stc group has announced strong interim financial results for the six-month period ended 30 June 2026, reporting record revenue of SAR 40.1 billion, supported by continued growth across its core telecommunications business, digital services and strategic investments.

The group’s financial performance reflected steady operational momentum, with revenue reaching SAR40,110m, marking a 3.8 per cent increase compared with the same period last year. Gross profit rose 5.3 per cent to SAR19,637m, while operating profit increased 7.8 per cent to SAR7,771m.

Earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) reached SAR12,968m during the first half of 2026, representing growth of 5.5 per cent compared with the corresponding period last year.

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The company also reported a 6.3 per cent increase in net profit after excluding non-recurring items, highlighting continued financial strength and operational efficiency. In addition, stc announced the distribution of SAR0.55 per share for the second quarter of 2026, in line with the dividend distribution policy approved by the General Assembly, resulting in a total payout of SAR2.7bn to shareholders.

CEO highlights strategic progress and financial resilience

Commenting on the results, stc group CEO Engineer Olayan bin Mohammed Alwetaid said the first-half performance reflected the group’s strong financial and operational position, alongside continued progress in executing its strategic priorities.

He noted that the results demonstrated the strength of stc’s business model, the resilience of its operations and its ability to deliver sustainable value for shareholders while advancing its long-term strategy.

“The group delivered strong financial performance during the first half of 2026, with net profit increasing by 6.3 per cent after excluding non-recurring items in both the current and corresponding periods of the previous year,” Alwetaid said.

He added that revenue growth of 3.8 per cent contributed to a 5.5 per cent rise in EBITDA, while stc’s second-quarter net profit exceeded the average expectations of financial analysts by 4 per cent.

Subscriber growth and network expansion continue

Alwetaid highlighted the group’s continued operational improvements, driven by subscriber growth and investments in digital infrastructure.

The number of stc mobile customers in Saudi Arabia reached 30.3 million, representing a 4.8 per cent increase compared with the same period last year. Fixed-line customers also grew by 3 per cent, reaching 6.1 million.

The company continued expanding its next-generation network capabilities, with the number of 5G towers increasing to 12.12K. Meanwhile, households connected to the fibre-optic network grew by 5.2 per cent to reach 3.87 million.

According to stc, these developments reflect rising demand for advanced connectivity services and the group’s ongoing commitment to strengthening the Kingdom’s digital infrastructure.

Supporting digital services during Hajj season

During the Hajj season, stc continued its role as a digital enabler by providing pilgrims with an integrated ecosystem of connectivity services and artificial intelligence-powered digital solutions.

The group’s advanced infrastructure supported record levels of data traffic while maintaining network readiness and ensuring uninterrupted digital services across the Holy Sites.

The company said its investments in technology and connectivity played a key role in supporting the digital needs of millions of visitors during the religious season.

New partnerships strengthen digital infrastructure

As part of its strategic expansion, stc group signed an agreement with ROSHN Group to develop neutral fibre-optic network infrastructure for upcoming phases of the SEDRA community in Riyadh.

Under the agreement, stc will build and deploy a fibre-optic network that allows multiple telecommunications service providers to deliver services through shared infrastructure. The initiative is expected to improve operational efficiency and support the kingdom’s growing residential developments.

The group also continued progress on its memorandum of understanding with HUMAIN to establish a joint venture through center3, one of stc group’s subsidiaries.

The extension of the memorandum allows both parties to complete regulatory and operational requirements while advancing negotiations toward finalizing the joint venture agreement.

Additionally, stc continued strengthening its partnership with AST & Science, LLC (AST SpaceMobile), which aims to provide satellite communication services through direct-to-device connectivity technology.

STC Bank and digital businesses drive growth

stc group continued executing its strategy for STC Bank, with the digital banking platform recording sustained growth through an expanding customer base, increased deposits and investment portfolio growth.

The bank’s performance contributed to revenue growth and improved profitability while continuing to provide integrated digital banking solutions and enhanced customer experiences.

The group also expanded its broader digital strategy, creating new opportunities across its business segments. A key milestone was the launch of stc cloud, powered by Oracle Alloy, which was introduced as the Kingdom’s first sovereign cloud solution.

The platform combines advanced global technology with local operations and governance while maintaining compliance with Saudi Arabia’s regulatory requirements.

stc said the launch supports national digital transformation efforts by strengthening data sovereignty and providing advanced cloud capabilities for businesses and government entities.

Sustainability and local content efforts continue

stc group further reinforced its sustainability commitments through the release of its seventh annual Sustainability Report for 2025.

