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MENA’s smart cities prioritizing well-being over gigahertz

MENA’s smart cities prioritizing well-being over gigahertz
The recent BRICS Urban Future Forum in Moscow had the buzzwords of AI, robotics, and IoT, but the central theme was one of human-centric transformation. (Supplied)
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Updated 13 min 43 sec ago

MENA’s smart cities prioritizing well-being over gigahertz

MENA’s smart cities prioritizing well-being over gigahertz
  • NEOM’s chief futurist says real goal is to build cities that understand human rhythms and aspirations

RIYADH: For years, the vision of the “smart city” has been sold on a promise of hyper-efficiency: a world of sensors, seamless traffic, and artificial intelligence-driven automation. 

But as a wave of next-generation urban projects rises from the deserts of the Middle East and North Africa, a more profound question is emerging: What should a smart city actually do for its people?

The recent BRICS Urban Future Forum in Moscow, which drew thousands of global experts, made it clear that the conversation has shifted. The buzzwords of AI, robotics, and IoT were ever-present, but the central theme was one of human-centric transformation. But how do you turn that theme into a reality?

For Aisha Bin Bishr, former chief executive officer of the Dubai Digital Development Agency and former deputy chairman of the Board of Directors of EMAAR Development, the answer lies not in a specific technology, but in a foundational principle. 

In an interview with Arab News on the sidelines of the forum, she identified the crucial mechanism: “From my experience, the most critical mechanism is trust through governments.”

She added: “Governments create transparent, predictable frameworks that share risks fairly. This gives the private sector the confidence to invest in public-good projects in emerging economies. The bottleneck is not technology or funding — it is collaboration.”

On this note, Kate Barker, executive board adviser and chief futurist for ֱ’s flagship project, NEOM, told Arab News that “the challenge is not technology or money, it is mindset.” 

She added that collaboration succeeds when leaders across sectors align around shared purpose rather than competition. 

“Real collaboration is co-design, not consultation. It is about leaders listening as much as they innovate. When well-being becomes the shared measure of success, we shift from short-term targets to long-term value creation, and that is where true societal progress begins,” Barker added.

Bin Bishr went on explaining that if governments ensure regulatory stability and people-centric outcomes, the private sector will bring the innovation and the capital needed for this project. The real story in the MENA region is no longer about the technology itself, but the new stack of urban priorities being built from the ground up — priorities like climate resilience, mental well-being, and community cohesion.

From digital nervous system to a city that cares

If a smart city were a human body, technology would be its nervous system, a network of IoT sensors and ICT fibers taking in information. But the purpose of this system is not just to react, but to proactively improve the quality of life. This ethos was echoed by global leaders at the forum. Bin Bishr outlined this evolution, describing a shift from simple digitalization toward a human-centered transformation.

“Technology is only a tool, not an end in itself,” she told at the Moscow forum. “The question is no longer what technology we buy, but whether the innovation makes people happier, reduces inequality, and strengthens resilience to climate change.”

This reframes the entire smart city endeavor. The goal is not a digital city of pure data, but a sustainable settlement — in environmental, economic, and cultural terms — that meets the needs of the present without compromising the future.

The new KPIs: happiness, health, and community

Across the region, this philosophy is being put into practice, with projects that measure success not just in gigabits, but in well-being metrics.

In ֱ’s NEOM, Barker presented a vision where AI is less an administrator and more a companion. She described a future where each resident has an AI twin that monitors health and advises on personal development.

In an interview with Arab News, Barker emphasized that “a truly smart city should make people feel seen, not surveilled.” She explained that the most important thing is to create a sense of belonging and psychological safety. 

The question is no longer what technology we buy, but whether the innovation makes people happier, reduces inequality, and strengthens resilience to climate change.

Aisha Bin Bishr, Former chief executive officer of the Dubai Digital Development Agency

“That requires leadership with empathy and foresight, people who see technology not just as infrastructure but to enhance quality of life.”

The chief futurist stated that efficiency alone can make life faster, but empathy makes it meaningful, and the real goal is to build cities that understand human rhythms and aspirations.

Sultan Al-Raisi of the Dubai Future Foundation presented how Dubai is creating a sandbox to fast-track innovation. By offering regulatory relaxations and direct access to policymakers, the city is actively cultivating solutions designed to ease urban life. 

