MUST-READS

• Saudi Arabia has highest penetration rate of women professional gamers globally: Saudi prince: Video
  HRH Prince Faisal bin Bandar Al-Saud, chairman of the Saudi Esports Federation, said on Thursday at CONVERGE LIVE that the country has had the opportunity to show that professional gaming is a “real career path with no baggage for women”.

• Chinese food delivery giant dishes out deep discounts to win Saudi customers

  Keeta, the international arm of China’s biggest food delivery app, Meituan, has become the third-largest food delivery platform in Saudi Arabia just four months after its overseas debut. Its aggressive, price-slashing strategy is squeezing smaller players and challenging dominant platforms in the lucrative Middle Eastern market, which could be a springboard for other international markets. Since Keeta launched in Saudi Arabia last October, it has taken 10% of the Saudi food delivery market in terms of order volume, according to a recent report from Bengaluru-based business consulting firm Redseer. Its market share as of January has surpassed that of more than 10 smaller delivery apps, and challenges the domination of the country’s two locally developed platforms HungerStation and Jahez, the report’s lead researchers told Rest of World.

• Saudi banks banned from using WhatsApp for their communications with customers

  The Saudi Central Bank (SAMA) has decided to ban the use of instant messaging applications such as WhatsApp by the local banks for their communications with customers. SAMA noted that these applications are unreliable channels, according to Asharq Al-Awsat newspaper. SAMA's decision is based on the powers assigned to it and other related regulations, and out of its keenness to enhance the quality of practices and procedures followed by financial institutions subject to its supervision, in a way bringing the risks to the minimum. It is learnt that the Central Bank has asked financial institutions to examine the availability of alternative and secure channels such as benefiting from activating instant messaging services such as Live Chat or ChatBot, within the application, or the financial institution's website, taking into account compliance with the requirements for protecting personal data.

• Collector Basma Al Sulaiman on the Future of the Saudi Art Market: ‘We Are Not Just Consumers’

  The Gulf has been a hotbed of cultural investment in recent years. Saudi Arabia, in particular, has experienced a burgeoning museum landscape—both public and private—and cultural events launching as part of its Vision 2030 project, a sweeping plan for diversifying the nation’s economy to be less oil-production reliant. As of last year, projects associated with Vision 2030 have reached $1.3 trillion in value. Part of that plan has included expanding luxury retail as well as arts and culture infrastructure. Last year, Abu Dhabi’s sovereign wealth fund struck a $1 billion deal with Sotheby’s owner, Patrick Drahi, for a minority stake in the firm. Christie’s also recently announced that it is expanding its presence in the Middle East with an outpost in Riyadh, the capital of Saudi Arabia— this will be the house’s second location in the region, alongside its Dubai office, which opened in 2005. The Riyadh location will focus on Modern and contemporary Middle Eastern art, as well as jewelry and timepieces, the house said, aiming to draw the kingdom’s wealthy millennials; Saudi Arabia is one of the world’s youngest countries, with roughly 70 percent of the population under the age of 40.

• Saudi Arabia’s big bet on ‘immersive cities’

  Saudi Arabia’s ambitions may sound unrealistic to some, but it is building these cities right now – and architecture and urban design experts who attended the Cityscape Global real estate forum in Riyadh last week say they could be a blueprint for other countries to follow. Several of the $1.25 trillion giga-projects in Vision 2030 will include elements of virtual reality. These include the Mukaab cube, The Line linear city, a winter resort town inside a mountain called The Vault, and esports and gaming districts where international competitions are already being held. Cristina Mateo, a professor at the IE School of Architecture and Design in Madrid, said the government in Riyadh had been innovative in trying to see the world through the eyes of young Saudis – under-30s make up 60 percent of its 32 million population.

• In Saudi Arabia, This Immersive New Hotel Keeps the Ancient Past Alive

  Every night, 1,800 candles and lanterns send shadows dancing across the walls of Dar Tantora The House Hotel, casting the interiors of this extraordinary 30-room property in soft shades of gold. Across the road from a thriving oasis, in the heart of AlUla’s Old Town, Dar Tantora inhabits a labyrinthine cluster of mud-brick and stone houses abandoned in the late 20th century. Their restoration—and subsequent conversion into a hotel—was led by Egyptian architect Shahira Fahmy, whom Phaidon describes as one of the premier “architects building the Arab future.”

• The Fastest Wallet to Eclipse 1 Million Customers Globally – Built in Saudi Arabia

  Saudi Arabian fintech startup, barq, the latest wallet and challenger bank to launch in the Kingdom, has reached a significant milestone by enlisting 1.6 million wallet users and account holders in its first full month of operation. The milestone follows barq’s previous achievement of surpassing one million users in its first 21 days of operation – a remarkable achievement that established barq as the fastest-growing private wallet globally, outside of China. For context, it took Revolut a year to reach 100,000 users, while NuBank and CashApp each gained 10,000 users in their first month.

• Immersive architectural tourism​ іn Saudi Arabia
  Digital tourism reflects a sophisticated strategy tо merge cultural heritage with cutting-edge technology, facilitating virtual access tо sacred sites, historical landmarks, and natural wonders. These efforts showcase Saudi Arabia’s commitment to innovation, as well as its dedication to foster a deeper global appreciation of its cultural and architectural treasures.

• Gamers are competing for a record-breaking $60m prize pool at the Esports World Cup
  The Esports World Cup is underway in Riyadh, Saudi Arabia, with thousands of participants from all corners of the globe competing across 21 games like Call of Duty, League of Legends and Dota 2. CNN’s Eleni Giokos speaks to some of the athletes vying for glory and a life-changing $60 million prize pool.

• Kingdom of Gamers: Saudi Arabia to Host Inaugural Esports Olympiad

  In a groundbreaking move, Saudi Arabia has announced plans to host the first-ever Olympic-style Esports Games in 2025. This historic event will thrust competitive gaming into the global spotlight like never before, solidifying its status as a true mainstream phenomenon. The scope and scale of modern esports has transformed dramatically over the past two decades. What was once considered a niche hobby for socially awkward basement-dwellers is now a multi-billion dollar industry attracting worldwide audiences and elite athletic talent. The time is ripe for esports to take its rightful place alongside classic Olympic sports.

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