Saudi Prince Announce to Launch $100 Million Tech House in Pakistan

Newstoday: Fahad Bin Mansour, Prince of Saudi Arabia announced to launch tech house worth $100 million. The initiative is taken for the reason to create an opportunity through collaboration through a partnership with Pakistan IT companies. The goal is include in the Saudi government's vision 2030 strategic framework with the aim to take away Saudi from only oil dependency and want to build its global investment powerhouse with digital infrastructure. Saudi Arabia is projected to have spent about $500 billion to fulfill the aims, which include the construction of new cities. Earlier this year, Prince Fahad announced his ambitions to establish a tech house at Pakistan's largest digital convention, Future Fest. He stated that the tech house's goal will be to strengthen economic links between Saudi Arabia and Pakistan.

The tech house will be run by ILSA Interactive, it is a company that was founded in 2009 by Prince Fahad and Pakistani entrepreneur Salman Nasir with offices in Riyadh and Lahore. The Prince expressed his confidence in future work and investment and startups to form partnerships that would improve the game changer for both fo countries and will build the bilateral much stronger than before. While addressing the occasion, Saudi Ambassador Nawaf Bin Said Al-Maliki stated that he is delighted to be a part of the inaugural ceremony of the Saudi-Pakistan Tech House, which would promote collaboration between Pakistan and Saudi Arabia in the field of information technology.