Riyadh Emerges as Global Hub for Purpose-Driven Investment

Updated 43 sec ago

October 02, 2025 23:03

��ֱ��’s capital is emerging as a global reference point for responsible wealth stewardship. Today, visionary investors Genia Xasis, chief executive officer and partner, and Christopher Aw, chief investment officer and partner, announced the launch of Berkana — a Riyadh-based investment alliance designed to redefine how capital is deployed, not just for returns but for generational impact.

Structured as a circle of influential families and financial leaders from ��ֱ��, the Gulf, Dubai and London, Berkana aligns with the ambitions of Vision 2030, catalyzing three key shifts:

From passive ownership to informed stewardship.
From charitable giving to measurable impact.
From opportunistic deals to purpose-led capital strategies.

As part of its strategic roadmap, Berkana has identified five priority sectors aligned with its mission and ��ֱ��’s national transformation goals:

Affordable housing: Addressing access to quality living and urban growth
Climate technology: Innovations in renewable energy, carbon reduction and sustainability
Water supply and preservation: Technologies and infrastructure ensuring water security
Food and Agriculture Technology: Scalable innovation driving transformation across industries
Healthcare and life sciences: Solutions improving access, efficiency and longevity

“Riyadh embodies the spirit of leadership that inspires action. It is a place where men and women are equally encouraged to lead, innovate and invest with vision. For me, this city is more than a home — it is a compass. Berkana reflects the confidence, openness and ambition that Riyadh is now projecting onto the world.” said Genia Xasis, Berkana’s co-founder.

Christopher Aw, Berkana’s chief investment officer and partner, said: “This is not only about capital; it is about responsibility. Berkana’s framework is a reference point for how investment can shape economies and societies for generations to come.”

Berkana will launch through a series of private roundtables and strategic briefings in Riyadh, Dubai and London, with select opportunities for media engagement. The initiative is already in discussions with regional family offices, sovereign platforms and institutional investors to embed its model across key financial ecosystems.

Al-Futtaim BYD KSA unveils SHARK 6 — ��ֱ��'s first-ever plug-in hybrid pickup

Updated 02 October 2025

October 02, 2025 18:10

Al-Futtaim BYD KSA unveils SHARK 6 — ��ֱ��'s first-ever plug-in hybrid pickup

Updated 02 October 2025

October 02, 2025 18:10

Al-Futtaim BYD KSA, the official distributor of BYD, a global tech leader and pioneer in New Energy Vehicles, has launched the highly anticipated BYD SHARK 6, ��ֱ��'s first-ever plug-in hybrid pickup.

As the global pickup market expands, the SHARK 6 arrives as a game-changing addition, seamlessly blending commercial utility with premium passenger comfort.

Positioned as a premium, versatile lifestyle vehicle, the BYD SHARK 6 is engineered to meet the evolving demands of modern drivers.

It leverages BYD’s pioneering PHEV technology, combining the convenience of traditional refueling with the high performance, efficiency, and sustainability of electric propulsion.

This innovative approach aligns with the objectives of Saudi Vision 2030, supporting a cleaner and more diversified energy future.

"The launch of the BYD SHARK 6 Super Hybrid marks a pivotal step in redefining mobility in the Kingdom," said Jerome Saigot, managing director of Al-Futtaim BYD in KSA.

"It’s more than a vehicle, it’s a statement of power, innovation, and sustainable progress. With the SHARK 6, we’re delivering not just a drive, but a lifestyle built for the future," he added.

This landmark launch represents a significant milestone in ��ֱ��'s automotive landscape, reinforcing BYD’s commitment to innovation and long-term investment in the Kingdom.

At the heart of the SHARK 6 is the DMO Super Hybrid Off-road Platform, an in-house innovation by BYD that delivers nearly 430 horsepower, equivalent to a 4.0L V8 engine, through an intelligent electric four-wheel drive system.

This dual-mode architecture eliminates range anxiety while enabling exceptional performance across both off-road and urban environments.

The SHARK 6 also sets a new standard for vehicle architecture and safety. It features BYD’s Cell to Chassis technology, integrating the ultra-safe BYD Blade Battery directly into the high-strength steel frame.

This design increases torsional stiffness, enhances battery protection in harsh off-road conditions, and allows for a flat rear floor, significantly improving passenger space and ride comfort.

