Category: News and Press Releases

MEEZA QSTP-LLC (Public) (“MEEZA” or the “Company”) held its
Ordinary General Assembly Meeting on Tuesday, 4th March 2025 chaired by MEEZA Chairman, Sheikh Hamad Bin Abdulla Bin Jassim Al-Thani.

The outcome of the Ordinary General Assembly Meeting was the approval of all resolutions on the
agenda including the Board of Directors proposal to distribute a cash dividend of 8% of the nominal
share value, i.e. QR 0.08 per share.

The meeting also covered the Board of Director’s report detailing the Company’s activities and its financial position for the financial year ended 31 December 2024.

The shareholders reviewed and endorsed the external auditor’s report on the Company’s Accounts for the financial year ended 31 December 2024 and the external auditor’s reports on the Company’s corporate governance and internal controls over financial reporting. It was also approved unanimously that PwC be re-appointed as the Company’s auditors for the financial year 2025, in addition to approving their fees.

The shareholders approved the consolidated financial statements of the Company for the financial year ended 31 December 2024 and the Corporate Governance Report of the Company for 2024. Moreover, there was unanimous agreement to discharge the members of the Board from all liabilities and approve their remuneration.

Addressing the shareholders, Sheikh Hamad Bin Abdulla Bin Jassim Al-Thani said: “MEEZA has continued to demonstrate resilience and excellence in delivering world-class IT solutions, reinforcing our position as the preferred partner for digital transformation in Qatar and beyond. Winning the Best ICT Service Provider award at the Qatar Digital Business Awards for two consecutive years (2023 & 2024), in addition to the Best Cloud Solution Award of the year 2022, is a testament to our unwavering commitment to innovation and service excellence. Our performance this year reflects the trust and confidence of our valued shareholders and stakeholders.”

He continued: “As we embark on the next phase of our journey, we remain dedicated to expanding our data center capabilities, investing in cutting-edge technology, and driving sustainable growth. We look forward to another year of success, collaboration, and impact as we contribute to Qatar’s vision for a digitally empowered future.”

In line with the company’s Article of Association, Mr. Mohammad Ali Alghaithani, the Chief Executive Officer, has been elected as a Board Member representing the employees.

MEEZA QSTP-LLC (Public) (“MEEZA” or “the Company”) announced its financial results for the year ended 31 December 2024.

Financial Summary

MEEZA’s Net Profit reached QR 60.4 million in FY2024, representing a 0.4% (or QR 0.2 million) increase over the same period last year, with Earnings Per Share (EPS) of QR 0.09.  Net Profit Margin for the period improved by 1.9 percentage points to 16.1% mainly driven by a revenue increase in the higher-margin segments.

The Company achieved total revenue of QR 374.2 million, declining 11.5% (or QR 48.7 million) year-on-year due to a decrease in low-margin Solutions services. Excluding Solutions services, revenue increased by QR 21.1 million or 7.3%, led by growth in the Data Center (8.1%) and Managed Services (11.8%) revenues.

Growth in high-margin revenue segments led to a 3.1% increase in the Company’s gross profit versus last year, reaching QR 118.3 million. EBITDA margin improved by 3.7 percentage points year-on-year to reach 32.9%, resulting in EBITDA for the period of QR 123.2 million.

MEEZA maintained a healthy financial position with a cash balance of QR 278.8 million, in addition to QR 1.6 billion in future committed contract value.

Based on these results, the Board of Directors of MEEZA has proposed a cash dividend of QR 51.9 million (i.e QR 0.08 per share) subject to the approval of the Annual General Assembly.

MEEZA’s current data center utilization stands at 96%. The Company recently announced a 4 Megawatts (MW) data centre capacity expansion as part of its strategic expansion efforts to meet the growing demand for cutting-edge digital infrastructure. Consequently, MEEZA has signed a Murabaha facility with Dukhan Bank for QAR 135 million, in alignment with the Company’s strategic growth objectives.

