Quality Saudi office space tough to find as firms flock to Riyadh

Saudi Arabia’s pressure on international companies to establish their regional headquarters in the kingdom has been so successful, it has eaten up virtually all the top commercial real estate in Riyadh.

Prime and Grade A office spaces are fully occupied while Grade B occupancy has hit 99.4%, according to a survey by international property firm CRBE cited by Daily News Egypt.

Jeddah and the Eastern Province cities of Dammam and Khobar have also recorded rental growth and increased occupancy rates.

“The lack of available quality stock is somewhat hampering the potential of the market,” said CRBE’s Taimur Khan, Head of MENA Research.

UAE’s Agthia opens $24.5 million meat plant in Saudi Arabia

Abu Dhabi food and beverage group Agthia has opened a meat processing facility in Jeddah, Saudi Arabia’s second-largest city, as the kingdom looks to feed its growing population and the broader region pushes for greater food security.

The $24.5 million factory, located in Jeddah’s Industrial City 1, spans 9,000 square meters and is expected to produce over 9,000 tons of processed proteins – enough to export to more than 25 countries.

Agthia, which is owned by Abu Dhabi sovereign wealth fund ADQ, is in the midst of a five-year growth strategy in its push to become one of the region’s top food and beverage companies