Edarat Communication and Information Technology Co. has appointed Sallam bin Zaki Al-Khunaizi as Chairman and Musaed bin Fahad Al-Sudairi as Vice Chairman, following the company's extraordinary general assembly held in mid-September. Edarat disclosed the board's officers to the Saudi Exchange on 29 September 2026. The board election received shareholder approval with 82.60% support. The appointments mark a significant leadership transition for the Riyadh-based technology services firm, which is listed on the Saudi Exchange under the ticker EDARAT and operates as an affiliate of Al Moammar Information Systems Company.
Al-Khunaizi and Al-Sudairi were among five board members elected for the new term that began in mid-September. Al-Khunaizi and Al-Sabeq were elected as independent members alongside executive director Eric Ernist AlBaduy and Adel Fouad Rizk. The board appointment follows a period of strategic expansion for Edarat, which has won several major contracts in recent months, including a significant colocation services agreement with Banque Saudi Fransi valued at more than 5 percent of the bank's 2025 revenue, as well as a design and supervision contract for an AI data center.
Al-Khunaizi brings more than 25 years of experience in investment, asset management, and financial services to the role. Most recently, he served as Chief Executive Officer of BSF Capital (Saudi Fransi Capital), the investment arm of Banque Saudi Fransi, a position he held since 2021. Before that appointment, Al-Khunaizi was Chief Executive Officer of Samba Capital and Investment Management Company, where he led the firm's investment banking business to become the leading practice in Saudi Arabia. He also served as Head of Equity Capital Markets at JP Morgan Saudi Arabia and holds a Bachelor of Science in Finance with honors from King Fahd University of Petroleum and Minerals. Earlier in 2026, he was appointed Chief Executive Officer of Mulkia Investment Company, though his new role at Edarat suggests a shift in focus.
Edarat was founded in 2004 and specializes in data center engineering, cloud computing services, and ICT consulting across the Gulf Cooperation Council and broader Middle East and North Africa region. The publicly traded company generated approximately $26 million in revenue as of recent reporting and employs around 177 people. Edarat operates six data centers in Riyadh and Dammam and has worked on or is managing more than 150 data center projects. The company has positioned itself as a sovereign cloud provider for the region, recently partnering with Orange Business, Nvidia, and LightOn to deliver a generative AI platform for governments and organizations in the Gulf. Edarat's strong revenue growth of approximately 36 percent annually and declining cost structure have attracted investor interest amid robust demand for regional data center and cloud infrastructure services.
The appointment of Al-Khunaizi as Chairman signals potential strategic evolution for Edarat. His decades of experience in capital markets, investment banking, and complex transaction execution in Saudi Arabia suggest the company may pursue more aggressive expansion, capital raising, or strategic partnerships in the technology infrastructure sector. The leadership transition arrives as Edarat competes in a growing market for data sovereignty and localized cloud computing across the region, backed implicitly by Saudi Arabia's Vision 2030 infrastructure priorities. The appointment of Al-Sudairi as Vice Chairman, alongside the retention of executive leadership from the prior term, suggests continuity in operational strategy while introducing capital markets expertise at the board level. For investors, the move reflects confidence in maintaining Edarat's growth trajectory within the evolving regional technology landscape.
