Search Site

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme

Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

NHC, NAVER Cloud ink pact

The pact will help in utilizing three-dimensional maps of cities and create simulation models as a virtual representation of urban planning. (Creative Commons)
  • The agreement aims to boost cooperation, achieve common goals, exchange experience in the application of the innovative solutions.
  • The pact will help achieve the strategic visions of the municipal and housing sectors by adopting the best technologies for a sustainable future.

RIYADH, SAUDI ARABIA – The National Housing Company (NHC) on Tuesday signed a cooperation agreement with the Korean NAVER Cloud Corporation, on the occasion of 50 years of Korean-Saudi cooperation in the field of construction.

The agreement, signed in the presence of President of South Korea Yoon Suk Yeol, aims to boost cooperation, achieve common goals, exchange experience in the application of the best innovative solutions and practices, and integrate spatial data layers in geographic information systems (GIS).

It also aims at laying the foundation for the advanced digital solutions that NHC is working to develop and operate in the main cities of the Kingdom through the Baladi platform.

The platform includes three-dimensional maps of cities and creates simulation models as a virtual representation of urban planning, flood management, and control and monitoring centers.

NHC CEO Engineer Mohammed Albuty said that the agreement comes as a reaffirmation of NHC’s keenness to establish effective partnerships with leading technical systems to be able to carry out the best global practices.

He said that the pact will help achieve the strategic visions of the municipal and housing sectors by adopting the best technologies to achieve a sustainable future, through comprehensive development, improving the quality of life of citizens, developing smart infrastructure, coming up with advanced technical solutions.

He added that it would also boost digital capability to develop and operate a number of government digital platforms.