Riyadh AI goals require colossal mindset and capital shift
13 September 2024
The ongoing Global AI (Gain) summit in Riyadh is not short on showmanship. Event-branded cars and coaches ferry delegates between their hotels and the car park of the Diplomatic Quarter, where golf carts driven by enthusiastic, cheerful young Saudis await to take them to the chandelier-laden King Abdulaziz International Convention Centre.
The chassis of a luxury electric vehicle from Lucid, which is majority owned by the Public Investment Fund (PIF) and a bright yellow canine-like mobile thermal camera from Boston Dynamics are some of the top crowd drawers at the show, which thousands are attending.
The opening performance of a young Saudi named Omar of the late John Lennon's provocative song Imagine enthralled the audience, composed mainly and albeit ironically of established technology suppliers, startups and venture capitalists looking to create a business or bring home deals out of Saudi Arabia's outsized AI fervour, driven mainly by the need to drive efficiency and foster new industries post-oil.
Abdullah Al-Sharif Alghamdi, president of event proponent Saudi Data and AI Authority (SDAIA) – pronounced Sadaya locally – underscored the kingdom's desire to influence the development of global AI standards, ethics and regulations.
Saudi Arabia ascended the 39-member UN Advisory Body on Artificial Intelligence last year. SDAIA has also established the International Centre for AI Research & Ethics (ICAIRE), which is being classified as a Category 2 institution under the UN Educational, Scientific & Cultural Organisation (Unesco).
During the event, SDAIA and the Organisation for Economic Co-operation & Development (OECD) announced the establishment of a Middle East hub of OECD's AI Policy Observatory, which tracks over 1,000 AI-related policies globally.
Several memorandums of understanding have been signed over the past two days, including making the homegrown seven billion-parameter Allam large-language model available on Microsoft's Azure cloud computing platform.
Graphics processing unit (GPU) leader Nvidia also pledged to work with SDAIA to build a 5,000-GPU supercomputing platform in the kingdom, which will likely require close to $200m in investments based on the average unit price of each Blackwell chip.
PIF, which plans to create a $40bn AI fund, has not so far made any new announcements at the show, where foreign venture capitalists openly declared that they are looking at world-class AI products to invest in.
Crucially, the presence of female Saudis staffing companies that are exhibiting at the show or visiting it is palpable, and somewhat unprecedented for a technology event being held in one of the world's most conservative societies.
It confirms National Center for AI assistant CEO Steve Plimsoll's statement that there are more female Saudis taking engineering and IT courses today than there are males.
This trend, he says, persists in most Saudi startups, providing the best hope yet of overcoming the kingdom's greatest perceived weakness in implementing its AI strategy – the lack of foundational skillsets, which have been the hallmark of technology epicentres such as the US Silicon Valley.
Plimsoll also told MEED that Allam 7B has outperformed the latest, 13 billlion-parameter version of Google's LLM, Llama, in, a recent benchmark, which indicates that the Saudis are indeed making some headways in realising their AI aspirations.
The executive, who previously served as global chief analytics officer at UK-headquartered HSBC, said over 150 developers worked on Allam, which is envisaged, first and foremost, as an enabler of Saudi government services.
As the excitement and hype dissipate, the real job of making AI deliver on its promise to foster a prosperous, just society will have to begin for the rest of the kingdom's 36.4 million population.
Exclusive from Meed
-
Aldar announces $18bn UAE contract awards in 20254 February 2026
-
Kuwait signs 25-year offtake for Al-Zour North IWPP4 February 2026
-
Qatar’s Ashghal outlines Q1 2026 project plans4 February 2026
-
Dar Global seeks firms for Dubai Trump tower and hotel4 February 2026
-
Elon Musk-backed firm signs Dubai Loop construction deal4 February 2026
All of this is only 1% of what MEED.com has to offer
Subscribe now and unlock all the 153,671 articles on MEED.com
- All the latest news, data, and market intelligence across MENA at your fingerprints
- First-hand updates and inside information on projects, clients and competitors that matter to you
- 20 years' archive of information, data, and news for you to access at your convenience
- Strategize to succeed and minimise risks with timely analysis of current and future market trends
Related Articles
-
Aldar announces $18bn UAE contract awards in 20254 February 2026
Abu Dhabi-based real estate developer Aldar Properties has announced the award of construction contracts totalling over AED66bn ($18bn) in 2025.
These awards span a diverse portfolio of residential, commercial, infrastructure and logistics projects across the UAE.
