Abu Dhabi and Riyadh rivalry extends to AI
24 January 2024
Commentary
Jennifer Aguinaldo
Energy & technology editor
On 22 January, UAE President Mohamed bin Zayed al-Nahyan decreed the establishment of the Artificial Intelligence and Advanced Technology Council (AIATC).
The entity will be responsible for developing and implementing policies and strategies related to research, infrastructure and investments in artificial intelligence and advanced technology in Abu Dhabi.
The president named Abu Dhabi deputy ruler Tahnoun bin Zayed al-Nahyan as AIATC chairman and Abu Dhabi crown prince and Abu Dhabi Executive Council chairman Khaled bin Mohamed bin Zayed al-Nahyan as vice chairman.
Other AIATC council members include Khaldoon Khalifa al-Mubarak, Jassem Mohamed Bu Ataba al-Zaabi, Faisal Abdulaziz al-Bannai and Peng Xiao.
The move demonstrates that AI oversight in Abu Dhabi goes to the very top of the government and now involves all AI and technology bureaucrats in the public sector.
The creation of the AIATC is a culmination of several years of efforts by Abu Dhabi to build capacity in artificial intelligence, cybersecurity, quantum computing and biotech.
It is also a broad endorsement of AI’s vital role in the UAE’s economic future. In the words of G42’s Xiao in a recent interview in Davos, “We don’t really care if every company in our portfolio has a great five-year business plan showing us great cash return … if they don’t have an AI plan for the next five to 10 years, they don’t belong in our portfolio because AI will disrupt every single sector.”
Riyadh has also been busy staging its plan to be a regional AI and technology hub. The kingdom established the Saudi Authority for Data and Artificial Intelligence (SDAI) in 2019.
The authority recently released a guideline on generative AI, which includes a comprehensive review of its components, use cases, benefits, adoption methods, and impact on various digital applications and vital sector services.
SDAI has partnered with companies such as US technology firm Nvidia to create applications and undertake pioneering research in the field of generative AI.
Saudi Arabia’s $500bn futuristic city Neom includes plans for zero-carbon emissions, flying taxis, a ski resort and a luxury village folding on itself within a mountain, among others. AI, in one form or another, will be involved in executing these plans and projects, some of which are reminiscent of Dubai’s ambitions 25 years ago.
Related read: Creating an artificial intelligence ecosystem
Saudi Arabia’s sovereign wealth vehicle, the Public Investment Fund, and state-backed Saudi Aramco are key actors in the kingdom’s AI ambitions.
PIF launched a subsidiary focusing on AI and emerging technologies in the kingdom in 2022. Saudi Company for Artificial Intelligence is expected to foster innovation in strategic sectors and accelerate key national technological priorities.
For its part, Saudi Aramco has set up a fourth industrial revolution (4IR) hub in Dhahran, where experts can identify areas of its operations where AI could make the most impact. Aramco has mobilised 30 teams in its “digital factory”, which are working on producing new AI products every month to replace existing work processes.
Related read: Saudi Arabia and UAE acquire Nvidia chips
These developments highlight the growing rivalry between Riyadh and the UAE beyond developing tourism, luxury, industrial and logistics hubs.
Given the omnipresent role AI is expected to play in every sector going forward, it is also inevitable.
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The first wave of metro systems, in Dubai, Doha, and most recently, Riyadh, have reported stronger-than-expected ridership and demonstrated the viability of mass transit in the Gulf.
Extensions to those networks are planned or under way, including Dubai’s Blue and Gold lines and Riyadh’s Line 2, alongside planned metros elsewhere such as Muscat and Bahrain.
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Aldar and Mubadala plan $16bn financial district expansion8 December 2025
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Abu Dhabi's sovereign wealth fund, Mubadala Investment Company, and local developer Aldar have established a joint venture to deliver an expansion of the financial district on Al-Maryah Island with a gross development value of AED60bn-plus ($16bn-plus).
The development will be built on the undeveloped land bank on the north side of Al-Maryah Island, covering about 500,000 square metres (sq m), and will support the next phase of growth for Abu Dhabi Global Market (ADGM).
The masterplan encompasses 1.5 million sq m of new office, residential, retail and hospitality floor space.
In an official statement, the firms said that the core objective of the project is to support the continued expansion of ADGM, Abu Dhabi’s international financial centre. ADGM now has more than 11,000 active licences registered in the free zone and is among the fastest-growing financial hubs globally.
"Nearly 40,000 people are already based within the district, and demand for space remains strong," the statement added.
The Al-Maryah Island expansion will add over 450,000 sq m of Grade A office space, doubling the island’s current office inventory.
The expansion will add over 3,000 residences on the waterfront.
The next phase will also add a further 40,000 sq m of retail and dining spaces.
A central feature of the expansion is the Al-Maryah Waterfront enhancement project. This will include a bay fountain capable of water displays up to 75 metres high, forming the focal point of a reconfigured waterfront with additional dining, leisure and event spaces designed to complement existing assets on the island.
