Giza Systems plans $140M investments in Saudi Arabia; to enter Oman, Kuwait in 2024

Egypt-based Giza Systems Co. is planning $200 million investments next year, of which $140 million, or 70% of the company’s investments, will be injected to boost the company’s presence in Saudi Arabia, Chairman Osama Sorour told Asharq News.

Giza Systems pumped $450 million worth of investments this year in the markets where it operates.

The new investments will boost the company’s project portfolio and help it expand integrated technological solutions and start-up technology in various fields, such as communications, infrastructure, oil and gas, transportation, smart buildings and manufacturing.

Saudi Arabia has become one of the most markets that lure investments in the region, thanks to the huge business size in various sectors. Sorour added that part of the company’s new investments will be injected to open new markets in the GCC region, starting with Kuwait and Oman in 2024.

Tadawul-listed solutions owns 88.19% of Giza Systems.
 

Source: Argaam