LEAP 2025 sees flurry of infrastructure announcements

Redington has operated in the Kingdom for 24 years. Redington
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Updated 11 February 2025
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LEAP 2025 sees flurry of infrastructure announcements

RIYADH: Saudi Arabia’s premier technology event, LEAP 2025, has showcased major investment announcements and strategic collaborations, further cementing the Kingdom’s position as a regional hub for digital transformation.

From large-scale infrastructure projects to artificial intelligence-driven innovations, companies have unveiled commitments that align with the nation’s Vision 2030’s push for technological advancement. 

Redington Commits $533.3m to Saudi expansion 

Redington, a global technology aggregator, announced an SR2 billion ($533.3 million) investment over the next decade to strengthen its presence in Saudi Arabia. 

The funds, sourced from internal accruals, will be used to establish a new headquarters, a smart distribution center, and talent development initiatives. 

The firm, which has operated in the Kingdom for 24 years, delivered $1.5 billion worth of technology in 2024 alone. 

Viswanath Pallasena, the company’s CEO for the Middle East and Africa, said: “We are wholeheartedly committed to Saudi Vision 2030, where technology is a key component to all its three pillars — a vibrant society, a thriving economy, and an ambitious nation. We’re truly dedicated to playing an active role in bringing its transformative goals to life.” 

PIF’s SEVEN and TAWAL to develop digital infrastructure for entertainment destinations 




The partnership was signed by Abdulrahman Al-Ali, chief information technology officer at SEVEN, and Mohammed Al-Haqbani, CEO of TAWAL. SEVEN

Saudi Entertainment Ventures, also known as SEVEN, a subsidiary of Qiddiya Investment Co. backed by the Public Investment Fund, signed a strategic agreement with TAWAL, a Saudi telecommunications infrastructure firm, to establish neutral digital infrastructure across its 21 entertainment destinations. 

The partnership includes the development of internal and external telecom infrastructure featuring indoor coverage systems, multi-band antenna distribution, and neutral communication towers. 

The goal is to enhance 4G and 5G connectivity, support Internet-of-Things applications, and enable advanced digital services for visitors. 

“This partnership marks a significant step in advancing the digital infrastructure of our entertainment destinations, enabling exceptional and seamless experiences for our visitors,” said Abdulrahman Al-Ali, chief information officer at SEVEN. 

Qualcomm and Aramco Digital unveil AI-enabled industrial 5G smartphones 

Qualcomm Technologies and Aramco Digital announced a collaboration to develop the world’s first AI-enabled industrial 5G smartphones with native support for the 450-megahertz spectrum. 

The 450MHz spectrum is a low-frequency band known for its long-range coverage and strong signal penetration, making it ideal for industrial and rural connectivity. It supports IoT, machine-to-machine communication, and private 5G networks, particularly in energy, utilities, and remote operations. 

These devices, powered by Qualcomm’s QCM8550 and QCM6490 processors, will be designed for industrial applications, providing advanced connectivity and data transfer capabilities. 

“At Aramco Digital, we are committed to pushing the boundaries of technological innovation,” said Eid Al-Harbi, connectivity president at Aramco Digital. “By utilizing cutting-edge 5G and AI technologies, we are enabling smarter, more sustainable industry that aligns with the Kingdom’s Vision 2030 and beyond.” 

IBM and Lenovo expand AI collaboration in Saudi Arabia 




Ayman Al-Rashed, regional vice president, IBM Saudi Arabia and Giovanni Di Filippo, president of EMEA, Lenovo, at LEAP 2025. IBM

IBM and Lenovo announced an expansion of their technology partnership to accelerate generative AI adoption in the Kingdom. 

The collaboration will integrate IBM’s watsonx AI portfolio, including the Saudi Data and Artificial Intelligence Authority’s open-source Arabic Large Language Model, with Lenovo’s infrastructure. 

The initiative is expected to help Saudi businesses and government agencies enhance AI-driven decision-making in areas such as fraud detection, public safety, and IT operations. 

Giovanni Di Filippo, president of EMEA Infrastructure Solutions Group at Lenovo, emphasized the significance of the partnership, and said: “We’re pleased to deepen our partnership to bring IBM’s fit-for-purpose generative AI offerings together with Lenovo’s infrastructure solutions to provide customers in Saudi Arabia with solutions designed to meet their unique needs.” 

EDGNEX to deploy 500MW of data center capacity by 2030 

EDGNEX, the digital infrastructure arm of DAMAC Group, revealed plans to roll out 500 megawatts of data center capacity across the Kingdom by 2030, targeting AI and cloud computing demands. 

With existing operations in Riyadh and Dammam, EDGNEX aims to expand its Saudi footprint while engaging local vendors and creating high-value technology and engineering jobs. 

The company’s broader portfolio spans 10 countries, with a projected capacity exceeding 1000MW. 


Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn

Updated 22 February 2026
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Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn

RIYADH: Saudi Arabia’s foreign reserves climbed 3 percent month on month in January to SR1.78 trillion, up SR58.7 billion ($15.6 billion) from December and marking a six-year high.

On an annual basis, the Saudi Central Bank’s net foreign assets rose by 10 percent, equivalent to SR155.8 billion, according to data from the Saudi Central Bank, Argaam reported.

The reserve assets, a crucial indicator of economic stability and external financial strength, comprise several key components.

According to the central bank, also known as SAMA, the Kingdom’s reserves include foreign securities, foreign currency, and bank deposits, as well as its reserve position at the International Monetary Fund, Special Drawing Rights, and monetary gold.

The rise in reserves underscores the strength and liquidity of the Kingdom’s financial position and aligns with Saudi Arabia’s goal of strengthening its financial safety net as it advances economic diversification under Vision 2030.

The value of foreign currency reserves, which represent approximately 95 percent of the total holdings, increased by about 10 percent during January 2026 compared to the same month in 2025, reaching SR1.68 trillion.

The value of the reserve at the IMF increased by 9 percent to reach SR13.1 billion.

Meanwhile, SDRs rose by 5 percent during the period to reach SR80.5 billion.

The Kingdom’s gold reserves remained stable at SR1.62 billion, the same level it has maintained since January 2008.

Saudi Arabia’s foreign reserve assets saw a monthly rise of 5 percent in November, climbing to SR1.74 trillion, according to the Kingdom’s central bank.

Overall, the continued advancement in reserve assets highlights the strength of Saudi Arabia’s fiscal and monetary buffers. These resources support the national currency, help maintain financial system stability, and enhance the country’s ability to navigate global economic volatility.

The sustained accumulation of foreign reserves is a critical pillar of the Kingdom’s economic stability. It directly reinforces investor confidence in the riyal’s peg to the US dollar, a foundational monetary policy, by providing SAMA with ample resources to defend the currency if needed.

Furthermore, this financial buffer enhances the nation’s sovereign credit profile, lowers national borrowing costs, and provides essential fiscal space to navigate global economic volatility while continuing to fund its ambitious Vision 2030 transformation agenda.