Saudi Arabia’s groundbreaking $500 billion Neom mega-project has announced a $5 billion agreement to build what it claims will be the world’s first fully sustainable data center.
The ambitious project, a collaboration with Saudi IT and technology company DataVolt, will be located at Oxagon, Neom’s cutting-edge industrial city. The first phase of the data center will boast a capacity of 1.5 gigawatts and is expected to become operational in 2028.
This announcement was the centerpiece of investment deals worth $7.5 billion signed during the second day of the Leap technology conference in Riyadh, a key global event aimed at accelerating digital transformation in the Kingdom.
A Tech Boom in the Heart of Saudi Arabia
Leap 2024 is shaping up to be a landmark moment for Saudi Arabia’s technology sector. On the first day alone, deals totaling nearly $15 billion were revealed, including the establishment of a Lenovo computer factory in Riyadh—a major milestone for the country’s push towards local manufacturing and tech innovation.
Among the other high-impact agreements announced during the event:
Saudi tech firm Alfanar committed $1.4 billion to build four data centers with a total capacity of 88 megawatts.
Telecom giant Mobily pledged $911 million for infrastructure development, including investments in submarine cables.
Zoom Communications, the US-based tech leader, plans to invest $75 million in AI-driven projects in Saudi Arabia.
Saudi Railways signed a $51 million deal to install fiber optic cables, strengthening the Kingdom’s digital connectivity.
German company SkyFive announced a $100 million investment in non-terrestrial communication networks, further enhancing Saudi Arabia’s telecom and aerospace technology capabilities.
A Bold Vision for a Digital Future
The Leap conference, running from Sunday to Wednesday, is backed by the Saudi government as part of a broader effort to accelerate economic diversification beyond oil.
With Neom leading the charge in futuristic developments and Saudi Arabia making record-breaking investments in tech infrastructure, the Kingdom is solidifying its position as a global technology hub.
