AlFalak Electronic Equipment & Supplies, a leading provider of technology-based solutions, has achieved significant growth on the back of increasing demand for ICT products in Saudi Arabia.

AlFalak posted total revenues of over SR300 million ($80 million) in 2007, setting a new growth record and underscoring the company's greater role in addressing the emerging ICT requirements of the kingdom, said a statement.

AlFalak's impressive market performance was highlighted by the signing of major deals with prominent local business organisations as well as its participation in critical ICT projects within the oil and gas sector, it said.

A greater ICT adoption rate across all industries has resulted in a significant 20 per cent increase in the country's demand for ICT products and services, contributing largely to AlFalak's strong market performance, said the company.

The increase in computer and internet usage has likewise exceedingly complemented the broadening ICT market; KSA recorded more than 3.43 million computer-installed bases in 2007 or a 16 per cent increase from 2006, and saw a 36 per cent increase in internet users from 4.7 million in 2006 to an estimated 6.4 million in 2007.

'AlFalak again logged another banner year in 2007, signing several key projects and partnerships with some of the biggest organisations in the Kingdom.

'However, despite our strong market performance and the dramatic increase in ICT adoption, the country remains nowhere near its full ICT potential, presenting even more business prospects and growth opportunities for us.

'Accordingly, we continue to build up our portfolio as we are fully committed to delivering products and services that will help build a strong ICT base in Saudi,' said Ahmed Ashadawi, CEO and President, AlFalak.

Reflecting its reputation as Saudi's leading ICT provider of end-to-end solutions, AlFalak's impressive client list includes some of the most prestigious organisations in the Kingdom, including Saudi Aramco, King Abdullah University for Science and Technology (Kaust), PetroRabigh and the Ministry of Culture and Information.

AlFalak expects to further consolidate its portfolio of high-end clients as demand for its ICT services and products is poised to intensify in the next five years, with the Kingdom continuing its massive adoption of new technology in all industry sectors, including oil and gas, petrochemical, real estate, telecommunications, construction and finance.

AlFalak has been ranked by Arab News as one of the top 100 companies in Saudi Arabia for the past four years.

The company delivers enterprise IT solutions through a network of offices and trained technical personnel throughout the Middle East.

AlFalak's portfolio of business partnerships include leading solution and software providers, hardware and consumable manufacturers, business consultancy firms and implementation specialists.

The company has been aggressively expanding its facilities and networks as it pursues its expansion strategy across the region in partnership with leading global brands such as HP, 3M, Alcatel-Lucent, Bluecoat, Juniper, Oracle, Imation, Genius, Compuware, and SAS. - TradeArabia News Service