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.



China, US Discuss Tariffs, Farm Trade at First Trade Council Meeting

US and Chinese flags are seen in this illustration taken March 20, 2025. (Reuters)
US and Chinese flags are seen in this illustration taken March 20, 2025. (Reuters)
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China, US Discuss Tariffs, Farm Trade at First Trade Council Meeting

US and Chinese flags are seen in this illustration taken March 20, 2025. (Reuters)
US and Chinese flags are seen in this illustration taken March 20, 2025. (Reuters)

China and the United States held their first trade council meeting under a bilateral economic and trade consultation mechanism via ‌video link ‌on Friday, China's ‌commerce ⁠ministry said on ⁠Saturday.

The two sides held "candid, in-depth and constructive discussions" on implementing outcomes ⁠from previous trade consultations, ‌including ‌tariffs, a reciprocal ‌tariff-reduction arrangement involving $30 ‌billion on each side, agricultural trade and other issues of ‌note, the ministry said.

Both sides will ⁠continue ⁠to use the council to address trade concerns, expand cooperation and reduce outstanding issues, it added.


IMF Says More Work Needed on Lebanon Reforms

A man walks past Lebanon's Central Bank headquarters in Beirut on November 10, 2026. (AFP)
A man walks past Lebanon's Central Bank headquarters in Beirut on November 10, 2026. (AFP)
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IMF Says More Work Needed on Lebanon Reforms

A man walks past Lebanon's Central Bank headquarters in Beirut on November 10, 2026. (AFP)
A man walks past Lebanon's Central Bank headquarters in Beirut on November 10, 2026. (AFP)

The International Monetary Fund said on Friday that more work was needed to reach an agreement on restructuring Lebanon's banking sector, one of the steps towards unlocking billions of dollars in financial assistance.

An IMF staff-level agreement reached in April 2022 laid out conditions to unlock assistance, including a law on the distribution of losses in the banking sector, known as the financial gap law, which parliament has still not voted on.

In a statement at the end of meetings that began on Tuesday, the IMF said "there was progress in further clarifying the approaches under consideration by the Banque du Liban (BdL) and the Government regarding banking sector reform, the draft financial regulation law and the recovery of deposits, and aligning them with international standards".

It however noted that "further work is needed to reach an agreement on a strategy for an effective and durable restructuring of Lebanon's banking sector, leading to a sound and resilient system".

The cabinet submitted a draft of the law to parliament in 2025, but the text is contested by the banking sector and political parties, preventing a vote.

Differences over estimates of losses and their distribution have stalled negotiations with the IMF.

In 2022, the government estimated losses resulting from the 2019 financial crisis at around $70 billion, a figure believed to have increased over the last seven years during which the crisis has remained unresolved.

Lebanese Finance Minister Yassin Jaber said during a news conference that he hoped to "achieve progress that would allow us to reach an agreement on a program with the IMF and sign it during the first quarter of next year, and by its end at the latest".

Lebanon's economic crisis, which the World Bank has ranked among the worst since 1850, has deprived depositors of access to all of their funds, destroyed confidence in the banking sector and led to greater reliance on cash liquidity in various economic and commercial activities.


Silver Demand Seen Down 5% This Year Due to Weaker Jewellery Purchases

Silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. (Reuters)
Silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. (Reuters)
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Silver Demand Seen Down 5% This Year Due to Weaker Jewellery Purchases

Silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. (Reuters)
Silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. (Reuters)

Silver demand is expected to fall by 5% in 2026 due to weaker jewellery demand and lower consumption in solar cells, where high prices have accelerated substitution, research showed on Friday.

Research done by consultancy Metals Focus for the Silver Institute puts demand at 1.08 billion troy ounces this year.

Silver, used in jewellery, electronics, electric vehicles and solar panels as well as for investment, is ‌down 59% ‌to $50 an ounce since retail buying drove prices ‌to ⁠a record high ⁠of $121.6 in January.

The base for that rally was created in 2025, when silver surged 147%, as massive inflows of the metal to US inventories due to tariff uncertainty and into silver-backed exchange-traded products (ETPs) tightened liquidity in the London market.

This year, expectations for higher interest rates, a stronger dollar and higher bond yields have weighed on investment ⁠sentiment.

Silver released through ETP selling, outflows from stocks ‌in the US and a smaller ‌market deficit improved liquidity in the physical market, the Silver Institute and ‌consultancy Metals Focus said on Friday.

Metals Focus sees net ETP ‌outflows of 45 million ounces this year after 278 million ounces of inflows in 2025.

As of early November, ETP holdings stood at 1.25 billion ounces.

Industrial demand is expected to fall by 3% in 2026 as installations ‌in photovoltaics have fallen short of expectations, particularly in China, while January's record silver prices accelerated ⁠substitution.

Meanwhile, demand ⁠for jewellery and silverware is forecast to decline by 22% and 17%, respectively, as higher prices and weaker rural spending in India encouraged purchases of smaller, lighter products.

Demand in China and the US is also subdued. Strong retail investment in late 2025 and early 2026 gave way to far more subdued buying from March as silver prices fell, Metals Focus said.

It expects global bar and coin demand to fall 2% this year, with US retail investment hitting its lowest level since 2010.