Saudi youth drives new wave of Riyadh business parks

Riyadh is the largest city for corporate expansion in the Kingdom. (Shutterstock)
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Updated 09 February 2020

Saudi youth drives new wave of Riyadh business parks

  • The report sheds light on the growing demand for office space in the capital

RIYADH: Savills, the leading global real estate services provider, released its latest Saudi Arabia market report analyzing the rise of business parks in Riyadh.

The report sheds light on the growing demand for office space in the capital and the introduction of business parks to meet the requirements of businesses. 

David O’Hara, head of Savills’ Saudi Arabia branch, said: “The concept of office space has undergone significant changes over the past few years. It has evolved from the ‘cubical’ setup in the nineties to ‘open plan’ desk space in the twenties and to ‘flexible’ and ‘co-working’ spaces today. This evolution has been driven by both changing business requirements as well as evolving employment needs.

“The Kingdom has been witnessing major changes over the past few years. With close to 40 percent of the country’s population between the age of 20-40 years, it’s imperative to incorporate their requirements while building. Riyadh is transforming smartly, hence the importance of introducing the concept of business parks to meet evolving and new business needs while attracting and retaining talent.”  

Riyadh is the largest city for corporate expansion in the Kingdom. According to Savills, the rise of business parks is likely to attract new and various business sectors in the next three years, such as in fintech, education, health care, entertainment, defense, transportation, consultancy and others related to Vision 2030. 

O’Hara said: “From a property management and facility management point of view, the entry of global companies and introduction of investment grade supply will necessitate the services of professional companies to manage assets. This is important as it offers a competitive advantage and helps maintaining the quality and service offering of the asset relevant to the changing market requirements. For the moment, most of the developers prefer to carry out these services in-house but we expect this to change over the next few years.”


Saudi Arabia reports 29 COVID-19 deaths, 455 new cases

Updated 28 September 2020

Saudi Arabia reports 29 COVID-19 deaths, 455 new cases

  • 841 patients have recovered from the virus over the past 24

RIYADH: Saudi health authorities announced 29 deaths from COVID-19 on Monday, taking the Kingdom’s death toll from the virus to 4,712.
A total of 455 new cases were also announced, with 52 in Jeddah, 48 in Madinah, 35 in Makkah, 33 in the capital Riyadh and 32 in Hafouf, among the cities with the highest count. 
The total number of confirmed cases in the Kingdom has reached 333,648, with 11,090 active cases and 1,034 in critical condition. 

According to the health ministry, 841 patients have recovered from the virus over the past 24 hours, bringing the total number of recoveries to 317,846. 
The coronavirus pandemic has affected over 33.14 million people globally and the death toll has reached 997,236.