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Business Insider
3 minutes ago
- Business Insider
Emirates becomes the biggest airline to crack down on power banks, after a fire underscored the danger
Emirates has become the latest and largest airline to crack down on power banks. The Dubai-based carrier announced Friday that using such devices will be prohibited on board its flights, starting October 1. Though many other airlines have cracked down on the use of power banks after one caught fire on a flight in January, Emirates' rules are among the strictest. Passengers won't be allowed to charge devices with power banks, nor charge a power bank itself using a plane's outlets. They're also only allowed one, which must be under 100 Wh, and stored in the seat pocket or a bag under the seat in front, not the overhead bin. It joins Southwest Airlines, Lufthansa, Singapore Airlines, and Thai Airways, among others. Authorities in Hong Kong and South Korea have also instituted rules about power banks on planes. Why airlines are cracking down on power banks On any airline, power banks must be carried in the cabin and not left in checked baggage, so cabin crew can intervene quickly to stop a fire from getting out of control. The dangers were spotlighted in January, when an Air Busan Airbus A321 caught fire before takeoff in South Korea. All 176 people aboard survived, but 27 were injured. Investigators said the fire was likely caused by a power bank, and the South Korean government announced stricter rules around their usage. Emirates said on Friday: "There has been a significant growth in customers using power banks in recent years, resulting in an increasing number of lithium battery-related incidents on board flights across the wider aviation industry." In May, a Southwest plane was forced to divert when a customer's battery charger overheated on a flight from Baltimore to Tampa. It occurred just 24 hours after the airline instituted new rules requiring customers to keep power banks visible while in use. The Southwest flight attendants followed procedures and put the device in a containment bag. The plane landed safely in South Carolina, where passengers had to wait five hours before continuing their journey on a new plane. Power banks are particularly risky because of their lithium batteries. If overcharged or damaged, it can result in thermal runaway, leading to rapid temperature increase. Unlike phones and laptops, many power banks don't have safeguards against this. Emirates has the fourth-largest network in the world by seat miles, behind only the US's Big Three. Its decision suggests more airlines could follow suit.
Yahoo
31 minutes ago
- Yahoo
Start Equity Ventures and Red Sea Global Sign Strategic MoU to Accelerate Innovation and Investment Across Saudi's Emerging Tech Ecosystem
RIYADH, Saudi Arabia, Aug. 08, 2025 (GLOBE NEWSWIRE) -- Start Equity Ventures, a Washington, DC based venture capital and innovation platform, has signed a strategic Memorandum of Understanding (MoU) with Red Sea Global's Technology Department under its Innovation and Partnerships Division. The partnership aims to identify, support, and scale pioneering startups through collaborative pilots, co-investments, and long-term ecosystem development in Saudi Arabia. The MoU lays the foundation for joint efforts in advancing smart city technologies, artificial intelligence, and regenerative tourism solutions. By aligning on shared objectives, Start Equity Ventures and Red Sea Global will help high-impact startups transition from proof-of-concept to scaled deployment, empowering Saudi's position as a regional innovation leader. Mohammed Ahmed, Founder & Managing Partner at Start Equity Ventures, stated: 'This partnership with Red Sea Global represents the kind of collaboration that moves the needle, not just in capital, but in capability. Together, we are creating a bridge between early-stage innovation and institutional readiness, unlocking growth for entrepreneurs across the Kingdom and the region.' Sultan Moraished, Group Head of Technology & Corporate Excellence at Red Sea Global, added: 'Our mission is to drive sustainable, high-impact innovation that benefits both communities and industries. This MoU with Start Equity Ventures enables us to work with visionary founders and technologies, and turn them into real-world solutions at scale.' This collaboration reflects a shared vision to build a future where technology, sustainability, and entrepreneurship go hand in hand, and where Saudi Arabia stands at the center of global innovation. For inquiries or partnership opportunities, please contact: For Media Inquiries or Partnership Opportunities with Start Equity Ventures, Please Contact: Mohammed Ahmed Founder & Managing Partner Start Equity Venturesmohammed@ in Washington, D.C. For Venture and Investment Collaborations with Red Sea Global, Please Contact: AnaMaria Meshkurti Ventures and Partnerships Red Sea Global Based in Riyadh, Saudi Arabia For Innovation Collaborations with Red Sea Global, Please Contact: Rafah Alkhatib Innovation, Technology Planning and Development Red Sea Global Based in Riyadh, Saudi Arabia This content is provided by the sponsor. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or business advice. All investments carry inherent risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any inaccuracies, misrepresentations, or financial losses resulting from the use or reliance on the information in this press release. Speculate only with funds you can afford to lose. In the event of any legal claims or concerns regarding this article, we accept no liability or responsibility. GlobeNewswire does not endorse any content on this page. Legal Disclaimer: This media platform provides the content of this article on an "as-is" basis, without warranties or representations of any kind, express or implied. We assume no responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained herein. Any complaints, copyright issues, or inquiries regarding this article should be directed to the content provider listed above. A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
