RIYADH: Saudi Arabia’s program to attract regional headquarters of international companies is producing results, with the King Abdullah Financial District Development & Management Co. signing up some big names in business.
Speaking to Arab News on the sidelines of the Future Investments Initiative, KAFD DMC CEO Gautam Sashittal confirmed that global real estate services firm Jones Lang LaSalle will be relocating its regional headquarters to the district.
The announcement came close on the heels of global professional services firm Deloitte planning to open a new regional headquarters in Riyadh to widen its presence in the Kingdom and the Middle East.
“Yesterday, we announced that Deloitte is moving their regional headquarters into KAFD and today, JLL is moving in,” said Sashittal.
Set in the heart of Riyadh, KAFD is one of the biggest financial districts in the Middle East and is also home to 1.6 million sq. meters of office, venues and retail spaces.
“We are seeing that momentum of multinational companies, ministries, government organizations, locally owned companies all coming into KAFD, creating a business ecosystem that feeds on itself,” he added.
Last month, the company became the first development in the Europe, Middle East and Africa region to secure SmartScore Neighbourhood pre-certification – a benchmark for intelligent systems at the district level.
The certification is a global standard for smart buildings and assesses the technology implementation in cybersecurity, governance, and building systems, as well as data sharing, landlord integration networks and tenant digital connectivity.
“Why do we need that certification? The reason for that is we are creating that smart district that uses AI (artificial intelligence) and data analytics to improve the experience of our customer base,” said Sashittal.
The company aims to create an ecosystem of smart city solutions to build a “cognitive city.”
He added: “That means you use the data, you analyze the data, and you use that to better the experience all the time.”
The city will employ smart parking that can be pre-reserved, face recognition and number plate identification to ensure safety and efficiency.
KAFD has also leaped into the sustainability space by introducing various technologies for eco-friendly cooling, water irrigation systems, and automated waste collection in its master plan.
“We have planted a lot of greenery in our public spaces, almost 5,000 trees last year. We want to recycle water and use the recycled water for all of our irrigation,” added Sachittal.
He said that the focus on sustainable practices in the city has allowed it to become the world’s largest district with neighborhood Leadership in Energy and Environmental Design Platinum certification. The community has over 40 towers with gold or silver rating.
LEED is the rating system used by the US Green Building Council to measure a building’s sustainability and resource efficiency.
