Budget Saudi listed among Fortune 500 Arabia

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Updated 28 November 2023
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Budget Saudi listed among Fortune 500 Arabia

The largest car renting and leasing company in the Middle East, United International Transportation Co. known as Budget Saudi, has been listed among the top companies in the Arab world by the Fortune 500 Arabia magazine.

Fortune 500 Arabia launched its inaugural list in 2023, becoming part of the global Fortune 500 lists that have been published by the magazine in the US since 1955.

This year’s inaugural edition includes the top 500 Arab companies from 22 Arab countries. These companies have been ranked by their collective revenues, which hit about $1.6 trillion in 2022, yielding a net profit of $343 billion. Private companies not listed on financial markets made up nine percent of the list.

Saudi Arabia led the list with the highest number of companies, accounting for 153 out of the 500 companies, or 30 percent. The UAE followed with 17 percent, then Egypt, Kuwait, and Qatar. While Saudi Arabian companies recorded the highest percentage of revenue and profits among the Fortune 500 companies, the UAE had the largest proportion of the top 100 profitable companies on the list.

Fawaz Abdullah Danish, president and group CEO, Budget Saudi, said: “Listing Budget Saudi among the Fortune 500 Arabia companies in the Arab world is a great honor for the organization. It is a testament to the consistent performance of the company over the years and the firm foundations on which it is being built for growth and diversification. We are committed to creating value for all stakeholders, customers, and partners in this journey. It augurs well for our company in its drive and passion to perform beyond expectations and contribute effectively to the larger vision of Saudi Arabia.”

Budget Saudi is Saudi Arabia’s premier short and long-term vehicle rental and leasing company, serving both retail and corporate clients. The enterprise was incorporated in 1978 and over the years has developed a reputation for excellence and dependability in the transportation industry. It is the first publicly traded automobile rental firm in Saudi Arabia and has internal QMS, EVS, and OHAS accredited to ISO 9001, 14001, and 45001 standards. The company has also been recognized as a “Great Place to Work” in Saudi Arabia.

With 33,000+ vehicles and a network of nearly 100 retail stations spread over 30 cities, Budget Saudi claims to have the largest rental and leasing network in the Middle East and North Africa. The company has received several accolades for its operations and management efficiency. It was awarded by the Global Economic Magazine in 2023 as the Best Vehicle Leasing Company and the Most Customer-Centric Car Rental Service Provider in Saudi Arabia, and the Best CEO of Logistics in Saudi Arabia in 2021.

Other accolades include the Global Leadership Award by Leaders International Magazine, and the 2023 Stevie Silver Award for the Sales Director of the Year. It has received five consecutive World Travel Awards, as well as the INSEAD Top 50 CEO award for publicly traded companies in the GCC.

Budget Saudi looks forward to focusing more on environment-friendly initiatives in the upcoming years. The business has already started taking action to conserve energy by introducing hybrid vehicles to its fleet. The company is also discussing the introduction of electric vehicles into its fleet, to achieve lower CO2 emissions.

 


Baheej to open new wellness resort on Yanbu coastline

Updated 11 June 2025
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Baheej to open new wellness resort on Yanbu coastline

Baheej, Saudi Arabia’s emerging destination developer and a joint venture between ASFAR, the Saudi Tourism Investment Company and a Public Investment Fund company with the Tamimi-AWN Alliance, has announced the fourth component of its transformative Yanbu Waterfront Project: a 34-room boutique wellness resort that brings together ancestral wellness wisdom and contemporary design inspired by the region’s seafaring heritage.

Nestled on the tranquil shores of Yanbu, this intimate sanctuary will feature private sea-view cabanas, immersive wellness programming, and a signature spa designed as an architectural homage to the pearl, once a precious treasure of Yanbu and a symbol of renewal and serenity.

Norah Al-Tamimi, CEO of Baheej, said: “This project is a reflection of Baheej’s vision to enrich Saudi destinations with meaning, not just infrastructure. Our wellness resort is more than a place to stay — it’s an experience crafted around the values of balance, beauty, and belonging. We believe it will become a new symbol of Yanbu’s evolving identity as a serene coastal escape.”

Envisioned as a journey and offering guests opportunities to reconnect with self and place, Baheej is developing the resort with curated experiences that include meditation at sunrise, movement rituals inspired by coastal rhythms, and wellness treatments rooted in Arabic healing traditions and native ingredients.

“The design, developed by Spectrum Architecture, draws deeply from the soul of Yanbu,” said Stefano Lopez, senior director at Baheej. “It reinterprets the poetry of seafaring traditions and the calm resilience of the sea into a space of reflection, comfort, and transformation.”

Lopez also noted that the official brand of the resort will be revealed later this year, hinting at its distinctive Saudi character. “We want to create a brand that resonates with our domestic travelers — one that brings generations of Saudi heritage and wellness practices to the forefront of contemporary hospitality,” he said.