Three new bridges are proposed to link the north side of Al-Maryah Island with Reem Island and the Abu Dhabi mainland, reducing travel time to Saadiyat Island to under 10 minutes.
The enabling works on these projects are due to begin in 2026.
The new joint venture is owned 60% by Aldar and 40% by Mubadala.
"The two organisations are close to completing the legal work on a retail joint venture that will own and operate several of Abu Dhabi’s leading retail destinations, including The Galleria Al-Maryah Island, Yas Mall and the planned Saadiyat Grove Mall," the statement added.
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Visa and the Central Bank of Syria have agreed on a strategic roadmap that will allow the US-based card and digital payments company to begin operations in Syria and support the development of a modern digital payments system.
Under the agreement, Visa will work with licensed Syrian financial institutions under a phased plan to establish a secure foundation for digital payments.
The early stages will involve Visa supporting the central bank in issuing Europay, Mastercard and Visa (EMV)-compliant payment cards and enabling tokenised digital wallets – bringing the country in line with internationally interoperable standards.
Visa will also provide access to its platforms, including near-field communication (NFC) and QR-based payments, invest in local capacity building and support local entrepreneurs seeking to develop solutions leveraging Visa’s global platform.
“A reliable and transparent payment system is the bedrock of economic recovery and a catalyst that builds the confidence required for broader investment to flow into the country,” noted Visa’s senior VP for the Levant, Leila Serhan. “This partnership is about choosing a path where Syria can leapfrog decades of legacy infrastructure development and immediately adopt the secure, open platforms that power modern commerce.”
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Dubai-based real estate developer Meraas Holding, which is part of Dubai Holding, has announced the eleventh and final phase of its Nad Al-Sheba Gardens residential community in Dubai.
It includes the development of 210 new villas and townhouses and a school, which will be located at the northwest corner of the development.
The latest announcement follows Meraas awarding a AED690m ($188m) contract for the construction of the fourth phase of the Nad Al-Sheba Gardens community in May, as MEED reported.
The contract was awarded to local firm Bhatia General Contracting.
The scope of the contract covers the construction of 92 townhouses, 96 villas and two pool houses.
The contract award came after Dubai-based investment company Shamal Holding awarded an estimated AED80m ($21m) contract to UK-based McLaren Construction last year for the Nad Al-Sheba Gardens mall.
The project covers the construction and interior fit-out of a two-storey mall, covering an area of approximately 12,600 square metres.
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The residential construction sector is expected to record an annual average growth rate of 2.7% in 2025-28, supported by private investments in the residential housing sector, along with government initiatives to meet rising housing demand.
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Frontrunner emerges for Riyadh-Qassim IWTP5 December 2025

Saudi Arabia’s Vision Invest has emerged as frontrunner for the contract to develop the Riyadh-Qassim independent water transmission pipeline (IWTP) project, according to sources.
State water offtaker Saudi Water Partnership Company (SWPC) is preparing to award the contract for the IWTP "in the coming weeks", the sources told MEED.
The project, valued at about $2bn, will have a transmission capacity of 685,000 cubic metres a day. It will include a pipeline length of 859 kilometres (km) and a total storage capacity of 1.59 million cubic metres.
In September, MEED reported that bids had been submitted by two consortiums and one individual company.
The first consortium comprises Saudi firms Al-Jomaih Energy & Water, Al-Khorayef Water & Power Technologies, AlBawani Capital and Buhur for Investment Company.
The second consortium comprises Bahrain/Saudi Arabia-based Lamar Holding, the UAE's Etihad Water & Electricity (Ewec) and China’s Shaanxi Construction Installation Group.
The third bid was submitted by Saudi Arabia's Vision Invest.
It is understood that financial and technical bids have now been opened and Vision Invest is likely to be awarded the deal.
The Riyadh-based investment and development company made a "very aggressive" offer, one source told MEED.
In November, the firm announced it had sold a 10% stake in Saudi Arabia-based Miahona as part of a strategy to reallocate capital "towards new and diversified investments".
The company did not disclose which projects the capital might be reallocated towards.
As MEED recently reported, Vision Invest is also bidding for two major packages under Dubai's $22bn tunnels programme in a consortium with France's Suez Water Company.
The Riyadh-Qassim transmission project is the third IWTP contract to be tendered by SWPC since 2022.
The first two are the 150km Rayis-Rabigh IWTP, which is under construction, and the 603km Jubail-Buraydah IWTP, the contract for which was awarded to a team of Riyadh-based companies comprising Al-Jomaih Energy & Water, Nesma Group and Buhur for Investment Company.
Like the first two IWTPs, the Riyadh-Qassim IWTP project will be developed using a 35-year build-own-operate-transfer contracting model.
Commercial operations are expected to commence in the first quarter of 2030.
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