Riyadh is set to become one of the top 15 fastest-growing cities by 2033, driven by a remarkable 26% increase in population and significant government investments in infrastructure!

According to the Savills Growth Hubs Index, Riyadh stands out as the only non-Asian city on this prestigious list. This projection aligns with Saudi Arabia’s Vision 2030 program, which aims to transform Riyadh into a vibrant residential and business center, diversifying the economy away from oil dependency.

The anticipated population surge in Riyadh is staggering, expected to grow from 5.9 million to 9.2 million over the next decade. This rapid growth is not just about numbers but also about improving the quality of life and expanding services and amenities to accommodate this boom. The city’s infrastructure is evolving at a fast pace, with new developments and projects popping up, making Riyadh a hotspot for both residents and businesses.

One of the key drivers of Riyadh’s growth is the burgeoning office market, fueled by the influx of regional headquarters!

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In the first quarter alone, there was a 477% year-on-year increase in international firms relocating their regional bases to Saudi Arabia. The government’s introduction of incentives, such as a 30-year corporate tax exemption for regional headquarters, has been a major draw for multinational companies. Additionally, the growth in tourism is boosting the retail sector, especially near popular tourist sites, making Riyadh a bustling hub of activity.

The hosting of EXPO 2030 will further highlights Riyadh’s growth potential!

Riyadh’s successful bid to host EXPO 2030 further highlights Saudi Arabia’s commitment to sustainable economic and social development. This event is set to enhance the city’s global stature as a center for business, tourism, and innovation. According to Henley and Partners, Riyadh and Jeddah are expected to attract over 300 millionaires in 2024 as well!

As Riyadh continues to grow and thrive, it’s clear that the city is on a path to becoming a major global player.