Lamar Holding pledges funds and expertise to back Aramco’s SME-boosting initiative


RIYADH: Lamar Holding will provide any financial support needed to ensure Aramco’s program to boost the small and medium enterprises sector in Saudi Arabia is a success, the firm’s managing director has told Arab News.

Hani Abdelhadi said his Saudi-based company — an investment and development platform that delivers public private partnerships and innovative startups to the region — is keen to back Aramco’s Taleed Program, which aims to provide funding and financial solutions to existing and new businesses through five funds.

Setting out the help Lamar Holding can offer, Abdelhadi told Arab News: “It can be equity, it can be debt, it can be any sort of financial support that is needed, technical support, expertise regionally.”

“The program is more to help companies grow, not just from the financial side, but also from the setup and technical side, as well,” he added.

Hani Abdelhadi (Supplied)

With capital of over SR3 billion ($800 million), the Taleed Program targets sustainable growth of SMEs across multiple sectors through a portfolio of 20 initiatives, providing a wide range of support from capability building and strategy development to training, market access, advisory services and business planning.

Speaking of Lamar’s latest projects with Aramco, Abdelhadi said they are currently doing the East-West residential compound for the oil major.

He added that the company is also involved with the Saudi government on its large PPP programs.