SPARK is managed by a Board of Directors consisting of five Saudi Aramco Executives, chaired by Dr. Mohammed Y. Al Qahtani – a member of Saudi Aramco’s Senior Management. Our Board is responsible for the general oversight of the company’s activities. They play an active role in the development of SPARK to ensure we achieve our strategic objectives. In addition, SPARK has an Audit Committee established by its Board of Directors for the oversight of the organization’s governance, risk management, and internal control practices. This oversight mechanism also serves to provide confidence in the integrity of these practices. The Audit Committee comprises three members from the Board.
At SPARK, we are committed to our investors, and to establishing a framework that empowers our investors and supports them in their ESG commitments as well as driving our ESG program of activities at the same time. As a hub for international investors in Saudi Arabia, a high standard of governance is a key priority. Our management and operating structures are maintained in line with international standards, and the reporting structure of our Board of Directors and management team ensures clear and transparent roles and responsibilities throughout the operation. SPARK’s One-Stop-Shop and Plug-And-Play concept offer help to all investors, helping them document their participation at SPARK every step of the way and demonstrate the value of every dollar of investment.
SPARK has established a framework that oversees risk management practices in the company. Bureau Veritas, a world leader in testing, inspection, and certification, awarded four ISO certificates to SPARK. The gaining of ISO credentials is recognition that SPARK has adopted an integrated management system approach to business risks, including quality, health and safety, and environmental management, protecting the value of the organization’s physical and non-material assets.
SPARK maintains a robust financial management structure, with distinct teams responsible for Treasury, Financial Planning and Analysis, Compliance, Procurment and Accounts. This gives investors the reassurance that a stringent cash management approach is in place, governing the site construction and operations, and in line with international standards.
SPARK has established SPARK Utilities; a limited liability company focused on power, water, and gas utility operations. As the third licensed power utility company in the Kingdom, SPARK Utilities enables SPARK to manage power utilities infrastructure at international standards and meet investor demand.
Located in the city itself and dedicated to serving SPARK investors, SPARK Utilities will provide rapid turnaround to customers’ needs. Providing investors with access to real-time data on power consumption and usage, SPARK Utilities ensures business continuity and smart power usage. SPARK Utilities further delivers on SPARK’s Plug-And-Play promise by providing convenient and reliable access to power and water – an essential factor for investors seeking to base themselves at the heart of the regional energy sector and benefit from an all-inclusive, full-service environment.
SPARK holds sustainability as a core part of the company DNA. It is reflected in the way we operate and manage our business. Sustainability is a tool that sharpens our growth, optimizes our resources, and advances positive engagement with the community. And to achieve these goals, SPARK has developed practices and initiatives that promote sustainability. Consequently, SPARK was the first industrial city in the world to obtain a LEED Silver Certificate in energy leadership and project design.
SPARK continues to win leading industry awards for its green construction techniques and contribution towards creating sustainable, healthier, equitable and resilient buildings, cities and communities.
The Saudi Center for Commercial Arbitration (SCCA) has set up a new branch 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. The arrival of the SCCA branch provides reassurance to SPARK 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.