Deutsche Bank woos global investors to Saudi Arabia

Alexander Wynaendts, chairman of Deutsche Bank’s supervisory board, speaks at the event, held in strategic collaboration with the Saudi Ministry of Investment.
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Updated 13 April 2025
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Deutsche Bank woos global investors to Saudi Arabia

Deutsche Bank, in strategic collaboration with the Ministry of Investment of Saudi Arabia under the “Invest Saudi” initiative, hosted the inaugural Deutsche Bank Expert Connections event on April 9-10 at the Four Seasons Hotel in Riyadh. This exclusive gathering underscores Deutsche Bank’s commitment to facilitating high-value investment opportunities for its global clients within the Kingdom, in alignment with the objectives of Saudi Arabia’s Vision 2030.

Led by Alexander Wynaendts, chairman of Deutsche Bank’s supervisory board, the two-day event convened 40 global ultra-high-net-worth clients, international investors, policymakers, and business leaders, to explore strategic investment opportunities across key sectors of the Saudi economy and forge impactful partnerships that drive economic diversification and sustainable growth.

Participants engaged in focused discussions and interactive sessions covering critical areas such as clean energy, mining, financial services, technology, tourism, housing, and real estate. Senior representatives from the Ministry of Investment, Public Investment Fund, Capital Market Authority, Ministry of Energy, Ministry of Tourism, and Ministry of Communications and Information Technology shared insights aimed at enhancing economic growth, attracting quality investments, and addressing challenges shaping the future of Saudi Arabia’s economy.

“As a trusted partner to Saudi Arabia, Deutsche Bank is dedicated to supporting Vision 2030 through strategic, long-term partnerships that contribute to Saudi Arabia’s ongoing economic transformation and resilience,” a statement said. “With a strong focus on wealth management, Deutsche Bank aims to connect global ultra-high-net-worth clients and family offices with the Kingdom’s rapidly growing investment landscape, providing tailored advisory services and unlocking new opportunities for growth.”

Jamal Al-Kishi, CEO for Middle East and Africa at Deutsche Bank, said: “Saudi Arabia is pursuing a uniquely ambitious program for social and economic development and diversification. We at Deutsche Bank are proud to support Vision 2030 by connecting our global clients with some of the most promising opportunities in the Kingdom. This forum reflects our long-term commitment and dedication to partnering with Saudi Arabia on its journey toward enduring economic growth. We are truly grateful for the tremendous support provided by the Ministry of Investment at all levels, without which we wouldn’t have been able to conduct this important event”

Celebrating its 20 years of local presence in the Kingdom next year, Deutsche Bank looks forward to deepening its collaboration with Saudi stakeholders, empowering its clients to actively participate in one of the world’s most attractive and dynamic investment destinations.


LuLu’s ‘British Food Week 2025’ shines a spotlight on prominent UK brands

Updated 22 May 2025
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LuLu’s ‘British Food Week 2025’ shines a spotlight on prominent UK brands

LuLu Retail has officially inaugurated “British Food Week 2025” across all its stores in Saudi Arabia, offering customers a week-long celebration of British products and exclusive in-store promotions. The event highlights the strong trade ties between Saudi Arabia and the UK, emphasizing the quality and heritage of British brands.

The launch ceremony took place at LuLu’s Diplomatic Quarter branch in Riyadh and was officiated by British Ambassador to Saudi Arabia Neil Crompton. He was joined by Shehim Mohammed, director of LuLu Hypermarkets Saudi Arabia, as well as senior representatives from the British Embassy and LuLu management.

Running until May 27, British Food Week 2025 features more than 3,438 British products representing 367 established and trusted UK brands. The diverse range includes fresh and frozen foods, dairy items, snacks, beverages, packaged groceries, and health-focused options such as organic and gluten-free products.

As part of this year’s campaign, LuLu has introduced 40 new items from seven leading UK brands, offering customers in Saudi Arabia exclusive early access to innovative products entering the market. This initiative reflects LuLu’s commitment to delivering high-quality international products through strong sourcing partnerships and seamless logistics.

Ambassador Crompton said: “I’m delighted to be part of the opening of British Food Week 2025 at LuLu. It’s wonderful to see so many familiar UK products available here in Saudi Arabia, from classic teas and cheeses to new innovations. Events like these remind us that trade is not just about numbers, but about people, tastes, and shared experiences. I thank LuLu for their continued support in bringing British products closer to Saudi consumers.”