The report highlighted progress in environmental initiatives, human capital development, governance and responsible business practices. The group also achieved an AA rating in the 2025 MSCI ESG assessment.

The company continued supporting local content development through the Rawafed program, ranking first in the Local Content Award for Large Enterprises for the third consecutive year.

The award, organised by the Local Content and Government Procurement Authority, recognized stc’s contribution to national economic development. The group achieved a local content ratio of 50.69 per cent.

stc group maintained its strong financial standing, with its credit ratings reaffirmed by leading international agencies.

The group retained an “A+ with a stable outlook” rating from Standard & Poor’s (S&P) and Fitch Ratings, an “Aa3 with a stable outlook” rating from Moody’s, and an “AAA with a stable outlook” rating from Tassnief.

The ratings reflect stc’s strong market position, financial stability and leadership role in the telecommunications sector.

Expo City Dubai said new business registrations rose more than 25 per cent in the first half of 2026 compared with the same period last year, as companies from healthcare, fintech, education and creative industries joined its commercial community.

More than 80 per cent of Expo City Dubai’s commercial space is now leased, the development said in a statement.

New tenants include LEO Pharma, a global medical dermatology company that established its Middle East headquarters at Expo City Dubai, and UAE-based fintech firm Alaan, which provides AI-powered financial automation tools for businesses.

Other companies that joined the business district in the first half of the year include materials provider SWM International, represented locally by Luban Global; early childhood education provider British Orchard Nursery; music education and production hub SOPM; interior design and fit-out company DomDom Technical Services; and creative agency BOND.

Expo City Dubai said its tenant base has also expanded through its Expo Green Licence initiative, which supports companies focused on sustainability and circular economy solutions. New companies under the initiative include atmospheric water harvesting firm Airjoule, circular economy company Polygreen and electronics recycling and refurbishment company WAT (We Are Tech).

“Expo City Dubai’s appeal for those seeking a future-ready destination continues to grow,” Charles Swanson, vice president, commercial at Expo City Dubai, said.

He added that the development’s focus would remain on attracting businesses working on circular economy solutions and sustainable growth as part of its role as the UAE’s first Green Innovation District.

LEO Pharma UAE GM Ahmed Safwat said establishing the company’s regional hub at Expo City Dubai would support its expansion plans and collaboration opportunities.

“Expo City Dubai is more than a business hub, it is a community built around innovation, collaboration and a shared ambition to create positive impact,” Safwat said.

Alaan’s head of Growth and Marketing Pankaj Suresh said the move would allow the company to collaborate with other businesses while continuing to develop AI-based financial solutions.

Expo City Dubai, the legacy development of Expo 2020 Dubai, is located along the logistics corridor connecting Al Maktoum International Airport and Jebel Ali Port, with access to the Dubai Exhibition Centre and Dubai Metro network.

The development is one of five hubs identified under the Dubai 2040 Urban Master Plan and forms part of the emirate’s Economic Agenda D33.

Expo City Dubai was recognised as a “rising star” free zone for 2025 by fDi Intelligence, the statement said.

Tahaluf has announced the launch of Cityscape West KSA, a new real estate exhibition and investment platform sponsored by the Ministry of Municipalities and Housing (MOMAH), as Saudi Arabia continues to advance its Vision 2030 ambitions and strengthen the Kingdom’s rapidly growing property sector.

Building on the success of Cityscape Global, the new event will provide a dedicated platform for Saudi Arabia’s Western Region, connecting developers, investors, government stakeholders and homebuyers while supporting investment, partnerships and increased homeownership across Jeddah, Makkah and Madinah.

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Cityscape West KSA will take place from March 29-31, 2027, at the Jeddah Superdome, bringing together leading developers, financial institutions, policymakers, property investors and prospective homeowners to explore new projects, establish strategic partnerships and access residential opportunities across one of Saudi Arabia’s fastest-growing real estate markets.

Western region continues to gain momentum

The launch comes as Saudi Arabia’s western region experiences significant momentum in the residential property market.

According to Knight Frank’s Saudi Arabia Residential Market – Summer 2025 report, Jeddah recorded a 28 per cent increase in residential transaction values to SAR17.3bn during the first half of 2025. Madinah also emerged as the Kingdom’s strongest-performing residential market, with transaction values climbing 49 per cent year on year.

