29 May 2024

solutions by stc, the Kingdom’s leading enabler of digital transformation, has signed a partnership agreement to establish a limited liability company in alliance with Jeddah Development and Urban Regeneration Company (JEDCO), Jeddah Municipality development arm. solutions by stc will hold a 70% stake in the new company while JEDCO owns 30%. The joint venture is part of a Public-Private Partnership framework that aims to offer innovative technological solutions to projects run by JEDCO and its companies.

solutions by stc and JEDCO joint venture will bolster Jeddah company’s projects and initiatives with technologies to accelerate digital transformation, create and develop digital platforms, and deliver managed services for projects. solutions by stc will also deploy its cutting-edge capabilities and expertise to upgrade the digital infrastructure of Jeddah company’s projects, ensuring seamless execution through innovative and sustainable solutions.

His excellency Mr. Saleh Alturki, , Mayor of Jeddah and Chairman of Jeddah Development & Urban Regeneration Company, commented on the partnership, saying, “We are pleased with this partnership with solutions by stc which enables our critical role in upgrading and enhancing the digital infrastructure of JEDCO projects and initiatives.” He added, “The new entity will offer innovative digital solutions to safeguard the sustainability of our development projects across the Jeddah Governorate.”

On his part, Eng. Omer Alnomany, CEO of solutions by stc, emphasized the significance of the strategic collaboration which aligns with the company’s expansion and public sector partnership objectives. He stated, “As pioneers in driving the Kingdom’s digital transformation and in line with our growth and expansion strategy, we worked on concluding this deal with JEDCO, which represents a vital step in our pursuit to offer sustainable and innovative digital solutions and enable our partners at JEDCO to fulfill their digital ambitions.”

It is worth noting, that solutions by stc had earlier signed an agreement with Remat Al-Riyadh Development Company, the development arm of Riyadh Region Municipality, to develop, operate, manage, and maintain Smart Public Parking across Riyadh for a period of ten years. Through this partnership, solutions seeks to strengthen collaboration with the public sector while offering its sustainable digital solutions to enable both the public and private sectors to fulfill the demands of the digital age and adopt its latest trends.