Kerten Hospitality announces ‘House Urban Eco Resort’ in Riyadh

Updated 13 March 2024

Arab News

March 13, 2024 11:35

Kerten Hospitality, in partnership with developers RIKAZ and RAFAL and with the support of the Ministry of Tourism, unveiled a ground-breaking project in the heart of Riyadh — The House Urban Eco Resort. This unique resort is set to redefine urban eco-living, blending leisure, wellness, and business within a sustainable and luxurious environment.

Kerten Hospitality — a global hotel operator recognized for its innovative approach to integrated living — has projects spanning across various countries, each uniquely tailored to embody the local culture and community ethos. With a diverse portfolio that includes bespoke hotels, residences, and lifestyle destinations, Kerten Hospitality is at the forefront of creating spaces that blend work, life, and leisure in harmonious synergy.

Situated in the heart of Riyadh, The House Urban Eco Resort is a paradigm of urban eco-friendliness, seamlessly blending green living within the city’s vibrant landscape. It boasts diverse services that cater to every need, featuring outdoor and dynamic working spaces, all resonating with the forward-thinking ethos of Vision 2030. The resort further distinguishes itself with its integrated dining and event spaces, offering a versatile setting for both private gatherings and curated events.

A cornerstone of the resort is its wellness focus, encompassing modern spa treatments and comprehensive wellness facilities including therapeutic treatments. Additionally, The House Urban Eco Resort offers a tranquil haven for staycations, casual social hangouts and corporate stays, making it the epitome of sophisticated urban living combined with eco-conscious sensibilities.

The House Urban Eco Resort Riyadh emerges as a one-of-its-kind sustainable urban oasis in the bustling cityscape. It embodies the essence of eco-conscious living while providing high-end services and facilities. The resort aims to preserve and enhance the oasis, keeping the distinctiveness of Riyadh’s natural oasis intact while creating a purposeful destination for both international travelers and locals.

It offers a blend of leisure, wellness, and business through its versatile mix of amenities catering to a diverse range of needs — from wellness elements to business facilities.

The resort will feature an interactive F&B experience in collaboration with local chefs, offering behind-the-scenes dining and event hosting. This initiative aims to provide a versatile culinary experience, seamlessly merging dining with event spaces.
Marloes Knippenberg, CEO of Kerten Hospitality, said: “The House Urban Eco Resort Riyadh is not just a resort; it’s a live demonstration of Saudi Arabia’s Vision 2030. It showcases the future of sustainable urban development, today. The resort’s eco-conscious design and services embody the principles of Vision 2030, offering guests a unique glimpse into the future of urban living.”

Unlike traditional eco resorts situated in remote natural settings, The House Urban Eco Resort revolutionizes sustainability by providing a green haven amidst vibrant cityscapes. With Riyadh as just the beginning, Kerten Hospitality’s plans include extending their footprint across Saudi Arabia, targeting various urban locales. This expansion mirrors the increasing desire for eco-friendly hospitality options in urban locations.

Kerten Hospitality, in strategic alliance with RIKAZ and RAFAL, and bolstered by the support of the Ministry of Tourism, is redefining the standards in eco-conscious urban hospitality. With The House Urban Eco Resort Riyadh, they are not just building a resort; they are crafting a sustainable future.

The Ministry of Tourism’s involvement plays a critical role in providing methodical guidance, ensuring that the project aligns with national tourism objectives and sustainability goals. The Ministry’s support is instrumental in amplifying the resort’s impact on the local community and the environment, promoting it as a model for eco-friendly urban development in the Kingdom.

RIKAZ, under Chairman and CEO Khalid Algahtani, is renowned for innovative projects that emphasize community integration and environmental values. Their commitment to “Rising Beyond” reflects in every project, including this foray into hospitality. Algahtani said: “At RIKAZ, we firmly believe in the power of strategic partnerships. This collaboration aligns seamlessly with RIKAZ’s expansion strategy by fostering partnerships with highly respected institutions like Kerten Hospitality and Rafal. It underscores our commitment to tapping into the significant real estate development in Saudi Arabia, in harmony with the ambitious Vision 2030. By leveraging this premium location and its natural oasis status, we firmly believe that the Urban Eco Resort will be a new experiential retreat to the hospitality market.”

