National Housing Company Invests About $880 Million in Riyadh Data Center

Visitors at the company’s pavilion during LEAP 2026 in Riyadh. (Asharq Al-Awsat)
Visitors at the company’s pavilion during LEAP 2026 in Riyadh. (Asharq Al-Awsat)
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National Housing Company Invests About $880 Million in Riyadh Data Center

Visitors at the company’s pavilion during LEAP 2026 in Riyadh. (Asharq Al-Awsat)
Visitors at the company’s pavilion during LEAP 2026 in Riyadh. (Asharq Al-Awsat)

Saudi Arabia’s National Housing Company (NHC) is expanding its technology investments, moving beyond the development of digital platforms and services to deeper infrastructure and technological capabilities for the real estate sector, including data centers, artificial intelligence, data analytics and geospatial technologies.

The shift comes as the company seeks to reshape the real estate customer journey, from searching for a home and securing financing to ownership and managing related services, through an integrated digital ecosystem supported by data and advanced technologies.

Rayan Alaql, CEO of NHC Innovation, the digital and technology arm of NHC, told Asharq Al-Awsat that the company had evolved from building digital platforms serving specific procedures to developing an integrated technology ecosystem that is reshaping the real estate experience, from searching for a home, financing and ownership to managing interactions with municipal and real estate services.

Investment in technology capabilities

Alaql explained that the company’s technology investments had expanded from platforms and digital services to deeper enabling capabilities, including data, AI, infrastructure, data centers and technologies supporting smart cities.

The data center at Khuzam Digital Valley is part of this strategy, with investments totaling SAR 3.3 billion, or about $880 million, and a target IT load of up to 65 megawatts by 2033.

The center is intended to develop digital infrastructure supporting cloud services and advanced technologies. Its services will include hosting and leasing, managed services, cloud computing and IT, power and connectivity, and value-added services.

To support the center’s readiness and attract global technology partnerships, the company signed cooperation agreements with BytePlus, the technology arm of ByteDance, and NAVER Innovation. The agreements include allocating capacity to the two companies as the first customers of the data center, alongside providing technological services supporting their operations and digital needs.

Serving more than 35 million users

Alaql noted that the company’s platforms serve more than 35 million direct and indirect users, including beneficiaries, entities and partners, through an ecosystem of platforms and digital solutions linked to housing, municipal services and real estate regulation. Users have interacted with more than 15 digital platforms.

He said usage patterns had changed significantly in recent years. Users no longer access a platform merely to complete a procedure, but increasingly rely on it to make decisions, compare options, find suitable services and follow their journey more clearly.

This shift, he added, reflects how the platforms have become part of the sector’s operating infrastructure rather than an additional service channel.

AI in real estate services

Alaql stressed that the company regards AI as a fundamental enabling layer rather than a standalone product, using it to improve the customer experience, enhance recommendations, analyze patterns, facilitate access to appropriate real estate options and provide relevant entities with more accurate insights into the market, demand and services.

He cited the Sakani platform as an example, saying the objective is to help users identify options that most closely match their needs, financial capacity and preferences instead of confronting them with thousands of choices.

The real impact of AI, he added, emerges when it produces tangible results: faster service, clearer decisions, lower operating costs and a fairer, more transparent experience for users.

Data and geospatial technologies

He said the next stage of urban and real estate planning requires a more precise understanding of location, demand, mobility, services and infrastructure, with geospatial technologies and AI helping planners view a city as an interconnected system.

Linking spatial data with information on demand, services, utilities and user behavior can make planning decisions more precise and help identify priorities, including where development is needed, where services should be expanded and where gaps can be reduced.

He added that such tools shorten the time required for studies and analysis, reduce decisions based on subjective impressions and allow authorities and developers to plan with greater confidence.

Partnerships and homeownership

Alaql said global partnerships aim to transfer knowledge, accelerate capacity building, develop solutions applicable to the Saudi market and connect local expertise with leading global technologies.

The company has pursued partnerships in AI, data, data centers and smart cities as part of efforts to build local capabilities and develop products addressing market needs.

