DMC and King Abdullah Financial District sign Smart City Platform agreement
Riyadh, September 04, 2023, An agreement for joint development, construction, and management of the Smart City Platform was just inked by the King Abdullah Financial District Development and Management Company (KAFD DMC). Diese Platform makes use of artificial intelligence and data analysis to connect and activate digital technologies within the Center. With the use of cutting-edge technology and artificial intelligence, the objective is to offer a wide range of integrated digital services, coordinate cutting-edge systems, increase data efficiency, and highlight KAFD's status as a smart city. The CEO of KAFD DMC, Gautam Sashittal, emphasized that global urbanization trends are anticipated to create a market for smart city solutions worth $517 billion with a 25% annual growth rate. He said that this is consistent with KAFD's goal of creating a sustainable and welcoming centre in Riyadh. Sashittal noted that the partnership agreement represents a crucial step towards realizing this vision and furthering KAFD's goal of being a world leader in the creation of smart cities. The goal of KAFD is to establish a top-notch urban setting and a high-end way of life to locals, businesses, and tourists. All of their initiatives are consistent with the Saudi Vision 2030's Quality of Life program, which aims to improve the region's general wellbeing and experiences.