Aziz is a prominent name in the telecommunications and information technology sector in the Kingdom of Saudi Arabia, playing a pivotal role in developing digital infrastructure in collaboration with government entities and the private sector. Although Aziz is not listed on the Saudi Stock Exchange (Tadawul), its impact is significant due to its major projects and partnerships with leading companies like STC, as well as its involvement in strategic initiatives under the Kingdom's Vision 2030. In this article, we provide a comprehensive analysis of Aziz, covering its inception, evolution, and key financial and technical achievements in 2024 and 2025, along with an analysis of its position in the telecommunications sector, competitors, and the latest news. We also highlight frequently asked questions about the company and provide answers based on the latest available data. This material aims to provide readers with an in-depth understanding of Aziz and its impact on the Saudi tech landscape, emphasizing the importance of consulting financial specialists before making any investment or partnership decisions in this sector.
Definition of Aziz Company and Its Position in the Saudi Financial Market
Aziz Technology and Telecommunications Company was established in the early 2000s in Riyadh, aiming to contribute to building an advanced telecommunications infrastructure in the Kingdom and the Gulf Cooperation Council countries. Since its inception, it has played a pivotal role in developing wireless and wired telecommunications networks, as well as its specialized services in IT solutions and digital systems.
Aziz is not a publicly traded company on the Saudi Stock Exchange (Tadawul), but operates as a private company under the umbrella of CITIC Telecommunication International, listed on the Hong Kong Stock Exchange. This status makes it unavailable for direct investment in the Saudi market; however, it remains one of the leading companies executing national telecommunications projects, attracting the attention of analysts and investors due to the scale of its operations and its indirect impact on the sector.
Aziz has participated in implementing major strategic projects, such as developing 3G and 4G networks, and later expanded into cloud computing and the Internet of Things, earning it the status of a key partner for government entities and smart city projects. Despite not trading its shares in the Saudi market, Aziz is considered one of the influential brands in the local and regional tech market.
Financial and Operational Data of Aziz 2024-2025
Aziz does not publish independent financial data, as its results fall under the reports of its parent company, CITIC Telecommunication International. Reports for 2023-2024 indicate that CITIC's revenues exceeded $7.5 billion, with operational growth of approximately 8% compared to the previous year. Aziz's contribution to these revenues is estimated to be in the tens or hundreds of millions annually, thanks to its major contracts in Saudi Arabia and the Gulf.
The operating ratio of fixed assets in Gulf projects was about 75%, amid increasing demand for 5G networks and fiber optics. At the beginning of 2024, Aziz signed contracts to develop fiber optic networks in Riyadh and Jeddah worth over 100 million Saudi Riyals, and participated in a smart infrastructure project in NEOM. The parent company announced an additional investment of $50 million to develop Aziz's cloud computing and Internet of Things services.
As for profits, CITIC's EBITDA increased by 12% in 2023, reflecting improved profit margins and growth in Aziz's contribution to the group's results. Although there is a lack of detailed data on Aziz's net profits, estimates indicate a stable and increasing contribution to the parent group's results, supported by sustainable growth in the Saudi market.
Aziz's Position in the Stock Market and Its Financial Valuation
Aziz is not listed on the Saudi financial market (Tadawul), and thus does not have a trading symbol or direct market value in the Kingdom. Analysts can refer to the performance of the parent company, CITIC Telecomm (listed on the Hong Kong Stock Exchange under the symbol 1883.HK), to estimate Aziz's indirect market value. CITIC's market capitalization is around $5 to $6 billion by the end of 2024, with a price-to-earnings (P/E) ratio ranging between 12 and 15, which is a balanced level for Asian tech companies.
There are no direct dividends associated with Aziz, as CITIC's policy focuses on reinvesting profits for expansion and growth. Any potential gains are directly linked to the increase in the parent company's value and the acquisition of new contracts in the Saudi and Gulf markets. For investors, Aziz represents an indirect window into the Saudi telecommunications sector through CITIC, without the possibility of direct trading of "Aziz" shares in the Saudi market.
Analysis of the Saudi Telecommunications Sector and Aziz's Role
The Saudi telecommunications and technology sector is experiencing rapid growth driven by the Kingdom's Vision 2030, with the market expected to exceed $55 billion by 2025. The government is focusing on developing modern telecommunications networks (5G, fiber optics, Internet of Things) and expanding digital infrastructure in urban and remote areas.
Aziz focuses on implementing infrastructure projects and is an effective partner in government digital transformation. Aziz competes with major local and global companies such as Huawei, Ericsson, Nokia, and specialized Saudi companies. Aziz benefits from government support trends for local content and policies that encourage research and development within the Kingdom.
