HungerStation records milestone achievements in 2025, reinforcing leadership in quick commerce
Al-Damanhouri said that these accomplishments reflect the trust of customers, the strength of strategic partnerships, and the efficiency of the team leading the company's journey toward broader horizons of innovation and sustainable growth in the delivery sector.
In recent months, HungerStation has achieved remarkable results across various fronts, including:
The announcement concluded by affirming that these milestones mark the beginning of a new phase of smart growth and technological innovation, aligned with the goals of Saudi Vision 2030. These achievements further cement HungerStation's role as a pioneering company shaping the future of Saudi Arabia's digital and logistics ecosystem — a future that is being written today, with HungerStation leading the transformation.
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Arab News
an hour ago
- Arab News
Saudi Arabia posts 4 years of VC growth despite global slowdown: report
RIYADH: Saudi Arabia achieved four consecutive years of growth in venture capital relative to its economy, a feat unmatched among its peers, according to a new report. Between 2020 and 2023, the Kingdom was the only large market in the sample to post uninterrupted annual gains in VC intensity, contrasting with the more episodic deal flow seen across Africa and parts of Southeast Asia, MAGNiTT's recently published Macro Meets VC report stated. While 2024 saw a slight contraction in funding amid global tightening, Saudi Arabia's multi-year upward trend signals a sustained commitment to innovation-led diversification. The Kingdom is steadily consolidating its position as a model for policy-driven venture capital development in emerging markets as it seeks to diversify its economy in line with the Vision 2030 blueprint. 'Saudi Arabia is becoming the model for long-term, policy-driven ecosystem building,' the report notes, highlighting that sovereign limited partners and local funds have been instrumental in buffering the Kingdom from some of the volatility that struck other emerging venture markets. Saudi Arabia's policy momentum The MAGNiTT data revealed that Saudi Arabia recorded a five-year average VC-to-GDP ratio of 0.07 percent. Although this figure remains modest compared to more mature hubs like Singapore, its consistent upward movement underscores the growing depth of domestic capital formation. Beyond the headline ratios, the Kingdom's strategic positioning has also come into sharper focus. Saudi Arabia, along with the UAE, is classified as a 'Growth Market'— a designation that reflects not only a sizeable GDP and population but also the rising economic clout of local consumer and enterprise demand. With a GDP approaching $950 billion and a population exceeding 33 million, Saudi Arabia presents a significant scale advantage. According to MAGNiTT's benchmarking, this size creates 'natural expansion targets for startups moving beyond initial launch markets,' supporting both regional and international founders seeking to diversify beyond smaller ecosystems. MENA's uneven progress Across the broader Middle East and North Africa region, venture capital activity has continued to evolve unevenly. The UAE has retained its reputation as a strategic innovation hub and one of the few 'MEGA Markets' in the emerging world, boasting a five-year average VC-to-GDP ratio of 0.20 percent. This proportion — identical to Indonesia's ratio — signifies robust venture activity relative to the economy's size. Yet, while the UAE maintained this level, Saudi Arabia has seen more consistent growth in funding, a dynamic the report attributes to policy-led market development. In Egypt, VC has gained further traction over the period under review. Egypt achieved a 25 percent rise in total funding compared to the previous five-year average, lifting its VC-GDP ratio by 0.02 percentage points to 0.11 percent. Although Egypt's overall economic constraints remain acute — GDP per capita still lags below $10,000 — the relative progress suggests improving investor confidence, particularly in fintech and e-commerce. However, the report cautions that deal flow in Egypt, much like in Nigeria, remains fragile and prone to episodic swings driven by a handful of large transactions. The macroeconomic context across MENA has also been influential. Elevated oil price volatility and the impact of the Israel–Iran conflict have created a challenging backdrop for policymakers. Brent crude surged more than 13 percent in a single day earlier in 2025, underscoring the region's exposure to external shocks. Nevertheless, both Saudi Arabia and the UAE managed to maintain monetary policy stability in line with the US Federal Reserve's cautious stance. Saudi Arabia kept its benchmark rate at 5.5 percent, supported by inflation trending around 2 percent, while the UAE held steady at 4.4 percent. These decisions reflected a delicate balance between containing price pressures and supporting economic diversification efforts. Overall, MENA's five-year aggregate venture funding reached $12.52 billion. Although this total remains well below the levels seen in more mature regions, it represents a meaningful share of emerging markets capital. MENA also posted the highest deal count relative to its peers in Southeast Asia and Africa over the period, indicating a broader base of early-stage transactions even as late-stage funding remains more limited. The report emphasizes that expanding geographic and sectoral reach within MENA will be critical to boosting efficiency metrics. 