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Bidaya launches new commercial real estate finance product – Arab News

Riyadh-based mortgage lender Bidaya Home Finance has announced its new commercial real estate finance product, which can be obtained through its digital platform. 
Bidaya’s new finance product constitutes an investment opportunity for a new segment of clients who want to diversify their investments to include residential and commercial buildings and lands in the Kingdom’s different regions. 
The product has been announced within the framework of the company’s digital system and through its electronic site, where all the company’s products can be obtained through three simple and easy steps. 
Commercial real estate finance is now considered one of the most in-demand types of finances as it offers diversified options to clients to help them make bigger revenues from ordinary residential buildings. 
Bidaya’s acting CEO Faisal bin Abdul Rahman Al-Nasser expressed his happiness over the launch of the new product, which he said “indicates the company’s keenness to diversify real estate products in general and expand the base of its clients through the provision of diversified investment opportunities to increase competition in the Saudi market as well as the company’s share of profits.” 
Al-Nasser said the product represents one of the main pillars of Saudi Vision 2030 as it facilitates investment opportunities in the Kingdom and the financing of housing projects and digital real estate, in line with the goals of the vision.
Bidaya Home Finance is the first mortgage lender in the Saudi market that offers all the digital housing and commercial finance products through its digital platform that serves all segments of clients. Bidaya’s team directly answers all the clients’ inquiries during official working hours through the company’s electronic site and its free phone line. Ever since its establishment in 2015, the company has offered Saudi nationals several home finance plans and a variety of products that are compatible with Shariah principles. The company’s list of shareholders includes a number of established corporations with wide experience in the Kingdom’s financial services sector. 
Bidaya is also supported by the Islamic Corporation for the Development of the Private Sector — a member of the Islamic Development Bank Group, the Public Investment Fund — the sovereign wealth fund of Saudi Arabia, in addition to a number of house financing corporations in the Kingdom.  
COFE App, an online coffee marketplace, recently announced the signing of an agreement with the Saudi Coffee Company. As per the agreement, COFE App will be the premium online partner for SCC, supporting them in amplifying their reach to coffee lovers in the Kingdom and beyond. This strategic partnership between COFE and SCC is aimed at propelling the Saudi coffee industry into the digital era, consequently empowering local producers to connect with end users with greater ease and convenience. 
The partnership between COFE App and SCC is set to propel the coffee e-commerce sector further, making Saudi-grown beans available to coffee lovers through COFE’s mobile app. Both companies are united in the purpose to transmit technology and knowledge to the Kingdom in a number of areas, including coffee production, roasting, marketing and sales, as well as all other activities, in order to promote the Kingdom as a frontrunner in the sector.
COFE App Founder and CEO Ali Al-Ebrahim said: “It is a proud moment for us at COFE to be working with SCC. We hope that this partnership will help in giving Saudi coffee the visibility and reach that it truly deserves. Through our work in Saudi, we hope to take this integral part of our culture and tradition to the world. I would also like to take this opportunity to thank everyone involved in making this possible. It is truly the beginning of something great.” 
The coffee platform has seen widespread acceptance from users in the Kingdom and was listed among the “Top 10 Most Downloaded Food Delivery and Restaurant Apps” (2021) in Saudi Arabia in a survey conducted by the country’s Communication and Information Technology Commission.
SCC is a Public Investment Fund company launched by the sovereign wealth fund of Saudi Arabia with a mandate to develop the Saudi coffee industry. SCC plans to invest more than SR1.2 billion ($319 million) in the national coffee sector over the next 10 years to increase annual output from 300 tons today to more than 2,500 tons by 2030. Saudi Arabia’s domestic coffee market was estimated to be worth $1.96 billion in 2021, and is expected to grow to $2.78 billion by 2025.
“It is a pleasure to be partnering with COFE App. Their passion for the cumulative growth of the coffee industry is very evident, and we are happy to say that they share both our vision and values. Coffee is a very integral part of Arabian culture and we wish for the world to witness it through our efforts. We hope that this partnership is the beginning of coffee lovers discovering the nuances of Saudi coffee and how it is ready to compete with some of the best producers in the world,” said Mohammed Zainy, marketing director of SCC.
As the Kingdom transforms into a digital economy with a focus on locally grown coffee beans, this might just be the next big thing in the evolution of the global coffee market. 
The 1st Fakeeh Care Annual Congress, the largest medical conference organized by a private healthcare provider in the Makkah region, took place from Dec. 17-22 at The Ritz-Carlton, Jeddah.