A series of landmark developments continue to reinforce the region’s attractiveness for investment, tourism and mixed-use development. These include NHC Al Jana, Al Mukiman, Al Ghoroub and Makkah Gate, ROSHN Group Al Arous and Marafy, Thakheer, Shams Al Arous, Obhur City, Massar-Makkah, Jeddah Economic City, Jabal Omar, Jeddah Historic District, Royal Commission for Al Ula, Rua Al Madinah, Ru Al Haram, Red Sea Global, Knowledge Economic City, King Abdullah Economic City, Jeddah Central, The Monolith (Project W) and Qiddiyah Coast Economic City.

Building on Cityscape Global’s success

Cityscape West KSA follows the rapid growth of Cityscape Global, which has established itself as a key platform for real estate investment, development and collaboration since launching in Riyadh in 2023.

Last year’s edition attracted more than 164,000 visits, featured 577 exhibitors and brands, facilitated $63bn in strategic deals and transactions on-site, and brought together investors representing $6.1tn in real estate and infrastructure assets under management.

Rachel Sturgess, executive VP of Tahaluf, said the expansion reflects the continued evolution of Saudi Arabia’s real estate sector.

“Over the past three years, Cityscape Global has become a leading platform for real estate investment, collaboration and industry dialogue, bringing together developers, investors, policymakers and homebuyers to support Saudi Arabia’s real estate ambitions. As the market continues to evolve under Vision 2030, Cityscape West KSA extends that platform into the Western Region, creating new opportunities for investment, partnership and homeownership while supporting the next phase of growth across Jeddah, Makkah and Madinah.”

As Saudi Arabia continues to transform its property landscape under Vision 2030, Cityscape West KSA is expected to serve as the western region’s flagship platform for investment, collaboration and homeownership, helping connect projects, capital and industry leaders while supporting the next phase of real estate growth across the kingdom.

Aster Clinics UAE, the largest private primary care network under the Aster DM Healthcare GCC group, is accelerating its long-term growth strategy in the country with plans to expand its footprint to more than 100 facilities by 2030.

The expansion will see Aster Clinics UAE grow from its current network of 85 facilities through a combination of new clinic launches and expansions of existing centres. The initiative is supported by an investment commitment of Dhs100m and is expected to increase the organisation’s workforce strength to 4,100 employees across the UAE.

The planned expansion will introduce new specialty centres, enhance in-clinic diagnostic capabilities, and accelerate the integration of digital healthcare solutions through myAster. The network will also expand homecare and personalised healthcare services as part of its broader strategy to deliver accessible, patient-focused care across the Emirates.

Rising demand drives expansion strategy

The growth plan comes amid increasing demand for primary healthcare services in the UAE, with annual patient footfall across Aster Clinics’ network rising by 15 per cent over the past year.

The UAE outpatient segment accounts for more than 70 per cent of total healthcare interactions, highlighting the growing importance of primary care networks in providing first-contact, preventive and continuous healthcare services.

Aster Clinics is responding to this shift by strengthening its integrated care model and expanding its presence closer to residential communities. The company’s strategy focuses on improving healthcare accessibility while supporting the UAE’s broader vision for preventive and digitally enabled healthcare delivery.

Expanding specialty care capabilities

Alongside geographic expansion, Aster Clinics is increasing its clinical capabilities through targeted specialty-led models designed to provide comprehensive care under one ecosystem.

The organisation is scaling its diabetes care services through its “clinic within clinics” model, enabling patients to access integrated chronic disease management across its network. It is also expanding its Orthopaedics and Physiotherapy services to provide comprehensive treatment options for bone and joint-related conditions under one platform.

Aster Clinics UAE currently operates 85 clinics across the emirates, supported by 13 Access Clinics. The group also operates two clinics in Bahrain, contributing to one of the region’s most extensive primary healthcare platforms. Across the GCC, Aster’s clinic network exceeds 100 facilities, reinforcing its regional healthcare presence and ability to provide continuity of care across diverse communities.

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Speaking on the company’s outlook, Alisha Moopen, MD and group CEO, Aster DM Healthcare, said: “The UAE continues to be a cornerstone market for Aster’s long-term strategy. Our confidence in this market is rooted in its strong fundamentals, progressive healthcare ecosystem, and clear national vision for integrated care delivery. Our approach remains focused on building a sustainable, scalable healthcare model that combines clinical excellence, digital innovation, and community-centric care.”

Strategic expansion across emerging communities

Aster’s next phase of growth is being supported by a structured expansion strategy focused on increasing geographic reach while deepening clinical expertise.

The recent launch of Aster Clinic Jaddaf has strengthened healthcare access in a rapidly developing residential hub. Meanwhile, specialised centres such as the Aster Diabetes 360 Care Clinic and Aster Children’s Clinic in Dubai Silicon Oasis reflect the organisation’s focus on lifecycle-based healthcare and family-oriented services.

