Ericsson and stc on track to achieve a more sustainable network in Saudi Arabia

As part of the Ericsson Product Take-Back Program, stc is recycling its waste from end-of-life electronic and electrical equipment. (Supplied)
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Updated 28 March 2024
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Ericsson and stc on track to achieve a more sustainable network in Saudi Arabia

  • By collecting, decommissioning, and recycling, Ericsson and stc have recycled an estimated 438 metric tons of waste electrical and electronic equipment to date

Ericsson and stc are jointly working to develop a more sustainable network in the Kingdom, resulting in tangible progress across various areas, in line with the Saudi Green Initiative.

As part of their joint achievements, Ericsson and stc have modernized stc’s sites while working toward finalizing the sunset of 3G technology on the network. The companies are also continuously collaborating on the Ericsson Product Take-Back Program and are conducting knowledge sharing sessions by Ericsson experts.
Part of the network modernization is the deployment of Ericsson Radio System products such as three-sector dual-band Radio 6626 and Micro Sleep Tx solution that have helped stc cut OPEX and energy usage by up to 25 percent. Furthermore, Ericsson and stc have embarked on the sunset of stc’s 3G technology to enable refarming of stc’s 10 MHz frequency to 4G and improve spectrum efficiency, enhancing data throughput and boosting user experience.
As part of the Ericsson Product Take-Back Program, stc is recycling its waste from end-of-life electronic and electrical equipment. By collecting, decommissioning, and recycling, Ericsson and stc have recycled an estimated 438 metric tons of waste electrical and electronic equipment to date.
The collaboration supports Saudi Vision 2030’s goal toward a net-zero future by 2060 as well as stc’s commitment to “creating long-term value for the community, the people, and the planet.” Moreover, a sustainable network will boost customer experiences, accelerate innovation, and inspire use cases for monetization opportunities.
Maha Alnuhait, general manager of sustainability program at stc, said: “At stc, we are dedicated to elevating sustainability throughout our operations while encouraging innovation and enhancing customer experiences. We continue to work toward realizing the Saudi Vision 2030 priorities, including the ambitious Saudi Green Initiative targets aimed at reducing emissions by 278 million tons per annum by 2030. By aligning with the Kingdom’s net-zero commitments by 2060 and embracing our own long-term goal of achieving net-zero by 2050, we not only seek to drive forward sustainability, but also aim to play a pivotal role in shaping a greener, more resilient future for generations to come. Our collaboration with Ericsson underscores our commitment to sustainability, technological advancement, and delivering unparalleled services to our customers.”
Fida Kibbi, vice president and head of marketing, communications and sustainability and corporate responsibility at Ericsson Middle East and Africa, said: “At Ericsson, we have always believed that network enhancement must coexist with a reduction in overall energy consumption. Our collaboration with stc exemplifies our drive for innovation in the industry, empowering them to harness the full potential of sustainable networks. Through this collaboration, we are not only contributing to the Saudi Green Initiative goals but also ensuring a more efficient network. We aspire to inspire our partners to explore innovative use cases for network monetization, fostering the development of green and sustainable networks.”
 

 


Leva Hotels debuts in Riyadh with five-star property

Updated 07 May 2024
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Leva Hotels debuts in Riyadh with five-star property