On financing and homeownership, he pointed that customers have historically had to navigate multiple entities, numerous decisions and incomplete information.

The company is working to build a more connected journey, beginning with understanding the customer’s needs, presenting appropriate options and facilitating financing through to completing procedures clearly and quickly.

The aim is not merely to move procedures onto a digital platform, he stressed, but to redesign the journey itself through integrated data, clearer options and systems capable of recommendation, verification and matching.

The company participated in LEAP 2026 in Riyadh last week. The official underlined that its participation reflected a new stage in its development, focused not only on showcasing digital solutions but on demonstrating how technology can reshape real estate, support smart cities and build digital infrastructure capable of meeting future needs.

Alaql described LEAP as a platform for highlighting the evolution of the company’s business model from developing digital services to building the technological enablers of the digital economy in real estate and cities.



EU Nations to Hold Emergency Meeting on Soaring Diesel Prices amid US Pressure

FILE -Diesel prices are displayed at a gas station Thursday, Sept. 10, 2026, in Carlsbad, Calif. (AP Photo/Gregory Bull, File)
FILE -Diesel prices are displayed at a gas station Thursday, Sept. 10, 2026, in Carlsbad, Calif. (AP Photo/Gregory Bull, File)
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EU Nations to Hold Emergency Meeting on Soaring Diesel Prices amid US Pressure

FILE -Diesel prices are displayed at a gas station Thursday, Sept. 10, 2026, in Carlsbad, Calif. (AP Photo/Gregory Bull, File)
FILE -Diesel prices are displayed at a gas station Thursday, Sept. 10, 2026, in Carlsbad, Calif. (AP Photo/Gregory Bull, File)

EU nations will meet Friday, aiming to develop a unified response to soaring diesel prices, a day after the US called on its European allies to release strategic reserves "immediately" to stem the crisis.

The emergency meeting between EU member states and the European Commission is scheduled for early in the day, a Commission spokesperson said late Thursday.

Washington is piling on pressure to get European help with fuel costs, with US President Donald Trump on Wednesday floating the possibility of banning diesel exports, said AFP.

EU trade chief Maros Sefcovic told reporters Thursday on the sidelines of the G20 trade ministers gathering in Milwaukee that any move by the US to ban diesel exports would be "unexpected for Europeans."

"It would have very dramatic consequences for our economic performance," Sefcovic said of any potential diesel export ban.

Sefcovic told reporters that he did not go into details with US Trade Representative Jamieson Greer on energy exports at the meeting, but the transatlantic partners "decided to stay in close touch to avoid any surprises here."

- 'Ongoing disruptions' -

Reports said the Trump administration wants France and Germany in particular to tap their stockpiles of diesel to try to curb prices sent soaring by the US war on Iran.

"Our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions," US Treasury Secretary Scott Bessent said in a post on social media.

High energy costs loom as a threat to Trump's Republican party in next month's midterm elections.

"It is in Europe's best interest to work with the United States as we pursue multiple pathways to boost the supply of refined products and lower costs for consumers," a US official told AFP.

At G20 trade talks in Milwaukee, Greer struck a conciliatory tone, saying there was an "eagerness on both sides to work together" on the diesel issue.

And Trump told reporters in Texas on Thursday that he "may" ask European countries to release diesel reserves.

- 'Balanced solutions' -

France's minister delegate for international trade, Nicolas Forissier, told AFP in Milwaukee: "I can't imagine that there will be a ban."

He stressed the importance of diesel to the United States and European countries, adding both sides will "try to find solutions."

"In France, we'll try to find balanced solutions all over the world," Forissier added. "If not with the Americans, it will be with other countries."

Trump on Wednesday said he was still considering a possible ban on US diesel exports, while adding that he thought it could ultimately cause gasoline prices to rise.

"I'm thinking about it," Trump told reporters in the Oval Office.

Speaking alongside Trump, US Energy Secretary Chris Wright said Wednesday that the world would "hear announcements from our friends in Europe" to push diesel prices down.

