stc & “KAFD” pen MOU to develop mutual goals 

5G coverage at King Abdulaziz Financial district & reinforcing sustainability

Riyadh, 15 March 2022: stc Group and King Abdullah Financial District “KAFD” signed a memorandum of understanding to reinforce common goals of exchanging data, enhancing sustainability, sponsoring events and activities, and providing technical services, all under the umbrella of a strategic partnership in between the two parties.

“Our cooperation with the King Abdullah Financial District is in line with stc Group’s strategy to enable digital transformation of various vital sectors in the Kingdom. Within the agreement, we will work to empower the King Abdullah Financial Center with the best digital solutions and provide comprehensive coverage bearing in mind center’s importance to the Kingdom and the Middle East”, said Eng. Abdullah Al-Kanhal, Chief Corporate Affairs Officer, at stc.

“Our partnership with stc is a great step forward on the path to making KAFD the prime business and lifestyle destination in the region. Data sharing between KAFD and stc will play a key role in accelerating the development of smart solutions for the destination, as well as helping us to achieve our common sustainability goals. Initiatives such as stc’s sponsorship of events and enhanced 5G coverage throughout KAFD will help contribute to Saudi Arabia’s social and economic transformation, in line with Vision 2030”, said Gautam Shahittal, CEO of King Abdullah Financial District. 

The MOU between stc and King Abdullah Financial District “KAFD” will provide Wi-Fi points across the destination delivering complimentary internet services to “KAFD” visitors in public areas, in addition to exchanging data and cooperating with “KAFD” in the field of sustainability. stc will also provide the destination with 5G network. Further to these services, there will be cooperation between the two parties to develop smart city initiatives, in addition to providing stc pay cards specially designed for “KAFD”.