Commenting on MEEZA’s results, the Chairman of the Board of Directors, Sheikh Hamad Bin Abdulla Bin Jassim Al-Thani, said:

“We are pleased to announce MEEZA’s continued strong performance during 2024. We are excited about the future, where we will begin our next phase of expansion to achieve MEEZA’s vision to enhance its data centre offering and advance its capabilities in the fields of AI, cybersecurity, and high-performance computing, in line with the country’s ambitions under Qatar National Vision 2030 and Digital Agenda 2030.”

Mr. Mohamed Ali Alghaithani, MEEZA Chief Executive Officer, added:

“It was another successful year in MEEZA’s journey toward becoming a leading Data Center and Managed Services business in the Middle East and North Africa. The Company delivered growth in its main segments, driving our profitability margins. We continued our stellar quality of service across our service portfolio in line with the leading industry standards. We look forward to scaling our data centre capabilities to meet the growing demand for AI, high-performance computing, cloud services, and data security solutions in Qatar and beyond, and across various industries including financial services, healthcare, government, and smart cities.”

MEEZA QSTP-LLC (Public), Qatar’s leading Managed IT Services and Data Centres provider, announces an expansion of an additional 4 Megawatts (MW) of data centre capacity as part of its strategic expansion efforts to meet the growing demand for cutting-edge digital infrastructure. This move reinforces MEEZA’s commitment to supporting Qatar’s Digital Transformation and solidifying its position as a key player in the regional ICT landscape.

The new 4 MW capacity will be incorporated into MEEZA’s state-of-the-art network of data centres, designed to deliver unparalleled reliability, scalability, and efficiency. This expansion comes as part of MEEZA’s vision to enhance its data centre offerings aligning with the country’s ambitions under Qatar National Vision 2030 and the recently launched Digital Agenda 2030.

By scaling its data centre capabilities, MEEZA aims to meet the growing demand for AI, high-performance computing, cloud services, and data security solutions in Qatar and beyond. The new capacity will enable the latest technologies in various industries including financial services, healthcare, government, and smart cities.

Consequently, MEEZA signed a Murabaha facility with Dukhan Bank for QAR 135 million, in alignment with the Company’s strategic growth objectives.

MEEZA, Qatar’s leading end-to-end managed IT services and solutions provider, proudly participated as the Strategic AI Data sponsor at the World AI Summit Qatar 2024, underscoring its pivotal role in shaping Qatar’s AI ecosystem. Through a series of impactful engagements, MEEZA showcased its commitment to accelerating Qatar’s AI readiness by emphasizing advancements in data centre efficiency, robust infrastructure, and the development of essential skillsets.

The event marked a significant milestone with record-breaking attendance, reflecting the growing global interest in AI and Qatar’s role as a hub for technological innovation.

During the summit, MEEZA delivered a thought-provoking presentation titled “Accelerating Qatar’s AI Readiness: From Data Centre Efficiency to Infrastructure and Skillset Development.” The presentation highlighted how MEEZA’s cutting-edge technologies and strategic initiatives are enabling a sustainable and scalable AI environment in line with Qatar’s National Vision 2030 and the Digital Agenda 2030.

MEEZA also moderated a high-profile panel discussion titled “When Machines Create: Managing Risk, Ethics, Bias, and Privacy, featuring esteemed panelists from across the AI and technology spectrum. The discussion delved into critical topics, offering valuable insights on navigating the challenges of AI governance and ethical implementation.

As part of its continued efforts to foster collaboration, MEEZA signed several high-profile agreements during the event:

• Memorandums of Understanding (MOUs): Signed with Sambanova and Cytomate, these agreements aim to drive joint innovation and accelerate the adoption of AI technologies in key sectors.
• Strategic Partnership Agreement: A significant partnership was established with ihorizons, cementing a collaborative framework to advance AI-driven solutions and services in the region.