The premium driving experience is further elevated by a double-wishbone independent suspension on both the front and rear, a feature typically found in luxury SUVs, which provides exceptional comfort and agility.

Furthermore, with its electric-driven mode covering over 80% of typical driving conditions, the SHARK 6 achieves an industry-leading NVH (noise, vibration, and harshness) level for a near-silent and serene journey.

Technologically advanced, the SHARK 6 is equipped with a 540° panoramic view camera, offering full visibility of surroundings and undercarriage. The vehicle-to-load function transforms the pickup into a mobile power station, ideal for powering tools at a worksite or appliances during outdoor activities like camping or grilling.

The launch event was held at Riyadh Arena and brought together media representatives, influencers, customers, and sub-dealers for an exclusive first look at BYD’s cutting-edge hybrid technologies.

Looking ahead, BYD KSA is preparing to unveil even more models, expanding its portfolio of innovative electric vehicles tailored to meet the evolving needs of the Kingdom’s market. This commitment is part of BYD’s global vision to accelerate the transition to new energy mobility through continuous technological advancement.

The all-new BYD SHARK 6 is available for customers in ��ֱ�� starting Oct. 1.

WETEX 2025: L&T showcases Saudi and GCC renewable projects

Updated 02 October 2025

October 02, 2025 17:53

WETEX 2025: L&T showcases Saudi and GCC renewable projects

Updated 02 October 2025

October 02, 2025 17:53

Larsen and Toubro, a global player in engineering and sustainable infrastructure, showcased its renewable energy and power projects at the Water, Energy, Technology and Environment Exhibition 2025, held from Sept. 30 to Oct. 2 at the Dubai World Trade Centre. L&T presented its advanced solutions in solar, wind, and energy storage, underscoring its commitment to supporting the region’s clean energy transformation in line with national visions, including ��ֱ��’s Vision 2030. L&T is also the platinum sponsor of the annual event that serves as a platform for industry professionals from more than 60 countries worldwide to connect and collaborate.

The company is playing a central role in major renewable initiatives across the GCC, including large-scale solar parks in ��ֱ�� and the Mohammed bin Rashid Al-Maktoum Solar Park in Dubai. With one of the world’s largest renewable EPC portfolios, the company provides end-to-end hybrid solutions covering solar PV, battery storage, and wind with advanced grid integration capabilities. Leveraging cutting-edge engineering and digital technologies, L&T has delivered more than 35+ GWp of solar plants, 16 GWh of battery energy storage systems, and 444 MWp of floating solar plants.
T. Madhava Das, whole-time director and senior executive vice president (utilities), L&T, said: “L&T is committed to supporting the foresightedness and definitive actions of the leadership of countries and enterprises in the Middle East by bringing in advanced capabilities for global energy transition. With our all-round capabilities in dispatchable renewable generation, power T&D and digital solutions, we are confident of delivering ultra-mega projects to fuel the futuristic ambitions of the region.”
With a track record of having constructed more than 375 substations and 6,500 circuit-km of transmission lines, L&T continues to strengthen the region’s power grid, executing several mega projects involving high-voltage substations and transmission lines linking new or consolidating existing power zones.
The company is also building sustainable water infrastructure across the GCC, with a proven track record of more than 10 major projects worth over $1 billion in the UAE, Oman, and Qatar. Notable achievements include the Jebel Ali Sewage Treatment Plant in Dubai, the country’s largest wastewater treatment facility with a capacity of 375 million liters per day, and the Ad Dakhiliyah water transmission project in Oman, comprising 173 km of pipelines, 15 reservoirs totaling 440,000 cubic meters, and five pumping stations.
Visitors to L&T’s pavilion at WETEX 2025 explored interactive displays, including a BIM ARENA, a digital showcase of L&T’s 3D modeling and project management capabilities, and other advanced tools for sustainable infrastructure planning and execution.

