Latest news with #BAANHolding
Arab News
4 days ago
- Business
- Arab News
Partnerships, strategic deals drive next era of Saudi entertainment
Momentum built over three days at the SEA Expo 2025, held from May 20-22 in Riyadh, as partnerships progressed, discussions deepened, and the region's entertainment priorities commanded the program for the day. Now in its seventh edition, the Saudi Entertainment and Amusement Expo has proven itself as a strategic anchor for the global entertainment business. With participation from 36 countries — including Saudi Arabia, the UK, the US, Germany, and the UAE — the SEA Expo continues to attract the industry's decision-makers as they look to tap into Saudi Arabia's fast-expanding leisure and attractions market. SEA Expo provides direct access to trade intelligence, partnership opportunities, and practical insights. At the center of SEA Expo is the SEA Summit, which has the generous support of leading sponsors BAAN Holding, Al-Othaim, RWS Global, Storyland Studios, RC Almana, and TAIT. In this focused arena, this year's sessions explored immersive technology, artificial intelligence, esports, and the design of sustainable, future-ready entertainment destinations. Further to this, a key highlight of the summit was the compelling opening keynote panel, 'Partnership in Practice: Building Saudi's Next Entertainment Hubs,' where public and private sector leaders explored how new investments shape the physical and creative landscape of Saudi Arabia's next-generation venues. The strength of SEA Expo 2025 is reflected in its industry backing, with sponsors invested in realizing the region's entertainment ambitions. The show days also saw the signing of several significant agreements that will strengthen the country's entertainment infrastructure, including: • Mack Rides, SPARKS, and Fawasel are finalizing an exclusive sales agreement that will enable the delivery of advanced amusement rides across the Kingdom. • INFINIA and BLOCKS signed a memorandum of understanding to co-develop digital theming, smart experiences and immersive design for public and private environments. These partnerships reflect the sector's continued movement toward tailored, high-impact solutions and long-term project development, bringing both international expertise and local insight into alignment. Sarkis Kahwajian, associate vice president at dmg events, said: 'SEA Expo is an important working platform, and it continues to deliver on its purpose: bringing together the right people to move from vision to implementation. The outcomes we're seeing here will define the next phase of growth.' Co-located with the Saudi Light and Sound Expo, SEA Expo is supported by the Kingdom's General Entertainment Authority and the Ministry of Investment of Saudi Arabia, indicative of its direct alignment with the Kingdom's Vision 2030 objectives — building a globally competitive entertainment sector, expanding employment opportunities and diversifying the economy through leisure and tourism.
Argaam
03-03-2025
- Business
- Argaam
BAAN Holding exits Newrest, launches catering ops in NEOM residential project
BAAN Holding Group Co. announced receiving a project award to provide catering services at a residential complex in NEOM, at an estimated value of approximately SAR 436 million. The residential complex is managed by Almutlaq Real Estate Investment Co's (AREIC) subsidiary, Sustainable Services Co. This move strengthens its operational capabilities and supports its long-term growth strategy. BAAN Holding aims to enhance shareholder value by securing full returns from both current and future projects. The company reaffirmed its commitment to expanding in the catering and hospitality sector. It is also focused on optimizing efficiency to ensure high-quality service. The decision follows its successful launch of catering operations in NEOM, where it achieved high customer satisfaction. BAAN Holding—formerly Abdulmohsen Alhokair Group for Tourism and Development—established Newrest in March last year. The limited liability company specialized in catering, site management, and remote facility management. It was launched with a capital of SAR 100,000 in partnership with Newrest, according to Argaam 's data. In a separate statement to Tadawul, Ban Holding announced the start of catering operations at a NEOM residential complex. It has hired skilled personnel and is preparing for the upcoming Ramadan season. The company was awarded a contract in January to provide catering and hospitality services at a NEOM residential complex. The project is operated by Sustainable Services Co., a subsidiary of Almutlaq Real Estate Co. (AREIC). The six-year contract is valued at approximately SAR 436 million and runs through Dec. 31, 2030. Under the contract, BAAN Holding will provide food and catering services for the Modern Village residential complex. The contract value is linked to the occupancy rate and the number of residents, the company added.
