AIMED INVESTMENTS
Tech investment is the way of the future in Saudi Arabia, and local companies are taking the lead in pouring cash into ambitious digital projects.
Wadi Jeddah is the investing arm for King Abdulaziz University, so the priority is to serve this historic institution by linking the qualifications and capabilities of the university with Saudi market demand. Therefore, our strategy is in maximizing KAU's capabilities and qualification while getting the best utilization in the market. As a result of Vision 2030, the job market is changing quickly, but the education sector cannot transform as fast as the job market. As such, our strategy is to fill this gap to leverage the readiness of the students to fulfill the requirements of the job market in addition to their education. IT is everywhere now, playing a major role in every sector of the economy. It has become the main tool for any development. Realizing this fact, Wadi Jeddah has established MACTECH, which is a company specialized in IT. With MACTECH, Wadi Jeddah will start to be part of the information revolution. The impact of IT on the economy will be dual. IT will enhance the current processes and create new markets. For example, at present, in the banking sector, you cannot imagine a bank without IT. Moreover, e-commerce, e-health, and e-learning are entirely new fields produced by IT. At the same time, business opportunities in Saudi Arabia are everywhere. Our short-term goal is to build 100% trust with the decision-makers at KAU. We will achieve that by taking well-thought-out actions.
In the past two years, we have started restructuring the Wadi Makkah Company and renewing its strategy. We are also rebranding all subsidiaries and programs to align with the Kingdom's 2030 Vision. The Tilal Al Namaa subsidiary, as it used to be called, has now become Wadi Makkah Real Estate Company. The company oversees development projects and manages assets and leases. Our target is to lease 50% of the allocated techno-valley lands for major investment by the end of 2020. The master plan includes a commercial aspect that is rich in retail, recreational offerings, and IT infrastructure, including a data center. In addition to the techno-valley, we managed to lease an 8,000sqm central canteen and a 20,0000sqm women driving school. Hajj and Umrah services can benefit enormously from digitalization, and so can education, logistics and hospitality sectors. We are looking to maximize our investment in IoT, Big Data analytics, crowd management, environmental technology, travel services, health tech, fintech, navigation, and transportation services. We believe that implementing these technologies should turn Mecca into a smart city. It will positively enrich and improve the Hajj journey. Our focus will remain on startups and companies around the world that can serve Hajj and Umrah, because the market is sustainable and the growth potential is high, especially given the government's plan to welcome 30 million pilgrims by 2030.
We make investments. Recently, we invested in fast-charging electric vehicles. We invested in Fastned, a Dutch company working with stations on highways close to major European cities. At present, it is concentrated in the Netherlands, but it has plans to expand into Belgium, Germany, and other countries. We invested a large amount of money into that company using a certain amount of equity. We are aiming to be prepared to be in line with the government's green plans, of which electric vehicles are a vital aspect. Most of the projects are related to recreation, innovation, and providing interaction between venues. In line with our 2030 Vision, we want to be innovative and creative. As a result, the three areas in which we invest are all relevant to Saudi Arabia. We want to be enablers in the health and life sciences fields, bringing tech-based solutions to help society combat problems such as obesity and diabetes. To this end, we have made an investment in partnership with our partners, not for hardware but for a process, like a hub. We put money into a company called Global Silicon Valley Labs. By doing so, we own shares in many accelerators and incubators worldwide. We also get access to their expertise and teams. In collaboration with our partners, we plan to replicate the hubs in the US here in Saudi Arabia.
AIMED INVESTMENTS
TABLE OF CONTENTS
Interview
Mohammed A. Al-Mowkley , Deputy Minister of Water Services, Ministry of Environment, Water, and Agriculture & CEO, National Water Company (NWC)
NWC leads the Kingdom's efforts to preserve water as a non-renewable national resource and drastically reduce the average per capita water consumption.
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Majed H. Al Saadi , Managing Director, Priority Projects Office (PPO), Local Content and Government Procurement Authority
PPO and ECA act as an accelerator for the realization of Vision 2030 by bridging the gap between the private and public sectors and helping the government diversify the economy in the long run.
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HRH Princess Hala bint Khaled bin Sultan Al-Saud C, Chairman, Saudi Law Conference (SLC) organizing committee & Founder,, Burhan Almarifa
Burhan Almarifa is focused on maturing the legal sector, encouraging innovation, and enabling research and development in KSA through knowledge transfer and consultancy.
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Sahel N. Abduljauwad, Rector, King Fahd University oF Petroleum & Minerals (KFUPM)
The King Fahd University of Petroleum & Minerals has long been the backbone of Saudi Arabia's formidable drilling expertise. Today, it is working to train the next generation of renewable energy and water management scientists.
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Dr. Abdullah Al-Rubaish, Rector, Imam Abdulrahman bin Faisal University (IAU)
Dr. Abdullah Al-Rubaish was appointed vice president of KFU in 2007 and president in 2010. He combined his executive experience from serving in various deanships at KFU with academic practices to become associate professor of medicine and work as a medical consultant at the Department of Internal Medicine. He graduated from KFU's College of Medicine and completed his medical internship at KFHU, where he also pursued a fellowship program. He became a member of the UK Royal College of Physicians and the Arab Board after he completed his sub-subspecialty in Pulmonary Medicine at the University of Alberta, Canada.
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Rajaa Moumena, Founder & President, Future Institute of Higher Education and Training
Saudi Arabia is allowing women more privileges, including driving and becoming ambassadors. The Future Institute of Higher Education and Training is trying to help by providing courses they need to adapt to this new world.
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