Bateel expands into South Korea with luxury boutique

Bateel expands into South Korea with luxury boutique
The boutique opened doors in mid-November at the prestigious Lotte World Mall and marks a pivotal moment in Bateel’s global growth strategy.
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Updated 09 December 2024
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Bateel expands into South Korea with luxury boutique

Bateel expands into South Korea with luxury boutique

Saudi luxury F&B brand Bateel International, renowned for its gourmet delights, has announced its expansion into Asia with the opening of its first boutique in Seoul, South Korea. The outlet opened in mid-November at the prestigious Lotte World Mall. This milestone marks a pivotal moment in Bateel’s global growth strategy, bringing its collection of premium organic dates, single-origin chocolates and gourmet products to a discerning audience in one of Asia’s most vibrant markets.

After years of evaluating international markets, Bateel identified South Korea as a prime destination for its boutique expansion. With a sophisticated consumer base that values health-conscious, trendy products, Seoul presents the perfect market for Bateel’s offering of organic and filled dates, artisanal chocolates and luxurious packaged gift sets. The location in Lotte World Mall, adjacent to the entrance of the renowned viewing deck, mirrors the brand’s successful presence at Dubai Mall, where Bateel boutiques attract thousands of global visitors.

“We are thrilled to enter the South Korean market,” said Bilal El-Kurjie, senior commercial director at Bateel. “Our presence in this key market allows us to bring the unique Bateel experience to new customers, starting with this iconic location at Lotte World Mall.” 




Bilal El-Kurjie, senior commercial director at Bateel International

The new boutique, larger than some of Bateel’s flagship stores in Saudi Arabia and the UAE, will offer the full Bateel experience. Customers will enjoy an extensive range of premium products, including Bateel’s organic dates, high-end single-origin chocolate collection, and bespoke packaging options, designed to cater to both local tastes and the international tourist market.

In addition to the boutique, Bateel plans to introduce its new Bateel El’an concept, a modern café format, in early 2025. This next phase will elevate Bateel’s presence in South Korea, offering dine-in, takeaway, and delivery options that showcase Bateel’s signature culinary excellence.

Central to Bateel’s expansion strategy is its commitment to sourcing the highest-quality ingredients globally. This dedication, paired with a focus on sustainability, aligns with the growing demand for responsibly sourced luxury products in South Korea.

“This expansion is the start of a new chapter for Bateel in Asia,” El-Kurjie added. “We have ambitious plans underway and look forward to further expanding our presence, starting with Seoul and soon moving into markets like Singapore.”

Bateel has established a strong global presence in more than 29 countries, with luxury boutiques and cafés in premium destinations across the GCC, Europe, and Asia.


Aramco-backed fintech Stake first platform to enable Saudi real estate investments from outside Kingdom

Yazeed Aldowayan, chief operating officer at Alrajhi Seventh, and Hanouf bin Saeed, general manager of Stake Saudi.
Yazeed Aldowayan, chief operating officer at Alrajhi Seventh, and Hanouf bin Saeed, general manager of Stake Saudi.
Updated 09 December 2024
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Aramco-backed fintech Stake first platform to enable Saudi real estate investments from outside Kingdom

Yazeed Aldowayan, chief operating officer at Alrajhi Seventh, and Hanouf bin Saeed, general manager of Stake Saudi.

Stake, a leading global digital real estate investment platform in the Middle East and North Africa region, has announced their official launch in the Kingdom. As the first platform regulated by the Capital Market Authority to afford individuals outside of the Kingdom the opportunity to invest into Saudi real estate, Stake is set to transform the investment landscape in the Kingdom.

