The King Abdullah Financial District Development and Management Company (KAFD DMC), Riyadh’s premier business and lifestyle destination, and Samsung Electronics today (October 22) announced the signing of a MoU to explore areas for collaboration on the development and implementation of integrated smart city technologies within the mega Financial District in Riyadh.
The strategic partnership will further enhance the digital experience for the district’s businesses, tenants, and visitors and build on KAFD’s status as a conduit for collaboration and innovation between Saudi Arabia and Asia.
KAFD is the first neighbourhood in the Mena region to achieve WiredScore’s Global Smart Neighborhood Certification and the first district to launch a Smart WiFi-7 service in Saudi Arabia, as part of a long-term strategic agreement with leading Chinese technology provider, Huawei.
KAFD also has smart-city platform pilot programs underway with the Chinese artificial intelligence company, SenseTime.
The deal with Samsung demonstrates KAFD’s commitment to strategically investing in and adopting cutting-edge technologies, reimagining urban infrastructure and living through digital enablement.
As a global technology leader, Samsung’s track record of ground-breaking product development, supports KAFD’s vision of leveraging smart city technologies to make urban districts more efficient, sustainable, and human-centric for its inhabitants, in line with Vision 2030.
The collaboration lays the foundation of the advancement of KAFD’s smart city infrastructure by exploring potential integration of enterprise-grade solutions, including access control, digital signage, and other smart and centralized systems, supporting real-time infrastructure and asset monitoring and management.
A potential new Samsung experience center in the district will further enrich the community, offering residents exclusive benefits and discounts.
Sultan Alshahrani, Chief Corporate Officer at KAFD DMC, said: "KAFD is forging ahead with investments in transformative urban and smart-city infrastructure, cultivating an environment where businesses, residents, and visitors can thrive in a seamlessly integrated, intelligent urban district."
"Our partnership with Samsung will unlock a new wave of enhancements and innovations, enhancing experiences and quality of life in line with Saudi Vision 2030. The partnership adds to KAFD’s growing list of collaborations with leading Asian companies, underscoring KAFD’s prominent role as an accelerator for economic cooperation," he stated.
Hendrik Lee, President of Samsung Electronics Saudi Arabia, said: "We have always been at the forefront of driving innovation and fostering connected communities. This fruitful collaboration with KAFD represents a key step and a new milestone in our strategy that aims at supporting Saudi Arabia’s vision and its transformation into a global hub for innovation."
"Samsung Electronics is proud to embark on this partnership, through which we can together, integrate Samsung’s smart solutions and technologies to build strong digital infrastructure and deliver enhanced digital experience across the kingdom," he added.-TradeArabia News Service