This launch marks a further step in Baheej’s mission to transform Yanbu into the gateway to the Red Sea Riviera — a new destination narrative that fuses nature, culture, and community. The wellness resort joins a growing collection of destination-defining assets developed by Baheej in Yanbu, including Cloud 7 Lifestyle hotel by Kerten Hospitality, Kaynuna Beach Escape and the upcoming Jaba Tour Center and Diving Club.


Aldar announces region’s first King’s College School Wimbledon

Updated 11 June 2025
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Aldar announces region’s first King’s College School Wimbledon

Aldar has announced an exclusive partnership between Aldar Education and the internationally renowned King’s College School Wimbledon to establish its first regional campus on Abu Dhabi’s Fahid Island.

Scheduled to open in September 2028 — following ADEK and regulatory approvals — the new K-12 super-premium school will significantly enhance Abu Dhabi’s already world-class educational offering, providing students with an established pathway to the highest ranked universities globally.

Strategically located within Fahid Island’s master-planned community, the new King’s College School Wimbledon Abu Dhabi campus will span an expansive 50,000 square meters, accommodating up to 2,220 students. Designed to seamlessly blend cutting-edge educational resources, extensive sports facilities, and a focus on student well-being, the campus complements Fahid Island’s broader vision to foster balanced lifestyles within a vibrant natural setting.

King’s College School Wimbledon is renowned for its rich heritage and exceptional academic standards.

Talal Al-Dhiyebi, group chief executive at Aldar, said: “We are proud to announce the first King’s College School Wimbledon to Abu Dhabi, a milestone that reflects Aldar’s fast-growing education portfolio and commitment to educational excellence. With King’s longstanding legacy of academic distinction and its proven track record of preparing students for the world’s top universities, this new school at the heart of Fahid Island will further strengthen Abu Dhabi’s position as a premier destination for world-class education and a global center for talent development.”

Sahar Cooper, chief executive at Aldar Education, added: “King’s College School Wimbledon is globally recognized for its ability to nurture well-rounded individuals equipped with the confidence, compassion and critical thinking skills to thrive. The school’s holistic approach to education, anchored in strong values, rich co-curricular programs, and personalized pastoral care, will add a new dimension to Aldar Education’s offering and further support Abu Dhabi’s vision to become a regional hub for excellence in education.”

The establishment of King’s College School on Fahid Island marks the initial phase of Aldar’s comprehensive educational strategy for the island, designed to address growing demand for premium educational offerings. Future phases will introduce additional educational institutions as part of its masterplan.


ABB launches mentorship program for female employees

Updated 11 June 2025
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ABB launches mentorship program for female employees

ABB Saudi Arabia has launched its “2025 Women’s Mentorship Program,” developed in partnership with the Saudi-Swedish Executive Women’s Network. This initiative reinforces ABB Saudi Arabia’s commitment to empowering Saudi female talents through cross-cultural collaboration within the Kingdom and beyond.

The program is a structured initiative designed to accelerate the professional career growth of ABB Saudi Arabia’s female employees by connecting them with experienced mentors from both Saudi Arabia and Sweden. Through monthly one-on-one virtual sessions, group mentoring, shadowing opportunities, and real-world business challenges, mentees will gain leadership insights, strategic guidance, and career development support.

Targeting both early-career professionals and high-potential Saudi female employees at ABB Saudi Arabia, the mentorship initiative will strengthen leadership pipelines and support Saudi Arabia’s Vision 2030 goals for increasing Saudi female participation in the workforce.

“This mentorship program reflects ABB Saudi Arabia’s belief in the power of collaboration and shared success,” said Ali Al-Koud, country HR manager, ABB Saudi Arabia. “By empowering our Saudi female talents and facilitating knowledge exchange with our Swedish partners, we are not only investing in individual careers — but also in the future of industry and innovation in the Kingdom.”

“We are proud to partner with ABB Saudi Arabia on this impactful initiative. It is a true model for global cooperation and women’s empowerment,” said Katie Hagström, director of the Saudi-Swedish Executive Women’s Network, and Mentorship Program Lead. 

“By linking talented Saudi women with experienced professionals from the Kingdom and Sweden, we are building bridges of opportunity, knowledge, and mutual growth.”

The program structure includes regular virtual mentorship sessions, cross-cultural networking, and a graduation ceremony recognizing outstanding achievements. Participating mentors will guide mentees through personalized development journeys, providing both strategic counsel and practical experience.

As a recognized technology leader in electrification and automation, ABB Saudi Arabia continues to reinforce its reputation as an employer of choice for women. This program stands as a tangible expression of ABB’s values — courage, care, curiosity, and collaboration — and a powerful step toward a more inclusive and diverse industrial future.

