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EXPANSION-
#1- Homegrown dining platform SPICE launched in the Kingdom as a first-of-its-kind service that helps restaurants grow without taking debt or giving up ownership, according to a press release. The platform offers what it calls “dining capital,” providing upfront funding to restaurants while connecting diners to curated, high-end venues through its app, which also offers reservations, rewards, and personalized recommendations. SPICE is rolling out in Riyadh before expanding to the UAE, other GCC countries, and Europe, with its app initially available by invitation only.
The minds behind SPICE: The platform was founded by Zeid Husban (LinkedIn), Walid Hawi (LinkedIn), and Yousef Sawalha (LinkedIn), who previously built ifood.jo and POSRocket.
#2- UK-based Esports and gaming company ESL FACEIT Group opened its new regional headquarters and esports venue in Riyadh, according to a press release. The 1k sqm facility can host over 500 people and includes 300 square meters of LED screens for tournaments, broadcasts, and events. The new hub will serve as a base for regional and international competitions such as the ESL Saudi Challenge.
HEALTHCARE-
Saudi’s Value Makers Studio deployed a “strategic investment” into psychological support and online therapy platform Arab Therapy to support its expansion into the Kingdom, according to a press release (pdf). The move came during the Global Health Exhibition, which also witnessed Arab Therapy secure a telemedicine license form the Health Ministry. The expansion will also contribute to launching the first Arabic AI-powered mental health assistant.
About Arab Therapy: Founded in 2021 by Tareq Dalbah (LinkedIn) in Germany’s capital, Berlin, the online platform serves clients in over 42 countries.
MANUFACTURING-
Hanwha Power Systems inked a lease contract to establish about 11.6k sqm compressor packaging and service center in Aramco’s King Salman Energy Park (Spark), it said in a press release yesterday. Financial details remain undisclosed. Construction works will kick off in Q1 2026, while operations commencing in Q1 2027. The agreement was signed during Abu Dhabi’s Adipec 2025.
