Egyptian construction tycoon Hassan Allam's company wins $200 million Saudi AI contract

The Hassan Allam Group, owned by an Egyptian family, has secured a contract worth approximately 750 million Saudi riyals ($200 million) to construct the first phase of an artificial intelligence data center in Riyadh. This contract reflects Saudi Arabia's increasing focus on enhancing its AI infrastructure, opening new investment opportunities in this sector. This development comes at a time when Saudi Arabia is looking to undertake larger projects in artificial intelligence, thereby strengthening the role of regional companies in executing these initiatives. This contract is expected to foster collaboration between Egyptian and Saudi companies in technology and construction.