2P wins $19.7m Jeddah cybersecurity project
Photo credit: Saudi Press Agency (SPA) / CC BY-SA 4.0
Saudi technology company 2P has won a $19.7 million cybersecurity project with Jeddah Municipality.
The project will cover more than 25 cybersecurity systems and solutions used by Jeddah Municipality, according to a Saudi Exchange disclosure published on August 27. The contract is valued at $19.7 million.
Under the project, Perfect Presentation for Commercial Services (2P) will operate and maintain the municipality’s cybersecurity devices and systems. It will also provide technical support, license renewals and lifecycle management.
The scope extends beyond technical maintenance. 2P will support cybersecurity governance, risk management and compliance. It will also help develop and enhance security policies.
The company will provide system upgrades, continuous improvement services and cybersecurity awareness activities. These services are intended to strengthen the municipality’s overall cybersecurity maturity.
Saudi Arabia’s cybersecurity market reached about $4.05 billion in 2024, with government entities accounting for 32% of total spending.
The award also reflects the growing scale of cybersecurity spending in Saudi Arabia’s public sector. The Kingdom’s cybersecurity market reached about $4.05 billion in 2024, up 14% year on year. Government entities accounted for 32% of total spending, or about $1.28 billion. The Jeddah project also shows how demand is expanding beyond individual products toward managed services, lifecycle support and governance.
Riyadh-based 2P is a Saudi-listed IT services and systems integration company. Its activities include managed IT services, networks and infrastructure, information security and cybersecurity.
The company said the project is expected to have a positive financial impact from 2026 through 2029.
