SAP has announced plans to invest US$450mn across the region and North Africa over the next four years in an attempt to spur growth.
The German based company held a press conference in Dubai in which senior executives outlined SAP's ambitious plans to expand across Middle East and to try and achieve 40 per cent revenue growth by the close of 2015.
Building on growth
"SAP expects to significantly grow in its MENA revenues by 2015, building on double-digit compound growth between 2008 and 2011 and establishing the region as one of the company's top 10 growth markets globally," the company said in a statement.
Chief Financial Officer Werner Brandt said that the business software maker intended to recruit more than 500 new employees, in addition to the roughly 300 in the region now.
SAP has been operating in the Middle East since 2007, following its acquisition of a local distributor. Its regional expansion plans call for several new offices and increased Arabic-language and country-specific offerings.
It also intends to set up a training and development institute to certify 2,000 new computer consultants - IT professionals trained to work with SAP customers.
The location of the institute is yet to be decided, but candidates include Egypt, Saudi Arabia and the UAE, Reuters reported.