The Saudi Center for Commercial Arbitration Opens First Branch in the Eastern Province at King Salman Energy Park (SPARK)
DHAHRAN, Sunday, August 16, 2020
Eng. Saif Al Qahtani, President and CEO of King Salman Energy Park (SPARK) and Dr. Hamed bin Hassan Merah, CEO of the Saudi Center for Commercial Arbitration (SCCA), inaugurated today the new SCCA branch at King Salman Energy Park (SPARK), located in Al Khobar. This new branch, which is an addition to SCCA's headquarters in Riyadh and its representative office in King Abdullah Economic City (KAEC), promotes SCCA's strategic plan to expand and support its wide client base.
During the inauguration, which was attended by senior officials from SPARK and SCCA, Eng. Al Qahtani said, “The SCCA branch at SPARK will be a key component of our comprehensive, one-stop-shop service offering. Building on our strategic partnerships with business facilitation enablers such as the SCCA, we are able to provide an attractive environment for those investors.
Eng. Al Qahtani continued: “Joining as an integral part of SPARK’s unified service center, SCCA will contribute to creating a business-friendly environment for both foreign and domestic investment by eliminating obstacles and difficulties related to Alternative Dispute Resolution (ADR)”.
Also commenting at the inauguration Dr. Merah said: “This opening of a SCCA branch in the Eastern Province, specifically at King Salman Energy Park (SPARK), is an extension of SCCA's continued determination to provide requisite professional, transparent and fast ADR - which includes arbitration and mediation - in accordance with international and professional standards and in multiple languages for both local and international parties. This plays a significant role towards achieving the goals of Saudi Vision 2030 by fostering an environment that attracts and supports investment, and further develops institutional arbitration in Saudi Arabia.”
As the only integrated global energy and industrial hub in the region, SPARK enables tenants to base themselves at the heart of the regional energy sector and benefit from being adjacent to other tenants. The arrival of the SCCA branch provides reassurance to investors that their investments will be protected by both local and international law, giving reassurance that SPARK is an environment that protects their assets and helps them manage risk as they grow their business in the Kingdom.
About the Saudi Center for Commercial Arbitration (SCCA):
The Saudi Centre for Commercial Arbitration (SCCA) is a not-for-profit organization established by Cabinet Decree No. 257 dated 14/6/1435 H. – 15/03/2014 G. to administer arbitration procedures in civil and commercial disputes where parties agree to refer their disputes to SCCA arbitration in accordance with applicable laws, judicial, commercial and civil principles. SCCA is the formal representative of Saudi Arabia in local and international arbitration and mediation.
SCCA provides Alternative Dispute Resolution services, including arbitration and mediation. SCCA services are provided in accordance with international and professional standards in Arabic and/or English.
SCCA's headquarters and regional offices are also equipped with state-of-the-art technology to ensure fast and effective dispute resolution. SCCA's staff is trained in the most prestigious international arbitration centers (ICDR-AAA) to ensure that its services are provided in accordance with international best practices.
About King Salman Energy Park (SPARK):
King Salman Energy Park (SPARK) is a fully integrated industrial city under development. Spanning an area of 50 square kilometers in the Eastern Province of Saudi Arabia, SPARK is being developed with a vision to become the leading gateway to the regional energy sector, offering a complete spectrum of services to support business growth in the Kingdom.
SPARK offers infrastructure with international specifications for global investors in mining, crude oil production and refining, petrochemical industries, electric power, and water production and treatment. SPARK will be comprised of five focal areas: industrial area, logistics area, dry port, business area, training area, and residential and commercial areas.
Execution is planned over three phases. SPARK has completed 60 per cent of its first phase which consists of infrastructure, roads, utilities, and real estate assets established across 14 square kilometers which is set to be completed in 2021. In addition to a dedicated three-square kilometer logistics zone and dry port.
The city has already attracted a number of key anchor investors with over 70% of Phase 1 land allocated. As you seek to increase your IKTVA scores with new investments, SPARK will be your destination of choice. www.spark-ksa.com