[Latest] Saudi Arabia Facility Management Market is Projected to Hit Market Valuation of US$ 111.07 billion by 2033
Giga-projects under Vision 2030 are reshaping the Saudi Arabia facility management market. This creates immense demand for outsourced, technology-driven soft services, prioritizing sustainability and world-class user experiences across a rapidly expanding built environment. Chicago, Aug. 08, 2025 (GLOBE NEWSWIRE) -- The Saudi Arabia facility management market was valued at US$ 48.04 billion in 2024 and is expected to reach US$ 111.07 billion by 2033, growing at a CAGR of 10.16% during the forecast period 2025–2033. The Kingdom of Saudi Arabia is undergoing a seismic economic transformation, and at the heart of this evolution lies a golden opportunity within its facility management sector. Driven by the colossal ambition of Vision 2030, the Saudi Arabia facility management market is no longer a secondary consideration but a critical enabler of national development. With the government committing approximately $1 trillion to diversify its economy away from hydrocarbons by 2035, the scale of development is staggering. This investment is creating entirely new cities, futuristic tourist destinations, and world-class infrastructure from the ground up. Request Sample Pages: The recently published and updated report presents an unparalleled demand for sophisticated, technology-driven, and sustainable facility management solutions. As the Kingdom constructs projects on a giga-scale, the long-term operational and maintenance needs are immense, creating a robust, multi-billion-dollar pipeline for FACILITY MANAGEMENT providers. The opportunities extend across every vertical, from hospitality and healthcare to industrial and commercial real estate. For stakeholders and market players, the message is clear: the Saudi Arabia market is entering a phase of exponential growth, offering returns and partnerships on a scale rarely seen anywhere in the world. This is not just a market; it is the bedrock of a new, diversified Saudi economy. Key Findings in Saudi Arabia Facility Management Market Market Forecast (2033) US$ 111.07 billion CAGR 10.16% By Service Type Soft Services (74.33%) By Mode of Service Outsourced Facility Management (55.62%) By Enterprise Size Large Enterprises (67.55%) By Service Delivery Model Contract-Based (76.32%) By End User Business and Corporate (25.20%) Top Drivers Vision 2030 giga-projects create massive infrastructure development demand. Government focus on economic diversification, tourism, and urban living. Increasing awareness of facility management's role in operational efficiency, cost-saving. Top Trends Rapid adoption of technology like IoT and AI. Growing demand for integrated facility management solutions. Strong emphasis on sustainability and energy-efficient green building practices Top Challenges Significant shortage of skilled local facility management professionals. Navigating evolving government regulations and international service standards. Rising cybersecurity threats to integrated and smart building systems. Vision 2030 Giga-Projects: The Unrivaled Catalyst for Unprecedented FACILITY MANAGEMENT Sector Expansion The primary engine powering demand in the facility management market is Vision 2030's portfolio of giga-projects. The government has already channeled an initial $500 billion into the futuristic NEOM project as of 2024. This monumental undertaking, alongside others, is supported by a 2023 infrastructure and transport budget of SAR 271 billion (approximately $72 billion), with development continuing through 2024. By 2024, total investments in the Kingdom's infrastructure had soared to SR 4.9 trillion (approximately $1.3 trillion). Qiddiya Investment Company is accelerating its entertainment and sports project by planning to award $2.66 billion (SAR 10 billion) in new contracts. Furthering this, the Diriyah Company began constructing a premier office complex in 2024, set to offer around 39,000 square meters of gross leasable area (GLA) with a total gross floor area (GFA) of nearly 47,000 square meters. The Kingdom's National Industrial Strategy aims to increase the number of factories to approximately 36,000 by 2035, built upon over 800 investment opportunities valued at SR 1 trillion. A New Era of Hospitality: Fueling Immense FACILITY MANAGEMENT Demand Across the Kingdom A core pillar of Vision 2030 is the transformation of Saudi Arabia into a global tourism hub, creating a massive pipeline for hospitality-focused facility management market services. The Kingdom has boldly updated its tourism target, now aiming to attract 150 million visitors annually by 2030. In 2024 alone, the nation is expected to welcome over 30 million international visitors. To accommodate this influx, the country is on track to develop an astonishing 362,000 new hotel rooms by 2030, part of a wider 110 billion