Ƶ

Aramco-backed fintech Stake first platform to enable Saudi real estate investments from outside Kingdom

Yazeed Aldowayan, chief operating officer at Alrajhi Seventh, and Hanouf bin Saeed, general manager of Stake Saudi.
1 / 2
Yazeed Aldowayan, chief operating officer at Alrajhi Seventh, and Hanouf bin Saeed, general manager of Stake Saudi.
Aramco-backed fintech Stake first platform to enable Saudi real estate investments from outside Kingdom
2 / 2
Short Url
Updated 09 December 2024

Aramco-backed fintech Stake first platform to enable Saudi real estate investments from outside Kingdom

Yazeed Aldowayan, chief operating officer at Alrajhi Seventh, and Hanouf bin Saeed, general manager of Stake Saudi.

, a leading global digital real estate investment platform in the Middle East and North Africa region, has announced their official launch in the Kingdom. As the first platform regulated by the Capital Market Authority to afford individuals outside of the Kingdom the opportunity to invest into Saudi real estate, Stake is set to transform the investment landscape in the Kingdom.

In partnership with prominent developer Al-Rajhi Seventh, or RJ7, Stake has carefully selected an income-generating commercial building located in North Riyadh for its inaugural fund on the platform. As part of its launch, Stake has partnered with Mulkia Investment Company, a leading Saudi asset management firm. The collaboration focuses on establishing private real estate funds tailored for the Saudi market. These funds, managed by Mulkia and distributed through Stake’s digital platform, aim to lower the barrier to entry and make real estate investing into quality assets more accessible. Together, Stake and Mulkia will offer a robust pipeline of real estate opportunities, ranging from residential to commercial properties, all aligned with Vision 2030’s economic transformation goals.

Stake empowers investors with digital access to curated, Shariah-compliant real estate investments starting from as little as SR500 ($133) via its app. With a mission to democratize real estate ownership, Stake has already built a global community of over 800,000 users. Ƶ’s dynamic and rapidly expanding economy plays a pivotal role in Stake’s strategic decision to enter the market. The Kingdom is forecasted to grow by 4.6 percent in 2025, making it one of the fastest-growing economies among G20 nations.

“Ƶ is a cornerstone of Stake’s vision to redefine real estate investment,” said Manar Mahmassani, co-founder and co-CEO at Stake. “The Kingdom’s thriving economy and Vision 2030 initiative align perfectly with our mission to provide inclusive and borderless access to high-potential property markets. By entering Ƶ, we are inviting investors worldwide to participate in its exciting growth story.”

At the helm of Stake’s Saudi operations is Hanouf bin Saeed, a financial industry veteran with over 17 years of experience. Her remarkable track record includes driving Riyad Bank’s non-bank financial institutions portfolio growth from SR1 billion to SR12 billion during her tenure. bin Saeed said: “Stake’s vision is revolutionary. By creating an ecosystem of trust and innovation, we are enabling individuals to build wealth like never before. I am honored to lead this mission in Ƶ and look forward to shaping the future of real estate investment in the Kingdom.”

In June, Stake announced a $14 million Series A funding from top-tier investors like Aramco’s Wa’ed Ventures, one of Ƶ’s largest VC’s, Mubadala Investment Company, Abu Dhabi’s Sovereign Investor and Al-Jomaih Holding, one of Ƶ’s largest family conglomerates. Earlier this year, Stake was named as one of the top startups in 2024 by LinkedIn, and listed in the 2024 Top 100 Global Fintech list by CB Insights.

Stake is poised to redefine real estate investment in the Kingdom and beyond. The platform’s innovative approach to real estate ownership, transparency, and accessibility has the potential to bring about a change in how investors interact with property markets.


ITA Airways expands global network with strategic growth in Middle East

ITA Airways expands global network with strategic growth in Middle East
Updated 21 July 2025

ITA Airways expands global network with strategic growth in Middle East

ITA Airways expands global network with strategic growth in Middle East

ITA Airways, Italy’s national flag carrier, continues its ambitious international expansion strategy by reinforcing its presence in the Middle East— one of the world’s fastest-growing aviation markets. With the recent launch of new nonstop routes to key destinations across the Gulf region, the airline is connecting Italy with high-potential international markets, supporting trade, tourism, and cultural exchange.

These new routes mark a significant step in ITA Airways’ long-term vision to establish Rome Fiumicino as a major intercontinental hub. Operated by the cutting-edge Airbus A321neo, the Middle Eastern routes offer passengers a refined travel experience with a three-class cabin configuration — Business, Premium Economy, and Economy. The aircraft also underscores ITA Airways’ sustainability mission, delivering over 20 percent lower fuel consumption and carbon emissions per seat, along with a 50 percent reduction in noise impact compared to previous-generation models.