The company is distinguished by its ability to execute customized projects that meet the needs of Saudi entities, whether in smart cities, energy networks, or cybersecurity solutions. Amid fierce competition, Aziz stands out due to its partnership with CITIC and local expertise, giving it a competitive advantage in national infrastructure projects.
Aziz's Main Competitors in the Saudi and Regional Market
Aziz competes with major telecommunications companies in Saudi Arabia such as STC, Zain, and Mobily, in addition to tech contracting companies like Huawei, Ericsson, and Nokia, which implement massive infrastructure projects. On a regional and international level, it faces competition from global companies like ZTE, Nokia, and Ericsson, which have vast resources and advanced technologies.
Aziz has the advantage of understanding the Saudi market and aligning with local requirements, making it a preferred choice for government entities in sensitive telecommunications projects. It also benefits from its partnerships with CITIC to provide advanced technologies and offer integrated solutions in smart cities and the Internet of Things.
In recent years, projects like NEOM and digital villages have enhanced Aziz's role, allowing it to balance competition with international companies while providing customized solutions that meet the needs of the Saudi and Gulf markets. This competitive environment drives the company to continuously develop its technical capabilities, focusing on innovation and commitment to cybersecurity standards.
Latest News and Developments of Aziz 2024-2025
Recently, Aziz has seen several significant developments, including signing a strategic partnership with the NEOM project to develop experimental sixth-generation (6G) networks, positioning it as a key player in the infrastructure of new smart city projects in the Kingdom. It has also launched cooperation programs with the Saudi government to improve connectivity in remote areas, providing satellite internet solutions in collaboration with the Saudi Space Agency.
Financially, reports for the fourth quarter of 2024 showed a 15% increase in CITIC Telecomm's revenues compared to the previous year, attributing a significant portion of this growth to Aziz's new projects in Saudi Arabia. On the other hand, the company faced challenges related to the postponement of some government projects, such as the water management network project, reflecting the nature of risks associated with large projects.
Regionally, Aziz participated in CITIC Telecomm's expansion into Bahrain through system integration and providing technical expertise, enhancing its position as a regional player in the Gulf telecommunications sector.
Main Products and Services of Aziz
Aziz offers a wide range of technical services and solutions, including:
- Building and operating wired and wireless telecommunications networks (stations, towers, and fiber optics)
- Providing network management solutions, performance monitoring, and quality assurance
- Data center and information security services, focusing on cybersecurity data protection
- Satellite communication solutions for remote areas
- Smart city and Internet of Things projects, integrating smart systems to serve government entities and major companies
Aziz works closely with its clients to customize solutions according to local needs and benefits from the technical support of CITIC Telecomm in developing cloud computing and artificial intelligence services, making it a preferred choice for large national projects.
Business Model and Administrative Structure of Aziz
Aziz follows a Saudi-Chinese administrative structure, managed by Saudi personnel with the support of CITIC Telecomm experts. The company relies on a business model focused on implementing specialized projects in digital infrastructure and integrating local technical solutions with global support.
Operationally, Aziz depends on multidisciplinary teams to execute major projects, emphasizing quality management, operational efficiency, and compliance with local and international standards. The company also shows flexibility in geographic expansion, contributing to projects outside Saudi Arabia, particularly in Gulf countries.
The administrative structure ensures the utilization of CITIC's experiences in Asia and the application of best practices in the Saudi market while maintaining the local character that distinguishes Aziz's services in Gulf markets.
Key Clients of Aziz and Strategic Partnerships
Aziz serves a wide client base that includes government entities, major telecommunications companies, and energy and industrial companies. Its prominent clients include:
- Ministry of Communications and Information Technology
- Municipalities and government entities in Riyadh and Jeddah
- National telecommunications companies (STC, Mobily) and their digital projects in NEOM
- Energy companies like Aramco and SABIC
- Private institutions in the Gulf, especially after CITIC's regional expansion
The company relies on building long-term strategic partnerships, focusing on digital infrastructure projects and smart cities, which enhances the sustainability of its operations and provides opportunities to benefit from the growth of the Saudi tech market.
Regulatory and Legislative Environment of the Saudi Telecommunications Sector
The Saudi telecommunications sector is overseen by government bodies that impose strict standards on quality, cybersecurity, and privacy protection. In 2024, new legislation was issued to encourage companies to invest in research and development and promote the localization of technical content.
