Kinan International for Real Estate Development has signed a memorandum of understanding (MoU) with multinational corporation Cisco to set up and manage the Information & Communication Technology (ICT) infrastructure for its SR2.2 billion landmark project in Jeddah. Under the agreement, Cisco will assist Kinan in evaluating potential advisory services and building the Connectivity and Unified Communication Backbone for the “smart development” project. This includes evaluating and recommending communication components and providing near infinite fiber optic connectivity for SMART life style applications (IP network, home & office automation, digital signage, security, and building management system). The agreement further enhances Kinan's status as the most innovative real estate developer in Saudi Arabia. In 2005 and 2006, Kinan won the “Best Retail Real Estate Developer” award for building and operating several large commercial malls in Saudi Arabia. The MoU was signed recently by Eng. Abdulmalik Fathaddin, president of Kinan, and Dr. Badr Al-Badr, managing director of Cisco - Saudi Arabia. Fathaddin said Kinan, a SR3 billion award-winning company founded by the Savola Group in 2005, will apply the smart development concept on its one of the most modern mixed-use lifestyle projects in Saudi Arabia, incorporating offices, residential apartments, a 5-star hotel, high end retail, and hanging gardens located in Jeddah at the intersection of Al-Andalus and King Abdullah roads. “This is a real step forward towards matching the growing sophistication of the Saudi consumer who is becoming increasingly discerning,” said Fathaddin about the unparalleled value addition offered to consumer in the project's “smart concept” ‘By pioneering this revolutionary concept of intelligent, smart development, Kinan aims to maintain its edge in Saudi Arabia's increasingly competitive real estate sector,” said Fathaddin. Cisco Systems, founded in 1984 and now a $30 billion company with more than 63,000 employees worldwide, is a leader in the development of Internet Protocol (IP)-based networking technologies. Its areas of expertise include IP telephony, wireless networking, IP video & mobility. In 2007, Cisco notched SR35 billion in annual revenues. __
