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An Oracle official said: The company plans to invest $ 1.5 billion in Saudi Arabia in the coming years, as it builds its cloud footprint in the kingdom and opens its third public computing district in Riyadh.
Increased demand for cloud computing has prompted technology companies such as Oracle, Microsoft, Amazon and Alphabet, which owns Google, to build data centers around the world to speed up data transfer.
Nick Redshaw, Vice President of Oracle, said during an interview with «Reuters» in Dubai: «We are putting the final touches on plans to open in the Riyadh region. We are still cooperating with our suppliers before we can announce the actual date.”
He added that the investment would be over a period of years, without giving details. And he added that Oracle is also expanding the capacity of its cloud region in Jeddah, which the company started operating for the first time in 2020. The company announced this during a gathering of international technology companies at a major conference for the sector in the Saudi capital.
Although Oracle is lagging behind other large competitors in the race to dominate the cloud computing market, it was one of the first large technology companies to open a data center in Saudi Arabia.
“We are working closely with the Saudi government to finalize plans for the regional headquarters requirements and we will announce them when we are done with them,” Redshaw said.
Oracle also won contracts for the $500 billion NEOM project, which includes a futuristic mega-city and industrial zone, and is being built under the auspices of the Saudi crown prince on the Red Sea coast. Redshaw mentioned that NEOM is one of the largest consumers of cloud capabilities in Saudi Arabia.