The focus is on removing friction and stress for its citizens and the innovators who serve them, fostering a sense of community and collaborative progress. On this note, Barker added: “We always ask: does this technology make us more human or just more automated? That question sits at the heart of responsible leadership.”

At the Moscow forum, she described a future where each resident has an AI twin that monitors health and advises on personal development. 

“The AI Twin is not another assistant; it is a leadership tool for the self. It learns from how you live, helps prevent burnout, and supports better decisions about rest, focus, and growth,” Barker explained to Arab News.

“When technology enhances self-awareness and well-being instead of driving consumption, citizens become more resilient and self-led. That is how technology can elevate both individual potential and collective well-being within a city.”

The proof is in the pavement: recognizing human-centric tech

This new direction was formally recognized at the forum’s BRICS Urban Innovation Award. Notably, Moscow won in the “Human-Centered Robotics” category, not for having the most robots, but for deploying them in ways that tangibly improve the urban experience — from autonomous cleaning bots that handle seasonal leaves to robotic monitors that enhance construction site safety.

Even the robots on stage, like the humanoid Ardi and the avatar-moderator, were framed not as cold automations, but as integral parts of a future hybrid world where technology and humanity coexist to create a more connected, less stressful environment. 

FASTFACT

The real story in the MENA region is no longer about the technology itself, but the new stack of urban priorities being built from the ground up — priorities like climate resilience, mental well-being, and community cohesion.

The message from the global stage is clear: the competitive edge for the cities of tomorrow will not come from who has the most data, but from who can best use that data to foster resilience, inclusion, and happiness. 

The MENA region, with its projects and forward-thinking leadership, is positioning itself at the forefront of this new urban reality — building not just smarter cities, but wiser ones.

The most powerful innovation emerging from the MENA region is leadership itself, according to Barker. 

“Leaders here are redefining what progress looks like, proving that ambition and humanity can exist side by side,” she said.

The region is demonstrating that sustainable development is as much about social and emotional intelligence as it is about AI or automation. 

“The world will look to the Middle East as the place where leadership evolved from managing cities to shaping a new kind of civilization built on inclusion, purpose, and trust,” Barker concluded.


The ebb and flow of ֱ’s US Treasury strategy

The ebb and flow of ֱ’s US Treasury strategy
Updated 1 min 52 sec ago

The ebb and flow of ֱ’s US Treasury strategy

The ebb and flow of ֱ’s US Treasury strategy
  • Kingdom calibrates US Treasury allocations primarily to ensure ample, immediate dollar liquidity

JEDDAH: ֱ’s US Treasury holdings are more than a line item in a monthly report — they are a barometer of the Kingdom’s financial strategy, a measure of its confidence in the global economic order, and a cornerstone of its economic diversification efforts.

Commenting on how ֱ decides how much to invest in US Treasury securities at any given time, and what strategic goals it aims to achieve through these holdings, Qaiser Noor, executive director and board member at 1957 Ventures, JS Bank, Tiqmo and Owais Capital, described the Kingdom’s approach as disciplined and hierarchical.

“ֱ calibrates US Treasury allocations primarily to safeguard the riyal’s dollar peg and ensure ample, immediate US dollar liquidity for external payments. Reserve management follows the classic hierarchy of objectives, safety, liquidity, then return, so Treasuries anchor the liquid ‘core’ while duration is adjusted tactically with market conditions,” he told Arab News.

He added: “Oil revenue cycles, fiscal outflows, and expected foreign exchange liquidity needs are key inputs; the aim is to preserve capital and shock-absorb balance-of-payments volatility, along with optimizing yield.”

Central bank view

Nasser Saidi, founder and president of Nasser Saidi & Associates, a specialized economic and financial advisory services company, echoed this perspective, emphasizing that the decision is “primarily taken by the Saudi Central Bank, keeping in mind its strategic goals of currency stability, directed partly by the need to hold US dollar as part of international reserves to maintain the dollar peg and liquidity and safety.” For Saidi, who served as Lebanon’s minister of economy and trade and minister of industry from 1998 to 2000, US Treasuries are a critical pillar of stability, as “holding treasuries allows ֱ to meet its international payment obligations — finance imports, service external debt, portfolio, and capital flows — provide a buffer against oil revenue shocks, while also generating a steady, low-risk stream of income.” 

