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Estithmar Holding reports record results for H1 2025

Estithmar Holding reports record results for H1 2025
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Estithmar Holding reports record results for H1 2025
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Estithmar Holding reports record results for H1 2025

Estithmar Holding reports record results for H1 2025

Revealing an exceptional performance across all key financial metrics, Estithmar Holding Q.P.S.C. has announced its financial results for the six-month period ending June 30, 2025.

The company reported revenue of 3.07 billion Qatari riyals ($844 million), an 87 percent year-on-year increase. The gross profit soared by 134 percent to 1.05 billion Qatari riyals, while EBITDA rose 97 percent to 732 million Qatari riyals compared to H1 2024. The net profit reached 465 million Qatari riyals, up 97 percent year-on-year, while earnings per share doubled, reaching 0.13 Qatari riyals.

While Estithmar Holding continues its upward trajectory in its financial and operational indicators across all its financial disclosures, this remarkable leap in results for H1 2025 is mainly attributed to increased revenue through its international expansions across its four sectors in Ƶ, Iraq, Algeria, Libya, Maldives, Jordan, and Kazakhstan.

The company’s enhanced operational performance also underpinned an EBITDA of 732 million Qatari riyals, an increase of 97 percent, driven by disciplined financial and operational policies, which improved the profit margin.

“Our exceptional first half performance demonstrates the strength of our strategy. By focusing on value creation, sector leadership and disciplined capital allocation, we have delivered greater operational efficiency, robust revenue growth and margin expansion,” said Juan Leon, group CEO of Estithmar Holding.

He added: ”Sustained and balanced growth across our four clusters remains central to our investment strategy. We continue to drive innovation and adopt advanced operational technologies. With a distinctive blend of capabilities and expertise, Estithmar Holding is well placed to deliver exceptional stakeholder value and extend our footprint globally.”

Currently, Estithmar Holding’s operations span seven countries in addition to Qatar. The health care sector has expanded to Algeria, developing the Algerian Qatari German Hospital, Iraq through the management of Al-Imam Al-Hassan Al-Mujtaba Hospital and Al-Nasiriyah Teaching Hospital in Karbala and Di-Qar governorates, and to Libya, managing Misrata Heart and Vascular Center.

The real estate development and tourism division features major projects such as Rixos Baghdad Hotel and Residences in Iraq and the Rosewood Resort in the Maldives, both progressing at an accelerated pace. The services division has expanded its operations across Ƶ, Iraq, Maldives, Libya, Jordan, and Kazakhstan, sustaining revenue growth through operational diversification and scale.

Specialized contracting activities have also expanded in Ƶ, having been awarded major projects such as Red Sea Airport, five hotels in Shura Island, Sindalah Yacht Club and others, besides projects in the Maldives, and Iraq.

Record share performance

Estithmar Holding’s share showed robust and sustained upward momentum during H1 2025, climbing 77 percent. This indicates a transition from steady accumulation to a sharp upward trend, driven by increased investor confidence, ongoing profit growth, and the company’s expansion activities.

The company’s share performance reflects its sound management and operational policies focused on enhancing investor value. This aligns with the company’s long-standing commitments expressed in previous statements, alongside the launch of diversified projects and expansion initiatives.


Barq surpasses 7m users in first year of launch, with SR73bn worth transactions

Barq surpasses 7m users in first year of launch, with SR73bn worth transactions
Updated 02 August 2025

Barq surpasses 7m users in first year of launch, with SR73bn worth transactions

Barq surpasses 7m users in first year of launch, with SR73bn worth transactions

In a development that reflects the Kingdom’s rapid shift toward a cashless economy, Barq, a digital payments application, has recorded exceptional performance in its first year of operation. The number of its users has surpassed 7 million, representing 150 nationalities from around the globe. The app has encompassed a wide range of digital payments and money transfers, contributing effectively to advancing the Kingdom’s non-cash economy objectives.

In its first year, Barq issued more than 6.5 million digital payment cards, enabling users to conduct their transactions with ease and security. The app offers banking services through an advanced digital platform tailored to meet the needs of individuals as well as small and medium-sized enterprises, providing innovative payment solutions under a license granted by the Saudi Central Bank.

Since its launch in July last year, the app has processed over 500 million financial transactions, with a total transaction volume reaching SR73 billion ($19.4 billion), cementing its position as the fastest-growing digital wallet in the Kingdom and one of the leading success stories in the digital financial transformation aligned with the Saudi Vision 2030 goals.