RAFAL, led by CEO Elias Abou Samra, is dedicated to developing distinguished communities in Riyadh. Known for projects like Burj Rafal and RAFAL Residence, their partnership with Kerten Hospitality is a testament to their expertise in creating unique lifestyle experiences.

Kerten Hospitality’s “The Collective” initiative marks a significant investment in the Saudi hospitality sector, with 22+ projects. This initiative not only demonstrates Kerten Hospitality’s commitment to expanding its footprint in the Kingdom but also highlights its role in shaping the future of hospitality in the region.

Eyeing KSA’s $1.1bn rice market, LT Foods opens Riyadh office

Updated 02 December 2024

Arab News

December 02, 2024 23:20

Eyeing KSA’s $1.1bn rice market, LT Foods opens Riyadh office

Updated 02 December 2024

Arab News

December 02, 2024 23:20

LT Foods Ltd., a global fast-moving consumer goods company in the consumer food space, has announced its official entry into Saudi Arabia with the inauguration of a new office in Riyadh.

The goal is to tap the $1.1 billion rice and rice-based food market in the Kingdom.

The move is part of the company’s strategic vision of expanding its global footprint to newer geographies. Today, LT Foods generates $1 billion in global revenue, demonstrating an established track record of sustained year-on-year profit growth. It has delivered 18 years of revenue compound annual growth rate of 18 percent and a profit CAGR of 21 percent.

With its new office in Riyadh, the company is set to revolutionize the rice market in Saudi Arabia and meet consumers’ growing demand for authentic and premium rice and rice-based food products. The new office will act as a hub for LT Foods’ regional operations, enabling the company to leverage its deep expertise in rice and rice-based food products that align with Saudi-based consumers’ tastes and culinary traditions.

LT Foods plans to invest SR185 million ($49.2 million) in warehousing, stocks, and people over the next five years in the Kingdom. It is eyeing a revenue of SR435 million over the next five years. With Saudi Agricultural and Livestock Investment Company as a key shareholder, LT Foods is also gearing to set up local manufacturing facilities in the Kingdom.

Vijay Arora, chairman and managing director, LT Foods, said: “We have built successful businesses in every market where we have set up our operations. We have provided quality products and premium food offerings to consumers. LT Foods has also added significant value to the economy and to its operations. We are now very excited to expand our footprint in Saudi Arabia. Our trusted brands — Daawat, Hadeel and Mufaddal — have long been a part of the Kingdom of Saudi Arabia. With SALIC being a strategic shareholder in LT Foods, we are now expanding our footprint in the Kingdom with warehouses and are prepared to establish local manufacturing.”

Gursajan Arora, CEO — Middle East Business, LT Foods, said: “Saudi Arabia is one of the largest importers of rice and a key market for us. We see tremendous potential for growth in the market and are excited to bring our legacy of quality, innovation, and trust to the region. With our Riyadh office, we aim to deepen our connections with local consumers and partners, tailoring our offerings to meet their specific preferences. We are confident in our ability to strengthen our market presence, drive sustainable growth, and continue delivering exceptional value to all our stakeholders.”

SADAFCO-MODON partnership to drive sustainable development

Updated 02 December 2024

Arab News

December 02, 2024 23:16

SADAFCO-MODON partnership to drive sustainable development

Updated 02 December 2024

Arab News

December 02, 2024 23:16

Saudia Dairy and Foodstuff Company, known as SADAFCO, and the Saudi Authority for Industrial Cities and Technology Zones, or MODON, have signed a memorandum of understanding to advance sustainable development and enhance collaborative efforts.

Brian Strong, SADAFCO’s chief transformation officer, signed the agreement with Majed bin Rafed Al-Arqoobi, MODON’s CEO. The partnership signifies a commitment to mutual knowledge-sharing, operational collaboration, and environmental responsibility.

The MoU outlines several key areas of collaboration:

• Knowledge exchange: SADAFCO and MODON will exchange expertise to enhance efficiencies and develop best practices in their respective sectors.

