Major urban developments and new infrastructure are reshaping Riyadh as it strengthens its position as a regional hub for investment, tourism, and economic activities.

The capital is expanding the economic infrastructure needed to support its growth with Riyadh Holding Company, the investment and executive arm of Riyadh Municipality, launching Marafid to develop and enable projects across logistics and mobility, industrial clusters, and the circular economy.

The capital is also attracting global companies with France’s BNP Paribas becoming the latest global financial institution to establish a regional headquarters in Saudi Arabia under the Regional Headquarters (RHQ) Program launched in 2021.

More than 750 companies have now joined the programme, well ahead of the country’s target of 500 companies by 2030. The overarching Riyadh Strategy targets the city’s population growing to 15-20 million and its economy expanding to ⃁ 650 billion by 2030, positioning it among the world’s top 10 metropolises by economic output.

The growing number of companies establishing regional headquarters in Saudi Arabia reflects the rising confidence in its economy and investment environment.

Meanwhile, the Diriyah Development Project in the capital has brought in a ⃁ 2.7 billion investment. The developer announced it will deliver five luxury hotels and three residential assets in Diriyah Square, adding 413 hotel rooms and 34 branded residential units.

The projects form part of the ⃁ 237 billion Diriyah development, which aims to attract 50 million visitors annually and accommodate 100,000 residents once complete. With nearly 34 luxury hotel brands planned across the Diriyah and Wadi Safar masterplans, the development will transform the historic district into a major destination for hospitality, retail, dining, and entertainment.