Saudi Arabia’s Qiddiya Investment Co. and Globant partner in immersive entertainment push

Developing mega projects like Qiddiya is one of the goals outlined in Saudi Arabia’s Vision 2030 program. Supplied
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Updated 03 November 2024
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Saudi Arabia’s Qiddiya Investment Co. and Globant partner in immersive entertainment push

  • Globant will work with QIC to develop the Qiddiya PLAY LIFE Connected Experience
  • Deal to showcase how digital ecosystems can enhance the entertainment and cultural sectors in the Kingdom

RIYAD: Qiddiya Investment Co., wholly owned by Saudi Arabia’s Public Investment Fund, signed an agreement with tech firm Globant to turn Qiddiya City into an immersive hub.

Under the deal, Globant will work with QIC to develop the Qiddiya “PLAY LIFE Connected Experience,” a digital entertainment, sports, and culture ecosystem designed to transform how visitors and residents interact with the destination’s wide range of offerings, according to a press statement. 

Developing mega projects like Qiddiya is one of the goals outlined in Saudi Arabia’s Vision 2030 program, as the Kingdom continues to evolve as a global tourism and entertainment destination. 

“Our partnership with Globant marks a pivotal step in realizing Qiddiya’s vision as the world’s first city dedicated entirely to play. The Qiddiya PLAY LIFE Connected Experience will enhance how visitors engage with our attractions and set a new standard for digital integration in entertainment and tourism,” said Abdulrahman Al-Ali, chief technology officer at QIC. 

He added: “We are creating a destination that is both innovative and unforgettable, and this collaboration will help ensure that every visitor’s journey is personalized, seamless, and truly unique.” 

The press statement said that the PLAY LIFE Connected Experience framework will leverage advanced systems like artificial intelligence, data analytics, and cloud technology to develop an interface that will personalize and enhance every interaction at Qiddiya City. 

The platform will also allow visitors to book events, manage their itineraries, discover new adventures, and engage with the community, all through a personalized, real-time interface. 

“Partnering with Qiddiya on this program is a major milestone for Globant. We are not building a smart city but creating an immersive, digitally connected experience that brings Qiddiya to life in ways that go beyond traditional entertainment. This is the future of how cities and people will interact, and we are thrilled to lead this transformation,” said Federico Pienovi, CEO and chief business officer of new markets at Globant. 

The incorporation of technology in Qiddiya City will showcase how digital ecosystems can enhance the entertainment and cultural sectors in the Kingdom, according to the press statement.

Mamdouh Al-Doubayan, managing director for the Middle East and North Africa at Globant, said the deal will help the Saudi workforce advance in the technological sector. 

“Projects like Qiddiya provide unparalleled opportunities to transfer our expertise in digital transformation and innovation, especially in the entertainment industry, to the new generation of Saudis. As a result of creating opportunities for upskilling and reskilling, we are helping to build the future workforce and enabling the Kingdom to become a leader in digital ecosystems,” said Al-Doubayan.


Closing Bell: Saudi main index slips to close at 11,228 

Updated 15 February 2026
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Closing Bell: Saudi main index slips to close at 11,228 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64. 

The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.    

On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.    

The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.     

The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.  

Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.   

Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56. 

Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55. 

Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34. 

On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier. 

The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.  

Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent. 

United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent. 

Tas’heel ended the session at SR146.80, down 0.28 percent.