The Saudi-Swedish Executive Women’s Network is a professional network for women in Saudi Arabia and Sweden. The network exists to strengthen the commerce and communal ties between the two countries, with a focus on promoting women in entrepreneurship, board governance, and stakeholder engagement in their respective business communities and in the global market. It achieves its network mission by building direct relationships between individuals.


Blacklane, Lucid partner to boost sustainable mobility in Kingdom

Updated 10 June 2025
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Blacklane, Lucid partner to boost sustainable mobility in Kingdom

Blacklane, a global chauffeur service, and Lucid Group, maker of advanced electric vehicles, have announced a strategic partnership to expand sustainable, premium transportation solutions across Saudi Arabia.

Through this collaboration, Lucid’s vehicle lineup will be integrated into Blacklane’s chauffeur service platform across the Kingdom. The partnership will support Blacklane on its trajectory to double operations in the region by the end of 2025, including significantly expanding services in key cities like Riyadh and Jeddah.

The agreement represents Blacklane’s most ambitious initiative to date, aimed at expanding a robust network of electric vehicle options within the region’s mobility sector, and furthers Lucid’s ongoing efforts to provide more opportunities to experience its advanced electric vehicles in the region. To further support this effort, Lucid and Blacklane will also work together to support the rollout of EV charging infrastructure in the region.

“Our relationship with Lucid marks a significant step forward in our global mission to deliver high-end, sustainable and scalable mobility solutions and a key milestone to further electrifying the Kingdom,” said Dr. Jens Wohltorf, CEO and co-founder of Blacklane. “Together we are investing to set new industry standards and are proud to be part of a thriving and innovative business culture in the Kingdom of Saudi Arabia, fostered by Vision 2030.”

“Partnering with Blacklane reflects our strong commitment to pioneering the future of mobility in the Kingdom of Saudi Arabia,” said Faisal Sultan, president, Middle East at Lucid. “Through this partnership, Blacklane guests will now have access to the Lucid lineup, including the award-winning Lucid Air sedan and the new Lucid Gravity SUV, offering superior range, elevated comfort, and extensive room for guests and all their luggage.”

The Lucid Air sedan will be available to Blacklane guests immediately. The Lucid Gravity SUV will be added later this year as the rollout of the new SUV intensifies.


Partnerships, strategic deals drive next era of Saudi entertainment

Updated 10 June 2025
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Partnerships, strategic deals drive next era of Saudi entertainment

Momentum built over three days at the SEA Expo 2025, held from May 20-22 in Riyadh, as partnerships progressed, discussions deepened, and the region’s entertainment priorities commanded the program for the day.

Now in its seventh edition, the Saudi Entertainment and Amusement Expo has proven itself as a strategic anchor for the global entertainment business. With participation from 36 countries — including Saudi Arabia, the UK, the US, Germany, and the UAE — the SEA Expo continues to attract the industry’s decision-makers as they look to tap into Saudi Arabia’s fast-expanding leisure and attractions market.

SEA Expo provides direct access to trade intelligence, partnership opportunities, and practical insights. At the center of SEA Expo is the SEA Summit, which has the generous support of leading sponsors BAAN Holding, Al-Othaim, RWS Global, Storyland Studios, RC Almana, and TAIT. In this focused arena, this year’s sessions explored immersive technology, artificial intelligence, esports, and the design of sustainable, future-ready entertainment destinations.

Further to this, a key highlight of the summit was the compelling opening keynote panel, “Partnership in Practice: Building Saudi’s Next Entertainment Hubs,” where public and private sector leaders explored how new investments shape the physical and creative landscape of Saudi Arabia’s next-generation venues. The strength of SEA Expo 2025 is reflected in its industry backing, with sponsors invested in realizing the region’s entertainment ambitions.

The show days also saw the signing of several significant agreements that will strengthen the country’s entertainment infrastructure, including:

• Mack Rides, SPARKS, and Fawasel are finalizing an exclusive sales agreement that will enable the delivery of advanced amusement rides across the Kingdom.

• INFINIA and BLOCKS signed a memorandum of understanding to co-develop digital theming, smart experiences and immersive design for public and private environments.

These partnerships reflect the sector’s continued movement toward tailored, high-impact solutions and long-term project development, bringing both international expertise and local insight into alignment.

Sarkis Kahwajian, associate vice president at dmg events, said: “SEA Expo is an important working platform, and it continues to deliver on its purpose: bringing together the right people to move from vision to implementation. The outcomes we’re seeing here will define the next phase of growth.”

Co-located with the Saudi Light and Sound Expo, SEA Expo is supported by the Kingdom’s General Entertainment Authority and the Ministry of Investment of Saudi Arabia, indicative of its direct alignment with the Kingdom’s Vision 2030 objectives — building a globally competitive entertainment sector, expanding employment opportunities and diversifying the economy through leisure and tourism.