Riyadh now home to 44 regional HQs of global firms, reveals city’s ‘attraction’ czar

Riyadh is now home to the regional headquarters of 44 multinational companies — an increase of 20 since a drive was launched in January to attract more firms to Saudi Arabia’s capital city.

Hosam Alqurashi, director of the Regional Headquarters (RHQ) Program, made the announcement at the Future Investment Initiative Forum in Riyadh, as he claimed the city is “witnessing the greatest art movement since the Renaissance”.

The RHQ Attraction Program was put into action at the beginning of the year, and its ultimate aim is to tempt 480 global companies to make Riyadh its home in the region.

Some 24 companies signed up initially, and that figure has now ballooned to 44.

“Riyadh is changing every single minute,” said Alqurashi, adding: “If you had come to Riyadh three months ago you wouldn’t recognize the city today.”