'VC remains heavily concentrated in a few sectors and cities,' the report observes, warning that without broader inclusion, capital intensity will struggle to match potential. Southeast Asia's VC benchmark Beyond MENA, Southeast Asia's ecosystem stands out as the most mature among emerging venture markets, driven primarily by Singapore's exceptional performance. Over the 2020–2024 period, Singapore achieved a 5-year average VC-to-GDP ratio of 1.3 percent, surpassing not only all emerging markets but also developed economies such as the US, which registered 0.79 percent, and the UK, with 0.73 percent. Even with a 5.4 percent decline in total funding compared to the prior five years and a 0.19 percentage point drop in VC-GDP ratio, Singapore maintained unmatched capital efficiency. The report describes the city-state as 'a benchmark for capital efficiency in venture ecosystems,' attributing this strength to strong regulatory frameworks, institutional capital participation, and a deep bench of experienced founders and investors. Indonesia, Southeast Asia's largest economy, recorded total VC funding volumes nearly twice as large as Singapore's over five years, but its relative VC-GDP ratio remained lower at 0.2 percent. This dynamic illustrates one of the report's core findings: venture capital inflows correlate more strongly with GDP per capita than total GDP. In Indonesia's case, while its GDP surpassed $1.2 trillion, GDP per capita hovered around $4,000, constraining purchasing power and, by extension, startup revenue potential. Thailand, meanwhile, reported funding gains due mainly to a single mega deal rather than systematic improvements in ecosystem depth. In Africa, Nigeria emerged as an unexpected bright spot in 2024, as a single major transaction lifted its VC-GDP ratio to 0.15 percent — the highest in the region for that year. However, this outlier result also revealed the episodic nature of capital deployment in developing markets. Kenya registered a relatively high five-year VC-GDP ratio of 0.3 percent, even as absolute funding volumes remained modest. The report notes that in low-GDP contexts, this ratio can overstate ecosystem maturity. South Africa and Egypt showed more modest growth trajectories, weighed down by persistent inflation, structural constraints, and capital scarcity. In aggregate, African economies continued to lag both Southeast Asia and MENA in total venture funding and deal velocity. Global challenges ahead Globally, the five years covered by the report were marked by intensifying volatility. High interest rates, trade tensions, and geopolitical uncertainty weighed on capital flows. The US Federal Reserve held its policy rate between 4.25 percent and 4.5 percent through mid-2025, citing 'meaningful' inflation risks. The European Central Bank moved to lower its deposit rate to 2 percent, reflecting cooling inflation but acknowledging sluggish growth. The World Bank cut its global GDP forecast for 2025 to 2.3 percent, the weakest pace since the 2008 crisis, excluding recessions. These headwinds contributed to the decline in venture capital across most emerging markets in 2024. In response, sovereign capital and strategic investors have become increasingly important backstops. The report highlights that domestic capital formation in MENA has partially offset declining global risk appetite. However, these funds tend to be slower moving, more sector-concentrated, and less risk-tolerant than international investors. 'Without renewed foreign inflows or regional exit pathways, deal velocity may remain muted into the second half of 2025,' the report warns. This environment is likely to force startups to extend runway and compel general partners to adopt more selective deployment strategies. Despite the challenges, the outlook for Saudi Arabia and other growth markets remains constructive over the medium term. The Kingdom's policy clarity, deepening institutional capital pools, and Vision 2030 commitments create a foundation for continued expansion. As the report concludes: 'High GDP markets like KSA and Indonesia trail in VC efficiency — suggesting capital underutilization.' Closing this gap between potential and realized funding will be the defining challenge for emerging ecosystems as they navigate a turbulent global landscape.