The newly awarded contracts cover large-scale residential communities, strategic infrastructure, and Grade A commercial and logistics assets across key growth locations nationwide.
Collectively, the projects will deliver thousands of new homes, modern commercial and logistics facilities, and critical infrastructure that respond to evolving market demand and advance sustainable urban development.
In Abu Dhabi, contracts were awarded across a range of projects for Aldar and the local government. On Saadiyat Island, local contractor Fibrex Construction was appointed for Mamsha Gardens and Nobu Residences, while Dubai-based Dutco Construction Company was awarded the main contract for The Arthouse.
On Fahid Island, Indian firm Shapoorji Pallonji was awarded the main contract for Fahid Beach Residences.
Beijing-headquartered China State Construction Engineering Corporation and Abu Dhabi’s Western Bainoona Group, Nael & Bin Harmal Hydroexpert, Yas Projects, Said Bin Darwish and Noor Al-Sahara General Contracting were also awarded contracts across a number of national housing and infrastructure projects during 2025.
In Dubai, Aldar continued to deliver across major residential and logistics developments. Sharjah-based Ginco General Contracting was contracted to develop villas and townhouses at Athlon.
Turkish firm Nurol was awarded the main works package for Verdes by Haven.
Kuwait’s Mohammed Abdulmohsin Al-Kharafi & Sons was awarded the villas package for The Wilds, and local firm Al-Nasr Contracting Company was awarded the infrastructure works.
In the industrial and logistics segment, Dubai-based Group Amana was awarded the development of Aldar Logistics Centres at National Industries Park.
In Ras Al-Khaimah, Shapoorji Pallonji was awarded contracts for the Al-Marjan Beachfront development.
Aldar said in a statement: “In line with the UAE’s National In-Country Value (ICV) programme, almost 45% of the total value of projects awarded in 2025 is expected to be recirculated into the local economy, supporting economic diversification, industrial development and job creation across the UAE.
“Aldar continues to embed ICV principles across its procurement processes by prioritising UAE-based contractors and suppliers and supporting the growth of domestic capabilities across the construction value chain,” the statement added.
READ THE FEBRUARY 2026 MEED BUSINESS REVIEW – click here to view PDFSpending on oil and gas production surges; Doha’s efforts support extraordinary growth in 2026; Water sector regains momentum in 2025.
Distributed to senior decision-makers in the region and around the world, the February 2026 edition of MEED Business Review includes:
> AGENDA: Mena upstream spending set to soar> INDUSTRY REPORT: MEED's GCC water developer ranking> INDUSTRY REPORT: Pipeline boom lifts Mena water awards> MARKET FOCUS: Qatar’s strategy falls into place> CURRENT AFFAIRS: Iran protests elevate regional uncertainty> CONTRACT AWARDS: Contract awards decline in 2025> LEADERSHIP: Tomorrow’s communities must heal us, not just house us> INTERVIEW: AtkinsRealis on building faster> LEADERSHIP: Energy security starts with rethinking wasteTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/15568462/main.jpg -
Kuwait signs 25-year offtake for Al-Zour North IWPP4 February 2026
Kuwait has signed a 25-year energy conversion and water purchase agreement for the Al-Zour North independent water and power plant (IWPP) phases two and three.
The deal was signed by Saudi Arabia’s Acwa and local financial institution Gulf Investment Corporation (GIC) with Kuwait’s Ministry of Electricity & Water, confirming the long-term offtake arrangements for the project.
The signing marks a key step towards financial close on the estimated $4bn project. Once completed, the facility will add 2,700MW of power and 120 million imperial gallons a day of desalinated water to Kuwait’s supply network.
Kuwait recently established a new public shareholding company to manage the next stages of the project.
The Gulf Alliance for Power & Water Company will be responsible for the construction, implementation, management, operation and maintenance of Al-Zour North IWPP phases two and three.
In August, Acwa, formerly Acwa Power, and GIC signed a contract to develop the project, which will be the country’s largest IWPP. The consortium will hold 40% of the project company through Al-Zour Kuwaiti Second & Third Holding Company.
The Public-Private Partnership Authority will hold 10% on behalf of government entities, while 50% will be offered to Kuwaiti citizens through a public subscription process.
The project is owned by the Kuwait Authority for Partnership Projects and the Ministry of Electricity, Water & Renewable Energy.
