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Demand in the Kingdom is coming from critical sectors, such as oil, gas, defense, and utilities
Updated 13 May 2021
May 13, 2021 00:30
JEDDAH: The global uncertainty created by the coronavirus disease (COVID-19) pandemic was a challenging time for many industries. However, for some, such as Zoom or Amazon, it was a blessing in disguise and a catalyst for accelerated growth.
The 3D printing sector also saw a rapid surge in demand.
Dubai-headquartered Immensa Technology Labs reported that its business grew by nearly 400 percent in 2020, as global supply chains were disrupted, and operators scrambled to find an alternative.
“The pandemic was probably one of the biggest propellers for this technology, the year of COVID-19 is the year that 3D printing grew up and became mainstream,” CEO and founder of Immensa, Fahmi Al-Shawwa, told Arab News.
Helios Towers seals $575M Omantel deal - Mobile World Live 11 MAY 2021
Helios Towers agreed to take over Omantel’s passive tower infrastructure portfolio of nearly 3,000 sites for $575 million, as the infrastructure company targets what it claims is a significant growth opportunity in the Middle East.
Through the deal, Helios Towers will acquire Omantel’s 2,890 sites, initially for 15 years.
Helios Towers noted the move is in line with a new market and growth strategy, stating it will be “immediately accretive to earnings”, with $59 million in revenue expected during its first operational year.
The company also said the deal will deliver on geographic expansion targets “well ahead” of the 2025 goal.