Microsoft Says it Aims to Make Saudi Arabia Global Innovation Hub

Turki Badhris, head of Microsoft Arabia (Asharq Al-Awsat)
Turki Badhris, head of Microsoft Arabia (Asharq Al-Awsat)
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Microsoft Says it Aims to Make Saudi Arabia Global Innovation Hub

Turki Badhris, head of Microsoft Arabia (Asharq Al-Awsat)
Turki Badhris, head of Microsoft Arabia (Asharq Al-Awsat)

Microsoft recently announced a major partnership with the Saudi Ministry of Investment under an initiative focused on innovation.

This move aims to push Saudi Arabia to the forefront of global technology, especially in areas like Artificial Intelligence (AI), cloud computing, cybersecurity, and the Internet of Things(IoT).

Turki Badhris, head of Microsoft Arabia, explained in an interview with Asharq Al-Awsat during the “Leap 24” exhibition in Riyadh this month that the initiative aims to introduce over 70 of Microsoft’s partners to Saudi Arabia’s potential.

It also aims to support the Kingdom’s ambition to become a key innovation center in line with its national transformational plan, Vision 2030.

Badhris explained that the initiative aims to showcase the Kingdom’s potential and attract companies and investors with incentives.

This reflects Microsoft’s commitment to being a leader in AI, stressed Badhris.

The planned cloud data center in the Kingdom is expected to spur economic growth and diversification.

Badhris emphasized in his interview with Asharq Al-Awsat that this will contribute to Saudi Arabia's economic growth and diversification, in line with Microsoft’s vision to empower institutions of all sizes across sectors through advanced AI models.

The company’s investments aim to establish a vibrant tech ecosystem, boosting the Kingdom’s status as an innovation and investment hub.

Numerous institutions from various sectors are keen to utilize Microsoft’s cloud data centers to speed up digital transformations and drive innovation.

According to Badhris, these cloud data centers will have a positive impact on the Kingdom's economic growth, with forecasts suggesting that Microsoft, its partners, and cloud users could generate approximately $24 billion in new revenue over the next four years, surpassing 2022 levels.

The fast-paced evolution of cloud technology and AI highlights the crucial need for workforce development across all industries to boost their digital skills and address skill gaps in emerging tech.

Microsoft is actively working to equip the national workforce with the necessary skills for innovation and technology leadership, affirmed Badhris.

He stressed Microsoft’s role in preparing current and future workers in the Kingdom to embrace upcoming innovations and leverage emerging technologies like AI.

Saudi Arabia’s booming startup scene, the largest in the region, saw the birth of approximately 1,500 startups last year alone, buoyed by various government support programs, according to Badhris.

The head of Microsoft Arabia emphasized the company’s dedication to nurturing innovation through collaborations aimed at supporting startups and entrepreneurs.

In a joint effort with the Saudi Ministry of Communications and Information Technology, Microsoft announced the establishment of an Excellence Center in early March.

This initiative aims to equip professionals across the Kingdom with the advanced skills needed to thrive in the digital age and enhance their employability prospects.

Saudi Arabia’s national workforce program has equipped over 108,000 professionals in the Kingdom with the latest digital skills crucial for success in the AI era.

Microsoft, alongside the Ministry of Education, has trained over 250,000 teachers in the past two years and reached 5.6 million students through the “Madrasati” coding program.

Furthermore, more than 70,000 individuals have benefited from Microsoft Learn, completing 18,000 educational paths.



Saudi Arabia Announces Entry into Classification Phase, Real Estate Advertising Is Conditional on FAL License

A panel discussion is held at the Real Estate Brokerage Forum in Riyadh. (SPA)
A panel discussion is held at the Real Estate Brokerage Forum in Riyadh. (SPA)
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Saudi Arabia Announces Entry into Classification Phase, Real Estate Advertising Is Conditional on FAL License

A panel discussion is held at the Real Estate Brokerage Forum in Riyadh. (SPA)
A panel discussion is held at the Real Estate Brokerage Forum in Riyadh. (SPA)

The Saudi government announced during the Real Estate Brokerage Forum, which concluded its activities Sunday in Riyadh, the entry into the real estate classification phase, and the upcoming release of two draft guides for classifying real estate brokerage and marketing establishments and real estate auction establishments through the "Istitlaa" platform.

This aims to develop standards that enhance the clarity of establishment data and raise the quality of practice with the participation of the sector and the public.

The event also witnessed the announcement that real estate advertising will be restricted exclusively to those licensed to practice real estate brokerage and marketing activity through the FAL license.

The event revealed that the number of sales and rental transactions registered since the Real Estate Brokerage Law came into effect in Saudi Arabia has reached more than 13 million transactions, with a total value exceeding 1.6 trillion riyals ($426.6 billion).

These indicators highlight the size of the market in which the system operates, as well as the importance of the licensed broker's role in regulating the relationship between parties, documenting transactions, and enhancing the clarity of practice and service quality.

These figures emerged as the Real Estate General Authority (REGA) concluded the activities of the third edition of the Real Estate Brokerage Forum, marking three years since the Real Estate Brokerage Law came into effect.

The event was held in the presence of Chief Executive Officer of the Authority Engineer Abdullah bin Saud Al-Hammad with the participation of a number of experts, specialists, real estate brokers, brokerage establishments, and individuals interested in the real estate sector.

The forum reviewed the indicators of real estate brokerage activity from the time the law came into effect until the end of last June; the total number of real estate brokerage licenses issued to individuals and establishments reached more than 117,000 licenses, and the number of brokerage contracts reached 1.1 million.