The scheme will be developed under a build-operate-transfer model. The newly signed offtake agreement secures revenue for a 25-year period.
China’s Sepco3 is the engineering, procurement and construction contractor for the project.
READ THE FEBRUARY 2026 MEED BUSINESS REVIEW – click here to view PDFSpending on oil and gas production surges; Doha’s efforts support extraordinary growth in 2026; Water sector regains momentum in 2025.
Distributed to senior decision-makers in the region and around the world, the February 2026 edition of MEED Business Review includes:
> AGENDA: Mena upstream spending set to soar> INDUSTRY REPORT: MEED's GCC water developer ranking> INDUSTRY REPORT: Pipeline boom lifts Mena water awards> MARKET FOCUS: Qatar’s strategy falls into place> CURRENT AFFAIRS: Iran protests elevate regional uncertainty> CONTRACT AWARDS: Contract awards decline in 2025> LEADERSHIP: Tomorrow’s communities must heal us, not just house us> INTERVIEW: AtkinsRealis on building faster> LEADERSHIP: Energy security starts with rethinking wasteTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/15565047/main1611.jpg -
Qatar’s Ashghal outlines Q1 2026 project plans4 February 2026
Qatar’s Public Works Authority (Ashghal) has outlined plans to undertake 67 projects as part of its development strategy for 2026.
The majority of the upcoming projects cover sectors such as buildings, highways, roads, water and drainage.
The projects to be undertaken in the first quarter of this year include:
- Access road to the Qatari Emiri Air Defence command building
- Call-off agreement for road and infrastructure works
- Carrying out all recommended work to ensure the necessary approvals from the Civil Defence Authority are obtained
- Remaining works of C/2020/60 RIW for junctions & RA in various areas of Greater Doha: phase 9
- Remaining works of C/2020/124 R & I in Mebaireek (Zone 81): packages 1&2
- Strategic FTS for Karwa City, Asian City, IA 2 Diversions and SA
- Modifications and additions to existing schools: packages 2-8
- Construction of Mekeines – Umm Bab Link Road
- Construction of Msheireb offices
- Construction of parking lots for areas 2 and 3 and modification of road infrastructure, the bus station and Gate 6
- Remaining works of C/2018/114 Umm Al-Dome improvement
- Remaining works of C/2019/90 access roads for Umm Ghuwailina
- Remaining works of C2017/86, roads surrounding Al-Bayt Stadium
- Remaining works of C2018/7 & C2017/118, Al-Kheesa foul sewer: packages 1&2
- Consultancy services for MM building damages investigation and repairs recommendations
- Consultancy services for modernisation of tunnels on Lusail Expressway & Sabah Al-Ahmad corridor
- Consultancy services for survey works, GIS, CAD and BIM on a call-off basis
- Consultancy supervision services for construction of Mekeines – Umm Bab Link Road
- Demolition and construction of two schools (Simaisma Junior School, Simaisma High School): package 3
- Demolition of decommissioned facilities: phase 6
- Design and build for water treatment plant (including treated sewage effluent plant for UDST)
- Design and construction of pedestrian crossings: phase 4
- Design of external administrative buildings for the protection and nature reserves sector, and the Turtle Protection Centre
- Design and build of a truck stop outside the wall of the medical quarry in Al-Ruwais
- Design, supply and install the new sparkling lights for the Arch 5/6
- Execution of Central Doha and Corniche Package: two remaining works
- Foul sewer GAP tunnel 1.6 kilometres long, diameter 600-800 mm at Doha North
- Framework contract for the road link works in several locations across Qatar
- Industrial area STW asset improvement works: phase 2 AM24-0032
- Modernisation of tunnels on Lusail Expressway & Sabah Al-Ahmad corridor
- New consultancy supervision services
- On-call contract for geotechnical, environmental & structural tests and evaluation services
- Operational insurance – property all risk and third-party liability
- Package 1: design and build of strategic SGW drainage Western Tunnels – Southern area – C878/S1
- Paving and house connection for existing plot at Nuaija Zone 44
- Pilot deep wells construction
- PPP pre-contract framework – future work orders
- Pre-contract PCS for centralised sewage solids treatment and management facility
- Pre-contract PCS for Strategic Qatar Integrated Drainage Master Plan Update 2026 C767/3
- PSA for Strategic FTS for Karwa City, Asian City, IA 2 Diversions and SA
- PSA roads and infrastructure in Wadi Al-Banat (Zone-70)
- PSA roads and infrastructure in Al-Kheesa North and East (Rawdat Al-Hamama District): package 3