The aim is to preserve capital and shock-absorb balance-of-payments volatility, along with optimizing yield.

Qaiser Noor, executive director and board member at 1957 Ventures, JS Bank, Tiqmo and Owais Capital

Holdings fluctuations

In the 12 months to July, ֱ’s US Treasury holdings saw notable fluctuations, reflecting active reserve management. 

Holdings rose from $142.7 billion in July 2024 to a peak of $143.9 billion two months later, then fell to a low of $126.4 billion in February, before recovering to $133.8 billion in April. They dipped again to $127.7 billion in May and rose to $131.7 billion by July, underscoring Riyadh’s strategic balancing of liquidity, yield, and diversification.

The pattern of Saudi holdings mirrors strategic adjustments rather than anything else, Noor explained, noting that monthly changes mainly reflect liquidity management and market positioning. 

“Increases can indicate oil inflows being parked in ultra-safe US dollar paper or duration adds when yields are attractive; declines can reflect funding domestic spending, transfers to other public entities, or rotation within the US dollar curve/custodians,” he explained.

He noted that US Treasury data show Saudi holdings fluctuating between $120 billion to $140 billion in recent months, underscoring “active but disciplined management.”

Drivers of change

Saidi pointed to multiple drivers behind these shifts, noting that the rise until September 2024 reflected the Saudi Central Bank, known as SAMA, capitalizing on higher US interest rates, supported by strong oil revenues from the preceding period.

He added that the drop to a six-year low of $108 billion in June 2023 followed a significant transfer of funds to the Public Investment Fund, and the subsequent rise reflected Aramco dividend transfers, which “would have some impact on inflows of US dollar into the central bank in 2024.”

Speaking to Arab News, Saidi explained that the decline to $126.4 billion by February “is likely a combination of factors – expectations that interest rates would stay higher for longer plus a soft landing in the US, portfolio rebalancing away toward higher-yield investments in the backdrop of lower oil production and prices, SAMA withdrawing to meet domestic spending needs / managing liquidity in the banking system,” adding that after a return to stabilization was seen.

For Saidi, the pattern underscores that “SAMA acts as both the traditional central bank, and also actively manages its reserve holdings to accommodate funding needs as per Vision 2030, mainly via the PIF.”

Balancing safety and return

A key question for Saudi reserve managers is how to reconcile the safety of US debt with the need for higher returns and diversification.

Noor stressed the use of a layered approach, noting that the country “typically separates a highly liquid US dollar layer (Treasuries/bills) from a return-seeking layer with measured duration and complements this with other high-grade supranationals/agency papers and selective non-US dollar assets, hedged as needed.”

He explained that the balance shifts tactically based on yield levels, volatility, and stress-testing of foreign exchange needs, adding that the guiding principle is to ensure buffers perform in crises first, with incremental returns pursued only when they do not compromise the immediate usability of reserves.

SAMA and PIF

The interplay between SAMA and the PIF is central to understanding the bigger picture. Saidi explained that their mandates are different as SAMA’s role is to provide currency, banking, and financial market stability, dictating conservative policies.

Meanwhile, the PIF’s mandate drives a more aggressive investment approach, deploying capital in medium- and long-term domestic projects and international assets to boost economic diversification, revenue, and risk reduction, shifting away from oil and gas toward new technologies. 

Holding treasuries provides a buffer against oil revenue shocks while also generating a steady, low-risk stream of income.

Nasser Saidi, founder and president of Nasser Saidi & Associates

He added: “There have also been capital transfers between the two entities: SAMA has reallocated funds into the PIF for long-term strategic investments (with an aim of diversifying away from oil; sometimes into higher-risk, higher-return investments.”

Noor described the relationship similarly, emphasizing that the PIF is the Kingdom’s long-term, higher-risk and higher-return vehicle driving diversification and strategic domestic projects, whereas KSA’s reserves serve as a macro-stability tool. 

Future outlook

This division of roles enables SAMA to maintain stability while the PIF advances Vision 2030’s diversification agenda — a strategy showing results, with Fitch Ratings projecting the Saudi asset management industry to surpass $400 billion by 2026, highlighting the increasing depth and resilience of the Kingdom’s financial ecosystem.

