Alinma to finance Bahri’s fleet modernization drive

Alinma to finance Bahri’s fleet modernization drive
Basil Abulhamayel, chief financial officer at Bahri, and Jameel Al-Hamdan, chief corporate banking group at Alinma Bank, signed the facility agreement.
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Updated 22 October 2024
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Alinma to finance Bahri’s fleet modernization drive

Alinma to finance Bahri’s fleet modernization drive

Bahri, the national shipping company of Saudi Arabia and a global leader in maritime transportation and logistics, signed a landmark Murabaha agreement with Alinma Bank to secure financing to support its fleet modernization program.

Basil Abulhamayel, chief financial officer at Bahri, and Jameel Al-Hamdan, chief corporate banking group at Alinma Bank, signed the agreement on behalf of their respective organizations. Senior executives from both sides were present at the signing ceremony.

Under the terms of the agreement, Alinma Bank will extend a credit facility worth SR2.8 billion ($756 million) to partially finance the purchase of nine state-of-the-art very large crude carriers intended to streamline the process of phasing out older vessels. The move will further strengthen Bahri’s position as a global leader in maritime logistics and transportation.

Commenting on the agreement, Abulhamayel said: “We are delighted to partner with Alinma Bank to finance one of our significant fleet modernization drives. The enhanced financial capabilities from this collaboration will fuel our efforts to improve our overall fleet competitiveness that will lead to enhancing the company’s revenues and profitability, aligning with our long-term strategic goals. With these strengthened capacities, we are confident in supporting the Kingdom’s vision to become a global leader in maritime and logistics in line with Vision 2030.”

Al-Hamdan said: “We are pleased to finance one of Bahri’s key strategic vessels acquisitions in recent years. This collaboration aligns with our ongoing commitment to Vision 2030 and supports our strategic initiatives to enhance Alinma Bank’s position as the preferred financial partner for the public and private sectors.”

Strategic fleet modernization has always been a core focus of Bahri’s strategy. Leveraging the Kingdom’s strategic location, the company has been actively expanding into new sectors and global markets.


KSA’s first cruise ship ‘AROYA’ sets sail on maiden voyage

KSA’s first cruise ship ‘AROYA’ sets sail on maiden voyage
Updated 23 December 2024
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KSA’s first cruise ship ‘AROYA’ sets sail on maiden voyage

KSA’s first cruise ship ‘AROYA’ sets sail on maiden voyage

The inaugural non-commercial voyage of AROYA Cruises, Saudi Arabia’s first-ever cruise line, set sail on Dec. 11, embarking on a three-night journey across the Red Sea with no fixed destination.

Offering a remarkable home-at-sea experience where luxury, comfort, and adventure seamlessly combine, AROYA offers a gateway to a world of discovery, blending Arabian hospitality with modern luxury.

This exclusive experience provided guests, including Saudi media representatives and social media influencers, with the unique opportunity to explore what it truly means to sail on Saudi Arabia’s first-ever cruise line.

Turky Kari, executive director of marketing and corporate communications at AROYA, said: “Generosity and hospitality are core to our values. We want families to leave with memories of warmth, care, and the unique Arabian ‘kefa’ (generosity) that defines AROYA Cruises.”

“Part of Vision 2030 is to build a robust tourism industry, both domestic and international. AROYA Cruises is a reflection of that vision — Saudi Arabia’s first cruise line, designed to offer a uniquely Arabian experience,” Kari added.

With 19 decks, AROYA offers a luxury floating resort. The ship spans more than 330 meters and accommodates 1,678 cabins. Guests are treated to world-class dining, immersive entertainment, and exceptional concierge services. The ship is served by a crew of more than 1,500 individuals who manage all aspects of the vessel, from wings and engines to hotel operations, hospitality and restaurants, ensuring daily services. A meticulously scheduled full-day program for guests is planned, ensuring that no minute of their stay is wasted. The daily itinerary includes a variety of activities catering to all age groups and tastes.

The cruise features a variety of accommodations, ranging from thoughtfully curated cabins to the elite Khuzama suites, offering guests the pinnacle of luxury. Khuzama’s offerings include 145 suites, including Royal Villas, which is among the largest in the cruise industry spanning across six bedrooms, as well as two Presidential Villas and Senior Suites.

The remaining 1,524 cabins are diverse, including interior cabins, sea-view cabins with windows overlooking the sea, and balcony cabins, with approximately 1,000 of these cabins featuring private balconies.

The experience aboard AROYA is a celebration of Saudi culture and its regions. Walking through the corridors, guests are surrounded by 2,589 artworks, 60 percent of which are created by Saudi artists, reflecting the diversity and beauty of the Kingdom’s rich cultural heritage.

