LEAP24 witnesses launch of $13.4B investments

The third edition of LEAP 24 conference witnessed the launch of investments worth more than $13.4 billion, said Faisal Al-Khamissi, Chairman of the Saudi Federation for Cyber Security and Programming (SAFCSP).

LEAP 24 has officially become the most attended technical conference in the world, with the participation of 215,000 visitors, which clearly led to an increase in Riyadh hotel occupancy rate to 99%, Saudi Press Agency reported, citing Al-Khamissi.

Amazon Web Services revealed its plan to invest $5.3 billion in establishing a high-capacity cloud region in the Kingdom, which enhances the technological capabilities in the region.

Meanwhile, IBM announced an investment of $250 million to set up the first global software development center in the Kingdom, which contributes to boosting technology and innovation skills.

ServiceNow announced an investment worth $500 million to launch its first data center in the region, which represents a major addition to the digital infrastructure in Saudi Arabia.