Barq has also strengthened its international presence through strategic partnerships, facilitating payments for visitors and residents from outside the Kingdom. This initiative supports the digital tourism sector and contributes effectively to the objectives of the Financial Sector Development Program and Vision 2030, by fostering a digitally empowered society and an innovation-driven economy.

With a clear vision for empowering individuals and businesses, Barq continues to shape the digital payments landscape in the Kingdom, playing a vital role in realizing the Vision 2030 aspiration of building a thriving cashless society.


Azad Properties and Apparel Group to bring global retail experiences to Jeddah’s Souq7

Azad Properties and Apparel Group to bring global retail experiences to Jeddah’s Souq7
Updated 31 July 2025

Azad Properties and Apparel Group to bring global retail experiences to Jeddah’s Souq7

Azad Properties and Apparel Group to bring global retail experiences to Jeddah’s Souq7

Azad Properties has signed a landmark leasing agreement with Apparel Group, one of the region’s leading retail conglomerates, to bring a curated portfolio of globally recognized and high-performing retail and F&B concepts to Souq7 in Jeddah.

Under this partnership, 13 retail and dining destinations will be introduced at Souq7, collectively spanning approximately 9,000 square meters of gross leasable area. The mix includes established favorites such as Wings Stop, R&B, Tim Hortons, Allo Beirut, Nando’s, Skechers, Grand Center, Cold Stone, BBZ, Crocs, Babies and More, Sushi Library, and Beverly Hills Polo Club.

Set to open in Q4 2025, these new retail experiences are part of a phased activation strategy that reinforces Souq7’s positioning as a next-generation urban destination, where local culture meets global retail. The integration of these brands reflects a commitment to delivering a differentiated shopping and dining experience tailored to the expectations of Jeddah’s dynamic consumer base.

“Partnering with Apparel Group, one of the region’s most influential retail forces, elevates Souq7’s experience and offering, as we continue our journey to shape a destination where cultural relevance, community connection, and curated experiences come together,” said Ayman Al-Burti, CEO of Azad Properties.

This agreement builds on Azad Properties’ strategic growth agenda and underscores Apparel Group’s confidence in Souq7’s unique offering and long-term potential as a cornerstone in Jeddah’s evolving retail landscape.


New Geely Monjaro: Smart SUV that redefines luxury

New Geely Monjaro: Smart SUV that redefines luxury
Updated 30 July 2025

New Geely Monjaro: Smart SUV that redefines luxury

New Geely Monjaro: Smart SUV that redefines luxury
  • The Monjaro is fitted with a smart suspension system that automatically adapts to road conditions, adjusting the suspension stiffness to ensure a smooth and tranquil ride, even in off-road scenarios.