investment in the hospitality sector. As of April 2025, Saudi Arabia leads the Middle East and Africa with 42,800 hotel rooms under contract. Across the region, including KSA, 50,683 new rooms are expected to open in 2025. The Saudi Arabia facility management market will directly benefit from the 319 hotel projects, totaling 85,416 rooms, in the Kingdom's pipeline at the close of Q1 2025. Specific projects include a SAR 2.5 billion (approximately $666.6 million) pact signed in January 2024 for a Makkah hospitality project adding over 1,000 rooms. Moreover, hospitality Management Holding (HMH) is adding 1,314 new rooms, with the 104-room Corp Yanbu Hotel opening in 2025, the 150-room Corp Madinah Hotel opening by the end of 2025, and the 460-room Corp Makkah Al Naseem following in early 2026. Wherein, the luxury segment also expands with the Rosewood Red Sea (149 rooms) and Jumeirah Red Sea (159 rooms), both opening in 2025. Healthcare and Real Estate Expansion: Foundational Pillars of Modern FACILITY MANAGEMENT Service Opportunities The government's commitment to enhancing citizen welfare is creating a parallel boom in healthcare and real estate infrastructure. The health and social development sector received a budget of SR 260 billion ($69.3 billion) for 2025. A total of $65 billion is planned for healthcare infrastructure under Vision 2030. This translates into tangible projects, with five new hospitals scheduled to open by 2025, adding 963 beds. In April 2025, Riyadh facility management market saw the launch of 28 new healthcare projects with an investment of over SR 7 billion, set to add more than 3,000 new hospital beds. Key developments include a new 500-bed tower at King Saud Medical City, 200-bed towers each at King Salman and Al-Iman Hospitals, and a new 300-bed hospital in Diriyah. In 2024, the 200-bed Tabuk Heart Center and 200-bed Abha Psychiatric Hospital are expected to be completed, while the first stage of the $1.1 billion Jeddah Medical City will include a 200-bed private hospital. Emergency services will be bolstered with 568 new vehicles. Simultaneously, urbanization is fueling real estate growth. As of 2024, over 60,000 commercial buildings required facility management services. The pipeline includes over one million new residential units, 7 million square meters of office space, and 7 million square meters of retail space, with real estate transactions in H1 2024 valued at SR 127.3 billion. Critically, the Real Estate General Authority announced it would issue the first legislation for facility management in Q1 2024, professionalizing the sector. Industrialization and Logistics: Powering Specialized Facility Management Service Growth Across KSA The Kingdom's push for industrial diversification is creating thousands of advanced manufacturing and logistics hubs, each demanding specialized facility management market expertise. In a clear sign of progress, 1,075 new factories began production in 2024 with a combined investment exceeding SR 48 billion. During the same period, 1,346 new industrial licenses were issued, attracting investments worth over SR 50 billion ($13.3 billion). This industrial surge is a major job creator; the factories that began production in 2024 created about 39,000 jobs, while the newly issued licenses are expected to generate over 44,000 more. This builds on a strong base, as Saudi Arabia was home to 11,549 factories by the end of 2023. The geographic distribution highlights key industrial zones, with Riyadh hosting 4,502 factories, the Eastern Province home to 2,618, and the Makkah region containing 2,209 facilities. Each new facility represents a long-term contract opportunity for the Saudi Arabia facility management market. The Green Imperative: Sustainability Driving Forward Next-Generation Facility Management Practices Sustainability is no longer optional; it is a core requirement embedded within the Saudi Green Initiative, creating a specialized and lucrative niche in the Saudi Arabia facility management market. In 2025, the Kingdom launched a green financing program of SR 1 billion ($266.6 million) to support private-sector environmental projects. This commitment is reflected in the built environment, with the Kingdom leading the Arab world with 2,000 registered green building projects as of October 2024. The nation's global standing is also impressive; as of June 2024, Saudi Arabia had over 1,190 LEED-certified projects, placing it fifth globally. The capital, Riyadh, is a major hub for this movement, accounting for 866 of the country's LEED-certified projects. This green transition is part of the larger Saudi Green Initiative, which includes the ambitious target of planting 10 billion trees, further signaling a deep, long-term commitment to environmental stewardship that will require specialized FACILITY MANAGEMENT services. Analyzing the Evolving Contract, Financial, and Competitive Market Landscape in FACILITY MANAGEMENT The financial and competitive dynamics of the Saudi Arabia facility management market are shifting rapidly. Mega-contracts are defining the top tier of the market, such as Qiddiya's SR 4 billion (approximately $1.1 billion) contract for the Prince Mohammed bin Salman Stadium. Further contracts for Qiddiya include an estimated SR 1.8 billion (around $480 million) for its Speed Park racetrack and an initial SR 7 billion (about $1.9 billion) for buildings around the track. Infrastructure contracts for the resort core were awarded for a combined SR 2.29 billion, while the Six Flags