Through these partnerships, MEEZA reinforces its dedication to empowering organizations in Qatar and beyond with innovative AI solutions, ensuring the nation remains at the forefront of the global AI revolution.

MEEZA’s participation at the World AI Summit 2024 not only underscores its leadership in the technology sector but also reaffirms its commitment to driving Qatar’s digital transformation and AI ambitions.

 

Doha, Qatar – MEEZA, Qatar’s leading Managed IT Services and Solutions Provider, has once again been recognized as the “Best ICT Service Provider” at the Qatar Digital Business Awards (QDBA) 2024.

This prestigious accolade was announced during a ceremony hosted by the Ministry of Communications and Information Technology (MCIT) on Wednesday, November 27. The event was attended by H.E. Mr. Mohammed bin Ali Al Mannai, Minister of Communications and Information Technology, alongside prominent dignitaries, officials, and digital sector pioneers.

The Qatar Digital Business Awards is a premier national platform that honors companies and entrepreneurs driving Qatar’s digital transformation. This year’s awards featured 14 categories, including four new ones, reflecting the evolving needs of the market and encouraging greater diversity. With 303 applications from 132 companies and institutions, winners were selected by an independent jury comprising 23 experts.

MEEZA’s second consecutive win highlights its unwavering commitment to delivering innovative, secure, and customer-centric ICT solutions. MEEZA plays a pivotal role in the national digital transformation strategy by offering a comprehensive IT service management portfolio and providing specialised services certified by the Ministry of Communications and Information Technology for government entities, while enhancing the agility and reliability of critical information systems and ensuring data residency and sovereignty. This ensures information security through compliance with national security frameworks and disaster recovery plans while dedicated IT experts in Qatar provide proactive incident monitoring and resolution services around the clock. This approach reduces operational and capital expenses.

The Qatar Digital Business Awards align with Qatar National Vision 2030 by accelerating digital transformation, promoting the adoption of digital technologies, and fostering knowledge exchange among stakeholders. MEEZA’s consistent recognition in these awards underscores its pivotal role in achieving these national goals.

To learn more about MEEZA’s award-winning Managed IT Services and Solutions, visit www.meeza.net.

Doha, Qatar, 22 October 2024: MEEZA QSTP-LLC (Public) (“MEEZA” or “the Company”) announced its financial results for the nine months ended 30 September 2024.

Financial Summary

In the first nine months ended 30 September 2024, MEEZA’s Net Profit reached QR 42.0 million, representing an 8.7% (or QR 4.0 million) decrease over the same period last year, with Earnings Per Share (EPS) of QR 0.06.  Net Profit Margin for the period improved by 1.4 percentage points to 16.2% mainly driven by a revenue increase in the higher-margin segments.

The Company achieved total revenue of QR 259.4 million, declining 16.6% (or QR 51.8 million) year-on-year due to a decrease in low-margin Solutions services. Excluding Solutions services, revenue increased by 7.5%, led by growth in the Data Center (7.8%) and Managed Services (12.3%) revenues.

This growth in recurring, high-margin revenue segments led to a 1.1% increase in the Company’s gross margin versus last year, reaching QR 84.8 million. EBITDA margin also improved by 4.6 percentage points year-on-year to reach 34.4%, resulting in EBITDA for the period of QR 89.4 million.

MEEZA maintained a healthy financial position with a cash balance of QR 240.7 million, in addition to QR 1.5 billion in future committed contract value.

MEEZA recently signed a deal exceeding QAR 100 million to deliver 1 megawatt Data Centre capacity in its M-VAULT 4 data center facility, bringing its total data center utilization to 96%. The Company plans to expand its capacity to meet growing demand, beginning with a project to double the capacity of its M-VAULT 4 facility at the Qatar Science and Technology Park.

MEEZA QSTP-LLC (Public) – Qatar’s leading managed IT services and data centres provider, has reached an agreement to deliver 1 megawatt capacity in its M-VAULT4 data centre to a global hyperscale’s . The project, with a total contract value exceeding 100 million QAR, extends over the remaining contract period ending in 2036. It aligns with the government’s recently announced “Digital Agenda 2030” strategic plans aimed at advancing digital transformation and AI technology in Qatar.

