Luxury redefined: VZ Bespoke committed to Saudi Arabia’s Vision 2030

Updated 2 min 3 sec ago

Arab News

November 10, 2024 20:22

As Saudi Arabia embarks on a historic transformation under Vision 2030, VZ Bespoke is positioning itself as a key player in the Kingdom’s evolving luxury, tourism, and entertainment sectors. Co-founders Andrea Zagatti and Alberto Verdulli bring over 15 years of experience serving ultra-high-net-worth individuals, celebrities, and royals, aligning their bespoke services with Saudi Arabia’s vision to diversify its economy and elevate its global standing.

Built on a Michelin three-star philosophy, VZ Bespoke redefines luxury with tailor-made experiences, concierge solutions, and exclusive access to the most precious black book in the world. Focused on delivering elite services, VZ Bespoke is set to make a significant impact on the Kingdom’s luxury tourism industry. “Saudi Vision 2030 is reshaping the Kingdom’s economy and culture, and we see a tremendous opportunity to contribute to its growth,” says Zagatti. The company’s bespoke services — from luxury tourism to exclusive entertainment — are perfectly suited to Saudi Arabia’s evolving landscape.

Elevating Luxury Tourism

Tourism is a key pillar of Vision 2030, with Saudi Arabia aiming to attract global visitors through its rich cultural heritage and future mega-projects. VZ Bespoke, with its expertise in curating ultra-luxury experiences, is well-positioned to cater to the needs of discerning travelers. Zagatti said: “Saudi Arabia is becoming a top destination for luxury travelers. We create experiences that are not just luxurious but also deeply rooted in the Kingdom’s culture.”

In alignment with Saudi Arabia’s vision, VZ Bespoke is exploring partnerships with top entities involved in the Kingdom’s most ambitious projects, such as Red Sea Global and NEOM. Verdulli said: “Our close collaboration with key stakeholders allows us to provide unique, high-end experiences, ensuring our clients experience Saudi Arabia in a way that is both luxurious and reflective of its remarkable transformation.”

Sports, Entertainment and F&B

Vision 2030 places a strong emphasis on sports and entertainment development, and VZ Bespoke is contributing to this sector by bringing world-class events to the Kingdom. “We organize private concerts, exclusive dinners, and VIP experiences. Saudi Arabia’s ambitious agenda in sports and entertainment aligns with what we do best — creating unforgettable, high-profile events,” said the founders.

In addition to curating elite experiences, VZ Bespoke is uniquely positioned to introduce innovative concepts and projects that can further boost Saudi tourism, reinforcing its status as a premier destination for luxury and entertainment. “We have access to incredible ventures eager to launch in the Kingdom, and we’re excited to bring these pioneering ideas to Saudi Arabia,” said Zagatti. Whether it’s VIP access to sold-out events or exclusive meet-and-greet opportunities, VZ Bespoke ensures that their clients enjoy only the most elite, tailored experiences while contributing to the country’s ambitious vision for the future.

Exclusive Memberships

At the core of VZ Bespoke’s offerings is an exclusive membership program that delivers personalized lifestyle management for UHNWIs, crafted uniquely for each client. “Our memberships are entirely bespoke, tailored to the needs of each client,” said Zagatti. The VZ Private Membership, limited to just 12 clients per year, offers a tailored experience including bespoke travel, private VIP events, access to exclusive off-market assets, and high-level personal solutions. With a £25,000 ($32,490) entry fee and an annual membership fee of £25,000 credited toward services, members gain access to VZ Bespoke’s coveted “black book” of strategic opportunities.

For the elite few, the VZ Corporate Membership extends these luxury services to top clients and executives in select corporations, including private banks, law firms, and family offices. Limited to only six corporate memberships annually, this tier provides access to rare events, asset sourcing, bespoke travel, and priority event coordination, all customized to the firm’s specific portfolio. Membership fees are tailored based on service needs, operating as a credit pool for flexible access.