Asked about a release from strategic reserves, the French presidency said no such demand had been made when Emmanuel Macron and Trump met on the sidelines of the UN General Assembly last week.

Macron would also soon convene a video meeting of G7 leaders "to make progress on the various levers that can be used to address the rising fuel prices... including coordination on releasing reserves."

Macron announced on September 18 a plan for such a meeting. The G7 gathering is expected in mid-October, according to Macron's press office.

Average US diesel prices have surged more than 70 percent to $6.39 a gallon since the start of the Iran war, according to AAA motor club data.

Fuel prices have caused living costs to soar, leaving Trump's Republican Party fearing it could lose control of Congress in November's midterm elections.


IMF Says Lebanon Needs Key Reforms for Program

People walk along the Corniche Al-Manara seafront promenade on the coast of the Mediterranean Sea as the sun sets in Beirut, Lebanon, 30 September 2026. (EPA)
People walk along the Corniche Al-Manara seafront promenade on the coast of the Mediterranean Sea as the sun sets in Beirut, Lebanon, 30 September 2026. (EPA)
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IMF Says Lebanon Needs Key Reforms for Program

People walk along the Corniche Al-Manara seafront promenade on the coast of the Mediterranean Sea as the sun sets in Beirut, Lebanon, 30 September 2026. (EPA)
People walk along the Corniche Al-Manara seafront promenade on the coast of the Mediterranean Sea as the sun sets in Beirut, Lebanon, 30 September 2026. (EPA)

Lebanon must push through a number of key economic and banking sector reforms to secure a new International Monetary Fund program, the Fund said on Thursday.

"It will require continued progress on key reforms, including the entry into force of the bank resolution ‌law, and appropriate ‌financial gap laws ‌consistent ⁠with international standards," IMF ⁠spokesperson Julie Kozack told reporters during a press conference.

She added a 2027 budget and medium-term fiscal framework that were "consistent with debt sustainability for the country" were also ⁠required.

Lebanon first signed a ‌preliminary agreement ‌with the IMF in April 2022, more ‌than two years after its ‌financial system imploded following decades of profligate spending and corruption in the ruling elite.

It recently passed a new ‌banking restructuring law which was welcomed by the IMF, but ⁠this ⁠week Lebanon's President Joseph Aoun quietly referred that law to the country’s constitutional council, triggering a review.

The move has sparked concerns among reformists in Lebanon that the country is backtracking on the key piece of legislation and potentially putting its IMF support hopes at risk.


Riyadh Air Adds Two Flights to London Heathrow, Increases Service to Nine Weekly

Riyadh Air’s first two Dreamliners at King Khalid International Airport in Riyadh, June 5, 2026. (SPA)
Riyadh Air’s first two Dreamliners at King Khalid International Airport in Riyadh, June 5, 2026. (SPA)
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Riyadh Air Adds Two Flights to London Heathrow, Increases Service to Nine Weekly

Riyadh Air’s first two Dreamliners at King Khalid International Airport in Riyadh, June 5, 2026. (SPA)
Riyadh Air’s first two Dreamliners at King Khalid International Airport in Riyadh, June 5, 2026. (SPA)

Riyadh Air, Saudi Arabia’s national carrier, announced on Thursday that it will operate two additional flights between Riyadh and London Heathrow, expanding its service between the two cities to nine times weekly from the current daily service.

Following its successful launch to London Heathrow on June 10, the airline now flies eight aircraft to 14 destinations across Europe, the Middle East, and Asia and aims to be on sale to almost 30 destinations by the end of 2026.

Riyadh Air CEO Tony Douglas said: “Since launching our London service four months ago, we have continued to build our presence in the UK by launching flights to Manchester and now increasing two additional roundtrip flights to Heathrow.”

“The additional flights help us meet the growing demand on this important route while giving guests more choice and flexibility while strengthening the connection between Riyadh and London,” he added.

The additional return services are planned for Monday and Wednesday, with a daytime flight from Riyadh to London followed by an overnight departure to Riyadh and are scheduled to begin on November 2.

The expanded schedule will give guests more options for travel between the two cities, including business trips, short breaks and extended weekends.