Riyadh summit explores role of family businesses in sustainable economic development

Roberta Calarese, founder and CEO of GHAYA and creator of World With Purpose
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Updated 29 April 2025
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Riyadh summit explores role of family businesses in sustainable economic development

The second edition of World With Purpose KSA 2025, created by Roberta Calarese, founder and CEO of GHAYA, opened on Monday in Riyadh, under the theme “The Purpose Legacy — Where Family Businesses Meet to Write the Future.”

More than 150 of the most influential local and international family business leaders gathered on the first day to explore strategic investment, sustainable growth, and transformative leadership through high-level, purpose-driven dialogue.

With over 95 percent of Saudi Arabia’s businesses being family-owned — contributing 66 percent of private sector GDP — their foundational role in the local economy is clear. On a global scale, the world’s 500 largest family businesses generated $8.8 trillion in revenue in 2025, equivalent to the third-largest economy after the US and China.

The exclusive, invitation-only summit took place at Bab Samhan, a Luxury Collection Hotel, nestled in the historic Diriyah district. Opening with the session “How Family Businesses Can Lead the Way to Global Prosperity,” the day featured nine dynamic discussions on topics ranging from geopolitics and the regional investment landscape to intergenerational transition, sustainable business, and investing with purpose.

Education and empowerment of future generations were recurring themes, alongside a forward-looking focus on technology and AI for good. Dr. Ayth Almubarak, CEO of the National Center for Family Business, delivered the keynote speech.

Day 2 of the summit featured investment roundtables, tech showcases and sessions on proptech and real estate innovation. 

Discussions on decarbonization and climate-conscious growth reflected Saudi Arabia’s sustainable development priorities.

A special highlight was the Women With Purpose track, with dedicated sessions for female family business leaders. Princess Noura bint Faisal Al-Saud returned to spotlight fashion as a cultural and economic catalyst, while broader panels explored empowering women entrepreneurs to unlock regional prosperity.


iCAUR V27 conquers city roads with new energy technology

Updated 23 February 2026
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iCAUR V27 conquers city roads with new energy technology

A media test drive event focused on premium on-road driving was held in Jeddah. On Feb. 5, iCAUR invited representatives from media outlets, including leading automotive outlet Motory, to take part in an in-depth driving experience featuring the all-round hybrid SUV V27 across urban roads and intercity highways.
Guests gathered at Jeddah’s premium landmark, Millionaire Restaurant, where the iCAUR Saudi Arabia team introduced the V27’s design philosophy and key technologies. Open discussions followed, helping members of the media gain a clearer understanding of iCAUR’s brand vision and the V27’s core strengths ahead of the test drive.
The test drive route covered urban roads in Jeddah as well as inter-city highways leading to King Abdullah Economic City, providing an ideal setting to evaluate the V27’s on-road performance across varied conditions. During long-distance highway driving, range and power remain key considerations, and the iCAUR V27 demonstrated solid on-road performance. As the brand’s first mass-production model equipped with the Golden REEV system, the V27 features a dedicated 1.5T range-extender engine with a thermal efficiency of 45.79 percent. It generates 3.71 kWh of electricity per liter of fuel and delivers a combined range of over 1,000 km, effectively addressing long-distance travel concerns.
On city streets with moderate traffic, the V27 impressed with its smooth and quiet ride. The electric motors deliver responsive, linear acceleration, with seamless start-stop performance that keeps driving relaxed even in traffic. Once on open intercity highways, pressing the accelerator fully unleashes 455 hp from the dual motors, propelling the SUV from zero to 100 km/h in about five seconds. Overtaking and lane changes feel effortless, with no hint of lag at any point.
Even more impressive, this five-meter-long SUV, with a chassis tuned by the internationally renowned racing team Prodive and equipped with an intelligent all-wheel drive system, maintained precise handling at high-speed corners. The steering felt responsive and refined, while the suspension offered solid support, completely defying the typical perception of large SUVs as cumbersome. “I didn’t expect such a large SUV to handle so nimbly — it was enjoyable to drive from start to finish,” one media guest remarked after the test drive. “The intelligent cockpit exceeded all expectations, making long-distance driving both comfortable and enjoyable!”
During the test drive, several media representatives praised the V27’s Stellar Cockpit. The 15.4-inch 3K HD touchscreen delivers crisp, detailed visuals, while the smart infotainment system powered by the 8155 chip ensures smooth operation comparable to a premium tablet, with seamless swiping and no lag. Meanwhile, a temperature-controlled armrest compartment, along with ventilated and heated seats precisely calibrated to the driver’s comfort, kept the driving experience enjoyable throughout the long-distance journey.
Previous test drives at Riyadh’s Edge of the World demonstrated the V27’s off-road capabilities under challenging conditions. The Jeddah media test drive, however, offered a first-hand experience of the V27’s impressive performance in city commuting and intercity highway scenarios. It not only overcomes the typical trade-off between power and range found in conventional new energy vehicles but also seamlessly combines intelligent technology with precise handling, meeting the key expectations of Saudi drivers for on-road performance.
As a model tailored for the Middle East market, the iCAUR V27 made its global debut in the UAE on Feb. 8, followed by a launch in Bahrain on Feb. 10. The arrival of the V27 is expected to bring fresh energy and new possibilities to the region’s premium new energy mobility segment.