President of Umm Al Qura University (UQU) Dr. Bakri Bin M'atoog Bin Bakri Assas on Sunday, Moharram 22 attended a ceremony of signing investment contract between Smart Cities (a UQU start-up company) with Multi links (UAE).

The ceremony was held at Al-Abidiyah Campus and attended by Vice-President of the University and Deputy Chairman of the Board of Wadi Makkah Dr. Nabil bin Abdul Qader Koshak, and its CEO Osama bin Rashid Al-Omari along with representative of Wadi Makkah start-ups.

Dr. Saleh Ba-Salama, a founder of the Smart Cities, signed the contract as one party while Mr. Abdullah Saqr, CEO of Multi Links signed as the other party.

In his comments on the new agreement, Dr. Assas said the deal is a proof of leap achieved by Umm Al-Qura University depending on the endless support of Saudi leaders and on the follow up by Prince Khaled Al Faisal, Emir of Makkah and advisor to the Custodian of the Two Holy Mosques and Education Minister Ahmed bin Mohammed Al-Issa.

The president described the deal as a turning point for the startup companies that eye more foreign investments. 

Dr. Koshak, who is the deputy chairperson of Wadi Makkah, praised support shown by university and added the contract is part of a UQU's plan to take a place among the internationally renowned universities for its scientific expertise and creative potentials of its students.

In the same context, Mr. Saqr voiced happyness for having investment with Wadi Makkah startups. He highlighted high quality products manufactured by the company and match famous trademarks. The sales made by the Smart Cities and the high demand on its products encouraged Multi Links to start new business with the Saudi new company, he said, promising the deal is a step for other agreements with more startups.

Dr. Ba-Salama has applauded the agreement, saying it would benefit the Smart Cities company and help in expansion and growth. He asserted the new investments would stand as incentive for more development and accelerate progress to keep clients from the public and private sectors satisfied.

Also, Dr. Al-Omari said the deal is the first of its kind and more would be concluded by other startups and venture capital investors.