Riyadh - Sharikat Mubasher: Al Moammar Information Systems Company (MIS), a leading Saudi provider of IT solutions, signed a memorandum of understanding (MoU) with Saudi Fransi Capital, on behalf of the Saudi Data Center Fund 1, to develop additional data centers in Riyadh, Dammam, and Jeddah.

Under the MoU, both parties will study and evaluate developing three additional data centers by the Saudi Data Center Fund 1, with an aggregate capacity of approximately 48 MW, MIS stated in a bourse filing.

MIS will act as the developer, designer, and EPC contractor for such capacity, in addition to providing the ongoing asset and facilities management services for the data centers.

This collaboration aligns with Saudi Arabia’s broader strategy to build an integrated, AI-powered digital ecosystem that includes advanced data centers, cloud computing, innovative language models, and cutting-edge applications, thereby reinforcing the Kingdom’s position as a global leader in AI infrastructure and capacity building.