Oracle to invest $1.5bn for enhanced cloud computing capacity in Saudi Arabia

Oracle will open a new public cloud region in Riyadh, Saudi Arabia, as part of the company’s proposed $1.5 billion to increase cloud infrastructure capabilities in the Kingdom.

The investment forms part of a memorandum of understanding (MoU) signed by Oracle with the Ministry of Communications and Information Technology (MCIT).

Named Oracle Cloud Riyadh Region, the new cloud region will be the company’s third public cloud region in Saudi Arabia and adds to its current Oracle Cloud Jeddah Region and the anticipated Oracle Cloud Region, which will be situated in NEOM, a planned smart city in Tabuk Province in north-western Saudi Arabia.

In addition, Oracle will increase the capacity of the Oracle Cloud Jeddah Region to meet the increasing demand for its cloud business in the Kingdom.

Khalid Al-Falih — Saudi Arabia Investment Minister said: “Oracle’s decision to expand its cloud computing capacity in the Kingdom will play a key role in unlocking the opportunities that rapid technological advancements are creating.”

Oracle Cloud Infrastructure (OCI) offers customers the choice to deploy OCI based on regulations, data residency, or latency requirements.

Richard Smith — Oracle Technology-EMEA Executive Vice President said: “Oracle Cloud delivers pioneering innovation in technologies like AI, Machine Learning, and IoT, and it will help fuel the economic growth and digital transformation that is an integral part of the Saudi Vision 2030.”

With the proposed cloud region, Oracle will operate half a dozen cloud regions in the Middle East.

Oracle Cloud Regions are currently available in Jeddah, Dubai, and Abu Dhabi.

Oracle offers cloud services across 41 commercial and government cloud regions in 22 countries on five continents.

OCI currently operates 34 commercial regions and seven government regions, besides several dedicated and national security regions.