Looking ahead, both experts expect US Treasuries to remain central to Saudi reserves — but with more diversification in the years to come. 

Saidi emphasized that US Treasuries will likely remain the anchor of SAMA’s portfolio due to the dollar peg, but the PIF’s strategy points to greater diversification in the non-reserve segment, with more aggressive investments in private equity, infrastructure, and renewables, as well as artificial intelligence, data centers, technology, and other asset classes.

“Saudi [Arabia] is unlikely to fully abandon the US dollar, despite de-dollarization talks, but expect more diversification and the prospect of a greater role for the Petro-Yuan, given the growing trade and investment links with China, increased holdings in other currencies for trade purposes, and increased holding of gold as a hedge,” Saidi, who has also served as vice governor of the Central Bank of Lebanon for two successive mandates, said.

He added that people should be prepared for the rollout and increased use of a central bank digital currency, a digital riyal, for cross-border transactions as well in the near future.


MENA early-stage funding progresses steadily

MENA early-stage funding progresses steadily
Updated 9 min 10 sec ago

MENA early-stage funding progresses steadily

MENA early-stage funding progresses steadily
  • Companies across a range of industries continue to scale up operations

RIYADH: Startups operating in the Middle East and North Africa witnessed multiple funding rounds in the past week, as companies across a range of industries continue to scale up operations beyond their national borders. 

The sustained momentum in funding underscores investor confidence in the emerging startup landscape in the region amid global economic headwinds. 

Affirming the growth of the startup ecosystem in the region, a report released by Wamda revealed that startup investments in the MENA hit a record high in September, soaring to $3.5 billion across 74 deals.  This growth translates into a 914 percent month-on-month growth and a 1,105 percent year-on-year leap. 

According to Wamda, ֱ led funding activity in the region, with 25 startups raising a combined $2.7 billion, a majority of this coming from the Money20/20 fintech event, which witnessed 15 deals. 

KLIQ secures $2.25m in seed funding round

KLIQ, a Saudi-based artificial intelligence-powered influencer marketing platform, has closed a $2.25 million seed investment round led by Sanabil Venture Studio in partnership with Stryber. 

Founded in 2025 by Asma’a Al-Maraghi and Badr Al-Malluh, the company helps connect brands with content creators through an AI-driven dashboard that manages campaigns, contracts, payments, and real-time performance tracking. 

Cercli raises $12m in series A funding round 

Cercli, a UAE-based workforce management platform, has raised $12 million in a Series A funding round, led by Germany headquartered Picus Capital. 

This investment marks the first in the MENA region for Picus Capital, which manages assets over $1 billion across its portfolio. 

Founded in 2023 by Akeed Azmi and David Reche, Cercli has achieved 10 times revenue growth in the past 12 months. (Supplied)

The funding round also witnessed the participation of Knollwood Investment Advisory, existing investors Y Combinator, Afore Capital, and COTU Ventures. 

The company said that the funding will be used to expand its product suite, accelerate AI development, and scale its global presence across MENA, Europe, and North America.

The investment will also be used to grow its team by hiring talent from leading technology firms. The company added that it has recruited professionals from some of the world’s most recognized companies, including Google, Meta, and Booking.com.

Founded in 2023 by Akeed Azmi and David Reche, the company has achieved 10 times revenue growth in the past 12 months, with its customer base including Vision Bank, Backlite Media, and Global Climate Finance Center, as well as Huspy, Lean Technologies and Ziina.

CADO raises $4.5m

UAE-based gifting platform CADO has raised $4.5 million in a pre-seed funding round, which witnessed participation from venture capital and startup acceleration initiative Sanabil 500, as well as a German family office and a group of high-net-worth and angel investors.

The company revealed that the new funding will help accelerate its expansion in ֱ where it is developing a community ecosystem linking artisans, artists, suppliers, and investors. 

Founded in 2019 by Leila Al-Marashi, the platform combines creativity, logistics, and technology to make corporate gifting smart, effortless, and emotionally resonant.