Qiddiya theme park construction contract is valued at SR 3.75 billion. In a move that boosted market liquidity, the state injected $26.7 billion in 2024 to clear payment arrears to private companies. In this environment, market players are making strategic moves. Muheel Facilities Management showcases its scale with over 2,000 employees, a fleet of 208 vehicles, and a service presence across 13 cities. Consolidation and specialization are key trends, exemplified by Khidmah's acquisition of green building enabler Pactive and Mace Macro Technical Services. In October 2024, global facility management advisor Trascent formed a joint venture with Gulaid Holding to create Trascent Arabia, highlighting rising international interest. Addressing the Critical Workforce Gap while Embracing Technology in Facility Management The explosive growth of the Saudi Arabia facility management market presents two interconnected challenges: securing a skilled workforce and integrating advanced technology. As of 2024, the Kingdom faces an estimated shortfall of 50,000 skilled workers in the facility management field, a gap that requires urgent attention through training and development programs. The demand for labor is immense across all new sectors; tourism-related activities employed 983,253 people in Q1 2025, and the Qiddiya giga-project alone expects to directly employ approximately 17,000 people in its initial phase. To bridge the efficiency gap and meet the complex demands of modern smart buildings, technology is paramount. Recognizing this, SIERRA introduced its eFACiLiTY Enterprise Facility Management Software in 2024. This SaaS solution, hosted on Microsoft Azure, is specifically designed to provide the scalable, data-driven tools needed to manage the next generation of Saudi Arabian facilities. Need a Customized Version? Request It Now: The Strategic Outlook: Capitalizing on Unprecedented Future Growth and FACILITY MANAGEMENT Market Demand The confluence of giga-project development, economic diversification, and a government mandate for quality and sustainability creates a fertile ground for exponential growth. The data from 2024 and 2025 paints a clear picture of a market in rapid ascent, backed by trillions of dollars in state and private investment. For facility management providers, the strategic imperative is to align capabilities with the specific needs of these burgeoning sectors—be it the luxury demands of hospitality, the technical precision of healthcare, the green credentials of new urban centers, or the operational rigor of industrial hubs. The future of the Saudi Arabia facility management market is inextricably linked to the success of Vision 2030. Companies that invest in skilled local talent, embrace digital transformation, and demonstrate expertise in sustainable practices will not only thrive but will become integral partners in shaping the future of the Kingdom itself. The opportunity is here, it is immense, and it is happening now. Saudi Arabia Facility Management Market Major Players: Initial Saudi Group (Alesayi Holding) EMCOR Facilities Services, Inc. Almajal G4S (Allied Universal) SETE Energy Saudia for Industrial Projects Ltd SAMAMA Holding Group ENGIE Solutions (Engie Group) Nesma United Industries Co. Ltd AL-YAMAMA Group Olive Arabia Co. Ltd Tamimi Group Facilities Management Company (FMCO) Al Suwaidi Holding Company KSA Khidmah ZOMCO EFSIM Other Prominent Players Key Market Segmentation: By Service Type Hard Services Asset Management MEP and HVAC Services Fire Systems and Safety Elevator and Escalator Maintenance Pest Control Services Building Fabric Maintenance Energy Management and Sustainability Services Other Hard FM Services Soft Services Office Support and Security Cleaning Services Catering Services Landscaping and Grounds Maintenance Waste Management Reception and Concierge Services IT and Tech Support Services Accommodation Management Other Soft FM Services By Mode of Service In-house Facility Management Outsourced Facility Management Single Facility Management Bundled Facility Management Integrated Facility Management By Enterprise Size Large Enterprises Small- Medium Enterprises (SMEs) By Service Delivery Model Contract-Based Short-Term Contracts Long-Term Contracts On-Demand / Ad-Hoc Services By End User Business and Corporate Education Industry and Manufacturing Healthcare Public Administration Hospitality Construction Others Need a Detailed Walkthrough of the Report? Request a Live Session: About Astute Analytica Astute Analytica is a global market research and advisory firm providing data-driven insights across industries such as technology, healthcare, chemicals, semiconductors, FMCG, and more. We publish multiple reports daily, equipping businesses with the intelligence they need to navigate market trends, emerging opportunities, competitive landscapes, and technological advancements. With a team of experienced business analysts, economists, and industry experts, we deliver accurate, in-depth, and actionable research tailored to meet the strategic needs of our clients. At Astute Analytica, our clients come first, and we are committed to delivering cost-effective, high-value research solutions that drive success in an evolving marketplace. Contact Us:Astute AnalyticaPhone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)For Sales Enquiries: sales@ Follow us on: LinkedIn | Twitter | YouTube CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@ Website: while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
