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Huawei in deal to set up giant store in Riyadh

RIYADH, January 16, 2021

Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, has announced the signing of a leasing contract with Kaden Investment that will see the establishment of the largest flagship store for Huawei (outside of China) in Riyadh, Saudi Arabia. 
 
The announcement further cements Huawei’s commitment to Saudi Arabia, where the company has been present for 20 years. 
 
In addition to providing cutting-edge communications technology solutions across a variety of industries, Huawei smartphones are enjoyed by millions of users throughout the kingdom, said a statement from the company.
 
The agreement was recently signed at the Ministry of Investment (MISA) headquarters in Riyadh in the presence of Khalid Al-Falih, Minister of Investment of Saudi Arabia.
 
Lauding the agreement, Al Falih said: "It is a symbol of how long-term and mutually beneficial investment partnerships are vital to Saudi Arabia’s ongoing national development. Huawei is one of the kingdom’s most valued and long-standing digital partners and was ahead of the curve in recognising the investment potential of the kingdom’s telecom sector."
 
The minister also emphasized how attracting investment in critical sectors of the future such as ICT, AI technology, energy and entertainment continues to be key to the kingdom’s future prosperity. 
 
Huawei, he stated, had played an instrumental role in Saudi Arabia’s development, collaborating with government and private enterprises to enhance our nation’s technological infrastructure. 
 
"It continues to share our commitment to talent development, innovation, and ambition, the values which underpin Vision 2030. We look forward to witnessing the progress of today’s exciting new addition to Riyadh’s retail offering and Saudi Arabia’s wider technological landscape," he added.
 
Minister of Communications and Information Technology, Abdullah Bin Amer Al Sawaha said this strategic partnership with Huawei was part of the Saudi Arabia’s efforts to attract international partnerships that strengthen the kingdom's position as a leading investment force in the Middle East and North Africa, a center for innovation and entrepreneurship and a digital hub that connects three continents.
 
On the giant facility, Huawei Tech Investment Saudi Arabia CEO Terry said: "This will provide customers an unprecedented immersive full-scenario experience. Saudi Arabia is an important market for us, and we are dedicated to providing the very best communications technology to the Kingdom, as well as to investing in the growth of the local ICT ecosystem."
 
Affirming the importance of the foreign investment for Riyadh Front, Kaden Investment CEO Abdullah AlFassam said: "We have always focused on providing the best real estate projects that fulfill all needs of the international companies which will enrich Kaden & Riyadh Front customer experience."
 
He also praised the exceptional role of the Ministry of Investment in facilitating this agreement and praised the attention that his excellency the Minister of Investment and his team have put to make this successful agreement happen.
 
Huawei said its new flagship store will offer a rich full-scenario experience, enabling customers to truly experience how ubiquitous connectivity will seamlessly integrate 5G and artificial intelligence (AI) into every aspect of their daily life. 
 
The store will allow Huawei direct access to consumers who have a rapidly increasing demand for cutting-edge digital products and services as Saudi Arabia undergoes a significant digital transformation, driven by Vision 2030, it added.-TradeArabia News Service

 




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