Sunday 27 May 2018

Mideast IT spending to hit $50bn in '09

Abu Dhabi, June 2, 2009

Information technology spending in the Middle East will reach $50 billion this year with the sector in the Gulf region likely to see double digit growth within three years, an executive said on Tuesday.

'The Middle East will see spending of $50 billion in 2009 in IT with the Gulf region spending about $12 billion,' Ibrahim Lari, chief executive of Abu Dhabi-based Injazat Data Systems told an industry conference.

'In the GCC, the overall IT sector will achieve double digit growth by 2012 at the latest,' he said.

IT spending in the Middle East in 2008 was almost $50 billion, the highest in recent years, and up from around $30 billion in 2007, he said.

Injazat plans to invest at least 200 million dirhams ($54.47 million) in setting up new data centres, the first of which will be in the city of Al-Ain, near the UAE capital.

'In the next stage we are also looking at setting up data centres outside the UAE,' he said without elaborating.

Injazat is a joint venture between Abu Dhabi state-owned Mubadala and Electronic Data Systems. - Reuters

Tags: IT Spending | Middle East |

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