Qiddiya and leading tech company Globant agree a landmark partnership to make Saudi Arabia's Qiddiya City one of the world's most immersive entertainment hubs

Rhea-AI Summary

Globant (NYSE: GLOB) and Qiddiya Investment Company (QIC) have announced a strategic partnership to develop the Qiddiya 'PLAY LIFE Connected Experience', a digital ecosystem for Saudi Arabia's Qiddiya City entertainment hub. The system will utilize artificial intelligence, data analytics, and cloud technology to create a personalized interface for visitors to book events, manage itineraries, and receive real-time updates. The partnership aims to transform Qiddiya City into one of the world's most immersive entertainment destinations, while also supporting local talent development in line with Saudi Vision 2030.

Positive

• Strategic expansion into the MENA region, one of the world's fastest-growing digital innovation markets
• Significant partnership for digital transformation of a major entertainment destination
• Opportunity to establish leadership in smart city development and digital ecosystems
• Project aligns with Saudi Vision 2030, providing long-term growth potential

Negative

• None.

Insights

Tech Industry Analyst

This landmark partnership positions Globant as a key player in Saudi Arabia's digital transformation initiatives, particularly in the entertainment and smart city sectors. The development of the PLAY LIFE Connected Experience platform represents a significant revenue opportunity, given Qiddiya City's projected visitor numbers and the scope of the digital ecosystem required.

The deal strengthens Globant's foothold in the lucrative MENA region, where digital transformation spending is growing rapidly. This strategic expansion aligns with Saudi Vision 2030's technology initiatives and opens doors to additional government contracts. The project's focus on AI, data analytics and cloud technologies showcases Globant's core competencies while creating recurring revenue streams through platform maintenance and updates.

Market Research Analyst

The partnership significantly expands Globant's addressable market in the Middle East, where digital transformation projects are backed by substantial government funding. Saudi Arabia's entertainment sector is projected to grow exponentially, with Qiddiya City being a flagship project. The deal provides Globant with a high-profile reference case for similar large-scale digital transformation projects in the region.

The focus on local talent development through upskilling programs creates a sustainable long-term presence in Saudi Arabia, potentially leading to additional contracts in the kingdom's various giga-projects. This positions Globant advantageously against competitors in the rapidly growing MENA market.

• Qiddiya Investment Company (QIC) and Globant, a digitally native company focused on reinventing businesses through innovative technology solutions, announce a new landmark partnership to create a state-of-the-art digital ecosystem for Qiddiya City, the new global destination for entertainment, sports, and culture built on the foundations of play.

• At the heart of this collaboration will be the Qiddiya "PLAY LIFE Connected Experience", offering visitors a seamless, personalized interface to book events and manage their itineraries, providing real-time updates and recommendations tailored to individual preferences. 

• Qiddiya City is set to attract millions of annual visitors, combining cutting-edge technology with unparalleled experiences to establish a unique, world-class destination unlike any other on the planet. 

RIYADH, Saudi Arabia, Nov. 4, 2024 /PRNewswire/ -- Qiddiya Investment Company (QIC) and leading technology company Globant (NYSE: GLOB) have announced a significant new partnership that will cement Saudi Arabia's landmark new destination Qiddiya City as one of the world's most immersive hubs for entertainment, sports and culture.

As part of the collaboration, Globant - a digitally native company focused on reinventing businesses with innovative technology solutions - will work with QIC to develop the Qiddiya "PLAY LIFE Connected Experience", a cutting-edge digital ecosystem designed to transform how visitors and residents interact with the unique destination's wide range of offerings.

The system will leverage artificial intelligence, data analytics, and cloud technology to develop a seamless interface that personalizes and enhances every interaction at Qiddiya City. It will allow visitors to book events, manage their itineraries, discover new adventures, and engage with the community, all through a personalized, real-time interface. Whether attending a sporting event, exploring cultural attractions, or participating in world-class entertainment, the "PLAY LIFE Connected Experience" will enrich every moment.

Abdulrahman Alali, QIC's Chief Technology Officer, underscored the importance of the new partnership in achieving Qiddiya's ambitions. "Our partnership with Globant marks a pivotal step in realizing Qiddiya's vision as the world's first city dedicated entirely to play," he said.

"The Qiddiya PLAY LIFE Connected Experience will not only enhance how visitors engage with our attractions but also set a new standard for digital integration in entertainment and tourism. We are creating a destination that is both innovative and unforgettable, and this collaboration will help ensure that every visitor's journey is personalized, seamless, and truly unique," Abdulrahman Alali added.

