to SR2.26.  

Al Gassim Investment Holding Co. advanced 8.25 percent to SR16.40, and Abdullah Saad Mohammed Abo Moati for Bookstores Co. gained 7.73 percent to end at SR46.  

Gulf General Cooperative Insurance Co. also posted strong gains, closing up 7.67 percent at SR3.93.  

On the downside, Naseej International Trading Co. led the declines, falling 5.87 percent to SR35.30.   

SEDCO Capital REIT Fund edged down 1.03 percent to SR6.70, while Saudi Tadawul Group Holding Co. slipped 0.78 percent to SR140.30.   

Banque Saudi Fransi declined 0.77 percent to SR16.82, and Saudi Co. for Hardware closed 0.76 percent lower at SR25.96.  

On the corporate front, Catrion Catering Holding Co. said it signed a sale and purchase agreement to acquire a 55 percent stake in Al Khaleejah Catering Co., with an option to buy an additional 15 percent within three years.  

The transaction values the acquisition at up to SR 40.86 million, comprising an initial cash payment of SR315.21 million and performance-based earn-out payments of up to SR125.65 million, subject to the achievement of specified financial targets.   

The acquisition will be financed through internal funding sources and Shariah-compliant banking facilities and is expected to support Catrion’s expansion strategy in the aviation and catering services sector, with a positive financial impact anticipated by the end of the second quarter of 2026.  

Catrion Catering Holding Co. closed Wednesday’s session at SR80.35, up SR3.35, representing a 4.35 percent gain  

Purity for Information Technology Co. announced the signing of a contract with the Social Development Bank to provide managed cloud system services.   

The contract is valued at SR6.92 million, including VAT, and will run for a duration of 36 months.   

Under the agreement, Purity will deliver managed cloud services aimed at enhancing system reliability, service availability, and overall operational continuity.   

The financial impact of the contract is expected to be reflected in the company’s financial results for the 2025–2026 fiscal year.  

Purity for Information Technology Co. ended the session at SR20.99, rising SR0.54, or 2.64 percent.