Mohammed added: “British Food Week is one of our most anticipated events, and we’re proud to bring it back across all LuLu stores in Saudi Arabia. It’s a celebration of British quality and a reflection of our strong sourcing partnerships with UK suppliers. With the continued support of our logistics and packaging center in Birmingham, we’re able to ensure that a wide variety of British products reach our shelves smoothly and consistently, offering our customers the best of the UK every year.”

British Food Week 2025 is currently live across all LuLu outlets in the Kingdom, featuring exclusive promotions and a curated selection of premium British products.


SAB and HSBC to power Riyadh Air’s expansion across Mideast, Asia

Updated 22 May 2025
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SAB and HSBC to power Riyadh Air’s expansion across Mideast, Asia

Saudi Awwal Bank, one of the leading banks in Saudi Arabia, and HSBC, the global banking and financial services organization, have together been awarded the Middle East and Asia cash management mandate for Riyadh Air, Saudi Arabia’s digital native carrier, as it prepares to commence operations this year.

For more than 70 years, HSBC and SAB’s banking partnership has enabled clients in the Kingdom to grow domestically and expand internationally. 

Together, SAB and HSBC will work closely with Riyadh Air to provide an integrated and seamless cash management program to manage all payment and liquidity needs across the two regions. 

As a domestic house bank, SAB will oversee operations within Riyadh Air’s home market of Saudi Arabia when it begins operations, including facilitating payments and liquidity management. Additionally, SAB has been mandated as one of the acquirers for Riyadh Air’s e-commerce transactions, further enhancing the airline’s operational capabilities.

Simultaneously, HSBC will support Riyadh Air with its planned expansion in markets across the wider Middle East and Asia. The mandate will enable Riyadh Air to leverage HSBC’s award-winning payments solutions including Virtual Accounts, Omni Collect and automated sweeping solutions, ensuring efficient cash management and seamless liquidity across their international operations. 

Executives from SAB and HSBC joined Riyadh Air at its new head office at the GACA Campus on Airport Road, for a signing ceremony to mark the partnership. 

Yasser Albarrak, chief corporate and institutional banking officer at SAB, said: “We are proud to support Riyadh Air as it embarks on a journey to redefine aviation travel in the Kingdom. This partnership highlights our commitment to providing innovative banking solutions that empower groundbreaking projects in Saudi Arabia, ensuring that Riyadh Air can achieve its vision of transforming the travel experience.”

Adam Boukadida, CFO of Riyadh Air, said: “We are proud to be partnering with SAB and HSBC as we embark on our journey to revolutionize air travel. This collaboration will enable us to manage our financial operations effectively, ensuring a smooth launch and seamless service delivery.”

Kyle Boag, head of global payments solutions, HSBC Middle East, North Africa and Turkiye, said: “Connecting clients across the world is at our core. This mandate underscores HSBC’s world-leading payments solutions, our expertise in the aviation sector and our commitment to Saudi Arabia’s growth. As the largest international bank across Asia and the Middle East, we will provide Riyadh Air with seamless cash solutions as they take flight to new markets.”


PIF strengthens leadership with key appointments

Updated 21 May 2025
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PIF strengthens leadership with key appointments

PIF announced the appointment of Saad Alkroud as head of the local real estate investment division. Alkroud has served as chief of staff since 2021. This move follows the appointment of Aiman Al-Mudaifer as managing director and chief executive of NEOM. Maram Al-Johani has been named acting chief of staff, in addition to being appointed as secretary-general to the PIF board of directors.

In his new role, Alkroud will be responsible for developing PIF’s local real estate and infrastructure investment portfolio, which includes the giga-projects and several other strategic developments.

Alkroud joined PIF in 2016 as head of stakeholder management, overseeing PIF board and committees affairs and international relations, as well as managing relationships with Saudi entities to deliver strategic initiatives and objectives. In 2021, he was appointed as chief of staff, and in 2022, he took on additional responsibilities as secretary-general to the PIF board of directors. In that position, he supervised corporate strategy and business plans, PIF’s project management office, including the establishment of new companies, and the affairs of PIF’s portfolio companies, stakeholders and committees. He also serves on the boards of several PIF companies.