“Our expansion into ֱ has been an inspiring part of our journey, where we’re building an ecosystem that connects artisans, suppliers, and businesses with a shared commitment to excellence and creativity. This milestone allows us to continue expanding across the region and beyond,” said Al-Marashi. 

TabSense secures $5m round 

Saudi-based AI startup TabSense has raised $5 million in a funding round led by Jasoor Ventures. 

According to a press statement, the investment will be used to launch the first AI Agentic Point of Sale system for multi-branch and franchise restaurants and cafes. 

We’re building an ecosystem that connects artisans, suppliers, and businesses with a shared commitment to excellence and creativity.

Leila Al-Marashi, CADO CEO and founder

The funding will also be used to accelerate product innovation, expand regional sales, and grow its full-stack engineering and AI teams to further advance its agentic intelligence capabilities.

Founded in 2024 by Mohammad Jaber, Mohammad Khleifat, Mohamad Ababatain and Shadi Daboor, the company replaces traditional PoS systems with autonomous AI agents that streamline operations, optimize menus, and automate management tasks. 

“We built TabSense to give restaurant operators more than just a PoS — we built an intelligent teammate,” said Jaber, co-founder of TabSense. 

He added: “PoS systems have remained static for decades, and it’s time they evolved into something that drives business performance, not just records it.” 

SehaTech secures $1.1m

SehaTech, an Egypt-based insurance tech firm, has secured $1.1 million in a seed round, bringing its total funding to $2 million. 

The funding round was led by Ingressive Capital, with participation from Plus VC, a group of strategic angel investors, and existing investors A15, Beltone Venture Capital, and an industry veteran.

The company said that the newly secured funding will be used to scale up its team, expand its operations in Egypt and beyond, and enhance its AI-powered platform with advanced automation tools, according to a press statement. 

“Our goal is not only to fix the operational inefficiencies in medical insurance processing but also to expand access to quality health coverage,” said Mohamed Elshabrawy, founder and CEO of SehaTech. 

He added: “This funding will help us continue building the tools needed to reduce friction between insurers and providers — and ultimately make health insurance more available to the millions who are underserved today.”


How Neom Nature Reserve is shaping the Kingdom’s biodiversity and ecological restoration strategy

How Neom Nature Reserve is shaping the Kingdom’s biodiversity and ecological restoration strategy
Updated 25 October 2025

How Neom Nature Reserve is shaping the Kingdom’s biodiversity and ecological restoration strategy

How Neom Nature Reserve is shaping the Kingdom’s biodiversity and ecological restoration strategy
  • Neom has dedicated team of conservations on the project
  • ‘Building legacy of environmental excellence for the future’

RIYADH: In the Neom Nature Reserve a team of dedicated ֱ conservationists are steadily redefining the future of biodiversity and ecological restoration in the Kingdom.

These experts are safeguarding the area’s distinctive ecosystems and species while leading groundbreaking methods in one of the world’s most visionary environmental conservation initiatives.

Tariq Aljohany, a field restoration specialist at Neom, with experience in flora and fauna studies and familiarity with the local desert landscape, recently told Arab News about the work underway.

“I’m responsible for collecting seeds of native species across Neom. These seeds are then propagated at Neom’s Mneifa Plant Nursery, where we grow plants for active restoration efforts — reintroducing species that should be part of our landscape but have disappeared due to overgrazing and off-road driving.”

Tariq Aljohany is a field restoration specialist at NEOM with experience in flora and fauna studies and familiarity with the local desert landscape. (Supplied)

Aljohany has a deep connection to the desert and its biodiversity. “Since I was a child, my father would take me to visit these landscapes and teach me about their species and cultural value.

“Realizing that these landscapes and species were under threat made me determined to restore them to their former glory for future generations to enjoy,” he said.

Aljohany shared how he and colleagues rescued four Caralluma petraea plants before development began in Trojena.

“We brought them to the Mneifa Plant Nursery and propagated them by cuttings and seed. Now, we have a healthy population of nearly 100 plants in ex-situ conservation, ready to restore populations in Trojena.”

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The reserve serves as the foundation for Neom’s commitment to protect 95 percent of its area for nature.

Under a larger initiative to restore 1.5 million hectares of habitat and revitalize vital wildlife populations, the reserve aims to plant 100 million native trees, shrubs, and grasses to rejuvenate the natural environment.

