SABB, Siemens Sign Deal to Create Smart Building Technology

SABB selected Siemens to supply the services at SABB Tower in Riyadh
SABB selected Siemens to supply the services at SABB Tower in Riyadh
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SABB, Siemens Sign Deal to Create Smart Building Technology

SABB selected Siemens to supply the services at SABB Tower in Riyadh
SABB selected Siemens to supply the services at SABB Tower in Riyadh

The Saudi British Bank (SABB) has signed an agreement with Siemens to provide smart building services for SABB’s new headquarters, making the 30-story tower a model of digitally enabled efficiency, comfort, and sustainability.

SABB selected Siemens to supply the services at SABB Tower in Riyadh. The Siemens solution includes a workplace experience platform with an employee app, an Internet of Things (IoT) sensor network, systems integration and energy analytics.

The agreement supports SABB’s aspirations of becoming a fully digitally enabled bank, making operations at SABB Tower more efficient and enhancing employees’ productivity and well-being. The end result will be an employee-centric and energy-efficient design that can become a model for other buildings in the Kingdom.

“Our ambition is to become Saudi Arabia’s leading, digitally enabled bank and most sought-after employer, and smart building services from Siemens will help us realize this goal,” said Tony Cripps, Managing Director, SABB. “This project will enhance our employee experiences while delivering actionable data about our headquarters and improving operational results.”

“Siemens looks forward to putting workplace technology in the hands of SABB’s employees and facility managers and connecting them in real time to the physical and digital worlds around them,” said Eng. Ahmed Hawsawi, CEO of Siemens Saudi Arabia. “With our holistic approach to integrating smart technologies, we’ll create a simple, efficient, user-friendly and secure environment for the bank’s staff and clients.”



UAE, Australia Sign Comprehensive Economic Partnership Agreement

UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi (L) and Australian Minister for Trade and Tourism and Special Minister of State Don Farrell shake hands during the signing of the Australia-UAE Trade Agreement at Parliament House in Canberra, Australia, 06 November 2024.  EPA/LUKAS COCH
UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi (L) and Australian Minister for Trade and Tourism and Special Minister of State Don Farrell shake hands during the signing of the Australia-UAE Trade Agreement at Parliament House in Canberra, Australia, 06 November 2024. EPA/LUKAS COCH
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UAE, Australia Sign Comprehensive Economic Partnership Agreement

UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi (L) and Australian Minister for Trade and Tourism and Special Minister of State Don Farrell shake hands during the signing of the Australia-UAE Trade Agreement at Parliament House in Canberra, Australia, 06 November 2024.  EPA/LUKAS COCH
UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi (L) and Australian Minister for Trade and Tourism and Special Minister of State Don Farrell shake hands during the signing of the Australia-UAE Trade Agreement at Parliament House in Canberra, Australia, 06 November 2024. EPA/LUKAS COCH

The United Arab Emirates and Australia have signed a Comprehensive Economic Partnership Agreement (CEPA) hat removes or reduces tariffs, lifts barriers to trade and enhances market access, UAE Minister of State for Foreign Trade Thani Al Zeyoudi said on X on Wednesday.

It aims to boost the bilateral trade threefold from $4.23 billion in 2023 to $15 billion by 2032, the minister said.

The UAE and Australia finalized negotiations on CEPA in September.

The signing of the agreement built on the growing economic relations between the UAE and Australia, with bilateral non-oil trade reaching US$2.3 billion in H1 2024, an increase of 10 percent from H1 2023.

The UAE is Australia’s leading trade partner in the Middle East and its 20th largest partner globally. As of 2023, the two countries have also committed a combined $14 billion to each other’s economies, with more than 300 Australian businesses operating in the UAE in sectors such as construction, financial services, agriculture, and education.

A CEPA with Australia will be a significant addition to the UAE's foreign trade network, which is helping to propel non-oil foreign trade towards its target of $1.1 trillion by 2031.