The Ministry of Communications and Information Technology (MCIT) plays a pivotal role in facilitating this strategic partnership, ensuring that the nation’s digital infrastructure aligns with the highest global standards. Through its leadership and support, the Ministry continues to drive the country’s digital transformation journey, fostering innovation and the development of advanced IT solutions that position Qatar as a regional leader in technology and AI.

This initiative is in line with the MCIT’s ongoing efforts to provide the best hosting services, reinforcing Qatar’s commitment to becoming a global hub for cloud services. By expanding its data centre capacity, MEEZA is poised to offer enhanced support  and enabling businesses across the region to benefit from cutting-edge cloud solutions that meet the highest performance and security standards.

MEEZA’s M-VAULT4 data centre, now reaching full current capacity, sets the stage for MEEZA’s strategic plan to expand its data centre capabilities to meet growing service demand.

The initial capacity plan aims to more than triple the existing capacity to reach 50 megawatts at home in the state of Qatar.

Furthermore, and in other MEEZA Data Centre related news, M-VAULT4 Data Centre achieved the maintenance and operations stamp of approval from uptime Institute in recognition of its operational excellence underscoring MEEZA’s commitment to maintaining the highest standards in data centre operations.

The additional planned data centre capacity will bolster the country’s state-of-the-art infrastructure, enabling more robust AI implementations and innovative solutions that will benefit various sectors, including cybersecurity, smart cities, and healthcare.

This collaboration with global hyperscalers  to host  Cloud Data centre region is a testament to MEEZA’s differentiated ability to deliver against its vision of becoming the preferred data centre and managed IT services provider in the Middle East and North Africa.

MEEZA, established at Qatar Science & Technology Park (QSTP), continues to lead the way in providing world-class data centre services, cloud services, managed IT services, and IT security services. MEEZA’s data centres offer a guaranteed uptime of 99.98%, reinforcing the trust we extend to businesses in Qatar and across the Gulf region can operate with greater efficiency and reduced risks.

 

-Ends-

 

About MEEZA:

MEEZA QSTP-LLC (Public) is an established end-to-end managed IT services and solutions provider founded in Qatar Science & Technology Park (QSTP), that aims to accelerate the growth of the country and the region through the provision of world-class services and solutions, while providing the Qatari people and others throughout the region with opportunities to undertake fulfilling careers in the IT industry.

MEEZA is a publicly quoted company on the Main Market of Qatar Stock Exchange with share capital of 648,980,000 QAR.

The company has five certified data centres, known as M-VAULTs, offering a guaranteed uptime of 99.98% built to comply with the most exacting international standards enabling businesses to benefit from greater efficiencies and reduce risks.

MEEZA’s offerings include Managed IT Services, Data Centre Services, Cloud Services, and IT Security Services, in addition to expertise in Smart Cities Solutions and Artificial Intelligence (AI).

MEEZA is recognized with various prestigious awards including the Best ICT Service Provider Award of the Year 2023 as well as Best Cloud Solution Award of the Year 2022 at Qatar Digital Business Awards by Ministry of Communication and Information Technology. In addition, MEEZA won Most Innovative ICT Services Provider Award of the Year 2023 in Qatar by Global Business Outlook Awards. These prestigious recognitions highlight our unwavering commitment to excellence, innovation, and delivering outstanding services for our clients.

For more information, please visit: meeza.net

MEEZA QSTP–LLC (Public) (“MEEZA” or “the Company”) announced its financial results for the six months ended 30 June 2024.

Financial Summary 

In the first six months ended 30 June 2024, MEEZA’s Net Profit reached QR 29.9 million, representing a 0.6% (or QR 0.2 million) increase over the same period last year, with Earnings Per Share (EPS) of QR 0.05.  Net Profit Margin for the period improved to 16.7% mainly driven by an improvement in the revenue mix. 