The six-day event included a number of activities. Day 1 comprised the grand opening ceremony of the congress and the announcement of winners of the various competitions organized by Fakeeh Care Group.
There were also booths displaying all the entities of Fakeeh Care Group, namely Dr. Soliman Fakeeh Hospital Jeddah, Dr. Soliman Fakeeh Hospital Riyadh, Fakeeh University Hospital Dubai, Dr. Soliman Fakeeh Medical Centers, Fakeeh College of Medical Sciences, KAUST Health, the Academic and Training Affairs, Advanced Horizon Contracting Company, MedE Ambulance Services, Fakeeh Technologies, Fakeeh Complementary Healthcare Company, Watch Me Grow Daycare and Fakeeh Vision.
The remaining five days of the annual congress consisted of a number of lectures, workshops and presentations on healthcare research and management, and communication skills. Topics included: Fakeeh Medical Symposium and Advances in Medical Care, The Emergence in Mental Health Issues and Rise in Addiction, Quality and Operations Efficiency in the Age of Disruption, The Effectiveness in Healthcare and Leadership, and The Fakeeh Home Healthcare Symposium.
The winners of the competitions are:
Dr. Soliman Fakeeh Award for Medical Research:
– First Prize: Dr. Norah Alharbi — SR175,000 ($46,530)
– Second Prize: Dr. Khalid Alsulaiman and Dr. Sarah Almazidi — SR62,500 each
– Third Prize: Dr. Mai Alalawi and Dr. Khalid Alhabib — SR37,500 each
Dr. Soliman Fakeeh Award for Innovation:
– First Prize: Dr. Tariq Altokhais — SR175,000
– Second Prize: Dr. Maha Alqahtani — SR125,000
– Third Prize: Dr. Khalid Almalki — SR75,000
Dr. Soliman Fakeeh Award for Health Promotion for students:
– First Prize: Eyas Farran — SR50,000
– Second Prize: Ola Zahran — SR40,000
– Third Prize: Mohammed Dowedri — SR30,000
– Fourth Prize: Nouf Almatrafi — SR20,000
– Fifth Prize: Mohammed Alamoudi — SR10,000
Dr. Soliman Fakeeh Award for Academic Program Director:
– First Prize: Dr. Ibrahim Alotaibi — SR20,000
– Second Prize: Dr. Hazem Fawzi — SR15,000
– Third Prize: Dr. Amr Keera — SR10,000
Dr. Soliman Fakeeh Award for Residents (Senior):
– First Prize: Dr. Amira Baradhwan — SR15,000
– Second Prize: Dr. Salwan Albakri — SR7,500
– Third Prize: Dr. Asim bin Salman — SR5,000
Dr. Soliman Fakeeh Award for Residents (Junior):
– First Prize: Dr. Abdulrahman Bahatheq — SR15,000
– Second Prize: Dr. Ahmad Khutri — SR7,500
– Third Prize: Dr. Ahmad Elyas — SR5,000
Schneider Electric, a global leader in the digital transformation of energy management and automation, has welcomed 22 Saudi graduates — nearly two-thirds of whom are women — into its Saudi Arabia Early Career Program for 2022. This is in line with the Kingdom’s Vision 2030 goals of supporting the empowerment of women and increasing their opportunities in the marketplace to enhance their position in society and by investing their energies and capabilities.
Now in its second year, the program for Saudis offers exciting career opportunities for fresh graduates and young professionals who can innovate at every level and build a future that empowers all to make the most of their energy and resources in order to create the Kingdom’s future sustainability leaders.
In 2021, Schneider Electric hired 15 Saudi graduates, half of which were women engineers, as part of the cohort. The number of Saudi graduates on the program this year nearly doubled, while the number of women joining the program has more than doubled to 13.
Early Career Program candidates have the opportunity to join Schneider Electric full-time and are inducted on a one-month orientation to gain a comprehensive understanding of the company’s various departments, divisions and projects.
The Saudi nationals are from King Saud University, King Fahd University of Petroleum and Minerals, Effat University, King Abdulaziz University, Umm Al-Qura University and other universities inside and outside the Kingdom. They studied varied disciplines including electrical engineering, IT and cybersecurity, industrial engineering, computer sciences, electrical and computer engineering, and mechatronics engineering.
As a diverse, inclusive and equitable global company, we are delighted to see the number of young professionals joining our Early Career Program grow as it returns for its second year.