Meanwhile, Al-Mudaifer has led the local real estate investment division since 2018, helping to drive significant growth and transformation. As of 2023, the portfolio included more than 35 real estate companies, with investments in Saudi real estate and infrastructure continuing to deliver sustainable returns. The advancement of and investment in landmark developments and infrastructure projects have helped position PIF at the forefront of Saudi Arabia’s economic diversification, including the creation of tourism and cultural destinations. Al-Mudaifer has served as the acting CEO of NEOM since November 2024 and is a board member of several PIF portfolio companies.

In her new role, Al-Johani will lead organization-wide strategic planning, data and committees governance, and the project management office. In addition, she will oversee portfolio company affairs and manage international and local stakeholders. Al-Johani joined PIF in 2017 after working for PricewaterhouseCoopers. She brings extensive experience to both roles, having served as PIF’s head of data and committees governance and advisory department since 2021.

These appointments reinforce PIF’s strong leadership foundation and support the delivery of its unique mandate and long-term strategy, within the organization and across its portfolio of more than 220 companies, to create opportunities for the global economy and drive the economic transformation of Saudi Arabia.


Bateel gives back to customers with new loyalty program

Updated 21 May 2025
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Bateel gives back to customers with new loyalty program

Bateel International has launched Bateel Rewards, the company’s loyalty program designed to offer exclusive benefits to its customers. Spanning across Bateel Boutique, Café Bateel, and El’an in both Saudi Arabia and the UAE, the program provides members with rewarding experiences across both online, app and in-store purchases and in cafes, adding an extra touch of appreciation.

According to recent market data, 84 percent of consumers say they are more likely to stick with a brand that offers a customer loyalty scheme. Bateel has accordingly introduced its loyalty program to ensure customers not only receive exclusive benefits but also meaningful engagement. The Bateel Rewards program is now live, reinforcing the company’s commitment to providing all customers with unparalleled value.

Bateel is always looking for new ways to enhance its customers’ experience, with innovation at the heart of everything it does. The brand’s loyalty program is a testament to this commitment, designed to go beyond just rewards and create a deeper, more personal connection with its valued customers.

Nurtaç Afridi, CEO at Bateel, said: “We wanted to give back to our loyal customers whose happiness is our biggest motivation. We want to ensure that every interaction with our customers is as rewarding as it is exceptional.”

Designed to integrate effortlessly with customers’ shopping journeys, Bateel Rewards offers a smooth omnichannel experience, allowing members to earn and redeem points both in-store and online. Whether visiting a Bateel Boutique, Café Bateel, Bateel El’an, or shopping via the Bateel online store, members enjoy the same seamless benefits.

Bateel Rewards is a three-tiered membership program designed to offer increasing benefits as customers engage with the brand via three options:

• Silver membership, where customers earn 10 percent back in points on their purchases.

• As they continue to shop, they progress to a Gold membership, earning 15 percent back in points.

• Customers ultimately reach Platinum status, where they receive 20 percent back in points.

Points can be accumulated and later redeemed for discounts on future purchases, ensuring that every interaction with Bateel is both rewarding and enjoyable.

The Bateel Rewards program is now live and free to download from the Apple Store or Google Play, reinforcing the company’s commitment to providing all customers with unparalleled value. The program will be rolled out to other countries where Bateel operates in the next phase.


Areeb Capital signs SR5.8bn financing agreement with SNB

Updated 21 May 2025
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Areeb Capital signs SR5.8bn financing agreement with SNB

Areeb Capital, a prominent real estate fund management company, announced signing a new financing agreement with the Saudi National Bank, worth SR5.8 billion ($1.5 billion). This agreement will enhance the company’s financing capabilities for its ambitious investment projects in the Saudi real estate market.

The agreement represents a strategic step that supports the company’s efforts to expand its investment portfolio and develop innovative real estate projects that meet the local market’s needs, contributing to lucrative returns for investors and strengthening its status as a leading asset management company in the real estate funds sector.

In a statement, Areeb Capital said that the deal reflects the confidence of prominent banks in the Kingdom, led by the SNB, in its efficient performance and ability to manage and implement remarkable investment projects, particularly in emerging real estate sectors.

Headquartered in Riyadh, Areeb Capital is a leading real estate asset management company with assets under management exceeding SR20 billion. The company targets institutions, family businesses, and high-net-worth individuals, offering Shariah-compliant investment opportunities based on a deep understanding of client needs and risk factors.

Regulated by the Saudi Capital Market Authority, the company provides innovative investment solutions that contribute to developing the real estate sector in the Kingdom.