The number of real estate advertisements exceeded 1.2 million advertisements, reflecting the expanding scope of licensed practice and the growing presence of documentation and regulated advertising in the real estate market.

The main session discussed the most significant changes in the real estate market and the tools that enable brokers to keep pace with them, foremost of which are the development of rules and regulations, real estate technologies and artificial intelligence, and changing consumer behavior.

Discussions also tackled the developmental and investment transformations taking place in the Kingdom and their implications for the future of real estate brokerage.

The speakers stressed that real estate rules and regulations have contributed to building a clearer contractual environment that preserves the rights of transacting parties.

They noted that a broker's professionalism is linked to knowledge, speed of execution, compliance with regulations, and understanding the scope of work, projects, and markets in which they operate.

They also said that the advanced digital infrastructure in the Kingdom grants brokers more efficient tools to verify and analyze data and to develop the customer experience.

The forum witnessed the announcement of the real estate brokerage levels track aimed at building a gradual professional qualification journey that raises practitioner readiness and combines regulatory knowledge with applied skills.

The real estate rules and regulations diploma was announced, which is offered by the Saudi Real Estate Institute in cooperation with the Institute of Public Administration. It aims to prepare specialized legal and regulatory competencies that meet the needs of the sector.

A cooperation agreement was signed between the Saudi Real Estate Institute and King Saud University to launch the Real Estate Fellowship Program.

The forum included awareness workshops addressing anti-money laundering and the role of the Saudi Real Estate Arbitration Center in settling real estate disputes.

The forum concluded with honoring the winners of the Real Estate Awareness Award, which aims to stimulate initiatives and programs to enrich specialized real estate content.

The Real Estate Brokerage Forum is held annually in conjunction with the anniversary of the Real Estate Brokerage Law coming into effect. It brings together practitioners, establishments, platforms, and specialists to discuss the profession's updates, exchange experiences, and review tracks and enablers that support the development of practice and elevate the quality of real estate services.


Egypt Says Petrojet-ENPPI Chosen for Oman Project Portfolio Exceeding $6 Billion

The ministry said the ⁠deal was part ‌of Egypt's ‌strategy to support the expansion of ‌petroleum-sector companies abroad ‌and increase exports of engineering and technical services. (AFP)
The ministry said the ⁠deal was part ‌of Egypt's ‌strategy to support the expansion of ‌petroleum-sector companies abroad ‌and increase exports of engineering and technical services. (AFP)
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Egypt Says Petrojet-ENPPI Chosen for Oman Project Portfolio Exceeding $6 Billion

The ministry said the ⁠deal was part ‌of Egypt's ‌strategy to support the expansion of ‌petroleum-sector companies abroad ‌and increase exports of engineering and technical services. (AFP)
The ministry said the ⁠deal was part ‌of Egypt's ‌strategy to support the expansion of ‌petroleum-sector companies abroad ‌and increase exports of engineering and technical services. (AFP)

Egypt's petroleum ministry said on Sunday that a consortium of Petrojet and ENPPI had been selected for a six-year engineering, procurement and construction framework agreement with Petroleum Development Oman covering a portfolio of projects worth ‌more than $6 ‌billion.

The agreement ‌makes ⁠the consortium one ⁠of four global consortiums eligible to bid for projects within the portfolio, according to the ministry.

The ministry said the ⁠deal was part ‌of Egypt's ‌strategy to support the expansion of ‌petroleum-sector companies abroad ‌and increase exports of engineering and technical services.

The consortium is expected to support Oman's ‌in-country value targets through knowledge transfer, training Omani engineers, ⁠and ⁠increasing the participation of local companies and national supply chains, the ministry said.

The ministry said the agreement opened new horizons for partnership between Egypt and Oman in the energy sector.


Caspian Pipeline Consortium Oil Loadings Suspended After Drone Attacks on Tankers, CPC Says

The full moon rises in the background over the infrastructure on D Island, the main processing hub, at the Kashagan offshore oil field in the Caspian sea in western Kazakhstan August 21, 2013. (Reuters)
The full moon rises in the background over the infrastructure on D Island, the main processing hub, at the Kashagan offshore oil field in the Caspian sea in western Kazakhstan August 21, 2013. (Reuters)
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Caspian Pipeline Consortium Oil Loadings Suspended After Drone Attacks on Tankers, CPC Says

The full moon rises in the background over the infrastructure on D Island, the main processing hub, at the Kashagan offshore oil field in the Caspian sea in western Kazakhstan August 21, 2013. (Reuters)
The full moon rises in the background over the infrastructure on D Island, the main processing hub, at the Kashagan offshore oil field in the Caspian sea in western Kazakhstan August 21, 2013. (Reuters)

Two oil tankers were attacked at the Caspian Pipeline Consortium (CPC) terminal off Russia's Black Sea coast, CPC said on Sunday, adding that oil loadings are suspended.

The ASIA and NISSOS IOS ‌tankers were ‌attacked during loading operations, ‌CPC ⁠said.

The ASIA ⁠tanker caught fire, which was extinguished, it added.

"There were no injuries or fatalities amongst CPC staff or contractors. There was no oil ⁠spill," CPC said, adding ‌that ‌the tankers remained afloat.

CPC did not ‌identify any party as ‌responsible for the incident.

The past week has seen a sharp escalation in attacks by ‌both Russia and Ukraine on shipping in the Black ⁠and ⁠Azov seas.

The CPC is a 940-mile (1,510 km) oil pipeline connecting Kazakhstan's Caspian Sea oil deposits with Russia's Black Sea port of Novorossiysk. Oil loaded at Novorossiysk is then taken by tanker to world markets.

CPC accounts for about 80% of Kazakhstan’s oil exports.