Al-Wallan Trading, the exclusive distributor of Geely in Ƶ, officially launched the Geely Monjaro SUV at a ceremony held at its showroom located on Khurais Road in Riyadh. The event was attended by members of the media, as well as several guests and individuals with an interest in the automotive industry.
The introduction of the new Geely Monjaro into the Saudi market represents an extension of the company’s successful track record in international markets, including China and Russia. This launch is a significant component of Geely’s strategic initiative to provide customers in the Kingdom with modern vehicles that align with their aspirations for luxury, performance, and advanced technology, all while maintaining a competitive pricing structure.
Fahad Saad Al-Wallan, chairman of Al-Wallan Holding, said: “We are pleased to announce the launch of the new Monjaro in the Saudi market, a vehicle that exemplifies our dedication to providing superior automotive technology in terms of performance, comfort, luxury, and safety. We have carefully considered our customers’ preferences and developed a car that competes effectively with prominent luxury brands while maintaining a more accessible price point. We are confident that the new Monjaro will establish a significant presence in the Kingdom’s markets shortly. Additionally, we will support this presence with exceptional after-sales services to ensure our customers’ peace of mind and to facilitate an optimal ownership experience.”
The next-generation Geely Monjaro is based on the global CMA platform, developed in collaboration with Volvo, which offers an exceptional blend of comfort, safety, and advanced technology. Featuring a bold and sophisticated design, the new Geely Monjaro harmoniously blends a contemporary aesthetic with a formidable presence on the road, positioning itself as an ideal option for enthusiasts of premium SUVs. The vehicle incorporates a comprehensive array of specifications and features that establish it as a formidable competitor in the luxury SUV segment, ensuring both driving enjoyment and peace of mind for consumers. The new Monjaro is equipped with a 2-liter turbocharged engine from the Volvo T5 family, paired with an eight-speed automatic transmission, delivering high performance and a smooth driving experience. This powertrain operates seamlessly with the BorgWarner intelligent all-wheel-drive system, offering seven distinct driving modes tailored to various road types, terrains, and driving conditions. Additionally, the vehicle is fitted with a smart suspension system that automatically adapts to road conditions, adjusting the suspension stiffness to ensure a smooth and tranquil ride, even in off-road scenarios.
The interior of the new Monjaro represents a significant advancement, characterized by a high level of luxury and meticulous attention to detail. Notable features of the vehicle include full-reclining front seats, a distinctive attribute within this segment that enhances overall comfort. The seating arrangement is further complemented by massage and ventilation capabilities, ensuring a pleasant travel experience during extended journeys. Additionally, the vehicle is equipped with a four-zone audio control system, allowing each passenger to independently regulate sound and air conditioning settings. The technological integration features a triple entertainment screen setup, comprising a primary display, a digital instrument cluster, and a dedicated display for the front passenger. The audio experience is elevated by the advanced Infinity sound system, which comprises 12 speakers, including a strategically integrated speaker within the driver’s headrest, thus providing an immersive auditory experience. Furthermore, the inclusion of Apple CarPlay Wireless stands out as one of the most significant enhancements to this model.
The new Geely Monjaro is constructed with a body composed of 79 percent high-strength steel and incorporates the latest advancements in safety technologies. 
All of this makes the new Monjaro an ideal SUV for everyday city driving, highway journeys, and even wild adventures in desert terrain, in an all-in-one experience that combines performance, comfort, luxury, and peace of mind.


Sony INZONE and Fnatic team up for Esports World Cup

Sony INZONE and Fnatic team up for Esports World Cup
Updated 30 July 2025

Sony INZONE and Fnatic team up for Esports World Cup

Sony INZONE and Fnatic team up for Esports World Cup

Sony Middle East and Africa collaborated with Fnatic, one of the world’s leading esports organizations, to deliver an immersive, fan-first experience at the 2025 Esports World Cup in Riyadh.
With Ƶ’s gaming market surpassing SR7.88 billion ($2.1 billion) in 2024 and esports alone generating more than SR83.28 million, this event further elevated the region’s gaming boom. From July 8–13, fans visited the INZONE x Fnatic booth at the Content Creator Park to meet their players including Jake “Boaster” Howlett, Austin “Crashies” Roberts, Kajetan ‘Haremski,” Timofey “Chronicle” Khromov, and Emir Ali “Alfajer” Beder. Visitors also tried cutting-edge gaming gear while being part of this rapidly expanding global phenomenon.
The Sony INZONE booth offered fans an exclusive meet-and-greet opportunity with Fnatic’s team, alongside exciting giveaways and interactive gaming zones. 
Beyond this, gaming enthusiasts had the chance to experience the INZONE range, including the newly launched INZONE M10S gaming monitor along with the INZONE H5 and INZONE H9 wireless headset, all developed in close collaboration with Fnatic’s pro players. These products are built for competitive performance, designed to deliver next-level audio and visual fidelity for both casual and elite gamers. 
Jobin Joejoe, managing director, Sony Middle East and Africa, said: “With more than 33 million gamers across the GCC, and nearly 62 percent of the total gaming population in Ƶ, this experience taps into a deeply passionate and fast‑growing audience. Creating this memorable experience allows fans to engage with the Fnatic team in a real gaming environment.”
Sam Mathews, founder and CEO, Fnatic, added: “We’ve always believed in being right where our fans are, and this partnership with Sony INZONE is all about creating special moments that bring us closer together. We’re proud to be here in Riyadh, connecting with our fans.”
In addition to the booth at the Esports World Cup, fans in Riyadh also had the chance for an exclusive meet and greet with the Fnatic Valorant Team at Sony World, Granada Mall, Riyadh, on July 10. This in-store experience allowed fans to test the Inzone range and meet their favorite players all while exchanging tips and tricks with their fellow players.
The collaboration took place alongside Fnatic’s participation in the Valorant tournament, part of the Esports World Cup’s debut of Riot Games’ flagship tactical shooter, where 16 top teams battled live on a local area network in front of fans for a SR4.69 million prize pool.


