New partnership to empower climate tech startups in KSA

Tact Hub is dedicated to driving impactful change through investments in cutting-edge clean and climate technologies. It will collaborate with Falak Investment Hub to develop climate tech startups.
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Updated 22 June 2024
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New partnership to empower climate tech startups in KSA

Berlin-headquartered Tact Hub, the think-and-do tank under Tact Invest, has announced a strategic partnership with Falak Investment Hub, a full-fledged investment firm that supports technology startups and entrepreneurs in Saudi Arabia and the MENA region.

Falak, renowned for its expertise in nurturing startups and facilitating market entry, will collaborate with Tact Hub to identify and develop high-potential climate tech startups.

Its mission also encompasses uniting environmental, social, and governance principles with Shariah-compliant finance, ensuring its investments adhere to both ethical and religious standards.

Through this partnership with Falak Investment Hub, Tact Hub will leverage Falak’s extensive ecosystem in the MENA region to support early-stage companies aiming to scale globally.

Tact Hub startups will gain access to Falak’s robust network and resources, enabling them to scale effectively within the MENA and beyond. Both organizations will co-host curated investment pitch events, providing startups with unique opportunities to engage with a broad spectrum of investors. 

This partnership with Tact Hub embodies our commitment to nurturing a sustainable future through collaboration and respect for our planet.

Adwa Al-Dakheel, founder and CEO of Falak Investment Hub

Moreover, Tact Hub startups will participate in Falak’s Flagship ClimateTech Program done in collaboration with Roots Ventures, benefiting from comprehensive training, mentorship, and market access initiatives designed to accelerate growth and innovation.

This collaboration will support startups that align with Saudi Arabia’s Vision 2030, contributing to the nation’s goals of environmental sustainability and economic diversification. The joint efforts are expected to significantly reduce CO2 emissions, targeting a collective reduction of 1 million tons.

Poonam Balan, managing director of Tact Hub, said: “This partnership with Falak Investment Hub is a significant step toward our goal of driving sustainable innovation. By combining our expertise and resources, we aim to support startups that can make a real impact on global environmental challenges and contribute to the ambitious goals of Saudi Arabia’s Vision 2030.”

Adwa Al-Dakheel, founder and CEO of Falak Investment Hub, said: “At Falak, we believe in the transformative power of community, innovation, and entrepreneurship. This partnership with Tact Hub embodies our commitment to nurturing a sustainable future through collaboration and respect for our planet. With that being said, by joining forces, we are not only fostering the growth of pioneering climate tech startups but also empowering a new generation of entrepreneurs to lead with purpose and impact. We are building a resilient and innovative ecosystem that will drive meaningful change for our environment and our communities.”


LuLu opens two new stores in Riyadh and Dammam

Updated 10 March 2026
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LuLu opens two new stores in Riyadh and Dammam

LuLu Retail has further expanded its presence in Saudi Arabia with the unveiling of two state-of-the-art shopping destinations in Riyadh and Dammam. These new stores are designed to bring a modern shopping experience closer to residential neighborhoods, offering everything from daily groceries to household essentials under one roof.
The expansion includes a massive flagship hypermarket and a convenient express store, each tailored to meet the needs of the local community with high standards of service and variety.
Recently, Yusuffali M. A., chairman of LuLu Group, reaffirmed the group’s commitment to continuous growth while ensuring an uninterrupted supply of products and maintaining stable prices for customers.
The largest of the new openings is located in the Suwaidi district of Riyadh. This massive flagship hypermarket covers more than 400,000 square feet and is built to be a one-stop shop for the capital’s residents.
The store was officially inaugurated by Mohammed Khalid Al-Shalfan, investors relationship manager at the Ministry of Investment, and Matar Salem Ali Marran Al-Dhaheri, ambassador of the UAE to Saudi Arabia.
This new retail landmark features an extensive range of departments, including grocery food and non-food items, beauty and wellness, chilled and dairy products, frozen foods, and a roastery. Shoppers can also find fresh fruits, vegetables, a bakery, and a delicatessen, as well as fresh meat and fish sections. A unique feature is the fresh food dining area. For tech enthusiasts, there are dedicated sections for computers, gaming, telecom, mobile phones, and consumer electronics. The store also carries stationery, household goods, home furnishings, toys, luggage, and footwear, all supported by more than 100 parking spaces.
Meanwhile in Dammam, LuLu inaugurated a new LuLu Xpress store and the LOT, a value shopping destination, in the Faisaliya district. The store was officially inaugurated by Mansour Al-Binali, assistant director general of the Ministry of Human Resources and Social Development for the Eastern Province.
Covering 33,000 square feet, the store includes a wide range of products with fresh food, local produce, and meat, along with a section for technical consumer goods featuring the latest electronics and gadgets. 
The LOT Value Shop focuses on high-quality items at affordable prices. Residents can shop for household goods, home furnishings, stationery, toys, and educational products, most of which are priced below SR22 ($5.86).
For added convenience, the location provides nearly 100 parking spaces.
LuLu has launched special inaugural offers across all departments in both the Riyadh and Dammam stores. These promotions allow customers to enjoy significant savings on a wide range of products and international brands. This expansion reinforces LuLu’s commitment to supporting the Kingdom’s retail growth and providing quality service to neighborhoods across Saudi Arabia.