At the pinnacle, the VZ Club is a sanctuary of privilege, limited to one member each year. With a 1-million-pound entry fee and annual membership, this tier offers boundless, all-encompassing support from VZ Bespoke’s “black book” and a world of bespoke experiences and strategic introductions. Entry to any VZ Bespoke membership is by invitation or referral only, creating a highly curated, exclusive community.

Aligning with Vision 2030

As Saudi Arabia forges ahead with its bold Vision 2030, VZ Bespoke is set to be a driving force in the Kingdom’s remarkable transformation. “We’re not just delivering luxury services — we’re defining the future of opulence and exclusivity in Saudi Arabia,” said Zagatti. From ultra-exclusive tourism to cutting-edge solutions and innovation, VZ Bespoke is deeply aligned with the Kingdom’s ambitious vision, elevating every experience to new heights of sophistication.

Verdulli added: “Vision 2030 is the perfect marriage of ambition and opportunity. We’re thrilled to be part of this groundbreaking journey and are committed to reshaping what luxury means in Saudi Arabia, setting a new global standard.”

EY explores how economic expansion drives tax transformation in KSA

Updated 10 November 2024

Arab News

November 10, 2024 17:19

EY explores how economic expansion drives tax transformation in KSA

Updated 10 November 2024

Arab News

November 10, 2024 17:19

EY hosted the KSA Annual Tax and Zakat Seminar 2024 in Riyadh, Jeddah and Alkhobar to guide Saudi businesses in navigating the Kingdom’s evolving tax landscape. The latest edition of the event provided an overview of the significant developments in the Saudi tax system that have taken place over the last 12 months as well as the expected changes that are likely to be introduced in the country’s tax laws and regulations.

The seminar leveraged the knowledge and practical experience of EY’s senior Saudi tax experts, supported by the company’s regional and global leaders. A panel of experts were assembled for the event to provide various insights to help participants achieve an optimal tax position whilst remaining compliant in response to the market trends and tax developments. The participants discussed best practices and the issues they are facing as taxpayers.

The sessions covered all taxes that are currently imposed in Saudi Arabia, including direct and indirect taxes as well as sustainability-related considerations. Topics discussed also included the long-awaited tax rules for regional headquarters, issued by the Zakat, Tax and Customs Authority in February 2024, which grants a 30-year tax incentive to multinational companies that establish their RHQs in Saudi Arabia.

The agenda also explored the initial public offering journey from a tax perspective and examined the intricacies of setting up a proper tax function, highlighting the role of tax technology, such as automation and AI. EY has a robust AI strategy in place to augment the services it provides to address the dynamic challenges of the modern world. The strategy reflects the company’s unwavering commitment to creating new value for its clients and empowering them to shape the future with confidence.

Asim Sheikh, a Saudi tax market segment leader at EY, said: “At EY, we realize that organizations thrive on certainty. As taxes across the region become more complicated and diverse, businesses must keep a laser focus on defining the internal procedures which get them the right results. The insightful interactions at our Annual Tax and Zakat Seminar seek to help our existing and potential clients mitigate tax risks arising from non-compliance while maximizing opportunities, such as tax reliefs and benefits. We want to make sure that taxpayers feel comfortable in terms of fulfilling their obligations. The event also aims to drive home the message that tax must assume a strategic importance in the organization to avoid any potential surprises and that it must be viewed as seriously as any other business function.”

As the largest economy and the only G20 country in the Middle East, Saudi Arabia has a highly advanced tax system. The Kingdom’s tax landscape is evolving in line with its Vision 2030, especially with regard to its goal of diversifying the economy away from hydrocarbons, which requires creating an enabling environment for foreign investment. ZATCA is proactively working to bring the three C’s — clarity, certainty and consistency — into the tax regulatory environment. ZATCA has issued new guidelines that make the application of the rules easier for taxpayers. Meanwhile, fundamental changes are being proposed to existing legislation to align it with international standards in areas such as base erosion and profit shifting pillar 2 as well as minimum taxation.