The reserve also plans to restore the populations of the Arabian oryx, and mountain and sand gazelles.

In the middle of this year, Neom reintroduced over 1,100 animals across six species to its reserve, a significant milestone in its mission to secure a balanced ecosystem.

In the middle of this year, Neom reintroduced over 1,100 animals across six species to its Nature Reserve, a significant milestone in its mission to secure a balanced ecosystem. (Supplied)

Bushra Alabdulhafith, a wildlife conservation science lead at Neom, told Arab News how she was inspired to take up this work.

“Some of my fondest childhood memories are of racing up great sand dunes, visiting wadis during the rainy season, or camping with my family in winter.

“Being in nature brought me peace and a sense of belonging, which fueled my goal to actively protect it,” she said.

Bushra Alabdulhafit and her team also monitor existing wildlife in Neom by setting up camera traps to understand current biodiversity. (Supplied)

“Every animal released, every tree planted, every small change that positively impacts the environment around us has strengthened my inspiration and commitment to this path.”

In her work, Alabdulhafith supports the Rewilding Program’s animal releases and monitoring, including the Arabian oryx, sand gazelles, mountain gazelles, Nubian ibex, and red-neck ostriches.

“I also monitor existing wildlife in Neom through our Long-Term Monitoring Program, setting up camera traps to understand current biodiversity, including Arabian wolves, red foxes, and striped hyenas, and inform future conservation planning,” she said.

In the middle of this year, Neom reintroduced over 1,100 animals across six species to its Nature Reserve, a significant milestone in its mission to secure a balanced ecosystem.

Alabdulhafith recounted how excited she was leading Neom’s first raptor-release program.

“Thanks to our partners at the Saudi Falcon Club, the Hadad Program began at the end of 2024 and continues today. We have released Barbary falcons, monitored them, and successfully recorded baby Barbary chicks hatching.”

“This is just the beginning of our work with raptors, and we aim to expand our conservation efforts to other great birds of prey,” she said.

Neom is recognized as an essential sanctuary not only for its terrestrial biodiversity but also marine megafauna, providing refuge in the Red Sea for species including dolphins, turtles, and dugongs.

Neom is recognized as an essential sanctuary not only for its terrestrial biodiversity but also marine megafauna. (Supplied)

Last year, the King Abdullah University of Science and Technology announced a collaboration with NEOM, through the KAUST Beacon Development environmental consultancy, to enhance research and protection efforts for these distinctive species.

Environmentalists and researchers are using artificial intelligence to analyze extensive drone footage of key megafauna habitats.

This technology allows more precise and effective conservation strategies for Neom’s remarkable marine life, including humpback dolphins, dugongs, green and hawksbill turtles, sharks, and rays.

DID YOU KNOW?

• NEOM Nature Reserve aims to plant 100 million native trees, shrubs, and grasses to rejuvenate the Kingdom’s natural environment.

• The reserve serves as the foundation for Neom’s commitment to protect 95 percent of its area for nature.

• The world’s most extensive coral garden is within Neom, a collaboration with KAUST.

Mishari Alghurair, a marine species conservation manager at Neom, with experience of over a decade, leads a cross-functional team focusing on protecting key species.

The team’s initiatives include satellite tracking of turtles and seabirds, development of conservation plans for marine mammals, and the creation of artificial nesting habitats.

“One of our most exciting breakthroughs has been the successful implementation of artificial nesting platforms for sooty falcons and ospreys on the Neom islands

Mishari Alghurair, a marine species conservation manager at Neom, with his team. (Supplied)

“These structures have provided safe breeding sites, leading to increased nesting success rates and population growth where natural habitats were under pressure,” he said.

Alghurair has fond memories of family trips to the Red Sea coast which strengthened his love for the environment and taught him to appreciate the Kingdom’s rich land and seas.

“It’s about turning that personal pride into meaningful action — protecting species like the sooty falcon and sea turtles and pushing the boundaries of conservation through innovation and collaboration.

“It’s rewarding to be part of a movement that’s building a legacy of environmental excellence for future generations.”
 

