Riyadh
A global city and the capital of Saudi Arabia, Riyadh has a population of just under six million people. Since the oil boom (starting in 1974), the country has been transformed into one of the top 20 richest in the world in terms of GDP.
Saudi Arabia has an economy that is heavily reliant on oil and is the largest exporter of petroleum in the world.
Along with Russia, the country produces more oil than anywhere else in the world but in recent times the Saudi government has taken steps to diversify the economy and encourage private sector growth across a range of industries.
The location
Situated in the heart of the Arabian Peninsula on a large plateau the city is divided into 15 municipal districts.
A hot desert climate makes temperatures in the summer rather uncomfortable but winters are warm and pleasant.
Neighbouring areas - price comparisons, per person per month
The prices given below are the minimum to maximum average cost for serviced offices, per person per month, derived from our Sales Team's knowledge.
Area - Indicative price range
Riyadh: SAR1500 - 3500
Doha: SAR5000 - 8000
Abu Dhabi: SAR1800 - 5000
Dubai: SAR2000 - 6500
Looking for an office in Riyadh
In the past the majority of commercial activity and office space was centred around two main streets in the city, Olaya Street and King Fahd Road. These areas are still very popular but companies are also now looking towards the north of the city where a lot of the new development of the city is planned.
Costs
A typical four-person serviced office space in Riyadh will cost between SAR 5,000 up to SAR 12,000 for the best locations and the highest quality spaces.
However, when looking at serviced offices it is always worth keeping in mind that these costs usually cover amenities, which may include internet, meeting rooms, reception services etc., and as such can offer great value for money.
Office sizes
Instant Offices currently has a number of options available in the Riyadh area meaning that we can provide plenty of choice in terms of office style and size. We are able to accommodate most enquiries, from one person through to 100 or more depending on the specifics.
Five things you probably didn’t know about Riyadh:
1. With over 60,000 students across 15 colleges, the Princess Nora bint Abdulrahman University is the largest university for women in the world Riyadh’s camel market is one of the largest in the world, with approximately 100 camels sold each day
2. Riyadh’s camel market is one of the largest in the world, with approximately 100 camels sold each day
3. The name of the city is derived from the Arabic ‘rawdah’ meaning a place of gardens or trees
4. The population of Riyadh in 1962 (prior to the oil boom) was estimated to only be 169,000
5. Riyadh is home to the largest coffee shop in the world, the Al Masaa Café which has 1,050 seats
Why choose Riyadh?
For companies looking for a cost-effective alternative to the more expensive Dubai and Doha office markets, Riyadh can provide a great solution. It is the main city in the region and a presence here would put you close to some major international players, especially in the oil and energy markets.
They city provides international travel from the impressive King Khalid International Airport with regular flights to all the region’s major cities; Dubai can be reached in less than two hours.
A closer look at Riyadh
The following districts are the most popular areas in which to rent office space:
King Fahad Road:
• The city’s main road running through its centre from north to south
• Majority of the city’s business surrounds the arterial road on both sides
• Home to the headquarters of major companies and large malls
King Abdullah Financial District:
• Located close to King Fahad Road
• Plans included for the district include a world-class conference centre, an amusement park, and first-class infrastructure that includes wireless internet connection
• The new district is being designed to have three times as many high-end office spaces than the rest of Riyadh
Al Olaya District:
• A growing financial district in Riyadh
• Home to the other main street in the city, Olaya Street, that runs parallel to King Fahd Road
• Two of the city’s most distinctive landmarks, the Al Faisaliyah Center and the Kingdom Centre can be found in this area
North Riyadh – Al Falah District
• Princess Nora Bint Abdul Rahman and Imam Muhammad ibn Saud Islamic University located in the area providing companies with access to graduates
• Also home to one of Riyadh’s shopping malls, the Granada Center
• Good for companies looking for cheaper alternatives away from Olaya Street and King Fahad Road
• Multinational conglomerate Siemens AG have a strong office presence here
Want to find out more?
If you’re looking to move into the area, or simply require more information, contact Instant Offices' specialist local consultants.
Email our team or call us and we'll be delighted to help you.