In partnership with prominent developer Al-Rajhi Seventh, or RJ7, Stake has carefully selected an income-generating commercial building located in North Riyadh for its inaugural fund on the platform. As part of its launch, Stake has partnered with Mulkia Investment Company, a leading Saudi asset management firm. The collaboration focuses on establishing private real estate funds tailored for the Saudi market. These funds, managed by Mulkia and distributed through Stake’s digital platform, aim to lower the barrier to entry and make real estate investing into quality assets more accessible. Together, Stake and Mulkia will offer a robust pipeline of real estate opportunities, ranging from residential to commercial properties, all aligned with Vision 2030’s economic transformation goals.

Stake empowers investors with digital access to curated, Shariah-compliant real estate investments starting from as little as SR500 ($133) via its app. With a mission to democratize real estate ownership, Stake has already built a global community of over 800,000 users. Saudi Arabia’s dynamic and rapidly expanding economy plays a pivotal role in Stake’s strategic decision to enter the market. The Kingdom is forecasted to grow by 4.6 percent in 2025, making it one of the fastest-growing economies among G20 nations.

“Saudi Arabia is a cornerstone of Stake’s vision to redefine real estate investment,” said Manar Mahmassani, co-founder and co-CEO at Stake. “The Kingdom’s thriving economy and Vision 2030 initiative align perfectly with our mission to provide inclusive and borderless access to high-potential property markets. By entering Saudi Arabia, we are inviting investors worldwide to participate in its exciting growth story.”

At the helm of Stake’s Saudi operations is Hanouf bin Saeed, a financial industry veteran with over 17 years of experience. Her remarkable track record includes driving Riyad Bank’s non-bank financial institutions portfolio growth from SR1 billion to SR12 billion during her tenure. bin Saeed said: “Stake’s vision is revolutionary. By creating an ecosystem of trust and innovation, we are enabling individuals to build wealth like never before. I am honored to lead this mission in Saudi Arabia and look forward to shaping the future of real estate investment in the Kingdom.”

In June, Stake announced a $14 million Series A funding from top-tier investors like Aramco’s Wa’ed Ventures, one of Saudi Arabia’s largest VC’s, Mubadala Investment Company, Abu Dhabi’s Sovereign Investor and Al-Jomaih Holding, one of Saudi Arabia’s largest family conglomerates. Earlier this year, Stake was named as one of the top startups in 2024 by LinkedIn, and listed in the 2024 Top 100 Global Fintech list by CB Insights.

Stake is poised to redefine real estate investment in the Kingdom and beyond. The platform’s innovative approach to real estate ownership, transparency, and accessibility has the potential to bring about a change in how investors interact with property markets.


Redefining wealth management: The Family Office launches goal-based investing platform

Redefining wealth management: The Family Office launches goal-based investing platform
Updated 09 December 2024
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Redefining wealth management: The Family Office launches goal-based investing platform

Redefining wealth management: The Family Office launches goal-based investing platform

The Family Office, a leading wealth management firm in the GCC, has launched its new goal-based investing platform Financial Goal, which is designed to revolutionize how individuals plan, manage, and achieve their financial aspirations.

With the complexities of modern investing, Financial Goal offers an innovative solution that aligns investments with personal financial objectives, ensuring a structured and focused approach to wealth management. It equips investors with the tools they need to define clear financial goals, such as buying a home, funding education, planning for retirement, or leaving a legacy, and to develop personalized strategies to achieve them.

Key features of the platform include:

  1. Goal setting: Define one or multiple financial objectives with specific timelines, importance levels, and target amounts.
  2. Comprehensive financial insights: Input assets, liabilities, income, and expenses to gain a clear picture of your financial position.
  3. Real-time projections: Track progress with advanced features like wealth projections, risk-return analysis, and goal trackers.
  4. Tailored investment strategies: Receive customized portfolio recommendations aligned with your goals, risk tolerance, and investment horizon.

Unlike traditional investing, which prioritizes market performance or returns, the goal-based investing platform Financial Goal shifts the focus to achieving specific life milestones. By using advanced tools and leveraging The Family Office’s 20 years of expertise in private market investments, users can confidently align their financial decisions with their aspirations.

