Riyadh — Saudi research and development firm, Forming Future Co., has embarked on a strategic partnership with two subsidiaries of Oman's ITHCA Group to promote the utilization of 3D printing technology within the real estate sector.
The collaborative agreements involve InnoTech and Codeline, both entities operating under the umbrella of ITHCA Group, previously known as Oman Information and Communication Technologies Group.
This Saudi-Omani alliance is geared towards facilitating InnoTech's expansion into construction automation and manufacturing by harnessing 3D printing technology. Simultaneously, it aims to bolster InnoTech's presence in the Gulf and regional markets.
As a part of these agreements, Forming Future will actively participate in InnoTech's regional investment expansion round, with a specific focus on advancing 3D printing technology within the real estate sector. This partnership is expected to drive innovation and technological growth in the construction industry.
Additionally, Forming Future has also entered into a similar agreement with Codeline, an Omani firm renowned for its expertise in providing advanced software training services. Under this collaboration, Codeline will extend its software training services to the Saudi firm, thereby supporting its expansion efforts in this domain.
This agreement signifies a strategic milestone in nurturing young talent in computer programming, thereby accelerating the growth of startups in both Saudi Arabia and Oman. It is anticipated that this collaboration will lead to the creation of numerous job opportunities in the technology sector.
Said bin Abdullah Al-Mandhari, CEO of ITHCA Group, emphasized that these technical partnerships are aimed at motivating Omani companies to explore new regional and global markets. By securing investments from strategic partners outside Oman, these companies will gain access to cutting-edge technology and capabilities that will facilitate their expansion into new markets.
Al-Mandhari further highlighted that these agreements, signed by InnoTech and Codeline, align with the Group's initiative to boost exports for Omani technology firms, ultimately contributing to the sector's growth and its increased contribution to Oman's gross domestic product (GDP).
Forming Future's CEO, Sattam Ali, underscored the extensive research conducted by the company, which concluded that InnoTech stands as the top regional choice in the field of concrete printing companies. He expressed optimism regarding the promising nature of this sector and emphasized how the investment agreement with the Omani company would empower Forming Future in the Saudi market.
This collaboration between Saudi Arabia and Oman marks a significant step towards leveraging cutting-edge technology to enhance the real estate sector and foster innovation in both countries.