“Everything we provide, from the ship’s design to food, entertainment, and programming, is inspired by modern Arabian culture and tailored to the tastes of Arabian families,” Kari said.

The cruise also offers specially designed cabins for guests with disabilities, featuring a range of accommodations with varying dimensions and unique features to ensure both comfort and safety. These accessible cabins are equipped with wider doors, lower furniture, and adjustable features to cater to the specific needs of individuals with mobility challenges.

AROYA offers a diverse culinary experience with 12 restaurants and 17 lounges, catering to every taste. Among these is IRTH, the first Saudi restaurant at sea, offering authentic local cuisine. The ship also includes specialty restaurants serving seafood, Italian, and Lebanese dishes, along with a unique “Sea Shisha” offering.

The ship features 20 entertainment venues, including The Atrium, Challenge Chambers, and Glitch VR. AROYA Theatre hosts a variety of performances, including Broadway productions, comedy shows, and international dance performances. The cruise also showcases regional traditions, such as Saudi Arabia’s Ardah dance performance, recognized by UNESCO as an Intangible Cultural Heritage.

AROYA Cruises offers a variety of itineraries, including exclusive trips around the Red Sea. Guests can embark on a three-night voyage departing from Jeddah, with prices starting at SR1,672 ($445).

“Starting Dec. 16, we offer exclusive itineraries, including private island trips and journeys to Egypt and Jordan. Special thematic cruises, such as the six-night Founding Day celebration in February, will bring fresh and unique experiences for our guests throughout the year,” Kari said.

Additionally, starting on Dec. 22, AROYA will set sail to Sharm Al-Sheikh, with future destinations including the Mediterranean and the Arabian Gulf by 2025.

“By 2025, we’ll take our remarkable Arabian experience to the Mediterranean, offering a unique East Mediterranean journey. We will soon cruise in the Mediterranean and stop by Türkiye and Greece,” Kari added.

AROYA Cruises is committed to preserving the natural beauty of the Red Sea. “We are continuously exploring ways to preserve the Red Sea and its coral reefs, working with the relevant authorities to ensure we operate sustainably,” Kari said.

Launched in June 2023 as a part of Cruise Saudi, AROYA Cruises embodies the Kingdom’s ambitious Vision 2030. The cruise line represents the Kingdom’s commitment to diversifying its economy and developing its tourism sector.

AROYA Cruises aims to become a leading player in the global tourism industry. By 2025, the cruise line will expand its itineraries, offering new routes in Saudi Arabia, the UAE, Bahrain, and beyond.


AMUOBA Jeddah marks Sir Syed Day with enthusiasm

AMUOBA Jeddah marks Sir Syed Day with enthusiasm
Updated 23 December 2024
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AMUOBA Jeddah marks Sir Syed Day with enthusiasm

AMUOBA Jeddah marks Sir Syed Day with enthusiasm

The Aligarh Muslim University Old Boys Association — Jeddah Chapter commemorated the anniversary of Sir Syed Ahmad Khan’s birth at Crown Plaza, uniting 500 alumni and their families to honor his enduring legacy of education and community uplift.

Member of the Indian Parliament Zia ur Rehman Barq was the chief guest. He paid tribute to Sir Syed’s sacrifices, such as selling his house to establish Aligarh Muslim University. He described Sir Syed, founder of Aligarh Muslim University, as a transformative Muslim leader whose vision of education, literacy, and social uplift remains vital today and called for unity to advance this vision.

Guest of Honor Atif Hanif underscored the importance of continuing Sir Syed’s mission, describing it as a roadmap for progress. During his address, he presented the book “Shaikh Mohammed Abdullah: A Pioneer of Muslim Women Education,” commemorating the 150th birth anniversary of the trailblazer.

Popular Urdu poet and AMU alumnus Azhar Iqbal added to the event’s excitement with poetic reflections celebrating Aligarh’s timeless values and the transformative power of education.

AMUOBA President Aqeel Jamil reaffirmed the association’s dedication to Sir Syed’s vision of empowering generations through education and leadership. He outlined key initiatives, including the Youth Leadership Program, conducted in collaboration with Toastmasters International, which has trained 30 boys and girls in leadership and public speaking skills.

AMUOBA’s flagship initiative transforms the lives of underprivileged children in Aligarh by making quality education accessible. Through collaboration with Hamara School, the program offers direct opportunities for members to support a child’s education, creating lasting community uplift.

Dr. Zargham Zia, co-founder of Hamara School, highlighted the school’s impact over the years in transforming lives.

Additionally, the “Teach One, Employ One” program connects young alumni with industry leaders, who offer career guidance and job opportunities.

As a gesture of appreciation, mementos, and gifts were presented to dignitaries and attendees by advisers Farzan Rizvi, Nooruddin Khan, Aziz ur Rub, Ateeq Siddiqui, sponsors, and other committee members.