Passengers flying to and from the Middle East benefit from seamless connections across ITA Airways’ growing network, covering Europe, the Americas, and North Africa, supported by optimized transit through Rome Fiumicino Airport.

Further enhancing the customer journey, ITA Airways recently unveiled its new premium Runway Lounge at Milan Linate Airport — an elegant space that embodies Italian design and excellence. Developed in collaboration with iconic Italian brands such as Campari Group, illycaffè, iGuzzini, and Poltrona Frau, the lounge offers a luxurious and uniquely Italian ambiance. To celebrate the launch, a fashion show curated by Italian label Silence Please featured designs inspired by ITA Airways’ intercontinental destinations, reinforcing the brand’s connection to Italian creativity and global elegance.

Commenting on the expansion, Jörg Eberhart, CEO of ITA Airways, said: “Our growing footprint in the Middle East is a clear reflection of our long-term commitment to building sustainable and meaningful connections between Europe and this dynamic region. ITA Airways is dedicated to providing a premium and authentically Italian travel experience, supported by a modern fleet and seamless global connectivity. These new routes go beyond commercial value — they represent a vision of smarter, more connected travel that brings people, cultures, and economies closer together.”

As part of its broader growth strategy, ITA Airways continues to invest in fleet renewal, aiming for 90 percent of its aircraft to be next-generation models by 2027 — making it one of the youngest and most environmentally responsible fleets in Europe. Backed by the Ministry of Economy and Finance of Italy and Deutsche Lufthansa AG, ITA Airways is steadily establishing itself as a key player in global aviation, driven by innovation, sustainability, and an unmistakable Italian style.


First-ever 5G SA indoor coverage trial held in Ƶ

First-ever 5G SA indoor coverage trial held in Ƶ
Updated 20 July 2025

First-ever 5G SA indoor coverage trial held in Ƶ

First-ever 5G SA indoor coverage trial held in Ƶ
  • Dr. Khalid Al-Mashouq, CEO of ACES NH, said: “With Nokia’s ready and innovative indoor portfolio we can give building owners a single, future-proof solution while operators gain rapid, capital-light expansion

Nokia, together with Ƶ’s Communications, Space and Technology Commission, local neutral host specialist ACES NH and service providers Mobily and Zain Saudi, has completed industry-first pilot deployment of 5G standalone indoor coverage using sharable indoor spectrum on the 4.0-4.1 GHz band and active sharing techniques. For the first time, every mobile operator in the Kingdom can deliver gigabit-class 5G inside low- to medium-traffic buildings through a single, cost-optimized system, eliminating the need for duplicate equipment and 4G anchors while cutting deployment costs by more than 60 percent. The proof-of-concept underscores how Nokia’s Shikra radio portfolio and multi‑operator core network software uniquely unlock spectrum-efficient, multi-operator 5G for private wireless and public networks alike.

FASTFACT

For the first time, every mobile operator in the Kingdom can deliver gigabit-class 5G inside low- to medium-traffic buildings through a single, cost-optimized system, eliminating the need for duplicate equipment and 4G anchors.

This innovative solution was recently recognized by the Small Cell Forum, receiving the Small Cells World Summit 2025 Award for “Outstanding Progress in Enabling Neutral Host and Multi-Operator Business Models.”

Sharable indoor spectrum gives stakeholders a powerful tool to boost indoor 5G adoption without complex auctions or spectrum refarming, says Mikko Lavanti, Senior VP for Mobile Networks, MEA at Nokia

Mobile data traffic per smartphone is projected to escalate from 29 GB per month in 2024 to 54 GB per month by 2030. Although 80 percent of mobile traffic is generated indoors, conventional distributed antenna systems often dedicate separate hardware and spectrum to each operator, driving up CAPEX and energy use. By using sharable indoor spectrum on the 4.0-4.1 GHz band in combination with 5G SA active sharing, the pilot demonstrates fair access for all operators while accelerating coverage in business districts, giga-projects, and public venues. Early cost modeling by Nokia and ACES shows a further 47 percent saving when 4G anchoring is removed, making 5G SA “greenfield indoor” sites commercially viable from Day 1.
Mufarreh J. Al-Nahari, deputy governor of studies and innovation at the Communications, Space and Technology Commission, said: “This collaboration demonstrates how innovative regulatory practices, vendor expertise and local partners can together deliver reliable, high-quality 5G for enterprises and consumers. We look forward to scaling the model across the Kingdom.”