UAE-headquartered hospitality brand Leva Hotels, in collaboration with their local partners Siraj Holdings, is celebrating a significant milestone with the signing of its newest property, a luxe five-star hotel boasting 134 keys, nestled in the bustling heart of Riyadh’s Al-Olaya District.
In an exclusive partnership with Princess Dr. Nouf Mohammed Fahad Al-Saud — president of Dhaliliyah Group, Leva Hotels is embarking on a journey to set a benchmark for excellence in Riyadh’s vibrant hospitality landscape. This move signifies Leva Hotels’ evolution from a provider of four-star experiences to a brand offering luxury hospitality.
Saudi Arabia’s tourism sector is undergoing a transformative phase driven by Vision 2030 — the national economic diversification plan. With 150 million tourists expected by 2030 as stated by global real estate consultancy Knight Frank, the new hotel is strategically positioned to contribute to the Kingdom’s tourism growth trajectory, with a projected 320,000 rooms envisioned as part of Saudi Arabia’s ambitious tourism infrastructure development plans.
Leva Hotel Riyadh will present guests with breathtaking city vistas and a wealth of amenities, including an indoor pool, a meticulously appointed gym, two culinary destinations, and versatile event spaces comprising five meeting rooms and two grand ballrooms.
Conveniently positioned within close proximity to iconic landmarks such as the Al-Faisaliah Tower and the revered King Khalid Grand Mosque, the property ensures effortless accessibility to key destinations. With King Khalid International Airport a mere 31 km away, guests can anticipate seamless travel experiences, whether for business or leisure pursuits.
“We are delighted to unveil the debut of our premier five-star property in Riyadh, marking a significant milestone in our journey,” said J.S. Anand, founder and CEO of Leva Hotels. “Our partnership with Princess Nouf marks the culmination of meticulous planning and unwavering dedication to excellence in hospitality. Leva Hotel Riyadh stands as a testament to our unwavering commitment to elevating guest experiences and setting new industry standards.”
For business travelers seeking luxury and convenience, the hotel located in Al-Olaya, Riyadh’s main commercial area, is an ideal choice. Its proximity to key business centers and government offices makes it perfect for professionals visiting Riyadh. Additionally, culinary enthusiasts can indulge in a variety of international flavors and healthy dishes right at the hotel.
In a statement, Princess Nouf said: “The launch of Leva Hotel Riyadh signifies a new era of luxury hospitality in Saudi Arabia. I am confident that together, we will set new standards of excellence in the hospitality industry.”
The opening of Leva Hotel Riyadh marks a significant step forward for the brand, strengthening its footprint in Saudi Arabia alongside its two four-star hotels in Jeddah. Since its establishment in 2019, Leva has flourished to encompass 10 hotels and more than 550 keys throughout the MENA region. This expansion aligns with Leva Hotels’ strategic vision to redefine hospitality experiences and create lasting memories for guests across the globe.


Aldar launches Dubai’s first fitness-focused community ‘Athlon’

Updated 07 May 2024
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Aldar launches Dubai’s first fitness-focused community ‘Athlon’

Leading real estate developer Aldar Properties has unveiled Athlon, a first-of-its-kind “active living” concept in Dubai.
Meticulously designed with principles of active living throughout, Athlon is Dubai’s first and only concept designed for the everyday movement of its residents. Featuring world-class amenities, as well as a program of activities exclusively curated by wellness experts, the development redefines fitness-focused living, with the goal of ensuring long-term well-being and a profound sense of community for all residents.
Developed in partnership with Dubai Holding, a diversified global investment company with investments in 31 countries, Athlon represents the joint venture’s second residential project in Dubai, building upon the resounding success of Haven by Aldar, launched in late 2023.
Jonathan Emery, CEO of Aldar Development, said: “The unveiling of Athlon marks a definitive moment in our ambitious Dubai expansion strategy, building upon the tremendous success of Haven by Aldar. As we witness an unwavering demand for unparalleled residential developments in Dubai, from both local and international investors, we are confident that Athlon’s groundbreaking concept will captivate a diverse range of investors and homeowners, setting a new standard for active living in the region.”
Located beside Global Village, the luxurious development is defined by a seamless connection of interactive green spaces — where athletic spaces merge with green walkways and vibrant parks — and features tailored activities to suit every age and interest.
Expertly planned around a captivating central park that forms the community’s beating heart, Athlon — inspired by the Greek word for “place of contest” — features four additional parks — Adventure, Play, Wellness, and Valley — as well as a total of seven clubhouses, weaving dedicated zones for fitness and socializing throughout the community. The community features more than 10 km of tracks, trails, and loops — with the cycling loop connected directly to Al-Qudra’s iconic track — offering boundless opportunities to indulge in jogging, cycling, roller-skating, and functional training within the community.
From activities that push limits, to those focused on well-being, sports, play, and gathering, the entire emotional and psychological spectrum of wellness has been carefully considered throughout Athlon, for the benefit of its residents, visitors, and workers. State-of-the-art amenities here include a café, massage rooms, jacuzzi, sauna, yoga room, gym, and a kids’ playroom.
Surrounding the parks, the residences, featuring 1,492 units ranging from three- to four-bedroom townhouses, three- to five-bedroom standard villas, and four- to six-bedroom premium villas have been designed to maximize natural light and use colors and materials that enhance the sense of space and well-being.
In line with Aldar’s commitment to sustainability and achieving its net-zero targets, Athlon will be developed with an emphasis on efficient and low-carbon design principles. This approach will be supported by the use of locally sourced and low-carbon materials, as well as the adoption of responsible and green construction practices.
The development has achieved LEED Platinum pre-certification, incorporating features such as energy-efficient and water-saving fixtures, electric vehicle charging facilities, smart waste disposal systems, and access to public transportation.


