The view from the eighty-second floor of the Public Investment Fund tower in early 2026 offers a perspective that is as much chronological as it is geographic. Below, the desert sun glints off the angular steel of the King Abdullah Financial District (KAFD), while boardroom conversations focus not on crude benchmarks but on fintech unicorns like Tabby and Tamara. “New Riyadh” is a city transformed from a regional administrative centre into a global command hub, driven by the Regional Headquarters programme and Vision 2030’s multi-trillion-dollar engine.
The RHQ Mandate And Structural Scarcity
The transformation began in February 2021 when Saudi Arabia announced that, by January 2024, any multinational seeking government contracts must establish its regional headquarters in the Kingdom. What started as a mandate evolved into an irresistible proposition by December 2023, when authorities unveiled a 30-year tax incentive package. There is a 0% corporate income tax and withholding tax on eligible RHQ activities, coupled with unlimited visa allocation and Saudization exemptions.
The response has outpaced projections. While “Vision 2030” targeted 480 regional headquarters by the decade’s end, over 660 multinational companies had secured licenses by September 2025, with ten to twelve new licenses issued monthly. Morgan Stanley, Bechtel, PepsiCo, PwC, Deloitte, and IHG have all anchored in the capital. By requiring mandatory activities (strategic planning, financial oversight, regional coordination) to occur within the Kingdom, Saudi Arabia has ensured that high-value decision-making intelligence now takes root in Riyadh.
An unprecedented number of corporates moved to Riyadh, creating historic pressure on real estate. In late 2024, Grade A office occupancy was about 98%, and prime rents were pushed up about 31% year-on-year in certain districts.
By June 2025, paying SAR 2,700 per square metre for housing wasn’t uncommon, as prices hit an all-time peak. Most predict things might shift only after 2026 rolls around; that’s when more than 900,000 square metres of fresh units are set to enter the market. A mismatch in demand and supply still looks likely to persist until then.
Around January 2025, most people wanting specific buildings asked for areas under 100,000 square metres. During the last few months of 2025, eight out of ten requests were for spaces close to 1,000 square metres.
Now think about it. This change shows companies aren’t just setting up shop anymore. They’re moving beyond that first step forward. Instead, they’re building real operations, step by step. The change is underpinned by robust economic fundamentals. Non-oil GDP grew 4.5% in 2024, with 5.8% projected for 2025, supported by an S&P credit rating of A+.
Vertical Urbanism At Scale And Fintech Sovereignty
The epicentre is KAFD, a 1.6-million-square-metre “city within a city” comprising 95 buildings designed by more than 25 architectural firms. This vertical ecosystem integrates Grade A offices, upscale residences, commercial zones, luxury hospitality, and entertainment venues connected by climate-controlled skywalks and the landscaped “Wadi” pedestrian route.
KAFD earned LEED Neighbourhood Development Stage 2 Platinum certification, achieving 40.5% energy cost savings through solar panels and efficient systems. Hosting more than 140 companies, from startups to MNCs, the district offers world-class flexible workspace through facilities like The Executive Centre, essential for firms in rapid growth or market-testing phases.
Conversations atop the PIF tower focus on Tabby’s USD 4.5 billion valuation and Tamara’s USD 2.4 billion financing package. Saudi Arabia’s digital economy has accelerated dramatically, with ICT now accounting for 15.6% of GDP. Over 75% of financial transactions are digital. The Kingdom achieved the 70% non-cash target two years earlier than expected. The Kingdom aims to host 525 fintech companies by 2030, supported by SAMA’s Open Banking Framework.
STC Pay became Saudi Arabia’s first fintech unicorn, with 12 million customers, while wealthtech platforms gain traction, with 65% consumer preference for AI-powered, Shariah-compliant investment solutions. LEAP 2026, attracting 200,000 attendees and generating USD 14.9 billion in deals, serves as the annual convergence point where global capital meets regional policy.
Executive Life And Global Connectivity
The Saudi Premium Residency programme (the “Saudi Green Card”) offers independence to live, work, and invest without local sponsorship. The Special Talent track requires an SAR 80,000 monthly salary, granting real estate ownership and comprehensive family sponsorship.
Nowadays, living in Riyadh isn’t quite the same. Places where men and women mix stand beside big screens, lighting up crowds, along with international music events under neon lights. Life feels different now. Business leaders often choose high-end areas such as the Diplomatic Quarter or Al Malqa, not just for location but for status. Nights begin at fine dining spots, including Il Baretto and Benoit, both praised by Michelin guides, shaping how deals unfold after dark.
Logistical changes help explain why Riyadh stands out. By 2026, a new airline will offer non-stop trips to London every day. These routes matter because most global leasing requests already come from Britain and America. Starting in October 2026, Delta will link Riyadh to Atlanta. That route ties together Asia, Africa, and Europe all at once.
Around February 2026, construction at Mukaab came to a standstill due to new instructions. Speed and earnings now matter more than careful planning or lasting impact. Yet attention remains fixed on upcoming events (like the 2030 Expo) and then later extends to the 2034 World Cup. Even so, outside funding surged by one-quarter in early 2025.
As Riyadh moves through 2026, the RHQ boom has permanently altered the city’s DNA, creating a 0% tax environment within an emerging urban laboratory. “New Riyadh” stands as a sovereign command centre for the global economy, connecting African and Asian dynamism with European industrial expertise.