Mikko Lavanti, senior vice president for mobile networks, MEA at Nokia, said: “Sharable indoor spectrum gives stakeholders a powerful new tool to boost indoor 5G adoption without complex auctions or spectrum refarming.

Our Shikra pico radios and true 5G SA active sharing software prove that one neutral host system can serve every operator with carrier-grade performance, cutting both cost and carbon emissions per gigabyte.”
Dr. Khalid Al-Mashouq, CEO of ACES NH, said: “With Nokia’s ready and innovative indoor portfolio we can give building owners a single, future-proof solution while operators gain rapid, capital-light expansion. It’s a win for everyone in the 5G ecosystem.”
Alaa Malki, chief technology officer at Mobily, said: “Enhancing customer experience and optimizing network performance in indoor environments are core to Mobily’s strategic priorities. Our active participation in this pioneering initiative reflects our commitment to driving innovation, operational efficiency, and scalable 5G solutions. By advancing shared infrastructure models, we are reinforcing Mobily’s leadership in shaping the future of telecommunications in the Kingdom and accelerating the realization of Ƶ’s digital transformation goals.”
Mohammed Al-Nujaidi, chief technology officer at Zain KSA, said: “Pioneering future-ready shareable network models that unlock scalable, high-performance connectivity is part of Zain KSA’s commitment to driving the evolution of Ƶ’s digital infrastructure. By enabling seamless digital access and significantly enhancing the customer experience, this initiative plays a pivotal role in advancing and accelerating the Kingdom’s digital transformation journey and smart infrastructure development for a knowledge-based society and digital economy.”
Nokia’s Shikra pico solutions for the 4.0 GHz band are compact, low-power remote radios that blanket multistory buildings with uniform mid-band 5G coverage. Leveraging 5G standalone MOCN active sharing, a single RAN and core slice can serve multiple operators at once, boosting spectral efficiency and streamlining operations. The platform is also private wireless ready: the very same infrastructure can host dedicated enterprise 5G cores, delivering secure Industry 4.0 and campus network services alongside public connectivity.

 


Huawei taps into MENA digital powerhouses to boost in-car content

The signing ceremony took place on the sidelines of the 2025 Huawei Developer Conference.
The signing ceremony took place on the sidelines of the 2025 Huawei Developer Conference.
Updated 20 July 2025

Huawei taps into MENA digital powerhouses to boost in-car content

The signing ceremony took place on the sidelines of the 2025 Huawei Developer Conference.
  • Anghami has a long-standing partnership with Huawei. In 2020, Anghami completed the integration of Huawei Mobile Services and collaborated with Huawei AppGallery to promote and expand the Middle East and Africa market

Huawei Consumer Cloud Services signed two MoUs with the Middle Eastern music streaming platform Anghami and the Arabic news platform Nabd, during the 2025 Huawei Developer Conference. These partnerships enrich the ecosystem capabilities of Huawei HMS for Car and provide localized informative and entertaining content service solutions for global automakers.
As the leading music streaming platform in MENA with more than 57 million tracks, Anghami brings strong regional expertise and deep understanding of local listening preferences. Through this new partnership, Anghami will now deliver its content via HMS for Car, helping automakers offer a rich and relevant in-car music experience tailored for the local market.
Anghami has a long-standing partnership with Huawei. In 2020, Anghami completed the integration of Huawei Mobile Services and collaborated with Huawei AppGallery to promote and expand the Middle East and Africa market. In 2021, Anghami developed and launched the HarmonyOS app for Huawei smartwatches in the MEA, and in 2025, it launched a new application version optimized for Huawei Watch 5.
With a user base of more than 32 million, Nabd has established itself as the preferred destination for Arabic content consumption. The platform provides an extensive range of features, including personalized news, live match scores, football schedules, real-time financial markets data, weather forecasts, live TV streaming, entertaining video feeds, e-commerce listings, and engaging word games. This cooperation with Huawei HMS for Car will provide localized content and multilingual services.
As a long-term partner of Huawei since 2021, Nabd has promoted the integration of the HMS media kit and supported ecosystem cooperation, while expanding brand coverage in the MEA through AppGallery.

At the HDC 2025, Huawei also unveiled HMS for Car MAAN 4.0, its latest innovation that allows web-based apps to work just as smoothly as native apps inside the vehicle. Paired with the new App Box development tool, it makes it easier than ever for partners like Anghami, helping them bring seamless, high-quality entertainment to connected vehicles around the world.

