Swvl to Provide Last-Mile Shuttle Services for SAB Bank Following Riyadh Metro Launch
Swvl Holdings Corp (Nasdaq: SWVL) has announced a collaboration with Saudi Awwal Bank (SAB Bank) to provide last-mile shuttle services in Riyadh, Saudi Arabia. The initiative coincides with the launch of the Riyadh Metro, which began operations on December 1, 2024. The service aims to bridge first- and last-mile connectivity gaps by connecting SAB employees to metro stations through shuttle buses.
The Riyadh Metro network features six lines spanning 176 kilometers with 85 stations, including four main stations. Swvl's proprietary technology integrates virtual stops to facilitate seamless access to metro stations, offering an alternative to private vehicles and supporting the city's urban mobility transformation.
Swvl Holdings Corp (Nasdaq: SWVL) ha annunciato una collaborazione con Saudi Awwal Bank (SAB Bank) per fornire servizi di navetta dell'ultimo miglio a Riyadh, Arabia Saudita. L'iniziativa coincide con il lancio della Metropolitana di Riyadh, che ha iniziato le operazioni il 1° dicembre 2024. Il servizio mira a colmare le lacune di connettività tra il primo e l'ultimo miglio collegando i dipendenti di SAB alle stazioni della metropolitana tramite autobus navetta.
La rete della Metropolitana di Riyadh presenta sei linee che si estendono per 176 chilometri con 85 stazioni, comprese quattro stazioni principali. La tecnologia proprietaria di Swvl integra fermate virtuali per facilitare l'accesso senza soluzione di continuità alle stazioni della metropolitana, offrendo un'alternativa ai veicoli privati e supportando la trasformazione della mobilità urbana della città.
Swvl Holdings Corp (Nasdaq: SWVL) ha anunciado una colaboración con Saudi Awwal Bank (SAB Bank) para proporcionar servicios de lanzadera de último kilómetro en Riad, Arabia Saudita. La iniciativa coincide con el lanzamiento del Metro de Riad, que comenzó a operar el 1 de diciembre de 2024. El servicio tiene como objetivo cerrar las brechas de conectividad del primer y último kilómetro al conectar a los empleados de SAB con las estaciones de metro a través de autobuses lanzadera.
La red del Metro de Riad cuenta con seis líneas que abarcan 176 kilómetros con 85 estaciones, incluyendo cuatro estaciones principales. La tecnología propietaria de Swvl integra paradas virtuales para facilitar el acceso sin interrupciones a las estaciones de metro, ofreciendo una alternativa a los vehículos privados y apoyando la transformación de la movilidad urbana de la ciudad.
Swvl Holdings Corp (Nasdaq: SWVL)는 Saudi Awwal Bank (SAB Bank)와 협력하여 사우디 아라비아 리야드에서 마지막 마일 셔틀 서비스를 제공한다고 발표했습니다. 이 이니셔티브는 2024년 12월 1일에 운영을 시작한 리야드 메트로의 출범과 일치합니다. 이 서비스는 SAB 직원들을 셔틀버스를 통해 메트로 역과 연결하여 첫 번째 및 마지막 마일 연결성 격차를 해소하는 것을 목표로 합니다.
리야드 메트로 네트워크는 176킬로미터에 걸쳐 6개 노선을 운영하며 85개 역을 포함하고, 그 중 4개는 주요 역입니다. Swvl의 고유 기술은 메트로 역에 원활하게 접근할 수 있도록 가상 정류장을 통합하여 개인 차량의 대안으로 제공하며 도시의 대중교통 변환을 지원하고 있습니다.
Swvl Holdings Corp (Nasdaq: SWVL) a annoncé une collaboration avec Saudi Awwal Bank (SAB Bank) pour fournir des services de navette de dernier kilomètre à Riyad, en Arabie Saoudite. Cette initiative coïncide avec le lancement du métro de Riyad, qui a commencé ses opérations le 1er décembre 2024. Le service vise à combler les lacunes de connectivité entre le premier et le dernier kilomètre en reliant les employés de SAB aux stations de métro via des bus navette.
Le réseau du métro de Riyad comprend six lignes s'étendant sur 176 kilomètres avec 85 stations, dont quatre stations principales. La technologie propriétaire de Swvl intègre des arrêts virtuels pour faciliter l'accès sans interruption aux stations de métro, offrant une alternative aux véhicules privés et soutenant la transformation de la mobilité urbaine de la ville.
Swvl Holdings Corp (Nasdaq: SWVL) hat eine Zusammenarbeit mit Saudi Awwal Bank (SAB Bank) bekannt gegeben, um in Riyadh, Saudi-Arabien, Shuttle-Dienste für die letzte Meile anzubieten. Die Initiative fällt mit der Eröffnung der Riyadh Metro zusammen, die am 1. Dezember 2024 ihren Betrieb aufgenommen hat. Der Service zielt darauf ab, die Lücken in der Erreichbarkeit von der ersten zur letzten Meile zu schließen, indem Mitarbeiter von SAB über Shuttlebusse mit den U-Bahn-Stationen verbunden werden.
