First published: 01-Sep-2025 18:20:51

Shaimaa Hefzy

The board of directors of Batelco Investment and Logistics Company, listed on the Saudi Stock Exchange, has accepted the resignation of Managing Director Mohammed Al-Zamil from his position and appointed Abdulmalik Al-Mudarra as CEO, according to a company statement on Monday.

A quick overview of the company

(According to its location and trading data)

- Batelco Investment was established in 1984 and has been listed since 1991.

- Operating in investment sectors such as logistics, real estate, and smart city solutions.

Its semi-annual revenues grew by 5.5% year-on-year in the first six months of 2025, to SAR 261.2 million ($69.7 million), supported by a jump in real estate investment revenues.

The company's net profit jumped to SAR 14 million in the first half, compared to approximately SAR 850,000 in the same period, supported by higher operating profits and lower financing costs.

New CEO

(According to company data and his LinkedIn account)

- He obtained a Civil Engineering degree from King Saud University in Riyadh in 2017, and has experience in project management.

- He has been the General Manager of Batak Real Estate Company (a subsidiary of Batak) since November 2023.

He has also served as the Managing Director of the Saudi Transport and Investment Company (Mubarrad), a logistics and transportation company, also affiliated with BATIC Investment, since the beginning of 2025.

He will assume the position of CEO of Batec Investment and Logistics Company starting next October.

(Prepared by: Shaimaa Hefzy, for communication: zawya.arabic@lseg.com)

#Economic News

To subscribe to our weekly report, which includes economic and political news developments, register here.