RIYADH: The King Abdullah Financial District (KAFD) is too big for the local market, and will cause a glut in office space and accommodations once it becomes operational and tenants start moving in.
“In fact, some of the buildings at the northern portion of the $11.6 billion financial district have been canceled,” said a source working for one of the companies involved in the project.
He said that this is expected because many of the 112 multi-storey buildings that have been constructed were not part of the original plan.
A foreign magazine earlier critisized the project, saying that KAFD is a “sober alternative to Dubai’s exuberant international financial center.”
But oversupply in office space and accommodation is not the only problem facing the sprawling project which is located in a 1.6 million sq. meter area in the northern part of the Saudi capital.
“The rent is also exorbitant. This is probably because of the huge capital that has been invested to develop and construct the project,” said the general manager of a construction and landscaping firm.
He added that the rent per sq. meter is estimated at SR3,000 to SR4,000, “which is quite high for many local firms which are interested to have their offices at KAFD.”
Because of the high rent, the rent outside the financial district has also doubled.
But despite the exorbitant cost, there are companies which intend to establish their head offices inside the financial district. For this purpose, the head of an investment bank in the UAE visited the Saudi capital sometime back.
“If you’re not inside the financial district, you’ll be left behind by the competitors who are already established in the market. They will likely move in at the opportune time,” he added.
KAFD may cause office space glut
KAFD may cause office space glut
National program identifies 165 native plants for afforestation efforts in Asir
- The survey is part of broader plans focused on restoring degraded land, using native vegetation
JEDDAH: Saudi Arabia’s National Afforestation Program has identified more than 165 species of native plants suitable for afforestation in the Asir region, highlighting the ecological diversity of one of the Kingdom’s most environmentally varied areas, the Saudi Press Agency reported.
The findings form part of broader national efforts to expand vegetation cover, address land degradation, and support sustainability goals linked to the Saudi Green Initiative and Vision 2030.
According to the program, the identified species are distributed across a wide range of natural environments in Asir, including mountainous terrain, highlands, slopes, valleys, plains, rocky landscapes, and coastal areas stretching from the Red Sea to Tihama.
The species belong to numerous plant families, including Fabaceae, Anacardiaceae, Burseraceae, Capparaceae, Ebenaceae, Euphorbiaceae, Malvaceae, Myrtaceae, Oleaceae, and Primulaceae, among others.
Plants suitable for afforestation range from large and small trees to perennial and annual shrubs, herbs, succulents, bulbs, and climbing plants.
Among the most notable species identified are the grey mangrove, mastic tree, mooring or ben tree, juniper, sycamore fig, wild olive, henna, wild jasmine, hawthorn, and arak.
The Saudi Arabian Botanical Society described the announcement as an important step in protecting plant diversity and strengthening the ecosystem conservation in the Kingdom.
Munirah bin Hamad Al-Hazani, founder and president of the society, said that prioritizing native species is central to sustainable afforestation.
“Focusing on the cultivation of native plants adapted to diverse environments forms the cornerstone of sustainable afforestation projects, as it plays a pivotal role in enhancing vegetation cover, combating land degradation, and conserving natural and financial resources,” she told Arab News.
Al-Hazani added that long-term success depends on cooperation between government bodies and the nonprofit sector, alongside community involvement and environmental awareness programs.
The National Afforestation Program has increasingly emphasized community participation, working with government agencies, private companies, and nonprofit organizations to support planting initiatives and environmental education. Its approach includes promoting volunteerism and discouraging harmful environmental practices, while focusing on the use of native plants adapted to local conditions.
Parallel efforts are underway in other regions of the Kingdom to support vegetation restoration through research and infrastructure development. In Jouf, often referred to as the Kingdom’s food basket, the King Salman bin Abdulaziz Royal Reserve Development Authority has established a Central Nursery and a Wild Seeds Research and Production Station to address the growing demand for reliable sources of native seeds and seedlings.
The project was launched in 2023 under the directive of Prince Abdulaziz bin Saud bin Naif, the minister of interior and chairman of the authority’s board of directors.
Since then, the facilities has become a key component of vegetation restoration efforts within the reserve.
The authority has focused on building operational capacity by recruiting and training specialists to manage cultivation and research activities. The research and production station includes 14 mother-seed production fields containing over 400,000 trees and shrubs.
Planting began in late 2024, with more than 30 native plant species represented, selected for their role in the reserve’s natural ecosystem.
The facility also includes two seed storage units with a combined capacity of 3,000 kilograms. Seeds are collected annually from multiple sites within the reserve and used for seedling production habitat rehabilitation.
The Central Nursery spans 6,000 square meters and includes 30 greenhouses spanning 1,500 square meters, as well as two shade houses used during summer months. A plant hardening facility, designed to prepare seedlings for natural environmental conditions, covers 10,000 square meters and is divided into seven sections. The nursery’s annual production capacity reaches 1.5 million seedlings, representing more than 15 native plant species.
Together, these initiatives underscore the growing role of native plant research and propagation in Saudi Arabia’s afforestation strategy, particularly as the Kingdom works to balance environmental restoration with long-term sustainability goals.