LuLu grows Saudi footprint with new Taif store

Updated 02 October 2025

October 02, 2025 13:05

LuLu grows Saudi footprint with new Taif store

Updated 02 October 2025

October 02, 2025 13:05

Strengthening its footprint across the Kingdom, LuLu Retail officially opened its 70th store in ��ֱ��, located in the suburban area of Taif. This store marks a significant milestone in LuLu’s expansion strategy and demonstrates its ongoing commitment to the Saudi retail market.
The new LuLu Hypermarket was inaugurated by Abdullah bin Khamis Al-Zaidi, mayor of Taif, in the presence of Nasser Huwaiden Thaiban Ali Alketbi, consul general of the UAE in Jeddah; Fahad Ahmed Khan Suri, Indian consul general in Jeddah; and Yusuffali M.A., chairman of LuLu Group.
Also present on the occasion were Ashraf Ali M.A., executive director of LuLu Group; Mohamed Haris Puthiyaveettil, director of LuLu ��ֱ��; Noushad Madathiparambil Ali, regional director of LuLu western region, ��ֱ��; and other senior officials.
The opening not only represents a strategic retail development but also aligns with ��ֱ��’s Vision 2030 by supporting community growth and job creation.
“We are proud to support ��ֱ��’s Vision 2030 by expanding our retail footprint across the Kingdom,” said Yusuffali. “This new hypermarket is designed to enhance the shopping experience for the people of Taif while contributing to local economic development and providing employment opportunities for the community.”
The new hypermarket covers an impressive 195,770 square feet, offering a wide range of products and services under one roof. Shoppers can enjoy a supermarket, fresh food section, Lulu Connect electronics, a fashion store, a department store, BLSH beauty products, and Eye Express optical services. The store also features an upgraded food court to meet modern consumer needs.
To ensure convenience, the store includes six self-checkout counters and approximately 500 parking spaces. The launch was accompanied by attractive introductory offers across various product categories.
“This expansion reflects LuLu’s commitment to delivering quality products and services while supporting the Kingdom’s broader economic and social development objectives,” a statement said.
During the inauguration ceremony, Yusuffali also acknowledged the efforts of LuLu’s staff members who contributed to the making of the shattered glass art in Alkhobar that won a Guinness World Record and presented a memento to them. This artwork, created as the official emblem for the Saudi National Day celebrations, was a tribute to the Kingdom.

ALJ Motors and Toyota celebrate 70 years of success

Updated 01 October 2025

October 01, 2025 17:15

ALJ Motors and Toyota celebrate 70 years of success

"It is the spirit of trust and challenge that we must carry into the next 70 years with Abdul Latif Jameel Motors." said Koji Sato, president and CEO of Toyota

Updated 01 October 2025

October 01, 2025 17:15

Abdul Latif Jameel Motors, the authorized distributor of Toyota vehicles in ��ֱ�� since 1955, celebrated seven decades of achievements with Toyota Motor Corporation in a landmark event. The longstanding relationship is committed to providing world-class mobility, socioeconomic progress, and supporting ��ֱ��’s ambitious development journey.

The event was held at Hussein Jameel Hall in Jeddah and was attended by key figures from ALJ Motors and Toyota as well as associates that have contributed meaningfully to the milestone. Hassan Jameel, vice chairman, Abdul Latif Jameel, ��ֱ��, and Koji Sato, president and CEO of Toyota Motor Corporation, shared the stage as keynote speakers.

The partnership between ALJ Motors and Toyota began with an order of just four Toyota BJ all-terrain vehicles, the precursor to today’s legendary Toyota Land Cruiser, laying the foundation for a relationship that would connect people, commerce, and opportunity across ��ֱ��.

Jameel said: “For 70 years, Abdul Latif Jameel Motors has been proud to serve our enduring collaboration with Toyota Motor Corporation, a relationship built on a shared commitment to innovation, quality, and service. Today, we thank Toyota Motor Corporation for its belief in this market, and we thank all those in our community who have made this journey possible as the frontline of guest trust and the daily ambassadors of quality. As we look to the future, we see our journey as just beginning. We remain dedicated to enabling a cleaner, smarter, and more inclusive mobility ecosystem that serves the people of ��ֱ�� and contributes to the transformative ambition of Vision 2030.”

Sato said: “Looking back on our history, there is one thing that is very clear. It is the spirit of trust and challenge that we must carry into the next 70 years with Abdul Latif Jameel Motors. That spirit has been and will continue to be the cornerstone of our partnership. Our Chairman Akio Toyoda often tells us ‘We are all successors. Our founders turned zero into one. In honor of their determination, as successors, we must take on challenges.’ With this mindset, I would like us to continue moving forward in harmony, like a pair of wheels on a car, making ever-better cars and serving customers in every way, together. On this 70th anniversary, with gratitude for the vision and passion of those who came before us, let us stand united and commit ourselves to taking on the challenges ahead.”

