The Ministry of Communications and Information Technology signed a memorandum of understanding with "Roshon Real Estate Development,» a company wholly owned by the Public Investment Fund, with the aim of supporting, developing, and leveraging the Kingdom’s digital infrastructure and technologies, stimulate and encourage investment in digital infrastructure and technologies, and support an appropriate legislative and regulatory environment to accelerate digital transformation and the development of integrated residential neighborhoods.
The MoU includes other areas of cooperation, such as developing smart digital solutions—including models and applications for smart homes and neighborhoods—and establishing joint plans for their implementation in the company’s units and projects, as well as the development and implementation of modern technology pilots and their specific use cases; working to enable, develop, and build data centers within the scope of the company’s projects; the creation of integrated complexes to attract investment firms and technical research centers, the development of logistics services to support e-commerce, the promotion, innovation, and advancement of digital transformation across the company’s business areas, building neighborhood control centers, and developing digital platforms.
Under the memorandum signed by the Undersecretary of the Ministry of Communications and Infrastructure, Engineer Bassam Al-Bassam, and Roshen Group Chief Operating Officer Sabah Barakat, the two parties will collaborate on a number of issues, foremost among which is stimulating and developing investment plans for digital infrastructure, including infrastructure enabling autonomous vehicles, attracting investment and bringing in international companies in the fields of smart cities and emerging technologies, ensuring technology transfer and localization, as well as developing business models for digital infrastructure development and partnership models with telecommunications companies.
Engineer Al-Bassam explained that the partnership aims to leverage the expertise and capabilities available to both parties in a way that supports the sector’s strategic directions and aligns with the Kingdom’s Vision 2030, noting that it will be more dynamic and effective, with a clear and significant impact on creating a more conducive environment for future projects such as smart homes and neighborhoods, as it encompasses many important elements related to improving quality of life, upgrading smart homes and neighborhoods, anddeveloping digital solutions.
For his part, Barakat explained that the partnership will work to develop an integrated digital ecosystem across all fields, including modern digital infrastructure that meets the aspirations of Roshen community residents.
It is worth noting that the Ministry has established partnerships with numerous relevant entities to enhance integration, cooperation, and the unification of efforts toward achieving the goals of the Kingdom’s Vision 2030, which aims to build a digital society, a digital government, a thriving digital economy, and a better future for the Kingdom.