Basic Electronics Co. breaks ground on Al-Asasyah Advanced Industry HVAC Smart Factory in Dammam

Updated 06 May 2024
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Basic Electronics Co. breaks ground on Al-Asasyah Advanced Industry HVAC Smart Factory in Dammam

In light of the industrial renaissance witnessed by Saudi Arabia under Vision 2030, and Saudi Green Initiative, which aims to reduce carbon emissions by 2030 and pave the way toward zero neutrality by 2060, Basic Electronics Co., Ltd. laid the foundation stone for the Al-Asasyah Advanced Industry HVAC Smart Factory in Dammam. The facility, covering an area of more than 70,000 square meters in the first stage, specializes in the manufacture of sustainable air conditioners, directly contributing to reducing carbon emissions. More than 2,000 employees will work at this factory.

The groundbreaking ceremony took place in the presence of Dong Meng Zhu, chairman and CEO of Gree Electric Appliances Inc., on April 23. 

Since its establishment in 1961, the company has been engaged in the manufacture and sales of household appliances, commercial electronic appliances, air conditioners, monitoring and control devices, medical devices and others.

In a bid to support the localization of industry by the company’s management, the basic factory for smart meters was established and operated in the Kingdom’s Eastern Province, with a production capacity of more than 300,000 meters per year. The company is celebrating the laying of the foundation stone of the industrial complex for the manufacture of air conditioners in cooperation with its strategic partner Gree. The company is on a journey to target new sectors to localize industry in the Kingdom, through the use of the best international technologies.

The first phase of the industrial complex will produce high-efficiency smart air conditioners with VRF technology, integrated with photovoltaic energy production technology. The first phase also includes smart and innovative laboratories for testing devices, as well as a research and development center and a training center.

The second phase of the industrial park includes the production of all technologies of air conditioning solutions using the latest industrial technologies such as artificial intelligence and digitization systems produced by strategic partner Gree, which holds many patents.

Investing in the development of Saudi talent, capacity building, technology transfer and localization is one of the most important objectives of the company’s vision.


Jameel Motorsport, SAMF drive Saudi racing talent forward

Updated 06 May 2024
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Jameel Motorsport, SAMF drive Saudi racing talent forward

As part of its commitment to nurturing sporting talent in the Kingdom, Jameel Motorsport collaborated with the Saudi Automobile and Motorcycle Federation to launch the GR Saudi Driving School Future Co-Driver Program. This initiative will discover the next generation of professional co-drivers who will partake in cross-country rallies, bolstering Saudi Arabia’s presence on the regional and international motorsports stages.

The Future Co-Driver Program took place recently in Jeddah, bringing together the chosen participants with international industry experts. Led by renowned motorsports racer Captain Abdullah Bakhashab, the program provided aspiring co-drivers with a unique opportunity to undergo rigorous training to hone their skills and prepare them for the challenges ahead.

From a pool of around 600 applicants, the top 32 individuals were handpicked from four regions: the western region, Eastern Province, northern region, and central region. This selection process ensured that only the most deserving candidates progressed to the next stage.

Prince Khalid bin Sultan Al-Abdullah Al-Faisal, chairman of the SAMF, said: “The launch of the GR Saudi Driving School Future Co-Driver Program marks a significant milestone in our efforts to empower the youth of the Kingdom. This initiative underscores our dedication to fostering a new generation of skilled professionals, equipped to navigate the challenges of the racing world with precision and proficiency. Through strategic collaboration and innovative training, we are laying the foundation for a future where Saudi talent shines on the global stage, driving our nation toward a thrilling era of success in motorsports.”

The program’s curriculum encompassed a comprehensive range of essential skills tailored to prepare participants for the dynamic role of a co-driver in motorsports. Candidates delved into the intricacies of their role, understanding the crucial responsibilities of navigating alongside the driver. They learned to read roadbooks with precision, utilize devices such as ERTF and Stella and gain valuable knowledge to navigate rulebooks effectively. Participants also learned about time management, including handling timecards and administrative tasks, as well as effective communication and collaboration techniques with drivers, fostering a cohesive team dynamic essential for success on the track.

