The Ultimate Guide to Finding Office Spaces in Saudi Arabia
Explore how to navigate the thriving office space market in Saudi Arabia with our in-depth guide. Learn about pricing, key business districts, and the best workspace options to support your company's growth in the Kingdom.
Saudi Arabia is highly regarded as one of the most business-friendly places, creating a myriad of market opportunities waiting to be tapped into by global innovators and high-growth companies. As predicted by the International Monetary Fund (IMF), the Kingdom is set to be the second-fastest-growing economy in the world.
Whether it is a small business or a corporation looking to make a presence felt in this dynamic global market, securing the right business office does not only provide easy access to a rapidly expanding consumer base but also a vast skilled talent pool.
Benefits of Establishing a Riyadh Office
- A mandatory factor for obtaining a commercial license.
- Nurturing mutually beneficial collaborations and partnerships.
- Exploring a window of business opportunities.
- Access to the Gulf’s largest consumer base.
Documents Required to Open New Branch Office in Saudi Arabia
- A copy of the certificate of incorporation.
- A copy of the Articles of Association and Memorandum of Association.
- A Power of Attorney (POA) that has to be attested by the Saudi consulate.
- A certain amount of fees.
Common Areas to Establish an Office in Saudi Arabia
As one of the largest financial and business centers, Saudi Arabia offers readily available locations to accommodate the increased influx of businesses. In addition to financial and business districts and industrial parks, the country boasts extensive office spaces ranging from private offices to flexible and serviced office spaces.
The Most Popular Business Districts in Riyadh:
King Abdullah Financial District (KAFD) is home to several financial institutions, multinational corporations and professional services providers.
Olaya District provides a range of workspaces to suit any company's needs, encompassing diverse office spaces ranging from high-rises and classic office buildings.
Al-Murabba is a large-scale mixed-use real estate development designed to combine Saudi traditional culture with modern facilities.
Riyadh Business Gate is widely known for its modern offices, luxurious hotels, and state-of-the-art conference facilities.
Al-Nakheel District boasts modern office spaces perfect for both young startups and seasoned businesses, nestled amidst its upscale residential and commercial
Top Factors to Consider Before Deciding on the Company Workspace:
Securing the ideal office space involves determining the business needs, the right location, and the facilities necessary to boost productivity, leading to higher satisfaction.
- Balancing the Budget With Business Needs
When deciding on a particular workspace, it is important to factor in business type, the size of the company, and whether this location provides enough room to accommodate staff, their offices, and equipment. Equally crucial is matching the new office spaces with the company's financial objectives and a workable budget that takes into account office-related expenses.
- Essential Facilities and Amenities
Amenities and facilities are important to enhance productivity and the employee and client experience; this can widely vary depending on the business needs. The most sought-after amenities include high-speed internet, onsite parking, meeting spaces, break areas, and designated waiting areas for clients or potential visitors.
- Finding the right location
Saudi Arabia offers a wide variety of business districts and areas with different benefits, Determining the location and accessibility needs of a staff translates to a better business outcome while making it easier to narrow down the focus on suitable office spaces within particular areas.
Pricing Guidelines for Acquiring Office Space in Saudi Arabia
Understanding the pricing and types of office spaces available is crucial for making an informed decision. Below is an indicative guide from AstroLabs experts shedding light on pricing, subject to diverse variables present in the market, such as; location, size, and facilities.
Shell and Core Office Space:
- Shell and core office spaces allow businesses to design and customize their offices according to their specific needs. This type of space typically comes with basic structural elements, leaving the interior finishing to the tenant.
- SAR 2,500 - 3,500 per sqm
- Minimum size: 50 sqm
- Average size available: 100-140 sqm, the most common size in the market as it allows for future team expansion
- This type of space typically comes with basic structural elements, leaving the interior finishing to the tenant.
Serviced Offices:
Service offices are fully furnished and equipped workspaces designed to provide a hassle-free experience for businesses. These spaces typically include all necessary utilities, furniture, reception services, and mail handling, allowing companies to focus on their core operations without worrying about office management.
- 3-4 people: SAR 10,000 - 15,000 per month
- 6-8 people: SAR 16,000 - 25,000 per month
Coworking Spaces:
Coworking spaces offer dynamic launchpads that offer cost-effective solutions for businesses looking to establish themselves in the Kingdom. These spaces provide a vibrant, collaborative atmosphere that is conducive to networking and innovation.
- SAR 1,000 - 1,500 per person per month
- The cost includes access to a desk, high-speed internet, shared meeting rooms, and communal areas.
Office Spaces provided by AstroLabs
As a business expansion platform for high-growth companies, AstroLabs’ string of co-working spaces has long been acting as the springboard for businesses entering the Kingdom. Building on this successful track record, the company recently launched private offices with varying sizes to help new entrants to the Kingdom get their base up in the heart of Riyadh. The move plays into Saudi Vision 2030, which aims to make Riyadh one of the 10 largest economic hubs in the world.
Establishing an office that aligns with business needs is crucial to ensuring long-term success for a company while paving the foundation for scalability and development in the Saudi thriving business landscape, considering the kingdom's assertive position as the epicenter for businesses.