Nahla Akhdar, Schneider electric’s HR Vice President for Saudi Arabia and Yemen
“As a diverse, inclusive and equitable global company, we are delighted to see the number of young professionals joining our Early Career Program grow as it returns for its second year,” said Nahla Akhdar, Schneider Electric’s human resources vice president for Saudi Arabia and Yemen. “It marks another milestone for Schneider Electric in our efforts to create new opportunities for Saudi youth to join the private sector and contribute to the growth of vital STEM industries in the Kingdom.”
Early Career Program candidates have the opportunity to join Schneider Electric full-time and are inducted on a one-month orientation to gain a comprehensive understanding of the company’s various departments, divisions and projects. Based on their assessment and identified capabilities, they are assigned to positions within the business, so they help others to make the most of their energy and resources.
Schneider Electric places Saudization at the forefront of its hiring strategies. The annual Early Career Program pioneered by the company in Saudi Arabia is aligned with the Human Capability Development Program and the overarching Vision 2030, which is designed to equip and empower Saudi citizens with the required capabilities to compete in a global and local market.
Saudi female-led nonprofit organization AlOula hosted a fundraiser on Dec. 16-17, under the theme “Weddings from Around the World,” at the Lazurde Ballroom of Park Hyatt Jeddah.
AlOula is the first registered nonprofit in Saudi Arabia, which aims to break the cycle of poverty by empowering low-income families and working on positively developing the children of Jeddah, enhancing their educational, professional and physical skills to achieve self-actualization.
The fundraising event generated proceeds that will go to support various skills development programs for the youth.
The fundraising event generated proceeds that will go to support various skills development programs for the youth.
The festival showcased traditional wedding ceremonies from the Hijaz region of Saudi Arabia as well as included performances themed around different countries such as India, Yemen, Palestine, Indonesia, Turkiye and Morocco. The master of ceremony was TV announcer Dr. Yara Al-Muhtadi.
The event was supported by the passionate ladies community of Jeddah, and provided a platform for cultural exchange and celebration built upon the love of giving back to society. Women were able to enjoy a weekend full of culture and tradition in a luxurious setting by the seaside.
Dania Almaeena, CEO of AlOula, said: “We are so humbled and grateful for all the overwhelming and continuous support we have received from our sponsors, volunteers and attendees. A special thanks to all the performers and AlOula’s amazing team for the two spectacular nights filled with lots of culture, love and giving.”
Rua Al-Madinah Holding participated in the Madinah Projects Exhibition “Medex” 2022 as an official partner. The expo was held under the patronage of Madinah Gov. Prince Faisal bin Salman at King Salman International Convention Center in Madinah from Dec. 19-21.
Medex is the first-of-its-kind event in the region to showcase an assortment of investment opportunities and major development projects in various sectors, actively promoting and highlighting the adequacy of the city’s investment infrastructure.
Seeking to encourage the public and private sectors to participate in the region’s overarching development, the expo included panel discussions about the region and the city’s future, detailing reasons for industries to involve themselves in achieving its comprehensive and effective development.
Expressing the company’s pride to be involved in the expo as a sponsor, Ahmad Al-Juhani, chief executive of Rua Al-Madinah Holding, said: “The event critically highlighted the development projects and investment opportunities available in the region and underlined the ongoing civil transformation occurring across the region, which sets precedence for public-private collaboration and the ease of reaching key decision-makers.”
It is the generous patronage of the Madinah Governor, added Al-Juhani, which emphasizes the Saudi leadership’s keen interest in developing the region to enrich the experiences of visitors, as the Kingdom’s leadership aspires to see the city host at least 30 million pilgrims and visitors by the year 2030.
At the event, the company showcased the masterplan of its namesake project, currently under development in the area east of the Prophet’s Mosque.
Several agreements were signed with public agencies and private companies to fast-track work on the Rua Al-Madinah project, which aims to upscale the services provided to pilgrims in a city that is a prime, modern-day cultural destination for Muslims.
The project adopts modern urban planning methods, industry-leading development concepts, and a state-of-the-art infrastructure framework with innovative services, to improve the quality of life in the city and ensure that its residents and visitors have everything required in the way of convenience and well-being. In recognition of the long-withstanding values of better services and a better experience, greater hotel capacity and quality utilities will be extended across the area of the project, all while providing as many as 93,000 direct and indirect employment opportunities in diverse industries.