The first stage of Ooredoo's 5G network, the next generation telecom services, will be launched by 2018, which will be commercially available by 2020, a top official of the Qatar-based telecom giant said yesterday.
Once the 5G network is rolled out in Qatar, the internet speed will jump to between 1GB and 10GB per second. "We are already working to build the first R&D Centre and also a research laboratory with Huawei, which is going to be open for professionals soon," said Waleed Al Sayed, CEO, Ooredoo Qatar, adding, "We are ready to implement 5G in Qatar as soon as it is standardised and available commercially."
"The building is ready, and it will take another one year to be operational as we are in the process of putting in place the needful equipment and support services. So the challenge is how fast the standardized can be brought forward to launch 5G," Al Sayed added, while speaking to reporters on the sidelines of the Ooredoo Group's AGM yesterday.
Earlier during the AGM, Sheikh Abdulla bin Mohammed bin Saud Al Thani, Chairman, Ooredoo's Board of Directors, announced that the Group has withdrawn its investments in wireless businesses in Pakistan, Jordan and the Philippines as the technology is not picking up well. Al Sayed also said that the Group is currently focusing on expansion of its ICT business and investing very aggressively to build its capabilities and data centres aiming to become the biggest and the most important player in the ICT sector.
The Group, which has big operations in 11 countries (including Qatar), is focusing more in North Africa and Asia and soon going to launch 4G services in Tunisia and Algeria. The Ooredoo Group has plans to invest between 11 and 20 percent of its revenues on enhancing its infrastructure depending on the topography and geographical size of the country of its presence. Shareholders ratified all the agenda of the meeting, including the recommendation of the Board of Directors to distribute a cash dividend of 30 percent of the nominal share value (QR3 per share). The Ooredoo Chairman outlined the company's significant achievements in 2015, including its success in building data leadership across its markets. Group's data revenue now represents 37% of group revenue compared to 25% in 2014. Data revenues reached QR12bn in 2015.
Ooredoo delivered QR32.2bn in revenue in 2015, and EBITDA of QR13bn. Net debt is down 4% and net debt to EBITDA ratio improved from 2.3 to 2.2, reflecting Ooredoo's efforts to have an efficient capital structure in place.