Aziz benefits from this supportive environment, as it adheres to applying best practices and international standards in collaboration with CITIC Telecomm. The company also keeps pace with regulatory changes related to governance and adapts to digital security requirements, enhancing its ability to compete in major government projects and giving it an advantage in securing digital infrastructure contracts.
Risks and Challenges Facing Aziz in the Telecommunications Sector
Despite the enormous opportunities in the Saudi market, Aziz faces multiple challenges, including:
- Fluctuating government project priorities, which may lead to delays or restructuring of contracts
- Fierce competition from global and local companies with substantial resources
- The ongoing need for investment in modern technologies to keep pace with rapid developments (5G, artificial intelligence, cybersecurity)
- Risks associated with changes in the regulatory environment and new legislation
To address these challenges, Aziz relies on developing its workforce, investing in research and development, and enhancing its strategic partnerships, focusing on operational sustainability and improving profit margins.
Aziz's Future Plans and Technological Trends
In the coming years, Aziz aims to expand into fifth and sixth-generation technologies, as well as develop cloud computing and Internet of Things solutions. Among its plans are:
- Investment in edge computing to support smart networks
- Expanding its services in the largest Gulf cities
- Strengthening partnerships with the private sector to deploy smart device networks
- Attracting Saudi talents and developing products based on artificial intelligence
These plans align with the Kingdom's Vision 2030, as the company seeks to lead in providing integrated technical solutions that support national and regional digital transformation.
Conclusion
Aziz Company exemplifies Saudi companies that keep pace with the development of the telecommunications and technology sector, playing a vital role in national digital infrastructure projects. Despite not being listed on the Saudi Stock Exchange, its impact extends through strategic partnerships and major government projects, supported by the global expertise of CITIC Telecomm. The financial and operational performance of the parent company reflects Aziz's strong position in the market, with expectations of continued growth amid the flourishing tech sector and the Kingdom's Vision 2030.
It remains important to note that making any investment or partnership decision in the telecommunications sector requires detailed study and consultation with a licensed financial advisor. The SIGMIX platform provides educational and analytical content that enhances investor awareness and always encourages reliance on certified specialists to ensure informed financial decisions based on the latest market developments.
Frequently Asked Questions
Aziz is a Saudi company specializing in telecommunications and information technology solutions. It was established in 1998 in Jeddah and gained prominence through its partnership with Saudi Telecom Company (STC) to develop cellular networks (3G-4G). It later expanded into digital networks, cybersecurity, and smart city solutions. Since 2012, it has been under the umbrella of CITIC Telecommunication International from China.
No, Aziz is not listed on the Saudi Stock Exchange (Tadawul). It operates as a private company under the CITIC Telecomm group listed on the Hong Kong Stock Exchange. There is no trading symbol for it in the Saudi market, and its shares cannot be purchased directly through Tadawul.
CITIC Telecommunication International from China owns approximately 80% of Aziz. The remaining percentage is owned by Saudi institutions and individuals. The majority of the company is currently managed through the Saudi-Chinese partnership, focusing on transferring technology and international expertise to the local market.
Aziz provides integrated services for telecommunications network infrastructure, network management, data center and cybersecurity solutions, and satellite communication services. It also participates in smart city projects, develops Internet of Things solutions, and customizes technical systems for government and private entities.
The company does not publish independent financial data, but reports from CITIC Telecomm have shown significant improvements in revenues and profits during 2023-2024, thanks to new contracts in Saudi Arabia and the Gulf. Revenues increased by 15% in the last quarter of 2024, partly attributed to Aziz's projects.
Aziz's primary clients include Saudi government entities, national telecommunications companies such as STC and Mobily, major energy and industrial companies like Aramco and SABIC, as well as Gulf institutions following CITIC's regional expansion. The company focuses on digital infrastructure and smart city projects.
Aziz faces challenges such as changing government project priorities, intense competition from global and local companies, the ongoing need for investment in modern technologies, and adapting to the changing regulatory environment. It relies on workforce development and partnerships to address these challenges.
Aziz plans to expand into fifth and sixth-generation technologies, develop cloud computing, and the Internet of Things. It focuses on smart city projects, investing in edge computing, and expanding services in Gulf countries, while enhancing local talents and developing AI-based products.
You can follow Aziz's news through the official website of CITIC Telecomm, Saudi economic press, specialized Gulf magazines in information technology, and global financial market reports. These sources provide the latest developments and projects related to the company.
Yes, between 2010-2015, Aziz faced administrative and financial challenges that led to restructuring under CITIC Telecomm's supervision. These transformations improved management and stabilized the company, which now focuses on growth and sustainability with the support of its parent company.