 


Al-Jomaih & Shell renews partnership with Yelo

Al-Jomaih & Shell renews partnership with Yelo
Updated 20 July 2025

Al-Jomaih & Shell renews partnership with Yelo

Al-Jomaih & Shell renews partnership with Yelo

Al-Jomaih and Shell Lubricating Oil Company has announced the renewal of its strategic partnership with Al-Wefaq Transportation Solutions, or Yelo, one of Ƶ’s top vehicle rental companies. The renewed agreement will ensure the continued supply of Shell’s premium lubricants to support Yelo’s rapidly growing fleet operations across the Kingdom. The agreement, signed in Riyadh, aligns with the goals of Saudi Vision 2030, which emphasizes innovation, sustainability, and sectoral growth in the Kingdom’s transportation and mobility industry.
This agreement reflects a shared commitment to the highest service standards, operational efficiency and fleet optimization. It also supports the performance of Yelo, which operates a fleet of more than 33,000 vehicles through a network of 90 car rental branches. Yelo relies on advanced, high-performance lubrication solutions to maintain vehicle quality, reduce downtime and enhance resale value, all core to the company’s customer promise and growth strategy.
Saher Hashem, CEO of Al-Jomaih and Shell Lubricating Oil Company, expressed his delight in extending the collaboration with Yelo, affirming that the company is a model of innovation and reliability in the mobility sector. He said: “This renewal reinforces the strength of our relationship and reflects our shared focus on sustainability, outstanding performance, and delivering long-term value through Shell’s leading lubrication technologies.”
Hamad Al-Humaid, CEO of Al-Wefaq Transportation Solutions, emphasized the importance of reliable partnerships in delivering an exceptional customer experience and maintaining fleet efficiency and performance quality. He said: “Our partnership with Al-Jomaih and Shell Lubricating Oil Company has consistently proven valuable in optimizing operational efficiency, reducing maintenance costs, and ensuring our vehicles are always in top condition.”

Shell lubricants play an important role in supporting our ambitious growth and commitment to excellence, and we look forward to building on this strong foundation.”

 


Lean teams up with Plug and Play to advance health innovation in Kingdom

Lean teams up with Plug and Play to advance health innovation in Kingdom
Updated 20 July 2025

Lean teams up with Plug and Play to advance health innovation in Kingdom

Lean teams up with Plug and Play to advance health innovation in Kingdom

As part of its ongoing efforts to expand international collaboration and accelerate innovation in the healthcare sector, Lean Business Services, a leading national enabler of digital health solutions and a Public Investment Fund company, has signed a strategic memorandum of understanding with global innovation platform Plug and Play, renowned for its startup acceleration programs. The agreement was signed during the official ministerial visit to the US led by Abdulaziz Al-Rumaih, vice minister of health.

The partnership will establish a scalable and sustainable health innovation ecosystem in Ƶ by launching acceleration programs for startups specializing in digital health and artificial intelligence, as well as creating innovation hubs that empower the next generation of health technologies across the Kingdom and the wider region. The MoU was signed at Plug and Play’s headquarters in San Francisco by Mohanned Alrasheed, CEO of Lean, and Saeed Amidi, CEO of Plug and Play.

Commenting on the collaboration, Alrasheed said: “At Lean, we believe that true innovation begins with building strong international innovation networks. Our partnership with Plug and Play marks a strategic step toward creating a fertile environment for health entrepreneurship in the Kingdom and driving digital solutions that can meet the future needs of healthcare, both locally and globally.”

Amidi added: “We’re incredibly excited about our partnership with Lean and the opportunity to showcase our shared vision to the world. Our teams will be working closely together to build something truly impactful that blends innovation, investment, and global collaboration to shape the future of healthcare and AI.”

As part of the visit, the delegation from the Ministry of Health and Lean met with leaders from major technology companies, including Apple and Google, to explore the latest advancements in smart health devices, AI-driven solutions, and health data analytics. The discussions focused on potential integration opportunities with Ƶ’s national healthcare systems.

The tour also included visits to leading startups specialized in accelerating drug discovery and early disease detection using AI. The delegation also visited Stanford Biodesign Labs to explore innovation support models in medical device design and biomedical engineering.

This milestone reflects Lean’s strong commitment to its role as a digital enabler in the health sector. It aligns with Ƶ’s Vision 2030 goals to build an innovative, sustainable, and innovation-driven healthcare ecosystem. Through global partnerships, Lean continues to lead digital transformation efforts, leveraging technology to deliver more efficient, human-centered, and high-quality health experiences to communities across the Kingdom.