The One Stop Shop (OSS) at SPARK will be a holistic solution hub for investors that will offer services with the aim of easing the investment journey and set-up experience, all within a single location.
The OSS will support investors as they plan their investment by providing guidance and information, and help investors complete their set-up procedures at SPARK. This includes providing guidance around licensing and permit procedures (for e.g. licensing procedures with Ministry of Investment, or building permits with MODON), and checking and verifying the completeness of investors’ documentation.
The OSS will support investors during the entire operational stage, with needs such as advertising, marketing, transport and logistics, tax procedures and more. The SPARK Utilities company means our tenants will only partner directly with SPARK for their utilities instead of having to handle multiple entities. SPARK has the third license issued in the whole Kingdom to sell power services.
The OSS will also support investors and help in coordinating with different entities such as license renewals with MISA (Ministry of Investment Saudi Arabia), loans with SIDF (Saudi Industrial Development Fund), financial support and entrepreneurship from Wa’ed, workforce with HRDF (Human Resources Development Fund), market demand/trends and localization with IKTVA (In-Kingdom Total Value Add Program), and provide relevant guidance and support.
SPARK has signed a cooperation agreement with Riyad Bank to form the SPARK Enterprises Initiative and the SPARK Business Initiative. This will explore several topics and initiatives, such as SPARK Enterprises, SPARK Pay, SPARK Sustainability and Efficient Spending, and SPARK Scientists, as well as SPARK Business and SPARK Business Enablers, SPARK Local Content, SPARK Think, SPARK Quality of Life, and SPARK Pass. Riyad Bank is one of the major supporters of the Saudi Vision 2030 and its programs, especially through its role in developing and innovating many diverse initiatives specifically designed to support the business enablers of activities related to target sectors and businesses, supply chains, and logistics and support service providers.
In addition, the Saudi Center for Commercial Arbitration (SCCA) will establish their first center in the Eastern Province at SPARK. SCCA will contribute to creating a safe environment that attracts both foreign and domestic investment by eliminating the obstacles and difficulties related to Alternative Dispute Resolution (ADR).
SPARK’s One-Stop-Shop and plug-and-play offerings support all investors, helping them document their participation at SPARK every step of the way and demonstrate the value of every dollar of investment.