Chinese contractor Fangda Group has won a SAR 1.15 billion ($306 million) contract through a joint venture for the Qiddiya City stadium in Saudi Arabia. The China-Saudi venture will engineer, manufacture, and install the venue's exterior curtain-wall systems. The award forms part of the ongoing Saudi Vision 2030 development program.
Tencent Cloud has formed a strategic partnership with Saudi Arabia's OmniOps to build sovereign artificial intelligence infrastructure. The collaboration aims to support enterprise AI platforms and model inference workloads across Saudi Arabia. Tencent Cloud will deliver cloud computing services, while OmniOps will provide local deployment and inference optimization.
Dubai-based Mashreq Bank has injected USD 125 million into its Hong Kong arm to expand cross-border financial services for Chinese firms and Middle Eastern investors. Concurrently, Chinese EV giant BYD is accelerating GCC capital investment in partnership with Al-Futtaim, operating 10 regional showrooms across the UAE and Saudi Arabia.
Ahead of the 2026 China International Import Expo, ACWA Power leadership highlighted expanding commercial and clean energy cooperation between China and Gulf businesses. The collaboration spans renewable energy, green hydrogen, battery storage, and seawater desalination alongside consumer goods exports.
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