- R&I in southwest of Al-Wukair (DW086 – DW092)
- Refurbishment, reinstatement and repair works for strategic location in Qatar: phase 9 (QN) AM22-1011
- Roads and infrastructure in Al-Kheesa
- Roads and infrastructure in Al-Kheesa North and East (Rawdat Al-Hamama District): package 3
- Roads and infrastructure in Rawdat Abal Heeran: package 4
- Roads and infrastructure in Sailiya Al-Attiyah: package 1
- Roads and infrastructure in Sailiya Al-Attiyah: package 2
- Roads and infrastructure north of Smeisma: package 4
- Secondment contract for professional staff for the Highway Projects Department
- Secondment contract for professional staff for Roads Project department: phase 2
- STW rehabilitation and maintenance: Qatar West phase 2 AM25-0020
- Supervision for community college projects
- Supervision for design and construction of pedestrian crossings: phase 4
- Supervision for roads and infrastructure for Qatar Armed Forces
- Supervision for roads and infrastructure for Qatar Armed Forces – A
- Supervision for the design and build of a new communications room and technical store for Al-Shahaniya radio station
- Supervision for foul sewer GAP tunnel – 1.6km long, diameter 600-800 mm – at Doha North
- Supervision of deep injection wells enabling works – pilot at Al-Thumama
- Supervision of the Ministry of Education and Higher Education warehouses project
- Supply of equipment and spares for DNOM AM21-192
- Supply of pumps for DNO&M workshop section AM25-0075
- Surrounding roads around North Camp
- Surrounding roads around Doha Air Base
- TSE rehabilitation and maintenance: Qatar West phase 2 – AM25-0031
- TSE renewal programme and assets improvements: Qatar South phase 2 – AM22-132
Qatar market overview
Qatar’s next construction cycle is starting to take shape. In recent months, the country has made progress on several high-profile, large-scale infrastructure schemes that are set to inject fresh momentum into Qatar’s construction pipeline and, crucially, translate into years of contract flow for local contractors, suppliers and service firms.
The largest of these schemes includes the proposed high-speed rail line connecting Riyadh and Doha, the revived Friendship Bridge to Bahrain and a planned road corridor linking Qatar with the UAE.
For the construction industry, these moves signal that the state is ready to shift from post-World Cup consolidation to a new, longer-term buildout anchored in regional connectivity.
That longer-term view is especially important after a flat 2025, when contract awards slipped to just over $2bn — the weakest annual total in the past five years — and many in the industry felt a widening gap between plans and procurement.
The mood has now shifted. With about $64bn-worth of projects in the pipeline, Qatar is not short of project opportunities.
The next phase has the potential to sustain contractors and the wider supply chain in the near term, while bringing a more predictable rhythm back to the market as these programmes are broken into packages and move to tender.
MEED’s February 2026 report on Qatar includes:
> COMMENT: Qatar’s strategy falls into place
> GVT & ECONOMY: Qatar enters 2026 with heady expectations
> BANKING: Qatar banks search for growth
> OIL & GAS: QatarEnergy achieves strategic oil and gas goals in 2025
> POWER & WATER: Dukhan solar award drives Qatar's utility sector
> CONSTRUCTION: Infrastructure investments underpin Qatar constructionTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/15565036/main.jpeg -
Dar Global seeks firms for Dubai Trump tower and hotel4 February 2026

Register for MEED’s 14-day trial access
Saudi Arabia-headquartered real estate developer Dar Global has asked contractors to express interest in a contract to build the Trump International Hotel and Tower project in Dubai.
Dar Global is developing the project in collaboration with the US-based Trump Organisation.
The 80-floor tower will be built next to the Shangri-La Hotel on Sheikh Zayed Road.
The tower will be among the tallest in Dubai, with an estimated height of approximately 350 metres.
In December last year, Dar Global appointed Dubai-based Edrafor Emirates to undertake the foundation works on the project.
Dar Global is also developing the estimated $1bn Trump Plaza Jeddah project in Saudi Arabia.
In November last year, Abu Dhabi-based contractor Arabian Construction Company won the estimated SR2bn ($532m) main contract to build the Trump Tower Jeddah.
The project comprises a mixed-use development of apartments, townhouses, offices, retail, food and beverage offerings, and a 4,000-square-metre club.
