Elm, backed by Saudi Arabia's sovereign Public Investment Fund, expresses strong 'appetite' for engaging with Northern Metropolis project
A Saudi Arabian tech giant has made Hong Kong its first stop on its maiden visit to Asia, expressing strong interest in partnering with local authorities to co-develop a smart city and establish a strategic gateway to the broader regional market.
The remarks on Wednesday followed the opening of LEAP East 2026, the inaugural Hong Kong edition of the global tech event, where Financial Secretary Paul Chan Mo-po highlighted deepening ties between the two regions. Chan said he would lead a business delegation to Saudi Arabia later this year.
The three-day technology conference in Wan Chai has already drawn about 35,000 participants from more than 30 countries and territories to Hong Kong.
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"This is my first time in Asia and the start is in Hong Kong," said Majid Saad Al-Arifi, executive vice-president of marketing at Elm, in an interview with the South China Morning Post.
He added that the visit was the firm's first step towards entering the Asian market.
Elm is backed by Saudi Arabia's sovereign Public Investment Fund and serves as the digital solutions provider for governments and businesses.
Al-Arifi noted that while company executives had only brief discussions with Hong Kong officials during the exhibition, the firm had a strong "appetite" for exploring how to engage with the Northern Metropolis project.
"This is at a very early stage; it is our first step," he said.
"It is our first day exploring the market, showcasing what we can deliver, and demonstrating how we can help the government meet its expectations."
First announced in 2021, the Northern Metropolis is the government’s strategic development project to transform 30,000 hectares (74,130 acres) of land near the border with mainland China into an economic and residential hub. The government is courting tech firms to establish a presence in the area.
He added that the company would evaluate the trip's outcomes before planning future visits, expressing a strong interest in taking part in more local platforms and exhibitions moving forward.
The kingdom's high-level participation in the forum underscored deepening trade ties between the two sides, driven largely by the country's ambitious Saudi Vision 2030 initiative.
Launched in 2016, the blueprint aims to pivot the country away from its historical oil dependence by injecting 27 trillion riyals (US$7.2 trillion) into public spending and dozens of infrastructural programmes over a decade.
The plan also seeks to increase the country's competitiveness and attract more foreign investment, including in sectors such as tourism and green energy.
The scheme, which includes hosting the football World Cup in 2034, is expected to draw tourists alongside major businesses from overseas, including Hong Kong and the mainland.
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Autor(en)/Author(s): Vivian Au
Dieser Artikel ist neu veröffentlicht von / This article is republished from: South China Morning Post, 09.07.2026
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