Amazon Prime Day sale offers unmatched discounts in Ƶ

Amazon Prime Day sale offers unmatched discounts in Ƶ
Updated 30 July 2025

Amazon Prime Day sale offers unmatched discounts in Ƶ

Amazon Prime Day sale offers unmatched discounts in Ƶ

Amazon is hosting its highly anticipated Prime Day event in Ƶ, running for seven consecutive days from July 25 to 31. The sale offers exclusive discounts across more than 30 product categories, offering Prime members significant savings on both local and international brands.

The week-long shopping extravaganza kicked off at 12:01 a.m. on July 25 and is accessible exclusively to Amazon Prime members. Membership is available for SR16/month or SR140/year at www.amazon.sa/prime, with added benefits including fast, free delivery and access to Prime Video.

Massive discounts across leading categories

Prime Day 2025 features thousands of deals across everyday essentials, fashion, electronics, home, kitchen, toys, beauty, and Amazon Devices. Brands featured include global names like Adidas, Dyson, PlayStation, Philips, LEGO, Apple, Coach, Samsung, Sony, and local favorites from Amazon’s Global Store offerings.

Top highlights:

  • Everyday essentials and grocery: Up to 35 percent off on laundry detergents (Clorox, Ariel, Tide), beverages (Coca-Cola, Arwa, Nescafe), and pantry staples (Betty Crocker, American Garden).
  • Electronics: Discounts of up to 49 percent on external storage and up to 47 percent on audio devices, with savings on gaming consoles, laptops, TVs, mobile phones, and air purifiers.
  • Amazon Devices: Save up to 65 percent on Ring security cameras, 45 percent on Echo smart devices, and 30 percent on Kindle e-readers.
  • Beauty and personal care: Up to 60 percent off skincare and makeup brands including Cetaphil, Neutrogena, Maybelline, and CeraVe.
  • Fashion and accessories: Apparel and bags from Tommy Hilfiger, Lacoste, and JW PEI at up to 60 percent off, with similar discounts on shoes, watches, and sunglasses.
  • Kitchen and home: Up to 30 percent off on air fryers, microwaves, coffee machines, and cookware from trusted brands like Tefal, Philips, and De’Longhi.
  • Back-to-school: Up to 60 percent off on school supplies, including backpacks, stationery, and water bottles.
  • Toys and sports: Up to 60 percent off on toys from LEGO and Funko, and sporting gear from Under Armor and Wilson.

New feature: Amazon Bazaar

A standout addition this year is the introduction of Amazon Bazaar, a curated shopping space offering trendy fashion, home, and lifestyle products at accessible prices. Prime members can enjoy up to 35 percent off, with many items priced below SR25 and some as low as SR4. The Bazaar can be accessed via the Amazon app or by visiting amazon.sa/bazaar.

Flexible payment and extra savings

To make shopping even more convenient, Amazon.sa is offering:

  • Instant bank discounts for Al-Rajhi Bank cardholders.
  • SR35 promotional credit with the purchase of a SR500 eGift card (valid through July 24).
  • Buy now, pay later options via Tabby and Tamara, enabling interest-free installments.
  • Zero percent installment plans with select banking partners at checkout.

Fast, free delivery

Prime members will benefit from same-day and one-day delivery options on local products, alongside free international shipping from Amazon US, UK, and Germany. Orders can be shipped to home or office addresses for maximum flexibility.

Local insight: shopping preferences in Ƶ

Recent research by HarrisX shows strong consumer interest in deals, with 86 percent of Saudi shoppers expressing satisfaction with discounted purchases. Over half (52 percent) reported that finding a great deal was more exciting than spontaneous weekend plans. Additionally, 81 percent value the convenience of digital memberships like Amazon Prime, and 80 percent believe they offer long-term savings.

Abdo Chlala, country manager at Amazon Ƶ, said: “Prime Day is about creating meaningful value for our members. This year, we’re offering our longest celebration yet with seven days of incredible deals, covering summer essentials, back-to-school must-haves, and everything in between. We’re especially excited about our new Amazon Bazaar, which brings trendy and affordable options to more customers. With fast delivery, flexible payments, and access to global brands, Prime Day delivers a truly rewarding shopping experience.”