• Joint workshops and training: Both organizations will host workshops and training sessions that cater to shared goals, enhancing skill development and fostering continuous learning.

• Consultancy and studies: The two parties will collaborate on studies and advisory services, exploring new solutions to drive operational excellence and address industry challenges.

• Public relations and media: SADAFCO and MODON will work together on public relations initiatives that highlight their commitment to sustainable industrial growth.

Central to this partnership is the support for the “Green Saudi Cities” initiative, which aims to develop green spaces, including playgrounds and parks, near Jeddah’s industrial residential areas.

“This MoU reflects our dedication to community-centric sustainable growth. By working with MODON, we hope to foster environments that benefit the people and support Vision 2030’s goals of environmental responsibility,” said Strong.

Al-Arqoobi added: “Our collaboration with SADAFCO aligns with MODON’s mission of building sustainable, community-oriented spaces. Together, we are working to create industrial cities that enhance quality of life and support the Kingdom’s long-term vision.”

The partnership underscores a shared commitment to creating positive, sustainable impacts within Saudi Arabia’s industrial landscape.

VTB’s ‘Russia Calling!’ forum on Dec. 4-5

Updated 02 December 2024

Arab News

December 02, 2024 19:11

VTB’s ‘Russia Calling!’ forum on Dec. 4-5

Updated 02 December 2024

Arab News

December 02, 2024 19:11

The 15th VTB Investment Forum “Russia Calling!” will take place on Dec. 4-5 in Moscow. The theme of the forum is “The future of capital and the capital of the future.”

Traditionally, Russian President Vladimir Putin will deliver his keynote speech at the plenary session on the first day of the forum. He will answer questions from delegates representing the finance and investment communities of China, India, Turkiye, the Gulf states, Africa, Central and Southeast Asia, and other world regions. Andrey Kostin, president and chairman of the management board of VTB Bank, will moderate the session.

“Russia is demonstrating resilience in demanding circumstances as it adapts to macroeconomic challenges and opens avenues for domestic growth. Today’s situation is not only a test, but an opportunity to develop technological sovereignty, stimulate production and reinforce financial stability. As a leading bank, we continue to support innovative projects and introduce new tools to attract investments, ensuring sustainable economic growth over the long term,” said Kostin.

The macroeconomic session of the first day of the forum will focus on Russia’s monetary and budgetary policies, mechanisms of cooperation between countries Russia is building ties with, support for long-term investments and development of labor and HR potential. Speakers include: Minister of Finance of the Russian Federation Anton Siluanov, Chairman of the Central Bank of Russia Elvira Nabiullina, Minister of Economic Development of the Russian Federation Maxim Reshetnikov, and Deputy Head of the Presidential Administration Maxim Oreshkin. The session will be attended by representatives of the domestic and foreign business community. VTB’s First Deputy President and Chairman of the Management Board Dmitry Pyanov will moderate the session.

The second day of the forum is dedicated to retail investment and financial market development. It starts with a presentation of “VTB My Investment’s” strategy for 2025 and continues with sessions on the most pressing issues facing the stock market. Participants will include representatives of issuing companies, government agencies and retail investors.

The sessions will be streamed online and the agenda will be available on the official website.

The “Russia Calling!” forum has been held annually since 2009. Each year, the event attracts a distinguished and influential audience, which includes representatives of government agencies, heads of Russian and international companies, and investors. The forum’s agenda addresses the critical issues currently facing the global economy, finance, and business sectors.

VTB Group boasts an international network that sets it apart from other Russian banks, driving the development of international cooperation and an alternative system of international payments. The group operates subsidiaries and associated banks in Armenia, Belarus, Kazakhstan, Azerbaijan, Vietnam, a branch in India, a branch and a representative office in China, and a representative office in Iran. The bank’s own closed-loop payment infrastructure ensures the reliability and security of settlements via VTB.

New $100m JV to drive global growth in media, entertainment, technology, and tourism

Updated 02 December 2024

Arab News

December 02, 2024 13:21

New $100m JV to drive global growth in media, entertainment, technology, and tourism

Updated 02 December 2024

Arab News

December 02, 2024 13:21

Australian Chinese investment company MCA Capital Group and Saudi holding company RMA Ventures have announced a landmark $100 million investment into a new joint venture fund that will drive global growth across multiple high-impact sectors, including media, entertainment, technology, and tourism.

