Saudi Roundup: AI & Industrial Innovation Take Center Stage at LEAP 2026
This week’s Saudi Roundup provides a quick recap of the key highlights of LEAP 2026, including announcements by a number of international companies expanding operations in the Kingdom.
General Business & Economy
Bahrain Signs Participation Contract for Expo 2030 Riyadh
Bahrain has formally signed its Participation Contract for Expo 2030 Riyadh, marking the next stage in preparations for its presence at the World Expo. The contract establishes the formal framework for Bahrain’s participation, allowing preparations to move forward across the organizational and operational elements of its six-month presence. This includes developing its pavilion, programs, and visitor experiences.
PIF Launches Company to Develop Al-Khafji Into a Coastal Tourism Hub
The Public Investment Fund (PIF) has launched Gulf Coast Development Co. to develop Al-Khafji into a new coastal destination in partnership with private-sector companies and local and regional investors. The development will be delivered in three phases, with the first phase scheduled for completion by 2030. Located near Kuwait and other Gulf markets, the 20-square-kilometer development will feature a 10-kilometer waterfront along the Arabian Gulf.
Saudi Arabia Advances Water Industry Localization With $747 Million Investment
Through the Water Industries and Services Localization Program, the Kingdom has identified 18 investment opportunities aimed at localizing 18 components, covering around 90% of the water industry’s core components. This initiative is expected to strengthen local manufacturing capabilities and support further development of the Kingdom’s water industry.
Ministry of Tourism, WTM Spotlight Riyadh Announce Strategic Partnership for Inaugural Event
WTM Spotlight Riyadh has announced the Ministry of Tourism as the Strategic Partner for its inaugural edition. Taking place from September 8–10, 2026, at the Riyadh Front Exhibition & Conference Center (RFECC), WTM Spotlight Riyadh aims to connect international tourism stakeholders with Saudi Arabia and strengthen the Kingdom’s links with the global travel industry.
LEAP 2026
Saudi Water Infrastructure To Support $119.5 Million Telecom Investment Under New CST License
Saudi Arabia is opening up more of its existing utility infrastructure to the telecommunications sector through a new license expected to support SAR455 million ($121.3 million) in investment. The move will allow the National Water Company (NWC) to make unused network capacity available to licensed telecom operators.
Nokia Launches First Saudi R&D Center To Develop AI-Powered Network Technology
Nokia is expanding its presence in the Kingdom with the launch of its first R&D center in Riyadh. Announced during LEAP 2026, the new center will focus on AI-powered network automation and orchestration software. It will combine Nokia’s global expertise with Saudi talent to develop technologies locally for deployment in the Kingdom and across international markets.
LEAP 2026 Concludes With $15 Billion in Investments and Deals, 2027 Edition Set for April
LEAP 2026 has concluded its fifth edition, bringing together global technology leaders and investors as Saudi Arabia continues to strengthen its position as a major hub for the digital economy and artificial intelligence (AI). The 2026 edition generated nearly $15 billion in announced investments and agreements across AI infrastructure, data centers, cloud computing, technology manufacturing and venture capital.
Zain KSA and DataVolt Sign MoU To Develop Data Centers in Saudi Arabia
Zain KSA, a leading digital services provider, has signed a non-binding Memorandum of Understanding (MoU) with global data center investor, developer, and operator DataVolt to explore the development of data center facilities across Saudi Arabia. Signed during LEAP 2026, the agreement brings together Zain KSA’s telecommunications infrastructure and digital services capabilities with DataVolt’s expertise in developing and operating high-performance data centers.
SABIC, Lenovo Sign MoU To Advance Industrial Innovation in Saudi Arabia
SABIC and Lenovo have signed a Memorandum of Understanding (MoU) to explore strategic collaboration aimed at supporting industrial innovation and the development of advanced technologies in Saudi Arabia and international markets. The MoU, signed on the sidelines of the LEAP Tech Conference, provides a framework for the two companies to identify areas of mutual cooperation, combining their expertise to support industrial development, knowledge transfer, and technological advancement.
Dell Technologies and Armada Sign Strategic MoU To Accelerate Mobile and Edge Data Infrastructure Across Saudi Arabia
Dell Technologies and Armada have signed a Memorandum of Understanding (MoU) to collaborate on delivering containerized mobile and edge data center solutions across Saudi Arabia. Signed during LEAP 2026, the agreement brings together Dell Technologies’ enterprise hardware and modern infrastructure capabilities with Armada’s expertise in mobile, containerized data center solutions.
LG Electronics Saudi Arabia Partners With GAPP To Showcase Next-Generation Intelligent Business Solutions At LEAP 2026
LG Electronics Saudi Arabia (LG) has announced a strategic showcase in partnership with Gulf Applications (GAPP) at LEAP 2026, the region’s leading technology exhibition.
Business Expansions
Veolia Signs Three Strategic Agreements To Accelerate The Kingdom’s Environmental Security
Veolia has signed three strategic memorandums of understanding covering water technologies and hazardous waste management, strengthening cooperation in key areas of environmental services. The agreements establish a framework for collaboration on water technologies and hazardous waste treatment, supporting Saudi Arabia’s Vision 2030 objectives around resource conservation, circular economy development, and decarbonization.
PayTic Expands to Saudi Arabia to Advance AI-Powered Payment Operations
PayTic, a fintech company headquartered in Canada and Morocco that builds AI-powered Intelligent Components for payment operations, has announced its expansion into Saudi Arabia with market entry support from AstroLabs. The expansion marks a key milestone in PayTic’s regional growth as Saudi Arabia continues to build one of the world’s most advanced digital financial ecosystems.
Napster Incorporates in Saudi Arabia, Deepening Its Investment in the Kingdom's AI Economy
Napster, an AI company developing embodied, multimodal agents to expand access to specialized expertise, has officially incorporated in Saudi Arabia, establishing a locally governed legal entity with support from the Ministry of Investment of Saudi Arabia (MISA) and AstroLabs.
The move gives Napster a permanent presence in one of its key markets and formalizes the company’s growing investment in Saudi Arabia and the wider Gulf, where it has been expanding its operations for more than a year.