The streets of Saudi Arabia's capital today are unrecognisable from the city that was once burdened by stringent segregation rules and strict social practices.
At Riyadh's King Khalid International Airport, men and women are queuing in the same line at customs.
The majority of women are not veiled and some do not opt to wear the abaya — the long traditional garb — that is often worn in the Gulf but was, until recently, mandated for all women in Saudi Arabia.
The opening up of Riyadh and the removal of physical and social barriers has changed everyday life significantly.
“Visiting Saudi Arabia as whole was a different experience in 2008 than nowadays, with strict measures of wearing the abaya and hair scarf and noticeable segregation of the sexes,” said Samia, an Egyptian tourist who visited her extended family in Jeddah.
The kingdom is changing for the better and the capital is playing a key role in the Saudi Vision 2030.
There isn't an adjective big enough to describe the change Riyadh has seen. You are taken aback by this positive community spirit to succeed
Susan Parker,
Riyadh resident
The vision unveiled by Crown Prince Mohammed bin Salman in 2016 was the first step made by the government towards introducing a wide range of transformational projects and initiatives to propel the country forwards.
Most women continue to wear the hijab, while others choose not to cover their hair. Mixing between men and women has become more common and the religious police are nowhere to be seen.
Now, women are more engaged in the workplace, forging their own path and proving they are integral to the Saudi Arabian economy and its growth.
The Saudi government has provided increased opportunities for citizens to work in the private and public sectors through the Nitaqat framework.
Saudi citizens constitute about two thirds of the city’s population, which remains quite young — more than half are younger than 20 and fewer than one fifth are older than 60.
Today's population of 7.5 million is forecast to hit 10 to 15 million by 2030.
Ten years ago, most workplaces were male-dominated, says Khaled Alturki, co-founder and chief executive of Marefa Digital, a learning platform which delivers workshops and training sessions.
“It's a healthy mix of women and men present now when we deliver workshops and training,” he says.
“There's more diversity and inclusion.”
Men make up about half the city’s population but more than two thirds of them are non-Saudis. Many expatriate labourers come to work in Riyadh without their families.
Susan Parker, who has worked in the Gulf since 2008, including in Dubai and Abu Dhabi, said she was caught by surprise by the spirit of the city.
“There isn't an adjective big enough to describe the change Riyadh has seen,” she says.
Before 2016, as an unmarried foreign woman, Ms Parker says she couldn't get a visitor visa for client meetings in the capital.
Now she is a proud resident of the kingdom and is overwhelmed by the warmth and enthusiasm she experiences from Saudi Arabians in this new era.
“The attitude is so open, welcoming and forward thinking,” says Ms Parker, who is head of communications for Cenomi Group, the kingdom's largest retail and lifestyle brand.
“Everyone genuinely feels they are playing a part in these changes.
“You are taken aback by this positive community spirit to succeed.”
A hub for business and entertainment
Government investment in cultural heritage restoration and the city’s infrastructure has more than doubled since the launch of Vision 2030, and these changes are particularly visible in Riyadh.
Riyadh Season is a five-month citywide entertainment and cultural festival that draws residents and tourists to the capital. At its centrepiece is Boulevard Riyadh, a 900,000-square-metre leisure district.
Last year, Riyadh Season hosted 7,500 events covering everything from music and arts to food and sport events. This year, it will offer more than 8,500 activities including daily fireworks, 150 concerts, eight international shows, 17 Arabic-language plays, 108 interactive experiences and 252 restaurants.
The MDL Beast Fest music event drew thousands of people over three days, with more than two dozen acts performing across its five stages.
As such, the number and frequency of visitors has increased exponentially, causing regular traffic jams on the roads during peak hours.
“Indeed, every type of talent and business opportunities have come to Riyadh in recent years,” said Mr Alturki. “The traffic has become a problem for commuters, which is actually a good indication of a thriving city and capital.”
The goal is to continue to drive the city’s economic, industrial and tourism growth. The government will invest $23 billion over the next eight years to maximise its expansion.
City officials have already devised a solution to the traffic-flow predicament, with the Riyadh Metro, a new $22.5 billion transport project comprising 85 stations and six lines.
This is what Riyadh represents now, a testament to the kingdom's commitment to flying high on the winds of change.
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
It's up to you to go green
Nils El Accad, chief executive and owner of Organic Foods and Café, says going green is about “lifestyle and attitude” rather than a “money change”; people need to plan ahead to fill water bottles in advance and take their own bags to the supermarket, he says.
“People always want someone else to do the work; it doesn’t work like that,” he adds. “The first step: you have to consciously make that decision and change.”
When he gets a takeaway, says Mr El Accad, he takes his own glass jars instead of accepting disposable aluminium containers, paper napkins and plastic tubs, cutlery and bags from restaurants.
He also plants his own crops and herbs at home and at the Sheikh Zayed store, from basil and rosemary to beans, squashes and papayas. “If you’re going to water anything, better it be tomatoes and cucumbers, something edible, than grass,” he says.
“All this throwaway plastic - cups, bottles, forks - has to go first,” says Mr El Accad, who has banned all disposable straws, whether plastic or even paper, from the café chain.
One of the latest changes he has implemented at his stores is to offer refills of liquid laundry detergent, to save plastic. The two brands Organic Foods stocks, Organic Larder and Sonnett, are both “triple-certified - you could eat the product”.
The Organic Larder detergent will soon be delivered in 200-litre metal oil drums before being decanted into 20-litre containers in-store.
Customers can refill their bottles at least 30 times before they start to degrade, he says. Organic Larder costs Dh35.75 for one litre and Dh62 for 2.75 litres and refills will cost 15 to 20 per cent less, Mr El Accad says.
But while there are savings to be had, going green tends to come with upfront costs and extra work and planning. Are we ready to refill bottles rather than throw them away? “You have to change,” says Mr El Accad. “I can only make it available.”
DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
WISH
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