Das Netz der Riyadh Metro umfasst sechs Linien, die sich über 176 Kilometer erstrecken und 85 Stationen umfassen, darunter vier Hauptstationen. Die proprietäre Technologie von Swvl integriert virtuelle Haltestellen, um den nahtlosen Zugang zu den U-Bahn-Stationen zu erleichtern, bietet eine Alternative zu privaten Fahrzeugen und unterstützt die Transformation der urbanen Mobilität der Stadt.
- Strategic partnership with major Saudi financial institution (SAB Bank)
- Integration with newly launched Riyadh Metro system
- Expansion into Saudi Arabian market
- None.
Insights
This collaboration marks a strategic positioning in Riyadh's evolving transportation landscape. The initiative with SAB Bank, while appearing modest in scale, represents a important proof-of-concept for last-mile connectivity solutions in the
The deal's significance lies in its timing and strategic value rather than immediate revenue impact. By securing a contract with SAB Bank, one of Saudi Arabia's major financial institutions, Swvl gains a prominent reference client in the Saudi market. This positions the company favorably for similar contracts with other major corporations and government entities as the metro system expands its reach.
The integration of virtual stops demonstrates technological differentiation in the mobility space, potentially creating barriers to entry for competitors. However, investors should note that while this development aligns with Saudi Vision 2030's urban development goals, the immediate financial impact on Swvl's
The deal's economics present an interesting value proposition. Traditional last-mile solutions often suffer from poor unit economics due to low utilization and high operational costs. However, Swvl's enterprise-focused model, targeting predictable corporate commuter patterns, significantly improves route optimization and asset utilization.
The Riyadh Metro project, serving a city of 7.6 million people, creates a massive addressable market for last-mile services. Conservative estimates suggest the total addressable market for corporate shuttle services could exceed
Key metrics to monitor include route optimization rates, passenger load factors and contract renewal terms. These will indicate the scalability and profitability potential of the model in similar urban markets.
DUBAI, United Arab Emirates, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Swvl Holdings Corp (“Swvl” or the “Company”) (Nasdaq: SWVL), a leading technology provider of enterprise and government mobility solutions, is collaborating with Saudi Awwal Bank (SAB Bank) to launch its last-mile shuttle operations in Riyadh, Saudi Arabia. This initiative builds on the successful launch of the Riyadh Metro and aims to bridge first- and last-mile connectivity gaps, ensuring seamless access for SAB employees to the city's new metro system.
SAB Bank, one of Saudi Arabia’s leading financial institutions, is leveraging Swvl’s first- and last-mile shuttle services to streamline employee commutes. Swvl provides shuttle buses that connect SAB employees to and from the nearest metro stations, ensuring a smooth and enhanced transportation experience.
Powered by Swvl’s proprietary technology, the first- and last-mile shuttle services are designed to address critical connectivity gaps between business hubs and metro stations. By integrating virtual stops, Swvl brings commuters closer to Riyadh Metro stations, eliminating the inconvenience of long walks and ensuring a smooth transition to and from the metro. This service plays a crucial role following the metro launch, as it enhances accessibility, encourages public transport adoption, and provides a reliable, convenient alternative to private vehicles.
The Riyadh Metro has officially commenced operations, marking a significant milestone in the city's urban mobility transformation. The phased launch began on December 1, 2024. This comprehensive network encompasses six lines, covering a total of 176 kilometers and featuring 85 stations, including four main stations. The Riyadh Metro is designed to provide a sustainable, reliable, and efficient alternative to private vehicles, aiming to reduce traffic congestion and enhance connectivity across the capital.
Mostafa Kandil, CEO of Swvl, stated: "We are proud to support Riyadh’s transformation into a world-class urban center through this collaboration with SAB Bank. By addressing the critical first- and last-mile challenges, Swvl provides commuters with smarter and more accessible mobility solutions."
About Swvl
Swvl is a leading provider of technology-driven mobility solutions for enterprises and governments. Its technology enhances transit system efficiency, delivering safer, more reliable, and sustainable transportation solutions.
For additional information about Swvl, please visit www.swvl.com.
Forward-Looking Statements
This press release contains “forward-looking statements'' relating to future events. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future events and other statements that are not historical facts. For example, Swvl is using forward-looking statements when it discusses the continued provision of shuttle buses to SAB employees and the ability to provide commuters with smarter and more accessible mobility solutions. These statements are based on the current expectations of Swvl’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Swvl. These statements are subject to a number of risks and uncertainties regarding Swvl’s business, and actual results may differ materially. In addition, forward-looking statements provide Swvl’s expectations, plans, or forecasts of future events and views as of the date of this communication. Swvl anticipates that subsequent events and developments could cause Swvl’s assessments and projections to change. However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Swvl’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon any forward-looking statements. Except as otherwise required by law, Swvl undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”), which is available on the SEC’s website, www.sec.gov, and in subsequent SEC filings.
Contact
Investor.relations@swvl.com
FAQ
When did the Riyadh Metro begin operations with Swvl's shuttle service integration?
How many stations and lines does the Riyadh Metro system cover?
What services is Swvl (SWVL) providing to SAB Bank in Riyadh?
How does Swvl's technology enhance the metro connectivity in Riyadh?
