Qura Development and Construction Company, owner and executor of the MASAR project announced on Thursday the signing of a 15 years framework agreement for strategic partnership with Advanced Communications and Electronics Systems Company (ACES). The agreement aims to equip and develop the 5G ICT wireless communication infrastructure (mobile services) to create a modern and intelligent environment for destination visitors, residents and visitors of Makkah, for 15 years. The agreement was signed by ACES, CEO Dr. Akram Aburas and Umm Al-Qura Development and Construction Company (UAQ) represented, Eng. Abdul Mohsen Al-Bakr, Chief Development Officer. Held in Riyadh from February 1-3, 2022, LEAP 22 Summit is a leading global technology event featuring over 700 emerging technology companies. ACES is a CITC licensed Wholesale Infrastructure Service Provider and is a leading International Digital Neutral Host Company and is participating in LEAP 22 along with its strategic investor eWTP Arabia. Chairman of Saudi Federation for Cyber Security, Programming and Drones (SAFCSP), Board Member of Communications and Information Technology Commission (CITC), Mr. Faisal Alkhamisi attended the signing ceremony. He expressed his congratulations to Aces, and thought Aces is one of the best digital infrastructure companies in the Kingdom and looking forward to its better future development. The event was also attended and witnessed by Eng. Bassam Al-Bassam, Deputy Minister For Telecom And Infrastructure Saudi Arabia, ACES CTO Dr. Khalid Al Mashouq, ACES COO Mr. Atef Aburas, ACES General Manager Mr. Sultan Al Mashouq. With the signing of the project, ACES is committed to provide 5G Mobile Telecom network service for the public area and thus supporting religious, social and commercial activities to Hajj and Umrah pilgrims, visitors and local residents all year round. This initiative is in line with Kingdoms Vision 2030 and is also greatly supported by the MENA venture capital eWTP Arabia Capital and other partners. eWTP Arabia Capital's Managing Partner Jerry Li commented at the event, " ACES is the first local company we invested in Saudi Arabia in 2020 as we believe in team's capabilities and experience. Even though Aces is not a startup, their business is related to digital infrastructure which is the most important area that the Kingdom needs, with huge potential market size. In addition, their qualifications and service capabilities are also unique in the market. In the past two years, they have won lots of major projects, proving their competitiveness in the industry. We are very optimistic regarding to the company's future growth and will continue to provide the company with the resources and the support they need. We will also spare no effort of further supporting the company for its global expansion with whatever resources they might need." Dr. Akram Aburas, CEO of ACES, confirmed that the agreement stipulates that the company will equip the infrastructure of the project to cover it with the latest modern and intelligent technologies to upgrade mobile services, secure better coverage and improve the user experience by raising mobile internet speeds in the main and secondary roads of the project, tunnels, parking, the boulevard area and the services associated with the project. Eng. Abdul Mohsen Al Bakr, CDO of UAQ, expressed his pride in partnering with ACES, which aims to equip and develop infrastructure with the latest means of wireless communications. Al Bakr stressed that the infrastructure of the destination has been designed to the highest standards of the modern destination industry to support the investment system, which includes many smart technical systems, all of which are connected to the main data center that covers all the needs of ICT, digital and innovative technologies that will be available in the destination, and will provide the space that requires telecommunications service providers to provide their services throughout the destination. Advanced Communications and Electronics Systems (ACES) is one of the leading companies in the Kingdom and the Middle East in implementing the infrastructure of mega projects. Several important projects have already been implemented, most notably the expansion of the Holy Mosque in Makkah (The Third Saudi Expansion Project), the Riyadh Metro Public Transport Project and King Khalid International Airport in Riyadh, as well as several important sites outside the Kingdom. MASAR is an inspiring destination, with a developmental and investment vision for the next 100 years. Strategically positioned at the center of the holy city of Makkah and offering a diverse range of investment opportunities with 205 development plots through Makkah's first integrated investment ecosystem. Masar destination is to become a modern urban landmark, offering unparallel experiences with an area of 1.2 million square meters spreading over 3,650 meters in length that is supported with an un unprecedented infrastructure. Through its state-of-the-art design and unique offerings, Masar destination will elevate Makkah's urban landscape and pioneers quality of life for its residence and visitors. eWTP Arabia Capital, the stragetic shareholder of Aces, is one of the largest MENA-focused venture capital funds based in Riyadh. It is aggressively evaluating and proactively creating technology opportunities in the Kingdom and MENA region. The Fund is particularly focused on building critical technology infrastructure in the Kingdom to provide springboard for ambitious entrepreneurs.
