Saudi Fozan, Sakan Sign Agreement to Provide Housing Units for Joodeskan Platform

The program aims to benefit more than 1,000 people in the Eastern Province in Saudi Arabia. (Asharq Al-Awsat)
The program aims to benefit more than 1,000 people in the Eastern Province in Saudi Arabia. (Asharq Al-Awsat)
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Saudi Fozan, Sakan Sign Agreement to Provide Housing Units for Joodeskan Platform

The program aims to benefit more than 1,000 people in the Eastern Province in Saudi Arabia. (Asharq Al-Awsat)
The program aims to benefit more than 1,000 people in the Eastern Province in Saudi Arabia. (Asharq Al-Awsat)

Saudi Fozan signed an agreement with the National Housing Development Organization (Sakan) to provide 178 housing units, valued at $18.1 million, to provide housing solutions to the beneficiaries of the Joodeskan platform.

The program aims to benefit more than 1,000 people in the Eastern Province in Saudi Arabia, in a step that supports achieving the goals of Vision 2030 in empowering the non-profit sector and providing adequate housing for needy families.

Minister of Municipal and Rural Affairs and Housing Majed al-Hogail announced that the national companies give as part of their community initiatives.

Hogail lauded the Fozan program for its societal role in promoting housing stability for the neediest families by donating the project to Joodeskan platform that provides housing units for the beneficiaries included in the al-Fozan Affordable Housing Project.

Joodeskan is under the supervision of the National Housing Development, which aims to support and help needy families in the housing sector.

The platform provides charitable residential donations in a transparent, accurate, and professional manner.

Chairman of the board of Fozan Holding Abdullah bin Abdullatif al-Fozan stressed that this step is a continuation of the program’s role in helping society and meeting its needs in various fields.

Al-Fozan indicated that those in charge of the program believe they have a responsibility towards society, launching and sponsoring initiatives, namely the developmental housing projects that contribute to achieving stability for the beneficiaries and provide sustainable housing solutions for them.

Chairman of the Sakan board Ziad al-Hogail lauded the efforts of members of the Fozan initiative, which is one of the aspects of community partnership and integration between sectors that contributes to improving the services provided to citizens and achieving the goals of Vision 2030 and the Quality of Life Program.



SCAI CEO to Asharq Al-Awsat: AI Boosts Saudi Arabia’s Economic Future

AI is expected to contribute to 12 percent of Saudi Arabia GDP by 2030. (SPA)
AI is expected to contribute to 12 percent of Saudi Arabia GDP by 2030. (SPA)
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SCAI CEO to Asharq Al-Awsat: AI Boosts Saudi Arabia’s Economic Future

AI is expected to contribute to 12 percent of Saudi Arabia GDP by 2030. (SPA)
AI is expected to contribute to 12 percent of Saudi Arabia GDP by 2030. (SPA)

The Saudi Company for Artificial Intelligence (SCAI), wholly owned by the Saudi Public Investment Fund (PIF), is leading efforts to build a world class technological system, paving the way for achieving economic grown driven by artificial intelligence (AI).

Indications show that the sector’s contributions to the Saudi GDP will grow, SCAI CEO George Nazi told Asharq Al-Awsat.

SCAI was established in 2021 as PIF’s arm in the AI and emerging technologies sector. It aims to support PIF’s strategy and national priorities in innovating within the technology sector and positioning Saudi Arabia as a globally competitive hub for advanced technologies.

Nazi stressed that the Saudi economy is witnessing strategic preparations to stay abreast the AI revolution. The preparations are being backed by several parties, led by SCAI, whose investments help in developing technological talents and support AI initiatives in small and medium enterprises.

AI is expected to contribute to 12 percent of Saudi Arabia GDP by 2030 and the AI sector is set to grow at an annual rate of 29 percent, revealed a report by the Saudi Authority for Data and Artificial Intelligence.

Saudi Arabia has achieved global positions in international AI indices. It ranked 14th globally out of 83 countries and the first in the Arab world in the Global AI Index.

Saudi Company for Artificial Intelligence (SCAI) CEO George Nazi. (Asharq Al-Awsat)

In terms of developing digital infrastructure, Nazi said SCAI is helping in finding solid foundations for the growth and prosperity of AI, which would shed light of Saudi Arabia’s readiness for this technological transformation.

Moreover, SCAI supports the Kingdom’s Vision 2030 in dedicating AI capabilities in diversifying and boosting the economy in vital sectors, such as healthcare, energy and education. It is also working on consolidating the AI culture in society.

SCAI is playing a pivotal role in bolstering strategic partnerships with major global technology companies to create an environment that supports innovation in the Kingdom and therefore bolsters its global position as a leading force in the field, added Nazi.

Nazi also highlighted SCAI’s collaboration with the King Abdullah Financial District (KAFD) project that aims to set solutions for smart cities through advanced projects in transportation management.

The partnership is achieving transformative results and developing the smart traffic system that uses AI to smooth and ease traffic, he explained.