NEOM’s tech firm TONOMUS launches first digital communications facility at Oxagon 

This facility site spans an area of 18,000 sq. meters, with a two-floor office building with a capacity to host 150 personnel. (Supplied)
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Updated 18 July 2023
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NEOM’s tech firm TONOMUS launches first digital communications facility at Oxagon 

RIYADH: Saudi Arabia’s future city NEOM is up for a major technological upgradation as its cognitive tech firm TONOMUS has opened the first digital communications facility at Oxagon to enhance the availability and growth of data center, 5G, satellite and fiber cable network connectivity. 

In an interview with Arab News, Joseph Bradley, CEO of TONOMUS, said that the new facility named, TONOMUS.NEOM Telecommunications Center, will help the firm emerge as a world-leading cognitive technology and digital infrastructure enterprise.   

“Demonstrating the rapid development taking place across the wider NEOM region, the facility will serve the ICT needs of its residents and businesses,” Bradley said.   

He added: “It (digital communications facility) provides access to reliable, high-speed communication solutions, enabling individuals and businesses to stay connected. It also ensures that NEOM has a seamless, sustainable and uninterrupted connectivity experience tailored to the demands and use cases of a cutting-edge cognitive region.”

According to Bradley, the new facility is expected to provide a software-driven network in NEOM which will serve up to 60 locations, 1,800 structures, and 200 million Internet of Things devices by 2030.  

This facility site spans an area of 18,000 sq. meters, with a two-floor office building with a capacity to host 150 personnel.   

“This center will play a part in realizing our vision for a smart, cutting-edge region that prioritizes livability, where infrastructure and services are designed to give people time back to live their lives to the fullest. It will raise competitiveness in the global ICT industry and support both businesses and individuals who will call NEOM home,” said Nadhmi Al-Nasr, CEO of NEOM.

Bradley further pointed out that the new digital communications facility will connect NEOM to the world with the usage of advanced telecommunications space and subsea connectivity to Asia, Europe and Africa.   

“It will power the cognitive region by connecting all of NEOM’s smart features, managing the flow of data, and enabling the processing of information,” he said.

Bradley added: “TONOMUS and groundbreaking infrastructure projects such as the TONOMUS.NEOM Telecommunications Center represent a blueprint for expansion, enabling NEOM’s goal of becoming an economic engine for the region and the world.”


Closing Bell: Saudi main index slips to close at 10,588 

Updated 14 December 2025
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Closing Bell: Saudi main index slips to close at 10,588 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 127.15 points, or 1.19 percent, to close at 10,588.83. 

The total trading turnover of the benchmark index was SR2.57 billion ($685 million), as 28 of the stocks advanced and 232 retreated.    

Similarly, the Kingdom’s parallel market Nomu lost 108.53 points, or 0.46 percent, to close at 23,719.13. This comes as 22 of the stocks advanced while 47 retreated.    

The MSCI Tadawul Index lost 17.17 points, or 1.22 percent, to close at 1,393.34.     

The best-performing stock of the day was Sport Clubs Co., whose share price surged 3.69 percent to SR9.00.   

Other top performers included Flynas Co., whose share price rose 2.55 percent to SR72.30, as well as National Industrialization Co., whose share price surged 2.13 percent to SR10.09. 

Consolidated Grunenfelder Saady Holding Co. recorded the most significant drop, falling 6.61 percent to SR8.90. 

Sustained Infrastructure Holding Co. also saw its stock prices fall 5.75 percent to SR30.82. 

CHUBB Arabia Cooperative Insurance Co. also saw its stock prices decline 5.72 percent to SR22.40. 

On the announcements front, Wataniya Insurance Co. said it has received a notice of award for a one-year contract with Saudi National Bank to provide general insurance as well as protection and savings insurance services, in line with agreed terms and conditions. 

According to a Tadawul statement, coverage will begin on Jan. 1, 2026. The contract value exceeds 15 percent of the company’s total revenues, based on its latest audited financial statements for 2024.  

Wataniya Insurance Co. ended the session at SR14.35, up 1.92 percent. 

Fawaz Abdulaziz Alhokair Co., or Cenomi Retail, has announced executing a SR1.5 billion facility agreement structured as a short-term loan with Emirates NBD – Kingdom of Saudi Arabia. A bourse filing revealed that the financing duration is three years with an option to extend for a total of two years. 

Cenomi Retail ended the session at SR20.00, up 0.26 percent. 

First Milling Co. has announced the Board of Directors’ recommendation to amend the firm’s bylaws Article “Company Management” to increase the number of board members from seven to eight. This change reflects the firm’s commitment to broadening the range of expertise and skills on its board, in line with its growth and expansion plans for the next phase. 

The company reiterated its commitment to fulfilling all necessary procedures and obtaining approvals from the relevant authorities. The recommendation will be submitted to the upcoming General Assembly, with the date to be announced in due course. 

First Milling Co. ended the session at SR49.22, down 1.06 percent.