Through the relationship with Toyota, ALJ Motors has been able to help drive innovation in mobility through many initiatives in the Kingdom. In recent years, these included launching a trial of the Toyota Mirai as part of a taxi fleet in Jeddah, supporting Makkah’s second hydrogen fuel cell bus trial with the Caetano H2.City Gold, and collaborating with King Abdullah University of Science and Technology to advance hydrogen fuel cell research in ��ֱ��. Additionally, in 2024, ALJ Motors surpassed 100,000 Toyota hybrid vehicle sales in ��ֱ��, underscoring its commitment to delivering low-carbon transport solutions and advancing the goals of Saudi Vision 2030.

The relationship between ALJ Motors and Toyota continues to evolve to meet ��ֱ��’s dynamic mobility needs by advancing technologies, empowering communities, and supporting sustainable economic growth in the Kingdom.

The partnership between ALJ Motors and Toyota began with an order of just four Toyota BJ all-terrain vehicles, laying the foundation for a relationship that would connect people, commerce, and opportunity across ��ֱ��.

Kuwait Fund helps countries build low-carbon economy

Updated 30 September 2025

September 30, 2025 09:42

Kuwait Fund helps countries build low-carbon economy

Updated 30 September 2025

September 30, 2025 09:42

The Kuwait Fund for Arab Economic Development, the first institution in the Middle East that took an active role in international development efforts, plays multiple roles and carries out important practices aimed at preserving the environment. It gives considerable attention to projects that support the transition toward green energy, making the environmental sector one of its current priorities, in light of global efforts and determination to address climate change.

Climate change has become one of the most pressing challenges facing the international community today, and finding solutions has become a priority for all countries, given its negative impact not only on the environment but on all aspects of life — from changing weather patterns and threats to food production, to rising sea levels and catastrophic floods, as well as the increasing exploitation of Earth’s natural resources. These factors threaten climate stability and lead to the extinction of many species. Addressing this problem requires joint efforts and cooperation to achieve the 17 sustainable development goals for 2030 launched by the UN to improve global living conditions within the next 15 years.

A low-emission economy

The Kuwait Fund continues its contributions regionally and internationally to safeguard the environment and natural resources. It encourages countries to implement projects that protect natural resources and the environment by financing development projects designed to reduce greenhouse gas emissions. It also helps countries build low-carbon economies by replacing fossil fuels with renewable energy sources, ensuring sustainable energy supplies for future generations through the efficient use of limited resources — thus contributing to the achievement of sustainable development goals.

Multiple environmental projects

Below are key environmental projects financed by the Kuwait Fund, aimed at preserving the environment and reducing harmful emissions:

Budi Ganga Hydropower Project (Nepal):

The fund contributed 5 million Kuwaiti dinars ($16 million) to finance the “Budi Ganga” hydropower plant in Nepal. The project promotes social and economic development by increasing electricity generation capacity. It is located in the Ashlam and Bajura districts along the Budi Ganga River, a main tributary of the Seti River, about 830 km from Katmandu.

Cross-border sand and dust storm adaptation and resilience project:

In cooperation with UN-Habitat, the fund financed a project with a grant of 4 million Kuwaiti dinars ($12.8 million) to reduce the occurrence of sand and dust storms originating from southern Iraq that directly affect Kuwait and neighboring countries. The project addresses the climatic, geological, and chemical causes of dust storms to provide a safer and cleaner environment for current and future generations.

Wind energy project in Jordan:

As part of supporting alternative energy initiatives, the fund managed a Kuwaiti grant to finance development projects in Jordan, including a wind power project in Ma’an, with a contribution of $135.5 million. The project aims to meet the growing demand for electricity, reduce reliance on fossil fuels, and lower environmentally harmful emissions.

Merowe Dam Project (Sudan):

The fund extended three loans totaling 62 million Kuwaiti dinars ($198.4 million) for the Merowe Dam project on the Nile in Sudan. The project was designed to meet electricity demand and reduce production costs through the construction of a dam and hydroelectric station.

Commitment to sustainable development

An overview of the fund’s projects across multiple countries — especially in the electricity generation sector — reveals its firm commitment to supporting initiatives that conserve natural resources and protect the environment. Its financing of such projects is a true reflection of sustainable development goals pursued by the international community, as they aim to cut greenhouse gases, reduce hydrocarbon burning, enhance energy efficiency, and promote a shift to clean fuels and renewable energy — ultimately reducing harmful emissions.

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