Substantive Outcomes at ‘LEAP’ Int’l Conference in Saudi Arabia

“STC” and “Huawei” sign deal at LEAP conference in Riyadh, Saudi Arabia (Asharq Al-Awsat)
“STC” and “Huawei” sign deal at LEAP conference in Riyadh, Saudi Arabia (Asharq Al-Awsat)
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Substantive Outcomes at ‘LEAP’ Int’l Conference in Saudi Arabia

“STC” and “Huawei” sign deal at LEAP conference in Riyadh, Saudi Arabia (Asharq Al-Awsat)
“STC” and “Huawei” sign deal at LEAP conference in Riyadh, Saudi Arabia (Asharq Al-Awsat)

The inaugural edition of LEAP has set new records for a debut technology event, attracting over 100,000 registered attendees from more than 80 countries. Over 700 exhibitors including the world’s leading technology companies and over 1,500 of the most innovative start-ups, along with more than 500 international speakers joined LEAP22, making it the largest ever first edition for a technology event.

LEAP22, which concluded Friday in Riyadh, saw more than $6.4 billion of investments and new technology initiatives announced, with $1 million in prizes awarded to the winners of the Rocket Fuel Start-up Competition, an international contest to find the best new business ideas.

LEAP22 saw the announcement of multiple investments and funds for start-ups and entrepreneurs of over $266 million.

Among the announcements was the completion of closing of the second round of Khwarizmi Ventures fund with a value of $69.8 million; investment into the Emkan VC fund of over $49.8 million and the launch by Saudi Venture Investment Company of the Investment in Advanced Stage Funds, with a value of over $134 million, to promote the growth of start-ups.

A new partnership to build start-ups between Unifonic and TheSpaceKSA, called UnifonicX, was also unveiled.

Start-up deals included Nana closing an investment round led by FIM Partners and the STV Fund, worth $50 million; and Quant closing an investment round worth $800,000 led by VentureSouq with participation by RaedVC and Seedra, and also announced an additional round of investment.

Muzn Artificial Intelligence raised an investment round of $10.1 million, led by Raed Ventures with the participation of Shorooq Partners, VentureSouq, Sukna Ventures and others; while Taffi raised more than $1.8 million investment, and SIFI and Tamawal closed pre-seed rounds.

Start-ups from around the world went head-to-head in the Rocket Fuel Start-up Competition, promoting their innovative business ideas to powerhouse venture capitalists and leading international investors, to win a share of the $1 million prize fund.

Seven start-ups were victorious overall, taking home cash prizes for exciting and impactful new business ideas, scored on creativity, innovation, potential, functionality and impact on people and society.

Apple selected Riyadh for its first Apple Developer Academy headquarters in the Middle East and North Africa region. The academy caters solely to female programmers and developers and is located at the Princess Nourah Bint Abdulrahman University.

The Apple Developer Academy will play a significant role in building coding talent in Saudi Arabia and encouraging women to develop their skills and explore careers in this exciting new sector. Female participants have already enrolled at Apple’s Developer Academy in Riyadh.

Michael Champion, regional executive vice president – MEA, Informa, said LEAP22 is a breakthrough success, attracting the biggest audience for a technology event in recent years, surpassing CES, and setting a new record for most attendees to a new platform.

“LEAP22 has been able to bring to Riyadh the leading names in technology with the most exciting new start-ups and creators, to present cutting-edge innovations that will reshape the world around us.

“We would like to thank our world-class speakers, sponsors and partners and look forward to hosting an even bigger LEAP next year,” said Champion.



Diriyah Company Awards $600 Million Contract to Salini Saudi Arabia for 400 Retail Units

The heart of Diriyah reflecting 300 years of history and heritage (Asharq Al-Awsat)
The heart of Diriyah reflecting 300 years of history and heritage (Asharq Al-Awsat)
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Diriyah Company Awards $600 Million Contract to Salini Saudi Arabia for 400 Retail Units

The heart of Diriyah reflecting 300 years of history and heritage (Asharq Al-Awsat)
The heart of Diriyah reflecting 300 years of history and heritage (Asharq Al-Awsat)

Diriyah Company has awarded a major new $600 million contract for construction work on the high-profile Diriyah Square retail precinct to Salini Saudi Arabia, a subsidiary of the Webuild Group.

The square is located at the heart of Diriyah, the City of Earth, within the unique Najdi-inspired architectural Diriyah Masterplan.

It is designed to develop a vibrant retail district featuring a mix of 400 iconic retail, leisure, and dining brands.

The district will emphasize exceptional customer experiences, focusing on pedestrians and offering unparalleled shopping, dining, and living opportunities. Also, the square aims to pioneer the future retail and leisure landscape of the region.

This marks the third major involvement of the Webuild Group in helping to create the unique flagship retail environment in Diriyah.

Salini is already well advanced in constructing a 10,500-space car park beneath Diriyah Square, which will be among the largest in the world.

The car park will include bus stations, dedicated taxi and VIP drop-off areas, and an underground four-lane gyratory connecting the subterranean Masterplan, providing best-in-class vehicle access and customer parking experiences across Diriyah Square.

Salini is also nearing completion of the structural engineering for all above-ground Diriyah Square assets, including the retail spaces, hotels, branded residences, offices, and the Grand Mosque, according to Diriyah Company.

The contract for developing the retail district includes constructing 73 individual buildings and 400 shell-and-core retail units over a built-up area of 365,340 square meters, covering facades, finishes, and fit-outs of the units.

Every building will use traditional Najdi architectural design themes to create a unique pedestrianized retail environment in the heart of Diriyah reflecting 300-years of history and heritage.

Commenting on the latest contract award, Diriyah Company Group CEO Jerry Inzerillo said: “Diriyah Square is one of our most exciting, anticipated, and prestigious districts, and we are extremely pleased to have signed with Salini to deliver it, bringing their immense global experience to the table.”

“It is yet another significant milestone in our development journey and will help set the stage for Diriyah Square’s retail spaces to welcome a diverse array of shoppers from our residential communities, surrounding office spaces, and the millions who visit us every year,” he added.

Webuild CEO Pietro Salini said: “We are proud to contribute to a project of such symbolic and strategic importance to Saudi Arabia.”

“This will further strengthen our presence in the Kingdom and positively impact both the area and the local community,” he stated.

Salini also said: “We are excited about developing this new phase of Diriyah Square, an integral part of an iconic project. The Webuild Group has been present in Saudi Arabia since 1966, delivering more than 90 projects.”

He added that his company will remain committed to supporting the Kingdom in developing some of the world’s most complex infrastructure projects, particularly in areas such as civil buildings, sustainable mobility, and desalination.