TAWAL owns 30,000 towers Across 5 markets; IPO under discussion: CEO

TAWAL CEO Mohammed Alhakbani

TAWAL Co., the tower infrastructure company, manages 30,000 towers across five markets, up from about 14,000 at its establishment, after its merger with Golden Lattics Investment Co. (LATIS) is, its CEO Mohammed Alhakbani said.

Saudi Arabia accounts for about 24,000 of the towers, while the company also operates in Pakistan and Eastern Europe, including Bulgaria, Croatia, and Slovenia.

Speaking to Argaam on the sidelines of LEAP 2026, Alhakbani said TAWAL's financial and operational position and market standing were "very strong."

He said the company was prepared to meet customer needs, strengthen governance and asset management, and pursue further growth through its projects and services.

TAWAL built more than 1,000 new towers last year and carried out more than 12,000 upgrades to improve coverage and meet customer requirements, Alhakbani said.

The investments are aimed at improving network coverage and data download speeds, while maintaining network continuity and improving operational and financial efficiency, he added.

TAWAL's direct customers include telecom operators such as stc, Mobily, and Zain. Government and private-sector entities and consumers also benefit from the infrastructure it provides.

Alhakbani said digital infrastructure was a key factor in the success of major projects in Saudi Arabia.

TAWAL works with major developments, including Qiddiya, Diriyah, and the Red Sea Project on infrastructure planning. Towers remain its core product, while the company is also exploring services and solutions, including 5G, the Internet of Things (IoT), and edge computing.

The company has signed more than 15 agreements with global and local companies this year, including an edge computing agreement with Lenovo, a connectivity agreement with Balady, and an agreement with Huawei, Alhakbani said.

He said the number of agreements was not the company's key metric, with the focus instead on turning partnerships into products and services that support customers and improve operational efficiency.

On the potential impact on TAWAL's revenue and earnings from a possible acquisition of more than 10,000 sites from Mobily, Alhakbani said the company could not provide further details beyond what Mobily had officially disclosed.

Preliminary discussions are underway, and no formal agreements have been signed, he said.

TAWAL evaluates potential opportunities from a strategic perspective, aiming to generate positive investment returns while aligning with its strategic plans, Alhakbani said.