Maraya Hall: The Guinness World Record home to the 41st GCC Summit
January 5, 2021, 12:19 pm

Maraya Hall: The Guinness World Record home to the 41st GCC Summit

A view of the facade of Maraya concert hall hosting the first “Winter at Tantora” music festival in Al-Ula. (File photo: AFP)

The Maraya Concert Hall in AlUla is playing host to the 41st Gulf Cooperation Council (GCC) Summit, with leaders from all six member states of the GCC set to attend.

The 500-seat hall hosting the delegations, Maraya, is also the Guinness World Record holder for the world’s largest mirrored building, with visitors treated to a reflection of the beautiful desert landscape of AlUla.

The special summit this year marks a new shift in relations with Qatar, whose Emir Sheikh Tamim bin Hamad al-Thani arrived on a Qatar Airways plane and was greeted by Saudi Arabia’s Crown Prince Mohammed bin Salman. The event also comes just one day after the Kingdom reopened its airspace and land and sea borders to Qatar, marking an end of a three-year boycott in diplomatic and trade ties between the two countries.

In total 9,740 square meters of mirror make up Maraya, which itself means ‘reflection’ and ‘mirror’ in Arabic.

“It represents a modern architectural masterpiece and can accommodate about five-hundred guests and provides a high-quality sound system,” the Royal Commission for al-Ula has previously said.

Maraya hall at the Winter at Tantora festival

As a concert hall, Maraya has already sought to cement its position as the center of AlUla’s cultural and arts scene. In February 2020, Maraya hosted world-famous musicians during the Winter at Tantora festival.

Acts included a group Iranian singers who performed at Maraya. Shahram Shabpareh, Leila Forouhar, Ebi, Sasy, Shadmehr Aghili, Andy, and Arash Labaf, like other Iranian musicians are banned from performing in their own country of Iran.

An Iranian singer, Ebi Hamedi, sings at the Maraya hall during Tantora festival, in AlUla, Saudi Arabia March 6, 2020. (File photo: Reuters)

“This initiative is in line with the Kingdom of Saudi Arabia's focus on recognizing AlUla as a cradle of diverse civilisations and cultures throughout the ages, and establish the Winter at Tantora Festival as a hub for cultural fusion and a bridge for cultural dialogue, ideas exchange and transmission of culture,” the Royal Commission for al-Ula said at the time.

Maraya hall was upgraded ahead of the Winter at Tantora season, with a raft of structural improvements and renovations, with the aim of creating a large, permanent facility with upgraded acoustics.

AlUla: The home to Maraya hall

The Kingdom’s AlUla contains the UNESCO World Heritage Site of Al Hijr, the first landmark in Saudi Arabia to have been included on the UNESCO list of World Heritage Sites.

Al Hijr is the remains of a 2,000-year-old city founded by an ancient Middle Eastern people in pre-Islamic times. In the first century BC the Nabatean community made Al Hijr their second-largest city, only behind their capital of Petra in modern Jordan.

The site, also known as Madain Saleh, held a strategic location on the ancient trade route in what is now the northwestern AlUla region of Saudi Arabia. It played a key role in the frankincense and myrrh trades.

AlUla, itself is a vast area that covers over 22,500 kilometers, reopened earlier this year to tourists, and has played a central role in the Saudi Arabia’s Vision 2030 plan to boost tourism and diversify the Kingdom’s economy. AlUla is on track to become the world’s largest living museum by 2035.

source: Matthew Amlôt

Image source: AFP

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.