Dar Global, a subsidiary of Dar Al-Arkan, was one of the first Saudi brands to list on the London Stock Exchange.
According to an official statement, the project is the region’s first Trump International Hotel & Tower and represents the fifth collaboration between Dar Global and the Trump Organisation.
Dar Al-Arkan established Dar Global in 2017 to focus on developing projects in the Middle East and Europe. It has $12bn-worth of projects under development in six countries: the UAE, Oman, Qatar, Saudi Arabia, the UK and Spain.
It completed three developments – the Urban Oasis and Da Vinci towers in Dubai and the Sidra gated community in Bosnia – in 2023.
The company collaborates with global brands including Missoni, W Hotels, Versace, Elie Saab, Automobili Pagani and Automobili Lamborghini.
READ THE FEBRUARY 2026 MEED BUSINESS REVIEW – click here to view PDFSpending on oil and gas production surges; Doha’s efforts support extraordinary growth in 2026; Water sector regains momentum in 2025.
Distributed to senior decision-makers in the region and around the world, the February 2026 edition of MEED Business Review includes:
> AGENDA: Mena upstream spending set to soar> INDUSTRY REPORT: MEED’s GCC water developer ranking> INDUSTRY REPORT: Pipeline boom lifts Mena water awards> MARKET FOCUS: Qatar’s strategy falls into place> CURRENT AFFAIRS: Iran protests elevate regional uncertainty> CONTRACT AWARDS: Contract awards decline in 2025> LEADERSHIP: Tomorrow’s communities must heal us, not just house us> INTERVIEW: AtkinsRealis on building faster> LEADERSHIP: Energy security starts with rethinking wasteTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/15564796/main.jpg -
Elon Musk-backed firm signs Dubai Loop construction deal4 February 2026
Register for MEED’s 14-day trial access
Dubai’s Roads & Transport Authority (RTA) has signed an agreement with Elon Musk-backed firm The Boring Company to begin construction of the Dubai Loop transportation system.
The agreement was signed on the sidelines of the World Governments Summit in Dubai on 3 February.
The first phase of the project comprises a 6.4-kilometre (km) route with four stations, linking the Dubai International Financial Centre (DIFC) and Dubai Mall.
The stations will be located at DIFC 2, ICD Brookfield Place, Dubai Mall Zabeel Parking and Burj Khalifa.
The first phase is expected to cost about AED565m ($154m).
This phase is anticipated to be delivered within one year following the completion of design work and other preparations.
The tunnelling works are expected to begin in the second half of this year.
Next phase
The second phase of the project will connect the Dubai World Trade Centre and DIFC with Business Bay.
The tunnels will extend up to 22km and include 19 stations.
The total cost of the project across both phases is expected to be around AED2bn ($545m), with completion scheduled within three years.
In a statement published by the Emirates News Agency (Wam), the RTA said the pilot route is expected to serve around 13,000 passengers a day. The full route is projected to have a total capacity of about 30,000 passengers a day.
The RTA and The Boring Company signed a memorandum of understanding on the sidelines of the World Governments Summit in Dubai in February last year to explore the development of the Dubai Loop transportation system.
The Dubai Loop is expected to be similar to The Boring Company’s Las Vegas Convention Centre (LVCC) Loop project. The LVCC Loop is a 2.7km underground tunnel system that connects different convention centre halls, reducing walking time across the site to about two minutes.
The LVCC Loop has been in operation since 2021. It uses Tesla Model 3 cars to carry passengers between five stations. The Boring Company began construction in November 2019 at an estimated cost of $49m.
READ THE FEBRUARY 2026 MEED BUSINESS REVIEW – click here to view PDFSpending on oil and gas production surges; Doha’s efforts support extraordinary growth in 2026; Water sector regains momentum in 2025.
Distributed to senior decision-makers in the region and around the world, the February 2026 edition of MEED Business Review includes:
> AGENDA: Mena upstream spending set to soar> INDUSTRY REPORT: MEED's GCC water developer ranking> INDUSTRY REPORT: Pipeline boom lifts Mena water awards> MARKET FOCUS: Qatar’s strategy falls into place> CURRENT AFFAIRS: Iran protests elevate regional uncertainty> CONTRACT AWARDS: Contract awards decline in 2025> LEADERSHIP: Tomorrow’s communities must heal us, not just house us> INTERVIEW: AtkinsRealis on building faster> LEADERSHIP: Energy security starts with rethinking wasteTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/15564682/main.jpg