The Company’s revenue decreased by 19.1% (or QR 42.4 million) year-on-year to reach QR 179.4 million, due to a decrease in the Solutions services. Excluding this low-margin segment, revenue increased by 7.1%, led by growth in the Data Centre (7.9%) and Managed Services (8.7%) revenue. 

EBITDA for the period was QR 61.7 million, with an EBITDA margin of 34.4%, increasing 5.5 percentage points year-on-year.  

MEEZA maintained a healthy financial position with a cash balance of QR 223.3 million, in addition to QR 1.5 billion in future committed contract value.

 

MEEZA QSTP-LLC (Public) – Qatar’s leading managed IT services and data centres provider, is pleased to announce a strategic cooperation agreement with AMD, a global leader in high-performance computing and graphics solutions. This collaboration will see MEEZA leverage AMD’s advanced accelerated computing platform to help enable the AI revolution in Qatar and the region.

The agreement was signed by representatives from both MEEZA and AMD, setting the foundation for a cooperative relationship that will benefit both parties. This strategic collaboration focuses on enhancing mutual capabilities and providing access to AMD’s high performance and adaptive computing technologies.

“We are excited for the opportunity to partner with AMD to drive the AI revolution in Qatar and the region,” said Mr. Mohamed Ali Al-Ghaithani, CEO of MEEZA “By leveraging AMD’s cutting-edge accelerated computing platform, we are poised to meet the growing demand for generative AI solutions and seize new AI growth opportunities.”

The cooperation agreement delineates several key areas of collaboration, including increasing opportunities for both companies to share expertise and enhance professional growth, providing MEEZA with access to AMD’s latest technological innovations and research projects. Through the collaboration, MEEZA and AMD will explore deployment of AMD technologies in MEEZA’s data centers to meet the significantly growing demand for accelerated computing infrastructure to support advanced AI models, identifying and pursuing joint projects that leverage the strengths of both companies, and further opportunities for collaboration that benefit both MEEZA and AMD.

“This collaboration with MEEZA underscores AMD’s commitment to driving innovation and enabling the AI revolution,” said Zaid Ghattas, Regional Manager CEEMETA, AMD. “Together, we will harness the power of advanced computing to accelerate technological advancements and address the evolving needs of the market.”

This collaboration marks a significant step towards leveraging AI to meet regional market demands and drive technological progress. Both MEEZA and AMD are committed to fostering innovation and delivering cutting-edge solutions to their clients and partners.

MEEZA, Qatar’s leading managed IT services and data centers solutions, hosted a highly informative and engaging roundtable on “Cloud Computing and the Financial Sector” last Thursday, 23^rd of May 2024. The event brought together executives and decision-makers from the financial sector in Qatar, to discuss the latest cloud technology updates, regulatory landscape, and information security challenges associated with cloud computing.

The MEEZA team kicked off the session with an insightful presentation on current technology trends in the financial sector. They emphasized the critical importance of cloud computing regulations, governance, and policies, highlighting how these elements are essential for secure and efficient operations in the financial domain.

The audience also participated in a discussion around cloud computing regulations, and the information security concerns prevalent in the financial industry, exchanging views on the challenges the sector faces and explored potential solutions to enhance the security of cloud-based financial services.

MEEZA is dedicated to providing secure, reliable, and innovative cloud solutions that meet the evolving needs of the financial sector. The goal is to empower financial institutions to leverage the full potential of cloud computing while ensuring compliance and security.

The roundtable was an excellent opportunity for financial sector leaders to network, share insights, and discuss collaborative strategies to navigate the complex landscape of cloud computing. The event emphasized MEEZA’s commitment to supporting the financial sector through cutting-edge technological solutions and stringent security measures.

MEEZA continues to demonstrate its leadership in the IT sector by fostering dialogues and partnerships that drive technological advancement and secure digital transformation in Qatar and beyond.