Innovest signs MoUs with industry partners to drive homeowner population in KSA

Mohammed Alkhars, chairman of Innovest.
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Updated 18 September 2023
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Innovest signs MoUs with industry partners to drive homeowner population in KSA

Innovest, a premier investment and development company focussed on creating unique lifestyle communities throughout Saudi Arabia, signed several strategic memoranda of understanding at Cityscape Global in Riyadh. The signings are in collaboration with key industry partners — including notable financial institutions, construction companies, global project developers, and real estate investment firms.

The agreements align with the Saudi Vision 2030 principle of boosting the local real estate sector and serve to reaffirm Innovest’s commitment to homebuyers. Through the partnerships, homebuyers throughout the Kingdom will also have the opportunity to benefit through the Sakani Program’s initiatives.

Founded in 2017 by the Saudi Ministry of Housing and the Real Estate Development Fund, the Sakani Program aims to increase the homeownership rate to 70 percent by 2030 by creating new residential units.

Commenting on the signings, Mohammed Alkhars, chairman of Innovest, said: “The establishment of the MoUs with the banks, construction firms, and real estate companies is a significant step forward in Innovest’s mission to equip, empower, and encourage homebuyers throughout the Kingdom. The signings lay the framework for an industry-wide support system designed to guide customers in their homebuying journey and will continue to shape the way in which the real estate sector approaches homebuying in line with the larger Saudi Vision 2030.”

The signings at Cityscape Global follow Innovest’s recent launch of Jadan Communities, located in Riyadh’s Al-Fursan neighborhood.

Jadan Communities offers an affordable, high-quality, residential community that features standalone villas starting at 250 square meters, with modern designs that have been developed using best practices in the industry.

The three-bedroom villas will offer open-plan and contemporary living spaces, with the master bedroom featuring an ensuite bathroom option.

The villas have advanced features, in line with the vision of creating residential units with a smart system that helps save energy, and comprehensive warranties to offer peace of mind.

Strategically situated among open green spaces and walkable areas, citizens will be able to enjoy a fully serviced community featuring high-end facilities and amenities.


Aramco Digital to launch National Industrial Network on 450 MHz band

Updated 12 January 2026
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Aramco Digital to launch National Industrial Network on 450 MHz band

Aramco Digital, the digital and technology arm of Aramco, is preparing to launch its National Industrial Network operating on the 450 MHz spectrum, a network designed to enable secure, resilient, and high-reliability industrial communications across Saudi Arabia. The network has been engineered as a mission-critical industrial infrastructure to deliver high levels of security, flexibility, and reliability to meet the needs of industrial sectors. It provides wide-area coverage with advanced protection standards, supporting operational environments that require continuous performance and dependable connectivity for critical facilities and assets.

“The National Industrial Network has been designed to support the advanced operational requirements of modern industrial environments, aimed at enhancing efficiency, strengthening business continuity, and enabling a new class of highly reliable industrial communications. Together with next-generation mission-critical smart radios, the network aims to help build a future-ready industrial infrastructure that enables real-time data insights, supports industrial digital transformation, and aligns with the ambitions of Saudi Vision 2030,” said Nabil Al-Nuaim, Aramco Digital CEO.

Unlike public networks, the National Industrial Network has been purpose-built for industrial environments, enabling connectivity for critical assets, supply chains, logistics operations, and autonomous mobility systems. The network seeks to elevate smart industrial services, supporting real-time monitoring, automation, enhanced safety, and higher operational efficiency across industrial sectors.

As part of the launch, Aramco Digital plans to introduce an integrated portfolio of industrial digital solutions powered by the 450 MHz network. These include specialized connectivity packages tailored to diverse sector needs, along with a new generation of mission-critical smart radios designed specifically for industrial operations. The devices combine rugged high-performance design and industrial safety compliance with advanced artificial intelligence capabilities, enhanced sensing technologies, extended battery life, and real-time on-device data processing, helping improve accuracy, safety, and operational continuity in complex environments.

The network has also been designed to support a wide spectrum of industrial IoT applications, including asset condition and performance monitoring, fleet tracking, air-quality and environmental sensing, intelligent video monitoring, smart metering, lighting and infrastructure control, as well as mobility and fleet-management solutions. These capabilities enhance operational transparency, automation, and efficiency across both industrial and public sectors.

The National Industrial Network aims to help establish a strong technological foundation for Saudi Arabia’s next industrial phase, contributing to the objectives of Vision 2030 by delivering highly reliable, nationwide industrial connectivity that enables automation, intelligence, and advanced digital services across vital sectors. By developing connectivity solutions aligned with the needs of modern industrial operations, Aramco Digital is helping shape the future of mission-critical digital infrastructure in the Kingdom, moving beyond traditional telecommunications to enable continuous interaction between devices, machines, and AI-powered systems, and strengthening real-time decision-making through edge processing.

The 450 MHz National Industrial Network represents more than an improvement in coverage or performance. It is a strategic step toward smarter, more autonomous, and technology-driven industrial ecosystems that enhance operational excellence and set a new benchmark for advanced digital infrastructure in Saudi Arabia.

With the accelerating pace of digital transformation in the Kingdom, secure and reliable connectivity has become a fundamental pillar in supporting operational requirements and driving economic growth. Organizations across various sectors— including industrial sectors and those enabling future economies — are increasingly relying on advanced connectivity solutions and technologies to enhance safety and reliability, improve operational efficiency, and unlock new horizons for sustainable economic development.