Arab News
an hour ago
- Arab News
Saudi luxury brand Lavish Concepts opens London atelier
LONDON: On June 26, the luxury lifestyle brand Lavish Concepts, founded by Saudi businesswomen Nada Altobaishi and Hala Al-Sharekh, opened an atelier in Chiswick, London. Described as 'a slow, salon-style shopping experience,' the atelier showcases a carefully curated selection of fashion, jewelry and objets d'art that blend artisanal skill, cultural heritage and contemporary design. It is the first permanent home for Lavish Concepts, which has previously only staged temporary pop-ups in the UK capital. 'We wanted to reframe how people experience luxury: less noise, more nuance,' Altobaishi tells Arab News. 'The Chiswick Atelier captures that in every detail. It's not about volume; it's about storytelling and voice.' Lavish Concepts' co-founders Nada Altobaishi and Hala Al-Sharekh in their new London atelier on its launch night. (Supplied) Nine Saudi brands are featured, including Dalsh Designs, Herfah, Yarakech, and Qormuz. The wider lineup also includes products from brands originating in the UK, US, UAE, Oman, Morocco and Jordan. 'Each selection is deeply intentional. With the Saudi brands, we looked for designers who are redefining heritage — not discarding it — and reworking it into something unapologetically current and wearable,' Al-Sharekh, officially designated as Lavish Concepts' 'brand visionary,' says. Positioning Lavish Atelier as a 'slow, salon-style' space rather than a conventional boutique was a deliberate decision on the part of its founders. 'The stories behind these pieces and our partner brands deserve more than a passing glance,' says Altobaishi. 'We wanted a space that encourages pause; a place where conversation and great craftsmanship are given equal weight.' The pair's Saudi identity shapes every element of the atelier, says Al-Sharekh. 'From the aesthetics to the hospitality, the way we curate is always filtered through a very Saudi sense of meaning and memory.' So far, Lavish Concepts has yet to stage an event in Saudi Arabia, but plans are in place to do so within the next 18 months, the founders say. Meanwhile, they hope that visitors to this new permanent home in London will walk away with a deeper appreciation of the craftsmanship and cultural richness behind each piece. 'This isn't just an event, it's an invitation to participate in the Lavish lifestyle. We hope people leave feeling like they've stepped into a slower, more considered rhythm, one that stays with them well beyond the double doors,' Altobaishi concludes.
Arab News
an hour ago
- Arab News
Pakistan to use $1.4 billion IMF climate loan to expand green investment, fiscal space
KARACHI: Pakistan will use a $1.4 billion loan from the International Monetary Fund's climate resilience fund to expand fiscal space, embed climate planning into public investment decisions and unlock private-sector capital for green projects, the IMF said on Friday. The financing, approved by the IMF's Executive Board in May under its Resilience and Sustainability Facility (RSF), is part of a broader reform program that aims to help Pakistan adapt to increasingly frequent and devastating climate shocks. Pakistan is the first country in the Middle East and Central Asia region to access the IMF's Resilience and Sustainability Facility. The fund was launched in 2022 to help climate-vulnerable low- and middle-income countries make the structural changes needed to protect their economies and populations. 'The RSF will help build climate resilience in Pakistan by creating fiscal space to address climate vulnerabilities, such as the need to improve climate-resilient adaptation infrastructure,' Mahir Binici, the IMF's resident representative in Pakistan, told Arab News in a written response. 'It will also boost climate's prominence in public investment management and budget processes,' he said, 'helping Pakistan better identify and target projects needed to strengthen resilience to climate shocks.' A third pillar of the reforms, Binici said, is improving the overall 'enabling environment for green investment' so that banks and private firms could incorporate climate-related risk considerations into their risk management and investment activities. The RSF financing will be disbursed over a 28-month period and runs alongside Pakistan's $7 billion Extended Fund Facility (EFF), whose first review was also approved in May, releasing roughly $1 billion in immediate support. CLIMATE-FINANCE GAP Pakistan, one of the world's most climate-vulnerable countries, has long struggled to align its public finances with the scale of climate risk it faces. The 2022 floods alone affected over 33 million people and caused more than $30 billion in damages and economic losses. By reforming how climate priorities are reflected in budget planning and investment screening, the IMF says Pakistan will be better equipped to attract funding and respond to future disasters. The RSF does not fund individual infrastructure projects. Instead, it supports 'policy and institutional reforms that make climate action more effective,' Binici explained. These include reforms in disaster coordination, water and irrigation infrastructure, and provincial implementation capacity. Binici said the IMF program supports better coordination between the federal and provincial governments on disaster risk financing, a chronic weakness in past emergency responses, and policy changes that would strengthen water and irrigation management. 'Policy reforms that directly target Pakistan's water management and irrigation infrastructure would help make farmers more resilient to climate shocks,' he said, adding the focus would be on improving irrigation service standards, reliability, and water supply adequacy. The reforms also aim to reduce waterlogging, salinity, groundwater depletion, and growing water insecurity, issues that disproportionately impact poor rural communities. The IMF said its climate program in Pakistan takes a 'whole-of-government' approach, with many reforms to be implemented at the provincial level. 'Much of the focus is on improving coordination mechanisms between the federal government and the provinces,' Binici said.