Abdulmohsin Al-Omran, founder and CEO of The Family Office, said: “This platform represents a significant step forward in our commitment to empowering individuals with a personalized and strategic approach to wealth management. We believe that financial planning should not just be about numbers, it’s about achieving the life goals that matter most to our clients.”


New Murabba unveils ESG & decarbonization strategies

New Murabba unveils ESG & decarbonization strategies
Updated 08 December 2024
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New Murabba unveils ESG & decarbonization strategies

New Murabba unveils ESG & decarbonization strategies

New Murabba, a Public Investment Fund company, has announced the launch of its environmental, social, and governance and decarbonization strategies, coinciding with International ESG Day, observed on Nov. 30. These strategic frameworks reinforce New Murabba’s commitment to sustainable development and align with the Kingdom’s Vision 2030.

New Murabba’s comprehensive decarbonization strategy charts a clear path toward a low-carbon future, echoing the goals set out in the Saudi Commitment to Carbon Neutrality by 2060 and the PIF’s pledge for operational net-zero emissions by 2050. This approach aligns seamlessly with the ambitious targets of the Saudi Green Initiative, which seek to significantly reduce greenhouse gas emissions, champion renewable energy adoption, optimize energy efficiency, utilize low-carbon materials, and embrace circular economy principles.

Developed through extensive collaboration with employees, stakeholders, and leadership, New Murabba’s ESG strategy underscores its dedication to responsible and sustainable practices. The strategy outlines clear objectives and actions across three core pillars:

• Environment: minimizing environmental impact through initiatives such as carbon footprint reduction and responsible resource management.

• Social: creating a positive social impact by fostering diversity, equity, and inclusion, prioritizing worker well-being and safety, and upholding strong ethical standards.

• Governance: strengthening corporate governance through robust risk management, transparency, accountability, and responsible leadership.

“We’re proud to launch our ESG and decarbonization strategies, marking a significant milestone in our journey toward creating a sustainable urban destination,” said Michael Dyke, CEO of New Murabba. “Our decarbonization strategy is a testament to our dedication to supporting the Kingdom’s vision for a carbon-neutral future by 2060. New Murabba is committed to leading by example, demonstrating how responsible development can drive positive change for both our community and the planet. We are confident that these strategies will enhance our environmental performance and create long-term value for our investors and stakeholders.”

New Murabba’s dedication to ESG principles and decarbonization strengthens confidence among stakeholders who prioritize sustainable and impactful development. The project’s proactive approach to sustainability positions it as an attractive prospect for those seeking long-term value and positive environmental and social outcomes.

The strategies are intrinsically linked to the UN’s Sustainable Development Goals, supporting key goals such as SDG 11 (sustainable cities and communities) and SDG 13 (climate action).

 By prioritizing sustainability in every facet of its design and operation, New Murabba will serve as a model for responsible urban development, inspiring similar initiatives across the Kingdom and beyond.


SADAFCO, Hyperview partner for sustainable transportation

SADAFCO, Hyperview partner for sustainable transportation
Updated 08 December 2024
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SADAFCO, Hyperview partner for sustainable transportation

SADAFCO, Hyperview partner for sustainable transportation

Saudia Dairy and Foodstuff Company, known as SADAFCO, and Hyperview Logistics Company, owned by Hyperview Mobility (Shanghai) Company Ltd., have signed a non-binding groundbreaking memorandum of understanding to drive the adoption of hydrogen-powered logistics in Saudi Arabia. This collaboration marks a significant step toward achieving sustainable transportation and aligns with the goals of Saudi Vision 2030.

The partnership is currently in discussions to explore the possibility of testing hydrogen-powered trucks in the Kingdom.