EY’s flagship Annual Tax and Zakat Seminar in Saudi Arabia is complemented by a series of targeted webinars throughout the year to address the latest changes to the Kingdom’s tax and zakat laws.

Earlier this year, EY announced the relocation of its regional headquarters to Riyadh in support of Saudi Vision 2030. By positioning its regional operations in the heart of the Kingdom, the company seeks to enhance service delivery, leverage local talent and foster closer collaboration with clients and stakeholders in the region.

Line Investments & Property sweeps 21 awards at MECS+R MENA 2024

Updated 10 November 2024

Arab News

November 10, 2024 12:23

Line Investments & Property sweeps 21 awards at MECS+R MENA 2024

Updated 10 November 2024

Arab News

November 10, 2024 12:23

Line Investments and Property SP LLC, a subsidiary of LuLu International Holding, has announced its outstanding success at the MECS+R Shopping Center and Retailer Awards 2024. The company’s portfolio of malls earned a total of 21 prestigious awards, solidifying its leadership in the retail and property management industry across the MENA region.

These awards highlight the company’s dedication to excellence in innovation, design, customer engagement, and sustainability within its shopping destinations. Each local and regional accolade reflects the strategic efforts by Line Investments and Property to enhance the shopping and lifestyle experience for millions of visitors.

Gogi George, general manager of projects and leasing at LuLu International Holding, Oman, said: “The MECS+R regional accolades underscore our steadfast commitment to delivering world-class projects that merge global standards with regional relevance. We are proud of our accomplishments and will continue striving for excellence in every aspect of our developments.”

Nemil Nazeer, general manager of LuLu International Holding, Saudi Arabia, said: “Receiving such significant recognition on a regional scale validates our strategic vision and hard work. It reinforces our commitment to creating sustainable and innovative retail environments that uphold the highest standards of quality and customer satisfaction.”

Sanju Philip, commercial executive at LuLu International Holding, Qatar, added: “The MECS+R awards are a powerful acknowledgment of our relentless drive to establish new benchmarks in the industry. It is inspiring to see our collaborative efforts recognized, and we remain dedicated to delivering excellence and innovation across all our projects, particularly in the dynamic retail landscape of the GCC countries.”

Praveen C. Y., CSM, CAMP, general manager of shopping mall management, Bahrain, said: “The MECS+R awards underscore our dedication to crafting vibrant and inclusive retail spaces that resonate with our diverse community. This recognition reflects our team’s commitment to elevating the shopping experience in Bahrain, and we look forward to continuing our journey of innovation and excellence in every project.”

Awards won by Line Investments and Property

Gold Winner Award

Sustainability Excellence Award — Sustainability efforts at Forsan Central Mall
Marketing Excellence Awards — Treasure hunt, Al-Wahda Mall

Silver Winner Award

Sustainability Excellence Award — Al-Khor Mall, Qatar
Design and Development Award — Al-Falah Central Mall
Marketing Excellence Awards — Operation Smile, Al-Wahda Mall
Marketing Excellence Award — Slow Cycle Race, Mushrif Mall
Marketing Excellence Award — Sustainability efforts at Forsan Central Mall
Marketing Excellence Awards — Motorshow, Al-Wahda Mall
Marketing Excellence Award — Bramayugam movie trailer launch, Al-Wahda Mall
Sales Promotions — Food Fiesta Season 2, Mushrif Mall
Marketing Excellence Award — Mall Millionaire 3.0, Line Investments and Property
Marketing Excellence Award — Food Fiesta 2.0, Mushrif Mall
Marketing Excellence Award — Line Investments and Star Cinema, Line Investments
Marketing Excellence Award – Indoor Family Run, Silicon Central
Marketing Excellence Award — Petting Zoo, Sharjah Central
Marketing Excellence Award — Celebrate Eid with Cocomelon, Silicon Central Mall
Marketing Excellence Award — RAK Mall Cup, Badminton Tournament and Sports Bash
Marketing Excellence Award — Science Show, Lulu Mall Fujairah
Marketing Excellence Award — Hala Taxi Collaboration, Silicon Central Mall
Marketing Excellence Award — Winter Glow, Silicon Central
Marketing Excellence Award — Nutri Fest, Lulu Mall Fujairah

Chalhoub Group hosts skincare experts in Riyadh event

Group President of Chalhoub Group Patrick Chalhoub at the opening of The Skincare Edition: Unfiltered event in Riyadh.

