$HBAR Hedera (HBAR) has made significant strides in the Gulf region, especially in Saudi Arabia and the UAE. Here are some key developments:

1. Saudi Arabia Partnership: Hedera has entered into a five-year, $250 million strategic partnership with Saudi Arabia's Ministry of Investment (MISA) to establish the "DeepTech Venture Studio" in Riyadh. This initiative aims to support over 500 companies in developing advanced technologies such as AI, blockchain, IoT, and VR. The project aligns with Saudi Vision 2030, which seeks to diversify the Kingdom’s economy beyond oil. The studio will offer technical support, training, regulatory compliance, and access to venture capital investments.

2. UAE Partnership: Hedera, through its HBAR Foundation, has partnered with UAE-based blockchain consultancy DECA4. This collaboration aims to enhance the use of Hedera's technology in the region. A key project under this partnership involves Al Nakheel Jewellers, a UAE-based diamond retailer. The initiative focuses on launching a diamond value chain platform on Hedera, which will enable consumers to track the origin and journey of their diamonds. This project is the first in the region to receive a grant from the HBAR Foundation.

These partnerships highlight Hedera's growing presence in the Gulf region as it seeks to support technological innovation and adoption in key markets like Saudi Arabia and the UAE.