The company is also enhancing capacity across its existing network, including the expansion of the Aster Orthopaedic Clinic in Qusais and strengthened women’s health services at Aster Clinic Gardens, supported by expanded radiology capabilities.

Dr Sherbaz Bichu, CEO of Aster Hospitals & Clinics (UAE, Bahrain and Oman), said: “We are humbled by the trust our communities continue to place in Aster Clinics, and this expansion is our way of honouring that trust with even greater compassion. Healthcare should never be a privilege, it is a right that belongs to every individual, regardless of background or means. As we grow, our commitment remains rooted in bringing quality care closer to the people who need it most, ensuring it is not just accessible, but genuinely affordable across every stratum of society. This expansion reflects our promise to treat every patient well, and reaffirms our shared responsibility, alongside the nation’s vision, to build a healthcare ecosystem where no community is left behind.”

Digital healthcare and personalised services remain key priorities

Aster Clinics is also strengthening its technology-driven healthcare ecosystem through digital platforms and home-based services.

Its myAster platform enables teleconsultations and supports continuity of care throughout patient journeys. Meanwhile, Aster @Home extends consultations, diagnostics and nursing services directly to patients’ homes, hotels and workplaces, improving convenience and accessibility.

The organisation is also expanding its wellness portfolio with services such as IV therapies and plans to introduce peptide-based treatments as part of its broader focus on preventive and personalised healthcare.

Programmes including Care for Her, a personalised women’s health and wellness initiative, and Age Well with Aster, a senior care programme, reflect the rising demand for specialised healthcare solutions tailored to different stages of life.

Future growth focused on accessibility and innovation

Looking ahead, Aster Clinics UAE plans to continue investing in capacity expansion, express clinics in high-density locations and diagnostic capabilities through the development of Neubridge Diagnostics.

The network’s phased expansion strategy will focus on high-growth residential corridors and emerging communities across the Emirates, aligning with population growth trends and increasing demand for neighbourhood-based healthcare models.

The rise of “10–15 minute access” healthcare concepts is reshaping primary care delivery in the UAE, with patients increasingly seeking convenient healthcare facilities located closer to their homes and workplaces.

Manish Jain, deputy chief executive officer – Aster & Access Clinics UAE and Bahrain, added: “Our growth approach is structured and community-driven. Alongside expanding into new locations, we are equally focused on strengthening capabilities within our existing network. This ensures that every phase of growth enhances both accessibility and clinical value for our patients.”

Aster Clinics’ continued expansion reflects the wider transformation of healthcare delivery in the UAE, where decentralised, preventive and integrated care models are gaining momentum. With a growing network, investment pipeline and focus on digital innovation, Aster Clinics UAE is positioned to play a significant role in shaping the future of primary healthcare delivery in the country.

Emirates is accelerating its digital transformation strategy with two major customer-focused initiatives that expand payment flexibility and enhance travel rewards, reinforcing its commitment to innovation and seamless travel experiences.

The Dubai-based carrier has officially launched Crypto.com Pay on its digital platforms, enabling eligible customers in the UAE to pay for flight bookings using cryptocurrency through the secure payment solution. At the same time, Emirates Skywards has broadened its loyalty ecosystem by introducing Skywards Rail, giving members access to more than 12,000 rail destinations across Europe using their Skywards Miles.

Together, the announcements highlight Emirates’ continued investment in digital technologies and integrated travel solutions, aligning with Dubai’s broader ambitions to become a global leader in fintech, digital payments and smart mobility.

Customers with a Crypto.com account booking flights on emirates.com or through the Emirates App can now select Crypto.com Pay during checkout. Transactions are processed securely and in compliance with UAE regulatory standards. According to an Emirates Media report, the payment option is currently available to eligible UAE residents for bookings priced and settled in Emirati Dirhams (Dhs).

The launch represents the successful implementation of the partnership between Emirates and Crypto.com, first announced in July 2025 when the two companies signed a Memorandum of Understanding to explore integrating Crypto.com Pay into the airline’s digital payment infrastructure.

Digital payments move from concept to reality

The rollout underscores Emirates’ focus on offering customers greater flexibility while responding to changing consumer preferences, particularly among digitally connected travelers.

“Bringing this initiative to life delivers on our commitment to expanding customer choice in how they pay for travel. It also reflects the rapidly evolving preferences of a younger, digitally fluent generation who manage their money and plan their journeys primarily from their phones and they expect the airlines they fly with to keep pace,” said Adnan Kazim, Emirates’ deputy president and chief commercial officer.