Updated 10 November 2024

Arab News

November 10, 2024 00:13

Chalhoub Group hosts skincare experts in Riyadh event

Updated 10 November 2024

Arab News

November 10, 2024 00:13

Chalhoub Group hosted “The Skincare Edition: Unfiltered” in Riyadh, in collaboration with Hia Hub 4.0, from Oct. 30 to Nov. 3. The event took place at the bustling JAX district, offering an unparalleled skincare experience featuring immersive workshops, insightful panel discussions, and live demonstrations.
The five-day program featured both professional and B2C talks, offering deep insights into personalized skincare. Attendees had the opportunity to learn directly from experts through panels and interactive sessions designed to transform skincare routines and ideologies. During the summit, Chalhoub Group unveiled the findings from its intelligence report on “Gen Z’s Skincare Evolution in GCC.”
Featured speakers and panelists included a lineup of dermatologists, experts and industry leaders, including Chairman of Shiseido EMEA Franck Marilly, MD of L’Oréal Middle East Laurent Duffier, CEO of Waldencast Michel Brousset, Founder and CGO of Waldencast Hend Sebti, Group President of Chalhoub Group Patrick Chalhoub, Regional Managing Director of Sephora Middle East Hasmik Panossian, VP Retail Commercial and Business Development EMEA of Estée Lauder Companies Henk van der Mark, Managing Director of Faces Beauty ME Nicole Nitschke, and Group President of Finoli Pierre Juhen, among others.
Leading tech companies discussed the latest innovations in skincare, with contributions from Anna Germanos, group director of CPF, retail, e-commerce and luxury, META; Hala Zgeib, head of luxury, MENA Snap Inc.; and Aref Yehia, head of retail and e-commerce, TikTok.
Global researchers and experts such as Jennifer Palmer, senior vice president, global skincare category and brand scientific authority strategy of Estée Lauder Companies, and Dr. Annie Black, international scientific director of Lancôme, also shared insights.
Visitors also attended engaging sessions with their favorite creators like Noor Stars and an inspiring panel featuring Yara Namlah and Amani Al-Ayed on “Generational Beauty: Inheriting Skincare Wisdom.” Another insightful session was “Facial Fitness: A Skincare Masterclass with Face Gym Founder Inge Theron,” where Inge talked about her journey as a founder and on facial fitness. The event featured brand experiences that encompassed all aspects of skincare, including wellness. Visitors explored the “Wellness Hub” by L’Occitane and “Skincare Nation” by Faces to enhance their skincare journey.
The event also feature unique workshops such as “Decoding Skincare with The Ordinary,” “Potential Has No Age by Shiseido,” “The Power of Science-backed Skincare and Beauty Tech with Lancôme,” “Discover The Guerlain Skincare Essentials With The Secret Of Facialist Gesture,” and “Unlocking The Secrets To Youthful, Radiant Skin.” The workshops offered attendees the opportunity to deep-dive into tailored skincare solutions.

Topics: Chalhoub Group

GFH and GWC join forces to develop logistics facilities

Razi Almerbati, CEO of GFH Capital, and Matthew Kearns, deputy CEO at GWC.