Earlier, the program began with a Qur’anic recitation by Fahad Zinjani, followed by senior alumni Syed Nematullah and Anjum Iqbal presiding as special guests.

General Secretary Prince Mufti Ziaul Hasan anchored the program with eloquent Urdu couplets that added warmth and elegance, while Vice President Asim Zeeshan delivered a heartfelt vote of thanks.

The event concluded with a soulful rendition of the university anthem “Taraana,” performed by the team of Siddiqui, Zeeshan, Hasan, Mohammed Sirajuddin, Rabnawaz Khan, Athar Rasool, and Nayyer Abbas, followed by a sumptuous dinner.


Urban development under Vision 2030 sees smart living on the rise

Urban development under Vision 2030 sees smart living on the rise
Updated 22 December 2024
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Urban development under Vision 2030 sees smart living on the rise

Urban development under Vision 2030 sees smart living on the rise

As Saudi Arabia undergoes unprecedented urban development, Vision 2030 is transforming Saudi Arabia’s economy and reshaping the lifestyle and living standards of its residents. The Kingdom’s young, tech-savvy population and a growing number of expatriates are driving the demand for integrated, sustainable, and technologically advanced residential solutions.

“Over the past decade, Saudi Arabia has witnessed a remarkable evolution in its residential landscape. Smart living is becoming a cornerstone of Saudi Arabia’s urban development strategy,” said Evgenia Naimat, general manager at Al-Nakhla Investment. 

“The shift from isolated housing units to integrated communities equipped with smart and vibrant living solutions signals a transformative era,” she added.

Globally, a Deloitte study highlights that more than 75 percent of tenants prioritize smart technologies, such as automated lighting, climate control and remote security systems, when selecting housing. 

Evgenia Naimat, general manager at Al-Nakhla Investment

The adoption of such technologies in the Kingdom’s real estate market aligns with its ambitious goals to position itself as a global innovation hub.

According to a recent report by Knight Frank, 67 percent of Saudi nationals express interest in mixed-use developments, valuing convenience, amenities and a sense of community over traditional housing models.

“Additionally, sustainability is now a critical component of the housing sector. As a key player in driving green innovation in real estate, the Kingdom has delivered on its commitment to sustainable development through key initiatives such as the Mostadam and the Saaf Certification Program,” said Naimat.

A 2023 survey by PwC revealed that 80 percent of Saudi millennials, which make up one of the Kingdom’s largest demographics, prefer environmentally friendly residential solutions and developers are increasingly integrating green spaces, energy-efficient designs and eco-conscious initiatives into their projects.

Integrated communities, offering a blend of residential, retail and leisure spaces, are quickly becoming a preferred choice for residents in Saudi Arabia. 

Research by JLL shows that residents in such communities are 35 percent more likely to renew their leases, driven by access to curated amenities and lifestyle benefits.

“We believe that redefining residential living goes beyond offering a place to stay. It’s about creating an ecosystem that combines convenience, community, and sustainability and our goal is to be a community where residents feel truly at home while experiencing the best of modern and smart living,” said Naimat. “Al-Nakhla has set a benchmark in delivering lifestyle-oriented solutions. Furthermore, its sustainability initiatives, including energy-efficient designs and green spaces, lead the way in community-building.”

Award-winning communities like Al-Nakhla Residential Resort and Al-Sharq Village, both by Al-Nakhla Investment, exemplify how integrated communities can meet the growing demands of a modern Saudi lifestyle. The projects feature state-of-the-art smart apps that enable residents to manage services seamlessly and pay rent to community-focused amenities like 6,000 square meters of green areas, which blend natural surroundings within the urban environment. Other amenities include 23 swimming pools, a bowling alley, cinema, and various sports courts that provide ample opportunities for leisure and recreation.

As the Kingdom rapidly advances and progresses, driven by a massive influx of people from across the globe, communities like Al-Nakhla Residential Resort and Al-Sharq Village play a pivotal role in elevating living standards, contributing to Vision 2030’s goal of fostering a vibrant, innovative and inclusive society.


Karnataka state opens investment avenues for Indian expats in KSA, GCC

Karnataka state opens investment avenues for Indian expats in KSA, GCC
Updated 22 December 2024
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Karnataka state opens investment avenues for Indian expats in KSA, GCC

Karnataka state opens investment avenues for Indian expats in KSA, GCC

News Trail, a leading English daily with editions in Bangalore and Qatar, has collaborated with the government of Karnataka to host the NRI Investment Summit Roadshow in Saudi Arabia and the UAE.  This initiative underscores Karnataka’s commitment to unlocking global investment opportunities and fostering economic growth.