“Moving from signature to launch with Crypto.com in a year is a credit to both teams, and to a regulatory environment that makes this kind of innovation possible, reflecting the UAE’s and Dubai’s ambition to lead in fintech and the digital economy,” he added.

Eric Anziani, president and chief operating officer of Crypto.com, said the partnership represents a significant milestone for the company’s payment platform.

“Partnering with Emirates is a milestone for Crypto.com and our Pay feature, which is renowned for its ease of use and seamless integration,” Anziani said.

“This collaboration is a testament to the UAE’s forward thinking approach to innovation and we’re proud to support Emirates as it embraces the digital payments space.”

The integration is powered by Crypto.com’s Dubai entity, the first Virtual Asset Service Provider (VASP) to receive a Stored Value Facilities (SVF) licence from the Central Bank of the UAE. The service operates within the country’s regulated Stored Value Facilities framework, providing customers with a secure payment environment.

Seamless checkout experience

Customers using the Emirates App can select Crypto.com Pay at checkout and will be redirected to the Crypto.com app to authorise payment from their digital wallet before returning to the Emirates App to receive their booking confirmation and e-ticket.

Desktop users booking through emirates.com can choose Crypto.com Pay during the payment stage, scan the QR code displayed on the booking page and approve the transaction through the Crypto.com app. Once payment is confirmed, customers receive their booking confirmation and e-ticket instantly.

The initiative also supports the Dubai Cashless Strategy under the D33 Economic Agenda, which aims to make 90% of all financial transactions across both government and private sectors digital by the end of 2026. It further builds on Emirates’ partnership with Dubai Finance to advance digital payment capabilities and complements Crypto.com’s collaboration with Dubai Finance to facilitate digital payments for government services.

Emirates Skywards expands beyond air travel

Alongside its digital payments initiative, Emirates is also strengthening its award-winning loyalty programme by extending travel opportunities beyond flights.

Emirates Skywards has launched Skywards Rail, a new platform that allows members to redeem Skywards Miles for rail journeys across Europe. The service provides access to more than 12,000 destinations through over 40 rail operators spanning 12 European countries.

Accessible through the dedicated booking platform www.skywardsrail.com, members can search train schedules, compare cabin classes and ticket options, and complete bookings online or via mobile devices in five languages.

Customers can redeem their Miles for the full cost of a rail ticket or combine Cash + Miles for greater flexibility. The platform also enables members to book rail travel for family and friends, with electronic tickets delivered directly via email.

Dr Nejib Ben Khedher, divisional senior vice president of Emirates Skywards, said the launch reflects the airline’s ongoing efforts to increase the value and versatility of its loyalty programme.

“Our members are looking for more flexible ways to use their Skywards Miles, and Skywards Rail is another step in expanding the programme beyond air travel,” he said.

“By unlocking affordable access to more than 12,000 rail destinations across Europe, we’re giving members the freedom to create seamless journeys using Miles, whether that’s travelling between major cities, connecting onwards from an Emirates or flydubai flight, or discovering somewhere new. It’s all part of our commitment to offering more choice, greater value and rewarding travel experiences at every stage of the journey.”

Wider travel choices for loyalty members

The new rail platform provides access to a broad network of domestic, international and high-speed rail services operated by some of Europe’s best-known rail companies, including Eurostar, Deutsche Bahn, SNCF, Trenitalia, TGV, Renfe and ÖBB. It also includes major UK operators such as Heathrow Express, Gatwick Express, Thameslink, Great Western Railway and ScotRail.

Members can redeem Skywards Miles on a range of popular routes, including Heathrow Express journeys from 4,700 Skywards Miles, Berlin to Frankfurt from 4,100 Miles, Barcelona to Madrid from 5,400 Miles, Rome to Milan from 8,100 Miles and London to Paris from 9,400 Miles.

The expansion reflects Emirates Skywards’ broader evolution into a lifestyle-focused loyalty programme, providing members with greater flexibility to use their rewards beyond traditional flight redemptions while supporting more integrated travel experiences across Europe.

Since its launch in 2000, Emirates Skywards has grown into one of the world’s leading airline loyalty programmes. Celebrating its 25th anniversary this year, the programme now serves more than 39 million members across 190 countries and continues to expand rapidly, with more than 78,000 new members joining every week.

As Emirates continues investing in digital innovation and expanding its customer ecosystem, the latest initiatives reinforce the airline’s strategy of combining advanced payment technologies with broader travel rewards to deliver greater convenience, flexibility and value for travelers worldwide.