Updated 10 November 2024

Arab News

November 10, 2024 00:06

GFH and GWC join forces to develop logistics facilities

Updated 10 November 2024

Arab News

November 10, 2024 00:06

GFH Financial Group, a financial institution with a strong focus on the logistics sector, has signed a heads of terms agreement with Gulf Warehousing Company, one of the GCC’s top logistics providers. The collaboration will see GFH power GWC’s expansion plans by developing 200,000 square meters of Grade “A” logistics facilities across key locations in Saudi Arabia, including Riyadh, Jeddah and Dammam.
As part of the heads of terms, GFH will finance and oversee the development of these state-of-the-art logistics spaces, tailored to meet GWC’s specific operational requirements. GWC will lead the technical development of these facilities while being the anchor tenant once completed. GWC will leverage its expertise in logistics and supply chain solutions to ensure the facilities are optimized to serve the clients’ needs. This signing is part of GFH’s ongoing commitment to strengthening Saudi Arabia’s logistics infrastructure, which aligns with the Kingdom’s Vision 2030 objectives to diversify the economy and establish the country as a global logistics hub.

Our collaboration with GWC marks a significant step in advancing Saudi Arabia’s logistics infrastructure, says Razi Almerbati, Chief Executive of GFH Capital

Razi Almerbati, chief executive of GFH Capital, said: “Our collaboration with GWC marks a significant step in advancing Saudi Arabia’s logistics infrastructure. By combining GFH’s financial strength and focus on the logistics sector with GWC’s logistics prowess, we are confident this development will further cement Saudi Arabia’s position as a logistics leader in the region.”
Matthew Kearns, deputy CEO at GWC, said: “This heads of terms with GFH will open the horizon to tailored supply chain solutions that meet the increasing demand for high quality logistics solutions in the Kingdom of Saudi Arabia, further supporting the Kingdom’s Vision 2030. GWC is proud to deploy its logistics and supply chain expertise, offering world-class logistics solutions for clientele across the Kingdom.”
The heads of terms state that GWC will be responsible for operating the logistics facilities to serve its expanding client base across the Kingdom, incorporating cutting-edge technologies, highest sustainability standards and optimal operational infrastructure to meet the highest industry standards. The facilities will provide GWC with the capacity to manage and optimize its logistics operations efficiently, supporting the company’s growth and enhancing the country’s logistics capabilities.

Topics: GFH and GWC

SingleView showcases transformative open banking solutions

Photo: (@SingleViewCo)

Updated 10 November 2024

Arab News

November 10, 2024 00:00

SingleView showcases transformative open banking solutions

Updated 10 November 2024

Arab News

November 10, 2024 00:00

SingleView, a leader in fintech and open banking services, participated in the Seamless Saudi 2024 exhibition and conference, held at the Riyadh Front Exhibition and Conference Center from Oct. 22-24. The company highlighted its dedication to driving innovation in digital commerce through its cutting-edge open banking services.
During the event, SingleView announced two strategic partnerships with prominent industry players, namely Al-Dawaa Pharmacy and Lendo Saudi Arabia. These partners will leverage SingleView’s innovative platform to enhance their financial operations, marking a significant step in advancing their digital transformation across key sectors in Saudi Arabia. These partnerships reflect SingleView’s growing influence in the financial sector and its mission to support the acceleration of digital innovation.

HIGHLIGHT

During the event, SingleView announced two strategic partnerships with prominent industry players namely, Al-Dawaa Pharmacy and Lendo Saudi Arabia.

Abdulrhman Alarifi, chief executive of SingleView, said: “These collaborations highlight SingleView’s unwavering drive to redefine financial services in Saudi Arabia. By harnessing the power of open banking, we are not only transforming the financial landscape but also paving the way for a more innovative, inclusive, and digitally empowered future.”
Alarifi joined a keynote panel on Oct. 23, discussing Saudi Arabia’s journey in taking open banking from vision to reality and emphasizing its impact in driving forward financial advancements.
Eugene Williams, head of product at SingleView, captivated crowds with his presentation on the topic “Open Banking PIS: Why Should I Care?” delving into the importance of payment initiation services and how businesses can benefit from these advancements.
Headquartered in Riyadh, SingleView is a fintech company offering open banking and financial solutions. With partnerships established with all major Saudi banks, the company is dedicated to transforming financial services on a global scale.

Their mission is to empower businesses in every industry to drive profitability, enhance customer engagement, and achieve long-term success.

Topics: SingleView

Luxury redefined: VZ Bespoke committed to Saudi Arabia’s Vision 2030