The roadshow in Jeddah was held on Dec. 22 at the Park Hyatt. It will be held in Riyadh on Dec. 23 at the InterContinental Riyadh and in Dubai on Dec. 24 at the Grand Hyatt. 

The government of Karnataka, led by Chief Minister Siddaramaiah, aims to connect with non-resident Indians in GCC nations, offering a platform to explore the state’s diverse investment opportunities. 

With a minimum investment requirement of 50 million Indian rupees ($588,600), Karnataka is opening its doors to a world of possibilities across sectors such as micro, small and medium enterprises, tourism and wellness, IT, textiles, and agriculture.

The state, known as India’s “Silicon Valley,” contributes 8 percent to India’s GDP and leads the nation in IT exports, accounting for a staggering 40 percent. It has emerged as a hub of economic innovation, supported by its robust infrastructure, skilled workforce, and business-friendly policies.

Senior officials from the Karnataka government, led by Dr. P.C. Jaffer, IAS, secretary to government (budget and resources), Department of Finance; Vipul Bansal, secretary to MSME department; Nitesh Patil, director MSME; Dr. Rajendra, managing director — KSSIDC; and Varnit Negi, managing director, Karnataka Handloom Development Corporation; will deliver exclusive presentations on the state’s investment potential. 

Attendees will have the opportunity to interact with top bureaucrats, gain insights into lucrative opportunities, and engage in discussions to facilitate investments.

“As a trusted voice in the GCC and Karnataka, News Trail is dedicated to fostering meaningful connections between Karnataka’s dynamic economy and the global diaspora. Through this partnership, we aim to amplify the message of growth, innovation, and collaboration that Karnataka stands for,” a press release said.

News Trail is edited by Rajendra Menon.


LuLu showcases best of Singapore’s gastronomy

LuLu showcases best of Singapore’s gastronomy
Updated 22 December 2024
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LuLu showcases best of Singapore’s gastronomy

LuLu showcases best of Singapore’s gastronomy

The Saudi-Singapore Gastronomy 2024 event at LuLu Hypermarket is showcasing the best of Singapore’s gastronomic delights, bringing 10 premier Singaporean food brands to the hypermarket’s stores across Riyadh, Jeddah and Dammam.

Held in association with the Singapore Food Manufacturing Association, the event — running from Dec. 14-24 — supports the expansion of Singapore’s renowned culinary brands into the Kingdom.

This is the first-ever cross-border event to introduce Singapore’s finest culinary products to the Saudi market, transforming LuLu stores into culinary hubs, showcasing the country’s finest ingredients and flavors. 

The opening ceremony was attended by chief guest Premjith Sadasivan, ambassador of Singapore to Saudi Arabia, and Tonya Tan, founder and business development director of World Future Enterprises, alongside other dignitaries from various fields. 

Upon arrival, Sadasivan was welcomed by LuLu’s senior management with a purple carpet ceremony, bouquets, and a traditional orchid garland. A state-of-the-art robot announced the launch of new products, adding an innovative and tech-savvy dimension to the event. 

Sadasivan said the Saudi-Singapore Gastronomy 2024 event marks a significant milestone in enhancing economic and cultural relations between Singapore and Saudi Arabia. “This event presents exciting business opportunities for the growth of Singaporean products in the Middle Eastern market. By providing Saudi consumers with access to premium Singaporean food brands, LuLu Hypermarket and World Future Enterprises are paving the way for greater collaboration between the two nations,” he added. 

Saudi-Singapore Gastronomy 2024 features a wide range of Singaporean food products, from sauces, spices, and noodles to ready-to-eat meals, offering a blend of authenticity and premium quality. The Singaporean brands debuting in the Kingdom include: Boozt Isotonic Sports Drink, Jungle Kitchen Productions Pte. Ltd, Chilli Brand, Double Elephant Brand, Fred and Chloe, Ideal Food, Quay Wholefoods, MindoFoods, Oatbedient, RÓA Daily, and Flavors of Asia/ Simple Chef. 

Key highlights of the event include tasting tables and interactive live cooking stations manned by celebrity chefs preparing Singaporean dishes.

Shehim Mohammed, director of LuLu Saudi Hypermarkets, said Saudi-Singapore Gastronomy 2024 reflects LuLu’s commitment to offering the best of Singaporean flavors to the sophisticated Saudi palate “With our global network of sourcing offices and state-of-the-art warehousing and logistics support, LuLu Hypermarket is in a unique position to bring the finest food trends from Singapore to Saudi Arabia,” Mohammed said. He said the event presents an exciting opportunity to explore Singapore’s rich culinary offerings bursting with flavor and quality. 

World Future Enterprises’ Tan said the organization focuses on innovation, sustainability, and an immersive retail experience. With her wealth of experience in retail and international brand expansions, Tan aims to drive significant growth and consumer engagement for both Singaporean and Saudi markets.