 


UnifyApps Raises $50 million to scale enterprise AI Platform and expand Gulf presence

UnifyApps Raises $50 million to scale enterprise AI Platform and expand Gulf presence
Updated 24 October 2025

UnifyApps Raises $50 million to scale enterprise AI Platform and expand Gulf presence

UnifyApps Raises $50 million to scale enterprise AI Platform and expand Gulf presence

DUBAI: UnifyApps has raised $50 million in Series B funding to expand development of its enterprise platform designed to osimplify the implementation of AI across corporate systems.

According to the company, the move comes at a critical time when it is looking to expand it’s Gulf teams – as the region experiences a boom in AI investment and development.

Unify Apps already leds projects for Abu Dhabi Department of Gov Enablement, Air Arabia, Digital Dubai Authority, Department of Digital Ajman, Department of Economy & Tourism, Smiles by E&

The round was led by WestBridge Capital with participation from ICONIQ and other investors, bringing the company’s total funding to $81 million.

The company also announced that enterprise software veteran and early investor Ragy Thomas will join UnifyApps as chairman and co-chief executive officer, working alongside co-founder and CEO Pavitar Singh.

“In the UAE and ֱ, governments are advancing landmark national plans such as UAE’s AI Strategy 2031 and ֱ’s National Strategy for Data & AI (NSDAI), which places AI, data governance and digital transformation at the heart of their future growth. Every software workflow and core business process, from finance to supply chain, HR to healthcare, will be reimagined with AI at its core,” Thomas said in a satement.

“UnifyApps is building the platform that will enable enterprises in the Gulf to fulfil those visions.”

UnifyApps’ platform is intended to address the challenge with scaling generative AI projects beyond small pilots. According to the company, difficulties are often due to the inability of large language models to access fragmented systems of record and internal knowledge sources, as well as an absence of integration with workplace systems where tasks are actually executed. As a result, the company says enterprises can accumulate multiple disconnected AI applications that require separate integrations, adding cost and complexity.

UnifyApps markets its software as an “Enterprise Operating System for AI,” positioned to unify data sources, business processes, and AI models.


Future Investment Initiative Institute announces global partners for FII9

Future Investment Initiative Institute announces global partners for FII9
Updated 24 October 2025

Future Investment Initiative Institute announces global partners for FII9

Future Investment Initiative Institute announces global partners for FII9

RIYADH: The Future Investment Initiative Institute has announced its roster of global partners for the 9th edition of its flagship conference taking place in Riyadh from Oct. 27 to 30.

This year’s conference, held under the theme “The Key to Prosperity” will bring together the world’s most influential leaders, investors, policymakers, CEOs, and innovators, according to the Saudi Press Agency. 

Delegates will address the paradoxes shaping today’s world to chart actionable strategies for inclusive and sustainable prosperity.

FII Institute recognized the continued support of its founding partner, the Public Investment Fund, and its Vision Partners, the Ministry of Investment and Saudi Aramco, whose leadership and collaboration remain vital to advancing the institute’s global mission, the SPA report said.

The institute welcomed this year a group of new strategic partners, including Arabian Dyar, Barclays, and Brookfield, as well as EFG Hermes, Guggenheim Investments, and HUMAIN.

MARA, Mizuho, and MUFG have also joined as partners, as have Saudi Electricity Company, SMBC Group, Soudah Development, and VCM.

FII Institute acting CEO and chairman of the executive committee Richard Attias said: “Our partners are at the heart of everything we do at FII Institute. 

“Their commitment and collaboration enable us to translate vision into action, action into measurable impact, and to be sustainable. 

“With over 60 partners this year, we are proud to convene a global coalition driving sustainable growth, responsible innovation, and inclusive prosperity.”

Partners already working with FII9 span investment, finance, and technology, as well as infrastructure, and energy.

These include ACWA Power, ALAT, and Diriyah, as well as Emaar, Franklin Templeton, and GFH.

Other partners include Neom, Red Sea Global, and Riyadh Air.

“Together, these partners strengthen the institute’s mission to advance impact-driven initiatives and foster collaboration across industries and borders, accelerating sustainable progress for humanity,” said the SPA report.

The FII Ventures Program welcomed a new partner, the Saudi National Technology Development Program, to support an expanding ecosystem that connects visionary entrepreneurs with global investors to accelerate innovation and drive scalable impact.