The partnership substantiates Globant's pivotal role in Saudi Arabia's smart city initiatives and its broader digital transformation efforts.

Federico Pienovi, CEO & CBO of New Markets at Globant said: "Partnering with Qiddiya on this program is a major milestone for Globant. We are not building a smart city; but creating an immersive, digitally connected experience that brings Qiddiya to life in ways that go beyond traditional entertainment. This is the future of how cities and people will interact, and we are thrilled to lead this transformation."

Globant's expertise in creating immersive digital experiences is central to the success of the PLAY LIFE Connected Experience, which will be a cornerstone of Qiddiya's dynamic offerings. By incorporating cutting-edge technologies, Globant is ensuring that Qiddiya City becomes a world-leading example of how digital ecosystems can enhance the entertainment and cultural sectors. In addition to digital innovation, this collaboration emphasizes the development of local talent, in line with Saudi Vision 2030.

Mamdouh Aldoubayan, Managing Director for MENA at Globant, highlighted the importance of this project for the Saudi workforce: "At Globant, we are deeply committed to fostering the growth of local talent. Projects like Qiddiya provide unparalleled opportunities to transfer our expertise in digital transformation and innovation especially in the entertainment industry to the new generation of Saudis. As a result of creating opportunities for upskilling and reskilling, we are not only helping to build the future workforce but also enabling the Kingdom to become a leader in digital ecosystems."

Globant's collaboration with QIC marks a significant step in the company's expansion into Saudi Arabia and the broader MENA region, one of the world's fastest-growing markets for digital innovation. This strategic move allows Globant to leverage its expertise in artificial intelligence, data analytics, and cloud technologies across various sectors, from entertainment to smart city development. By contributing to projects aligned with Saudi Arabia's Vision 2030 goals, Globant is positioning itself at the forefront of technological advancement in the region. This partnership not only enhances Globant's global footprint but also reinforces its role as a leader in digital transformation, capable of driving innovative solutions and shaping technological progress in key markets worldwide.

About Qiddiya

As one of Saudi Arabia's leading giga-projects, Qiddiya is key to Vision 2030's ambitions for a vibrant society, a thriving economy, and an ambitious nation. Qiddiya seeks to build destinations, programs, and initiatives based on its founding 'Power of Play' philosophy. This philosophy aims to redefine how people live, work, and play - laying the groundwork for a future where play is not just an activity but a way of life.

Qiddiya City is Qiddiya's inaugural project; the world's first purpose-built city dedicated to play. Located at the heart of the Tuwaiq Mountains just 40 minutes from the capital of Riyadh, Qiddiya City brings entertainment, sports and culture together to create a unique and unforgettable destination like no other on the planet.

The vibrant new city will boast more than 400 tourist attractions and experiences including high-energy entertainment venues, branded theme parks and world-leading arenas. It is set to host some of the world's biggest sports competitions, festivals, concerts, and cultural events with a motorsports track, a record-breaking stadium, championship golf courses, gaming and esports arenas and an iconic performing arts center among some of its many attractions.

For more information, visit www.qiddiya.com.

About Globant

At Globant, we create the digitally-native products that people love. We bridge the gap between businesses and consumers through technology and creativity, leveraging our experience as an AI powerhouse. We dare to digitally transform organizations and strive to delight their customers.

• We have more than 29,100 employees and are present in 33 countries across 5 continents, working for companies like Google, Electronic Arts, and Santander, among others.
• We were named a Worldwide Leader in AI Services (2023) and a Worldwide Leader in CX Improvement Services (2020) by IDC MarketScape report.
• We are the fastest-growing IT brand and the 5th strongest IT brand globally (2024), according to Brand Finance.
• We were featured as a business case study at Harvard, MIT, and Stanford.
• We are active members of The Green Software Foundation (GSF) and the Cybersecurity Tech Accord.

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FAQ

What is Globant's role in the Qiddiya City project?

Globant (GLOB) will develop the Qiddiya 'PLAY LIFE Connected Experience', a digital ecosystem using AI, data analytics, and cloud technology to create personalized visitor experiences and manage entertainment services.

How will the Qiddiya partnership impact Globant's market presence?

The partnership expands Globant's (GLOB) presence in the MENA region, positioning the company as a leader in digital transformation and smart city development while aligning with Saudi Vision 2030.

What technologies will Globant implement in the Qiddiya City project?

Globant (GLOB) will implement artificial intelligence, data analytics, and cloud technology to create a seamless interface for event booking, itinerary management, and personalized recommendations.