Oracle plans to invest $1.5 billion in Saudi Arabia in the coming years as it builds up its cloud footprint in the kingdom and opens its third public cloud region in Riyadh, Reuters news report said.
“We are finalising the plans for opening the Riyadh region. We are still working with our suppliers before we can announce the actual date,” Nick Redshaw, a senior vice president at Oracle, said in an interview from Dubai.
Nick Redshaw said the investment will be made over several years without providing detail. He added that Oracle would also expand the capacity of its cloud region in Jeddah, which the company first opened in 2020.
The company made the announcement as global tech companies gathered for a major tech conference in the Saudi capital.
