Riyadh – Sharikat Mubasher: Elm, the pioneer of digital solutions, announced signing a 10-year partnership agreement with Riyadh Development Company to launch the ‘Electronic Vehicle Auction Platform’ within the “International Development Car Auction”.

This long-term agreement was signed by Mohammad bin Abdulaziz Alomair, Elm's CEO, and Waleed Alkharji, Chief Wholesale Markets Officer at Riyadh Development Company, on the sidelines of the GITEX Global 2024 running until October 18, 2024, in Dubai, according to the company’s press release.

This stride comes in line with the shared vision of both organizations to accelerate digital transformation in vehicle auctions across Saudi Arabia.

The collaboration seeks to operationalize the actual auction ground ‘Auction for International Automotive Reconstruction’ and provide it with all the technical, logistical, and government support.

This will ensure automation and enhance vehicle owners' experience across various categories who wish to sell their vehicles in line with international best practices and Saudi market requirements.

upon this agreement, the two sides will introduce a comprehensive range of solutions to boost operational efficiency and streamline day-to-day auction processes. This will be achieved by providing secure electronic services and facilitating connections between government entities and the private sector.

Commenting on the agreement, Majid bin Saad Al Arifi, the official spokesman and CEO VP of the Marketing Sector at Elm, said: “We are pleased to sign this long-term partnership agreement with Riyadh Development Company and launch the ‘Electronic Vehicle Auction Platform’ as well as offer our cutting-edge digital services and solutions, which we developed as part of our integrated strategy to lead the charge in digital transformation in Saudi Arabia. Through this partnership, we seek to support our government and private sector customers and help them attain greater efficiency and quality in performance.”

Waleed Alkharji, Chief Wholesale Markets Officer at Riyadh Development Company, stated: “This strategic agreement with Elm represents a qualitative step in enhancing the digital transformation of the vehicle auction process. This partnership will contribute to automating operations and raising the efficiency of the services provided, in line with the Saudi Vision 2030, and support our strategic efforts to achieve sustainable growth. We see this cooperation as an opportunity to open new horizons that contribute to developing our services and strengthening our position in the market by adopting the latest technologies that meet the needs of our customers and keep pace with global developments.”