The partnership will leverage the unique strengths of both MCA and RMA to produce high-quality content and events, as well as investing in companies and initiatives that are transforming the entertainment, technology, and tourism sectors.

Initial projects will focus on creating, producing, and distributing diverse and culturally relevant content, organizing large-scale events, and supporting innovative initiatives in entertainment, technology, and tourism. By also integrating entertainment and cultural tourism, the partnership will attract international visitors and promote cross-cultural exchange.

“We are thrilled to announce this significant investment and strategic partnership, which goes beyond traditional borders,” said Redha Alhaidar, chairman of RMA. “This joint venture is an exciting step forward not only for Saudi Arabia but also for international collaboration in the fields of media, entertainment, technology, and tourism. By joining forces with MCA, we aim to create sustainable growth opportunities, develop local talent, and strengthen cross-cultural ties between Saudi Arabia and the broader global market.”

In addition to producing content and events, the venture will also explore the adaptation of successful Chinese and Saudi media and entertainment properties for the MENA region and globally.

As part of the joint venture, MCA will contribute its extensive experience in international media production, entertainment, and cross-cultural partnerships, while RMA will provide deep local market expertise and facilitate strategic connections across sectors in media, technology, and tourism.

“This partnership is about creating long-term, meaningful growth with a truly global vision,” said Shelly Yu, chairperson of MCA Capital. “We are committed to supporting local talent development, fostering creativity, and advancing a vision that sees our two communities at the forefront of global entertainment, technology, and tourism innovation. By leveraging our collective strengths, we can help shape a more interconnected and culturally vibrant world.”

Diriyah Gate and Saudi Council of Engineers sign MoU

Updated 01 December 2024

Arab News

December 01, 2024 22:01

Diriyah Gate and Saudi Council of Engineers sign MoU

Updated 01 December 2024

Arab News

December 01, 2024 22:01

Diriyah Gate Development Authority has signed a memorandum of understanding with the Saudi Council of Engineers to expand collaboration between the two entities. This agreement will consolidate efforts in the engineering sector, including the development of policies and regulations, implementation of oversight and inspection mechanisms, simplifying procedures related to permits and licenses, exchanging data and expertise, and working on joint projects and initiatives.

The MoU was signed by Jerry Inzerillo, CEO of DGDA, and Abdulmohsen Almajnouni, secretary-general of SCE. The MoU emphasizes the necessity of unifying efforts between the two parties, facilitating procedures, and enabling collaboration to enhance quality, increase efficiency, and ensure continuity of work while maintaining agility in jointly addressing challenges.

Through the exchange of relevant statistics, studies, and research, the memorandum will help strengthen the relationship between the two parties, helping to achieve their shared goals and aspirations. Additionally, it seeks to contribute to the implementation of joint projects and initiatives. A joint working team will be established to enhance collaboration in shared areas such as aligning the development of mechanisms for issuing necessary licenses and permits for service providers within the supervisory scope of DGDA as well as cooperating in the qualification and classification of professional offices under SCE.

Inzerillo highlighted the significance of the MoU, saying that the agreement will support DGDA’s organizational role in simplifying licensing, permits and oversight procedures, which contributes to highlighting the extensive historical roots of Diriyah as the birthplace of Saudi Arabia. It will also showcase the distinctive architectural features to provide a unique experience for visitors from around the globe. This will be achieved through collaboration between the two parties, aligning with DGDA’s objectives and enhancing its contributions to cultural, tourism, architectural and economic development, as well as strengthening governance between the entities.

Almajnouni said that the partnership between the two parties is expected to achieve shared objectives that lead to sustainable development in accordance with the highest international standards. “This memorandum will enhance Diriyah’s status as a leading cultural and historical destination both regionally and globally, while also contributing to the development of cultural and historical awareness related to the engineering field,” he added.

Kerten Hospitality announces ‘House Urban Eco Resort’ in Riyadh