Mekdam Holding Group, the first Qatari technology group listed on the Qatar Stock Exchange, is investing in quantum computing after a year of substantial growth with a €161 million turnover, an increase of over 20 percent. The company has signed a Memorandum of Understanding with European leader in photonic quantum computing, Quandela, to deploy solutions across Gulf markets and establish a regional quantum ecosystem. Mekdam currently holds an order book valued at 3.1 billion Qatari riyals (734 million euros), demonstrating existing demand for its technology portfolio before this expansion. “This partnership marks Mekdam’s entry into quantum computing and our desire to be a leading player in the region,” said Bara’ Sami, General Group Manager of Mekdam Holding Group, as both companies aim to serve sectors including energy, healthcare, and critical infrastructure.
Mekdam Holding Group’s turnover of 681.1 million Qatari riyals (approximately 161 million euros) demonstrates the financial capacity driving its expansion into quantum computing, representing a greater than 20% increase and signaling a commitment to emerging technologies. This investment builds on Mekdam’s existing order book valued at 3.1 billion riyals (734 million euros). The collaboration, formalized through a Memorandum of Understanding signed during the Vision Gulf forum, aims to deploy quantum computing solutions tailored to regional priorities including energy, government, and healthcare. Quandela will contribute its expertise in fault-tolerant quantum computing and quantum machine learning, while Mekdam will focus on identifying and developing high-value use cases within the Gulf states.
Beyond immediate applications, the partnership envisions a sustainable regional quantum ecosystem encompassing cloud access to Quandela’s photonic quantum computers, localized skills development, and the establishment of a dedicated quantum center of excellence serving the Gulf Cooperation Council countries. This initiative aligns with broader national strategies for digital sovereignty and artificial intelligence across the Gulf, including Qatar National Vision, Saudi Vision, and the UAE National Quantum Strategy. Xavier Pereira, Chief Growth Officer of Quandela, stated, “Based in Doha and a leading technological player in the Middle East, Mekdam allows us to accelerate in a dynamic, innovative and essential region for the future of IT quantum.”
Mekdam Holding Group’s financial performance supports its expansion into quantum computing; the company reported a turnover of 681.1 million Qatari riyals (approximately 161 million euros), up more than 20%. The collaboration extends beyond immediate commercial applications, with both companies planning to cultivate a comprehensive regional quantum ecosystem, positioning both organizations to foster innovation and economic growth within the Gulf.
Source: https://www.quandela.com/
