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.
Leva Hotels debuts in Riyadh with five-star property
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Leva Hotels debuts in Riyadh with five-star property
Zain KSA to expand 5G on back of SR1.6bn Al-Rajhi deal
Zain KSA, a provider of communications and digital services in Saudi Arabia, announced the signing of a supplier financing agreement worth SR1.625 billion ($433.3 million) with Al-Rajhi Bank to invest in expanding its 5G network and strengthening its infrastructure to support the business sector. This competitively rated financing solution will enable Zain KSA to expand its investments in its 5G network nationwide and enrich its portfolio with innovative digital solutions and applications targeting its individual and business users, ensuring they enjoy a top-notch digital experience.
Sultan bin Abdulaziz Al-Deghaither, Zain KSA’s CEO, said: “At Zain KSA, we adopt an integrated strategy, balancing between achieving our core goals of empowering our individual and business customers and providing them with cutting-edge technologies and digital solutions, along with maximizing value for our shareholders and investors. Simultaneously, our strategy supports our astute leadership’s ambitious Saudi Vision 2030 and its goal of achieving a nationwide sustainable digital transformation, marking the beginning of a new era of digital innovation across the Kingdom.
“Today, this competitively rated supplier financing agreement between Zain KSA and the nationally renowned Al-Rajhi Bank underscores our joint efforts to foster an enriched and inclusive digital experience across the Kingdom, mirroring Zain KSA’s strategy to provide exceptional customer experience and innovative services, including distinguished spiritual tourism services for pilgrims.”
Meanwhile, Waleed Al-Mogbel, CEO and managing director of Al-Rajhi Bank, said: “Our partnership with Zain KSA, the longstanding Saudi telecom leader, will open up new horizons for the development of the Kingdom’s telecommunications and digital services sector. At Al-Rajhi Bank, we are glad to be a key partner supporting Zain KSA’s ambitious goals and strategic plans for nationwide digital empowerment.”
Through targeted investments, Zain KSA aims to cement its role as a national champion, powering up the Kingdom’s digital capabilities and infrastructure. This translates to broader access to cutting-edge technology and digital services for everyone — individuals, businesses, and institutions — paving the way for a vibrant society and a thriving, knowledge-based economy.
MBSC reports 220% surge in 2024 graduate numbers
In an unprecedented milestone, Prince Mohammed Bin Salman College of Business and Entrepreneurship, the Kingdom’s world-class business school, has announced an increase of more than 220 percent in its graduates this year, marking the largest graduating class to date with a total of 327 graduates in 2024 compared to 101 in 2023. This year also marks the graduation of the first Master of Finance cohort.
The graduating class represents a diverse group of high-calibre professionals from key sectors including government, technology, healthcare, and beyond, many of whom hold C-suite level positions. This diversity underscores the college’s appeal to those aiming to boost their strategic thinking and leadership abilities.
MBSC’s existing graduate programs (Executive MBA, Master in Management, and Master in Finance) showcase a commitment to meeting the demands of the business and finance sectors of the world today.
Dr. Zeger Degraeve, dean of MBSC, said: “The remarkable increase in our graduates this year is a clear indicator of MBSC’s growing impact and effectiveness in the realm of business education. Our hands-on pragmatic approach not only equips our students with essential skills but also instills an entrepreneurial mindset necessary for today’s and tomorrow’s leaders. We aim to provide our students with the tools to emerge as leaders and catalysts for change, ensuring they become pioneers for Vision 2030.”
It is noteworthy that MBSC has been conditionally accredited by the National Center for Academic Accreditation and Evaluation, at Education and Training Evaluation Commission, from May 2024 to April 2026.
The higher education institution is situated in King Abdullah Economic City, a contemporary urban center that provides an unparalleled modern environment for both students and faculty. MBSC offers world-class education “from Saudi Arabia for Saudi Arabia” in both King Abdullah Economic City and Riyadh, delivering practical, pragmatic, hands-on experiential learning to develop a new generation of transformative leaders.
SAB named ‘best bank’ in Saudi Arabia by Global Finance
Saudi Awwal Bank has been awarded the “Best Bank Award 2024 in Saudi Arabia” by Global Finance for the fifth time in a row. The award is a recognition of SAB’s innovative banking services and its efforts in serving its customers and enhancing their banking experiences.
The recognition came following a referendum in which a select panel of financial experts participated, considering a range of criteria that included asset growth, profitability, quality of customer service, strategic relationships, product innovation, and other relevant factors.
Tony Cripps, managing director and CEO at SAB, said: “Being honored with this prestigious award serves as a testament to our bank’s strategic vision and excellence across various departments and reinforces our commitment to supporting the Kingdom’s Vision 2030 in the Financial Sector Development Program. It highlights our position as a leading financial institution in contributing to economic development.”
He added: “Through our deep understanding of market needs, we develop products and services to exceed our customers’ expectations, enabling us to provide distinctive and innovative banking solutions, contributing to achieving their desires and helping them reach their ambitious goals.”
