President of Umm Al-Qura University who serves also as the Chairman of Board of Directors of Wadi Makkah Company Dr. Bakri bin M'atooq bin Bakri Assas reviewed plan of the company, fashioned in line with the National Transformation Plan 2020 and the Kingdom Vision 2030, for the coming five years. The meeting that took place at his office in Abdyia campus was  attended by the acting UQU Vice President for Business and Innovation who serves also as the UQU Vice President for Academic Development and Community Service Dr. Hani bin Osman Ghazi and the Chief Executive Officer of Wadi Makkah Company  Dr. Faisal bin Ahmed Al-Alaf.

 
Meanwhile, CEO of the Company Dr. Al-Alaf briefed the attendees on the company's plan for the coming five years saying that it depends on the investment in all fields. To that end, he added  they have  established affiliates companies in the following fields, communication &IT, real estate investments, publishing, printing and distribution besides taking on and accelerating entrepreneurship and consultancy services, in addition to launching 11 startups with more than 23 technical products. He went on to add that the total revenues of the startups amounted to more than SR 15 million indicating that 100 new jobs were created. 

All the more, Dr. Al-Alaf said the vision which the company endeavors to achieve by the year 2022 is to be listed in the Saudi stock market, to invest in 100 startups and to increase the company's market value to more than SR 100 million provided that market sales must exceed geographical borders under the slogan of "Made in Makkah". He lauded UQU President, Chairman of the Company's Board of Directors Dr. Bakri bin M'atooq Assas  for his constant support provided for the company. 

For his part, UQU President said the company endeavors to transfer, localize and develop technology, prepare students to work in the private sector through training, qualification and providing suitable job opportunities,  establish technology incubators and invest in them, invest in the patents and intellectual property rights, attract distinctive competencies including scientists and advisors, provide investment opportunities in scientific research, besides investing in the land allocated for Wadi Makkah project and available lands of the university as well as attracting domestic and foreign investments".         

He added Wadi Makkah is reckoned an investment company totally owned by the university and founded in accordance with a royal decree. "The company aims at contributing significantly to developing knowledge economy depending on partnerships between educational and research institutions with business and investment sector on commercial bases by investing in joint projects to hone expertise and provide practical application for the university students and instructors in line with the National Transformation Plan 2020 and the Kingdom Vision 2030", Dr. Assas expounded.