MIS locks in its fivefold data center expansion for Humain

Compute and multiply

Al Moammar Information Systems (MIS) signed a definitive agreement with Humain to design and build 250 MW AI data centers, expanding the project from an initial 50 MW. This contract replaces a prior one the two signed in March and carries a value of c. SAR 8.76 bn. Humain will issue the EPC scope sequentially through work orders.

Why it matters: Humain’s newest financing vehicle is being raised specifically to fund the 250 MW capacity buildout by MIS. The PIF’s AI arm is pulling together an initial USD 2.5 bn — managed by BSF Capital, pending CMA approval expected within two to three months, with provision to scale to 1 GW. MIS is separately spending USD 1.2 bn to lift its own capacity to 192 MW, and this month handed Edarat a SAR 197.8 mn award for engineering and commissioning on a 200 MW facility.

Jafurah rollout

A Hyundai Engineering and Hyundai E&C consortium completed Phase One of the Jafurah Gas Processing Facilities, a major hub serving Aramco’s flagship unconventional gas field, Hyundai Engineering posted on LinkedIn. The USD 1.65 bn build ran 45 months through August 2025, delivering gas processing and sulphur recovery units, along with associated utilities and offsite infrastructure.

More is already underway. The same consortium is already at work on Phase Two under a USD 2.3 bn award it won in December 2023. Meanwhile, engineering, procurement, and construction work for Phase Four has already started, with bids submitted for Phase Five.

REMEMBER- Spanning around 17k sq km, the Jafurah basin is the largest liquids-rich shale gas play in the MENA region, with estimated reserves of 229 tcf of raw gas and 75 bn stock tank barrels of condensate.

PIF wants Saudi suppliers paid faster

PIF has set up its own supply-chain financing platform. The Public Investment Fund (PIF) launched Tawrid Company for Financing Solutions, a digital platform that lets Saudi companies raise working capital against approved invoices — early settlement for suppliers, with local banks funding the other side, according to a press release. Pitched mainly at SMEs, it is operating under the Saudi Central Bank's (Sama) regulatory sandbox.

Banks are already on board: Live and operational, Tawrid has signed binding agreements with Gulf International Bank, Saudi National Bank, Banque Saudi Fransi, Roshn Group, and Nesma & Partners.

IN CONTEXT- Tawrid lands amid a rush of capital toward Saudi SMEs, days after the Kingdom approved a national SME strategy last week that puts access to finance at its center. The Small and Medium Enterprises General Authority (Monsha'at) and STC Bank lined up as much as SAR 5 bn in shariah-compliant SME financing, and debt crowdfunding platform Lendo signed partnerships worth up to SAR 890 mn.

Hasbro is coming to Jeddah

Baan Holding is building a Hasbro-branded entertainment center in Jeddah. The company has broken ground on Playocity, a 2.6k sqm family entertainment venue at Westfield Jeddah, developed with US toy and games maker Hasbro, Argaam reports, citing a Tadawul filing. Baan expects to open and begin commercial operations in 1Q 2027.

Baan Holding has been diversifying its portfolio, acquiring SAR 830.1 mn of real estate assets — a mix of hotels and residential — from Al Hokair Holding Group and Al Oula Real Estate Development in May.

TMG and Roshn explore 55k homes in Riyadh

TMG Saudi and PIF’s Roshn Group are teaming up on a mixed-use megaproject in Riyadh. The Saudi arm of Egypt's Talaat Moustafa Group (TMG) has signed a preliminary agreement with Roshn to form a joint venture — TMG holding 51%, Roshn 49% — to explore developing a mixed-use community on a Riyadh site, according to a bourse filing (pdf). The plan envisions more than 55k residential units alongside retail, commercial, hospitality, healthcare, education, and public spaces.

TMG has spent months deepening its Saudi footprint. The Egyptian development giant is already building Banan, a 10 mn sqm mixed-use city in Riyadh's Al Fursan suburb, with the National Housing Company. PIF's Sela and TMG have separately agreed to build out an events-and-entertainment business in Egypt, and in June the fund signed a non-binding MoU with TMG to explore mixed-use projects across its developments in the Kingdom.