This year, SAB continues to strengthen its leading position in the banking sector through several achievements, including the “Accreditation in Innovation” award from the Global Innovation Institute, which makes it the first bank in the Kingdom to receive such recognition. SAB was also honored with the “Best Bank for Private Banking in the Kingdom” award by Euromoney magazine. These awards serve as a testament to the bank’s exceptional services, highlighting its strength and diversity in catering to the needs of its customers with efficiency and innovative solutions.
RUUD, Modern Electronics tap into growing HVAC market
A strategic collaboration between RUUD — a brand in the heating, ventilation, and air-conditioning industry under Rheem Middle East — and Modern Electronics, to become the exclusive distributor for RUUD’s air-conditioning products in Saudi Arabia, comes at a pivotal time when the HVAC sector in the Kingdom is witnessing substantial growth, driven by increased demand across various sectors including residential, commercial, and industrial markets.
The HVAC market in Saudi Arabia is projected to grow significantly, with a compound annual growth rate of 4.2 percent from 2021 to 2026. The surge in demand is attributed to the Kingdom’s rapid urbanization, extensive infrastructure projects, and a growing emphasis on energy-efficient solutions. Major infrastructure developments under Saudi Vision 2030 are further propelling the need for advanced HVAC systems.
Modern Electronics, well-known for its extensive distribution network, is well-positioned to meet this growing demand. The partnership with RUUD will enable Modern Electronics to deliver high-quality, reliable cooling solutions tailored to the specific needs of consumers in Saudi Arabia.
Brian Hempenstall, general manager of Rheem Middle East and Africa, said: “We are thrilled to partner with Modern Electronics as our exclusive distributor in Saudi Arabia. This collaboration underscores our commitment to providing premium HVAC solutions that meet the diverse needs of our customers in the region.”
Samer Bachour, general manager of sales at Rheem Middle East and Africa, said: “Modern Electronics’ market expertise and comprehensive understanding of Saudi Arabia’s HVAC demands make them an ideal partner. Together, we are dedicated to delivering innovative, energy-efficient cooling solutions that cater to the evolving needs of Saudi consumers.”
Wajih Beiruti, CEO of Modern Electronics, added: “We are delighted to join forces with RUUD to bring their best-in-class HVAC products to our customers in Saudi Arabia. By leveraging our local market knowledge and extensive distribution network, we aim to deliver the latest and most advanced cooling solutions, ensuring exceptional quality and value for our consumers.”
RUUD’s parent company, Rheem Middle East, has a strong reputation for providing highly customized and engineered HVAC solutions. In addition to expanding its product offerings, Rheem Middle East is committed to supporting the local HVAC sector’s development. Earlier this year, Rheem Middle East launched an innovation learning center in Riyadh to train young Saudis, aiming to increase local expertise in the HVAC industry.
This partnership and RUUD’s dedication to expanding its market presence and delivering advanced cooling solutions to meet the growing demand in Saudi Arabia also highlights the Kingdom’s appeal as a key market.
Samaco Motors unveils new Porsche Panamera
Porsche Saudi Arabia and Samaco Motors have launched the new Panamera 2024, which challenges boundaries with more power, state-of-the-art technology, an enhanced driving dynamic, and new design features. The launch events were held in Riyadh and Jeddah.
The Panamera’s debut in Riyadh featured a glamorous reveal illustrating the seamless integration of luxurious design and digital innovation that defines the new model. Attendees experienced firsthand the advanced capabilities of the Panamera’s upgraded suspension systems and the robust performance of its e-hybrid powertrains, which promise an unmatched blend of power and sustainability.
In Jeddah, the event provided an exclusive opportunity for guests to take the wheel and experience the agility and power of the Panamera 2024. This hands-on experience highlights the vehicle’s enhanced driving dynamics and technological integrations, setting a new benchmark for what enthusiasts can expect from a luxury sports sedan.
Rashad Embaby, general manager of Porsche Saudi Arabia, said: “The new Panamera 2024 represents a pivotal evolution in our pursuit of combining luxury with performance and environmental consciousness. It exemplifies Porsche’s innovative spirit and our dedication to exceeding the expectations of our discerning customers in Saudi Arabia and around the world.”
The new Panamera 2024 showcases an array of advanced and sophisticated digital features, luxurious design elements, upgraded suspension systems, and enhanced e-hybrid powertrains, offering a superior blend of performance and efficiency.
Its four-liter V8 turbo engine paired with a 140 kW electric motor, delivers a combined output of 680 PS and a torque of 930 Nm. This configuration enables the car to accelerate from 0 to 100 km/h in just 3.2 seconds, with a top speed of 315 km/h, while offering an electric range of up to 91 kilometers.
In line with global trends toward sustainability and efficiency, the new Panamera 2024 includes features designed to minimize environmental impact.
This regional launch signifies the expansion of Porsche’s strategic vision and its commitment to exceptional automotive experiences across the Middle East. Porsche Saudi Arabia and Samaco are encouraging luxury car enthusiasts to visit their showrooms to discover the features embedded within the new model and test drive it.
