Apr. EN 2020

In the current scene, the telecommunications sector, in addition to the health and financial sectors, provides assistance to deal with emergency situations with high efficiency, according to the report on benefits. The telecommunications sector currently controls the largest portion of solutions for all challenges and obstacles facing the continuation of economic and social activities. The economic sector in the Gulf is more prepared than others in dealing with suchconditions,inlightofitscontinuous development and modernisation, which is what drives optimism in getting out of the current ordeal. 3 Mazaya Monthly Real Estate Report - Week 2 - April 2020 The weekly report of Al Mazaya Holding Company emphasised that the rapid progress in the field of technologies has helped several companies create digital entertainment solutions, worth billions. The report pointed out the need for development and investment that could help medical and research sectors deal with emerging epidemics, which will yield positive results in terms of financial and economic activity. The report also highlighted that the telecom companies in the Gulf enjoy good financial positions and positive accumulated profits that help them qualify to lead the current stage. The current data shows that the net profits of these companies resulting from the growth of revenues related to operating operations totaled to $ 5.94 billion during the first nine months of the year 2019, where investments were concentrated in areas of digital transformation, development of digital payments, andartificial intelligence. As for financial technology, the report projected an unprecedented increase in use, to replace credit cards instead of paper money in daily purchasing transactions, as part of measures to prevent the spread of the Corona virus. On the other hand, the report indicated that the annual growth rate in the number of emerging financial technology companies reached 39%, which reflects the great interest of investors inentering into theseprojects.