RIYADH: Saudi research and development firm Forming Future Co. has joined forces with two subsidiaries of Oman’s ITHCA Group to advance 3D printing technology within the real estate sector.
The agreements involve InnoTech and Codeline, both offspring of ITHCA Group, which was previously known as Oman Information and Communication Technologies Group.
This Saudi-Omani collaboration aims to facilitate InnoTech’s expansion into construction automation and manufacturing utilizing 3D printing technology while strengthening its presence in Gulf and regional markets.
As part of these agreements, Forming Future will participate in InnoTech’s regional investment expansion round to advance the printing technology within the real estate sector, the Oman News Agency reported.
Simultaneously, Forming Future inked a similar agreement with Codeline, a company specializing in training young talents in computer software. Under this agreement, the Omani firm will provide advanced software training services to the Saudi entity to support its expansion in this domain.
This agreement marks a strategic breakthrough for localizing young talent in computer programming, contributing to the acceleration of startup growth in both countries and the creation of numerous job opportunities.
ITHCA Group CEO Said bin Abdullah Al-Mandhari explained that through these technical partnerships, they aim to support and motivate Omani companies to enter regional and global markets by securing investments from strategic investors outside the country, the report added.
This will equip them with the capabilities and advanced technology to expand Omani companies’ operational businesses in new markets.
He highlighted that the signing of these agreements by InnoTech and Codeline aligns with the Group’s initiative to boost exports to Omani technology firms, ultimately increasing the sector’s contribution to the Sultanate’s gross domestic product.
Forming Future CEO Sattam Ali noted that the company conducted extensive research on concrete printing companies worldwide and concluded that InnoTech is the top regional choice.
He emphasized the promising nature of this sector and how the investment agreement with the Omani company will empower them in the Saudi market.