Hassan Jameel, chairman of the board of managers of Abdul Latif Jameel Motors, said: “The GR Saudi Driving School Future Co-Driver Program marks a pivotal moment in our ongoing commitment to nurturing talent and promoting excellence and leadership in motorsports. Our collaboration with the Saudi Automobile and Motorcycle Federation focuses on cultivating promising young talents in the Kingdom, in line with Vision 2030’s Quality of Life program. By empowering aspiring co-drivers with world-class training and mentorship, this initiative not only elevates the standards of motorsports in Saudi Arabia but also paves the way for an even brighter future in the sport, fostering a culture of innovation and success.”

Upon completion of the program, all participants were awarded certificates, recognizing their dedication and accomplishment in mastering the complexities of co-driving.

With the launch of the Future Co-Driver Program, Jameel Motorsport and the SAMF are poised to inspire a new generation of motorsports enthusiasts, driving innovation and excellence across the Kingdom and beyond.


Saudi Awwal Bank reports 16 percent growth in Q1 net profit at SR2 bn

Lubna S. Olayan, chair of the board of directors of Saudi Awwal Bank
Updated 06 May 2024
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Saudi Awwal Bank reports 16 percent growth in Q1 net profit at SR2 bn

Lubna S. Olayan, chair of the board of directors of Saudi Awwal Bank, announced the bank’s financial results for the period ending March 31.

SAB recorded a net profit after zakat and income tax of SR2.04 billion ($543.9 million) for the period ending March 31, representing an increase of 16 percent compared to the same period of 2023. The total operating income rose 7 percent to SR3.44 billion.

Commenting on the financial results, Olayan said: “I am delighted to share with you the highlights of our achievements in the first quarter of 2024. It has been an exceptional period for SAB, marked by achieving significant milestones and continued success.

“Our loan growth has been remarkable, outpacing the market with a solid 6 percent year-to-date increase. This growth has been primarily driven by institutional and large corporate businesses, showcasing the strength of our offerings in these segments. Notably, our mortgage growth has also been a key component of growth, with a commendable 16 percent origination market share.”

She said SAB’s trade-related business has experienced a similar upward trajectory, rising by 6 percent, with multinational activity continuing to expand, underscoring the bank’s global reach and influence.

Olayan added: “In addition, I am pleased to announce that we have achieved record revenue of SR3.4 billion, representing an impressive 8 percent quarter-on-quarter growth. This exceptional performance has contributed to a return on tangible equity of 16.5 percent, reflecting a 16 percent year-on-year increase in net income.

“Our commitment to excellence underlies these results and has garnered industry recognition, as we were honored with the esteemed ‘Best Trade Finance Provider in Saudi Arabia’ award by Global Finance and the prestigious ‘Best Domestic Private Bank in Saudi Arabia’ award by Euromoney Private Banking Awards. These accolades highlight the strength and diversity of our services and our unwavering dedication to meeting our customers’ needs with efficiency and innovation.”

She said that amidst a challenging global environment, SAB has also experienced success in furthering its sustainability agenda.

“As we look toward the next three years from a business perspective, we have strengthened our ESG governance, sustainable finance practice, and focus on climate change. Our commitment to sustainability has been recognized by Global Finance designating SAB the ‘Best Bank for Sustainable Finance in Saudi Arabia.’“

Olayan said that the bank’s strategy positions it as a future-ready institution, a leader in the digital and ESG realms, and a clear leader outpacing the lending market. 

“We also aim to be a formidable player in corporate banking and treasury, while continuing to enhance our reputation as the bank of choice for an even broader range of customers.

“Lastly, our partnership with HSBC remains instrumental to our success and journey, further solidifying our position as one of the leaders in the banking industry in the Kingdom of Saudi Arabia,” she added.

Olayan thanked the bank’s board members, senior management committees, and the entire SAB staff. “I extend my sincerest gratitude to them for their contributions. I would also like to express our appreciation to HSBC for their unwavering support and to the Saudi leadership and our regulators, the Saudi Central Bank and the Capital Market Authority, for their continued guidance and assistance,” she added.