Business

Is Riyadh going to be the ‘super hub of the future’?

That’s what the real estate consultancy Knight Frank is projecting as the Saudi city oversees one of the most ambitious and fast-track developments, whether it’s infrastructure, housing, office towers, or creating retail and entertainment destinations.

“The Saudi capital is rapidly transforming into a dynamic destination for global wealth… strategically diversifying its economy away from oil dependence and evolving into a powerhouse for finance, culture and lifestyle,” says Knight Frank.

Lowering Saudi unemployment

Riyadh continues to attract ‘significant domestic and international business activity’ – and which led to nation-wide unemployment rate fall to a record low of 7% in Q4-2024′.

In the final quarter of last year, Saudi Arabia issued more than 160,000 new business licences, which is a 67% increase from the same period the year before. It brought the total number of registered commercial entities in the Kingdom to more than 1.6 million.

Regional HQs

“A key initiative is the ‘Regional Headquarters Programme’, which has already surpassed its 2030 target, with around 600 international companies,” says the report.

This includes corporate giants such as Bechtel, Northern Trust and PwC,w which have committed to ‘establishing regional bases in Riyadh’.

All of which has led to Grade-A office vacancy rates of ‘just 2%’, while prime office rents surged by 23% in the past year (and by 84% since Q1-2020).

Riyadh’s office inventory is projected to expand from 5.5 million square metres to 9.8 million square metres by 2027.

“This growth is supported by state-led infrastructure developments and rising interest from institutional investors targeting long-term exposure to the Kingdom’s evolving office landscape,” says the statement.

King Khalid Airport

In parallel, the infrastructure investments are moving more or less on schedule. There are the attractions such as the 220-kilometre stretch of Sports Boulevard, an ‘expanding’ King Khalid International Airport – currently serving 113 domestic and international destinations – and the Riyadh Metro and public bus network.

“These developments are attracting expatriates, entrepreneurs and families, reshaping perceptions and reinforcing Riyadh’s emergence as a global city of choice for the next generation of talent,” says Knight Frank.

“Combined with the rise in major multinationals opening offices in the city and high-quality residential and leisure developments, Riyadh has a uniquely compelling offer as a live-work-play destination both within the GCC and globally,” said Harmen De Jong, Regional Partner – Head of Consultancy, MENA at Knight Frank.

Story by Gulf News

Business

Two major parks planned in Riyadh

Authorities in the Saudi capital have unveiled plans to develop two expansive public parks covering more than 310,000 square metres as part of a broader push to increase green spaces across the city.

The Riyadh Region Municipality confirmed on Wednesday that the new developments will be situated in the eastern and southern districts of the capital. The project is designed to transform the city’s urban landscape, shifting away from traditional park layouts toward integrated “urban destinations” that cater to both recreation and environmental sustainability.

Central to the design is a scenic valley that will serve as a functional and visual anchor for both sites. According to municipal officials, the parks are intended to bolster the city’s “urban fabric” by providing high-quality public areas that align with the quality-of-life goals set out in the Saudi Vision 2030 framework.

The facilities planned for the 317,200-square-metre footprint are extensive. Beyond standard greenery, the sites will feature a golf course, multi-purpose sports fields, and dedicated jogging tracks. Families will have access to children’s play areas and water features, while the inclusion of a theatre and designated event spaces suggests the parks will double as cultural hubs for the local community.

“These parks represent high-quality developments aimed at expanding public spaces across the capital,” the municipality said in a statement. The announcement noted that the projects would also include a range of commercial amenities, including restaurants and cafés, to ensure the parks remain active throughout the day.

This latest initiative follows a series of large-scale environmental projects in the Kingdom, where officials are increasingly prioritising “livability” as Riyadh undergoes population and infrastructure expansion. The municipality highlighted that the design focuses on “environmental sensitivity,” incorporating innovative greening techniques to manage the arid climate while maintaining sustainable water use.

Business

Prince William to Official Visit Saudi Arabia in February

Britain’s Prince William is set to visit Saudi Arabia for the first time in an official capacity, Kensington Palace announced on Wednesday. The trip is scheduled from February 9 to 11, 2026.

Strengthening Ties Between the UK and Saudi Arabia

According to Kensington Palace, the visit comes as the UK and Saudi Arabia mark growing trade, energy, and investment partnerships. It also coincides with celebrations of nearly a century of diplomatic relations between the two nations.

A First for the Duke

This will be Prince William’s first official trip to Saudi Arabia, highlighting the importance of the country in the UK’s international relations and economic strategy.

What to Expect

While details of the itinerary haven’t been fully released, the visit is expected to include meetings with Saudi officials and discussions on trade, investment, and energy collaboration.

The visit signals a continued focus on strengthening ties between London and Riyadh, while marking a historic moment in Prince William’s international engagements.

Business

Japan tourist arrivals hit record 42.7 million in 2025

Tourists to Japan hit a record 42.7 million in 2025, exceeding 40 million for the first time, Japan’s Tourism Minister, Yasushi Kaneko, told a press conference.

Total spending by inbound tourists reached 9.5 trillion yen ($60 billion) over the year, also ‌a record high.

WAM