THE MIDDLE EAST’S
8. stc group
Country: Saudi Arabia
Sector: Telecommunications
Group CEO: Olayan Alwetaid
Market Value: $59.2 billion
stc group is a regional digital telecoms operator, with over 29 million mobile and more than six million fixed subscribers based in Saudi Arabia. In December 2025, its subsidiary center3 formed a joint venture with PIF’s HUMAIN to develop AI data centers with up to 1 GW capacity. In September 2025, stc group signed a $320 million investment agreement with Red Sea Global to expand digital infrastructure across its destinations. For the first nine months of 2025, the group reported $15.4 billion in revenue and $3.1 billion in net profits.