{"id":97469,"date":"2025-05-28T00:00:00","date_gmt":"2025-05-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/05\/28\/weride-to-deploy-robotaxis-in-the-kingdom\/"},"modified":"2025-05-28T00:00:00","modified_gmt":"2025-05-28T00:00:00","slug":"weride-to-deploy-robotaxis-in-the-kingdom","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/05\/28\/weride-to-deploy-robotaxis-in-the-kingdom\/","title":{"rendered":"WeRide to deploy Robotaxis in the Kingdom"},"content":{"rendered":"

\n

AUTOMOTIVE-<\/p>\n

<\/strong>Autonomous driving tech <\/strong>firm <\/strong>WeRide<\/a><\/strong> is expanding into the Kingdom<\/strong>, initiating testing and deployment of its Robotaxis and other autonomous driving products in Riyadh and AlUla, it said in a press release<\/a>. Robotaxi trial operations on Uber are set to begin in the coming months, with full commercial services expected later this year.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

AND-<\/strong> The Nasdaq-listed company has already started testing and deploying its Level-4 autonomous Robobuses in King Fahad Medical City, Aramco residential communities, AlUla, and the Ritz-Carlton, Riyadh. Its Robosweeper S1 has also been deployed at King Fahad Medical City, marking the first monetized autonomous sanitation project in the Middle East.<\/p>\n

REMEMBER- <\/strong>Uber CEO Dara Khosrowshah announced at the Saudi-US Investment Summit<\/a> that self-driving cars would launch in Saudi Arabia this year. Earlier this week<\/a>, Uber and Abdul Latif Jameel have partnered to develop a next-gen fleet operations platform in Saudi, including autonomous vehicles (AVs).<\/p>\n

\n

M&A WATCH-<\/p>\n

Sedco H<\/a><\/strong>olding<\/a><\/strong> and <\/strong>Bugshan Investment<\/a><\/strong> s<\/strong>old their JV <\/strong>Arabian Farms<\/a><\/strong> to the UAE\u2019s newly <\/strong>formed <\/strong>Al Ain Farms Group<\/a><\/strong> (AAFG)<\/strong>, according to a p<\/a>ress release<\/a> published yesterday. The sale allows Bugshan Investment, the investment arm of the Bugshan family office, to rebalance its portfolio in favor of high-growth sectors, while Sedco wanted to exit the agricultural sector to focus on core businesses. The value of the transaction was not disclosed.<\/p>\n

About Arabian Farms: <\/strong>Founded in 1978, Arabian Farms produces poultry and eggs for the GCC markets. It is now a part of Al Ain Farms group, which also includes Al Ain Farms, Marmum Dairy, Al Ajban Chicken, and Al Jazira Poultry Farm.<\/p>\n

\n

DEBT WATCH-<\/p>\n

#1- <\/strong>Perfect P<\/a><\/strong>resentation for Commercial Servi<\/a><\/strong>ces<\/a><\/strong> (2P)<\/strong> lined up SAR<\/strong> 73.6 mn in financing <\/strong>from the Saudi National Bank<\/strong>, after raising and renewing a shariah-compliant credit facility, it said in a disclosure to Tadawul<\/a>. The facility \u2014 valid until 30 May 2026 \u2014 is secured in full by promissory notes and will be used to support newly awarded projects, access invoice financing, and issue letters of guarantee and credit.<\/p>\n

#2- Pan Gulf Marketing lined up SAR 70 mn in shariah-compliant credit facilities with Saudi <\/strong>Awwal Bank to help cover its working capital needs<\/strong>, according to a disclosure to Tadawul<\/a>. The one-year funding, backed by a promissory note and a corporate guarantee, will also be used to secure letters of credit, in addition to governmental and non-governmental guarantees.<\/p>\n

\n

REAL ESTATE-<\/p>\n

#1- <\/strong>Rua Al Ma<\/strong>dinah taps US design firm for Madinah\u2019s Dar Al<\/strong> Hijrah project: <\/strong>The PIF\u2019s Rua Al Madinah Holding<\/a> contracted US-based design firm DLR Group<\/a> for the master plan design of the Dar Al Hijrah project in Madinah, aiming to transform the site into a mixed-use urban development spanning around 1 mn sqm, according to a post on X<\/a>. No details on the investment ticket or timeline were disclosed.<\/p>\n

ICYMI- <\/strong>Rua Al Madinah signed two contracts last year<\/a> worth over SAR 300 mn with unnamed \u201cglobal expert houses\u201d for the development of a number of hotels in its landmark project in Madinah.<\/p>\n

\n

#2-<\/strong> Mulkia In<\/a><\/strong>vestment<\/a><\/strong> inked an agreement to <\/strong>acquire Riyadh\u2019s <\/strong>Tuwaiq Residential<\/a><\/strong>Complex<\/a><\/strong> \u2014 the largest residential complex for employees and workers in the city \u2014 on behalf of its Mulkia Tuwaiq Real Estate Fund, according to a press release<\/a> published on Monday. The value of the agreement was not disclosed.<\/p>\n

The acquisition will be funded through shariah-compliant loans and capital raised <\/strong>from investors<\/strong>. Mulkia plans to complete the site\u2019s development and secure the required licensing before selling units. <\/p>\n

The details: <\/strong>The 710.9k sqm complex has over 1 mn sqm of built-up area and includes 214 residential buildings across 52 blocks, 27 plots for commercial and hotel-style use, and supporting infrastructure such as parks, a health center, and a 120-bed private hospital.<\/p>\n

ICYMI-<\/strong> Mulkia Investment signed an agreement last year<\/a> to acquire a mixed-use residential tower in Riyadh for SAR 200 mn in a bid to diversify the geographic distribution of property assets under its Gulf REIT.<\/p>\n","protected":false},"excerpt":{"rendered":"

ALSO- Sedco Holding and Bugshan Investment sell their poultry JV<\/p>\n","protected":false},"author":1,"featured_media":97470,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2564],"tags":[2769,72,54,4299,4298,10,1249,262,2131,4300,76,1115,1464,3874],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-academy-of-learning","tag-alinma-bank","tag-also-on-our-radar","tag-arabian-farms","tag-bugshan-investment","tag-enterpriseam-ksa","tag-mulkia-investment","tag-pan-gulf-marketing","tag-perfect-presentation-2p","tag-rua-al-madinah","tag-saudi-awwal-bank","tag-saudi-national-bank-snb","tag-sedco-holding","tag-weride","wpautop","entry"],"acf":{"mongo_id":"96688cee-67ee-4890-a31f-47de62e04cf3","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/5\/2307.jpg","photo_position":"above","homepage_title":"","full_issue_title":"WeRide to deploy Robotaxis in the Kingdom","related_issue":[97453],"teaser":"ALSO- Sedco Holding and Bugshan Investment sell their poultry JV","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.d94c1a95-ed69-4c0b-a5f6-0e5ee2164ca9.mp3"},"yoast_head":"\nWeRide to deploy Robotaxis in the Kingdom - 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