SADAFCO described it as a testament to the company’s commitment to reducing its environmental impact and embracing innovative technologies. SADAFCO aims to achieve a zero-carbon fleet by 2045, with plans to have 90 percent of its fleet powered by clean energy by 2035. This initiative complements its ongoing efforts to test and integrate electric trucks in the Middle East. By collaborating with Hyperview, a leader in hydrogen mobility, SADAFCO is poised to redefine logistics operations in Saudi Arabia with zero-carbon solutions.

Dr. Feilong Liu, CEO of Hyperview Mobility, said: “This collaboration with SADAFCO is an exciting opportunity to showcase the potential of hydrogen-powered transportation in one of the world’s most dynamic markets. Together, we aim to set new benchmarks for sustainable logistics.”

Brian Strong, chief transformation officer of SADAFCO, added: “SADAFCO is proud to partner with Hyperview in advancing our zero-carbon fleet strategy.”

This initiative underscores our commitment to sustainability and innovation, paving the way for a cleaner, greener future.”

SADAFCO is a leading producer and distributor of high-quality dairy and food products in Saudi Arabia. With a strong focus on sustainability, SADAFCO is committed to implementing innovative solutions that reduce environmental impact.

Meanwhile, Hyperview Mobility is a global leader in hydrogen-powered transportation technologies. With cutting-edge solutions and expertise in hydrogen infrastructure, Hyperview is committed to enabling a sustainable future.


PIF’s Folk Maritime launches new service route

 Connecting Arabian Gulf ports enhances regional connectivity and international markets.
Connecting Arabian Gulf ports enhances regional connectivity and international markets.
Updated 08 December 2024
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PIF’s Folk Maritime launches new service route

 Connecting Arabian Gulf ports enhances regional connectivity and international markets.

Folk Maritime Services Company, a Public Investment Fund company and one of the region’s emerging leaders in providing regional liner and feeder services, has launched a new service route connecting key Arabian Gulf ports, including Dammam, Umm Qasr, and two of India’s largest commercial ports, Nhava Sheva and Mundra.

The India Gulf Express Service had its first Dammam call on Oct. 30, by m/v Asterios, a modern 1,800 TEU container vessel. The vessel carried imported cargo from India before proceeding to Umm Qasr. The service, which initially began as a 14-day service, will gradually ramp up to become a weekly call by December.

The new route follows the launch of the India Red Sea service in September. Both routes serve to strengthen trade ties with India, facilitating the movement of consumer goods, petrochemicals, and other essential commodities, reinforcing the growing “friend-sourcing” partnership between Saudi Arabia and India. Connecting Arabian Gulf ports enhances regional connectivity and international markets, focusing on Asian, African, and European trade corridors.

Dammam ranks among the top 10 ports in the Middle East, handling 2.7 million TEUs annually, making it a vital player in both regional and global supply chains.

Poul Hestbaek, chief executive of Folk Maritime, said: “We are excited to introduce our first service to the Arabian Gulf, which fills a critical gap in the logistics supply chain and supports our mission to connect ports, industries, and world-leading liners. Opening this route aligns with Vision 2030 to position Saudi Arabia as a leading logistics hub. It strategically places Dammam, a key player in meeting the Vision 2030 goal, as a logistics hub center and marks a significant milestone for Folk Maritime as the first Saudi company to offer this service.”

Kim Larsen, chief commercial officer of Folk Maritime, added: “We are focused on expanding our service routes to meet the evolving needs of our customers. The launch of the India Gulf Express Service is a major achievement for us as a company as it improves our range of coverage and provides our customers with more solutions.”

Folk Maritime is the first Saudi company to provide comprehensive connectivity in the region, covering all of the Kingdom’s ports. Through these new routes, the company is committed to delivering reliable, efficient, and strategically important maritime services to meet the growing demands of global trade.

Since its launch, Folk Maritime has established four unique new routes, each supported by dedicated vessels, exemplifying rapid growth and operational agility. This most recent expansion of Folk Maritime’s services further positions Saudi Arabia as a global logistics hub, facilitating regional and international trade and contributing to the Vision 2030 goals of economic diversification.