DUBAI, United Arab Emirates (AP) — German business software maker SAP is planning to significantly boost spending in the Middle East and North Africa in anticipation of increased regional growth.
The company told reporters on Monday in Dubai that it expects to spend $450 million on the region over the next four years. Executives say they plan to recruit 500 new employees and open several additional offices as part of the expansion plan.
SAP has operated in the Middle East since 2007 following the acquisition of a local distributor. It has more than 300 employees in the region now.
Chief Financial Officer Werner Brandt says he expects the Middle East will be one of SAP’s best performing regions for revenue growth over the coming years.