News report By Khaled Al-Shammari RIYADH, Feb 17 (KUNA) - Saudi Arabia's Capital City, Riyadh, is moving rapidly to position itself as a leading regional and international hub in the Middle East, driven by the initiatives of Saudi Vision 2030, which aims to make the capital one of the world's 10 largest city economies.
In 2021, Saudi Arabia launched a national program to attract regional headquarters of multinational companies, with the objective of securing the largest share of such headquarters in the Middle East and North Africa region by drawing 500 regional headquarters to Riyadh by 2030.
At the beginning of 2026, the Saudi Cabinet, chaired by Crown Prince and Prime Minister Mohammed bin Salman, announced that the program had surpassed its initial target, with more than 700 international companies establishing regional headquarters in the Kingdom to date.
This achievement reflects the rapid development of infrastructure, advanced digital services and an improved business environment, underscoring the attractiveness of the Saudi economy and its ability to draw global investment, supported by structural reforms, future growth prospects and expanded investment opportunities.
Riyadh has undergone a structural transformation through major infrastructure projects, transitioning from traditional urban expansion to integrated planning based on sustainability, operational efficiency and enhanced regional and international competitiveness.
Estimates indicate that Riyadh serves as the engine of the national economy, contributing around 47 percent of Saudi Arabia's non-oil, non-government gross domestic product.
Until 2016, the capital experienced urban expansion that faced several challenges, including heavy traffic congestion on main roads, the absence of a comprehensive public transport network and limited green spaces relative to rapid population growth.
With the launch of Vision 2030, a comprehensive rebuilding phase of infrastructure began based on long-term strategic foundations. The Riyadh Metro project was implemented with a six-line network covering most districts of the capital, supported by the Riyadh Bus project and the development of ring roads, bridges and tunnels.
These projects have enhanced mobility efficiency, reduced travel times and strengthened connectivity between residential, commercial and financial centers.
In parallel with transport development, Riyadh witnessed the launch of major urban and environmental projects, most notably King Salman Park, Sports Boulevard and Green Riyadh, in addition to the development of Diriyah Gate and King Abdullah Financial District.
These projects have become key pillars reshaping the economic landscape, improving quality of life and reinforcing the concept of a sustainable city.
In this context, economic analyst Osama bin Abdullah told KUNA that the transformation in Riyadh reflects the direct impact of systematic investment in infrastructure aligned with Vision 2030 objectives.
He noted that cities with integrated transport networks and modern urban facilities are best positioned to attract investment and stimulate economic growth, adding that the development of public transport has reduced economic losses associated with congestion and energy consumption, boosting the city's productivity.
Modern infrastructure, he said, has also laid the foundation for emerging sectors and strengthened the non-oil economy.
For his part, economic analyst Ahmed Al-Khalaf said in a similar statement to KUNA that Riyadh has become one of the region's foremost business destinations thanks to these projects, noting that the completion of advanced infrastructure elements has granted the capital a clear competitive advantage over other regional cities.
He added that the next phase will witness growing economic returns as integration between public transport networks and commercial, residential and industrial areas is completed.
Al-Khalaf stressed what has been achieved is no longer mere urban development but a strategic transformation repositioning Riyadh on the regional and global economic map.
Intensive infrastructure investment under Vision 2030 has therefore gone beyond service improvement, directly consolidating Riyadh's standing as a regional and international hub for business and investment and as an advanced urban base for sustainable growth.
Saudi Arabia's strategy to develop Riyadh forms part of broader plans to diversify income sources and expand the economy, with the ambition of placing the capital among the world's 10 largest city economies.
The strategy is grounded in the premise that around 85 percent of global economic output originates from cities, with projections suggesting that this figure could rise to 95 percent in the coming years. (end) kns.tma.seo