Office occupancy for both Grade A and B has remained firm at 98% in Riyadh for the past 5 years. Amid population growth rate at 4.1% in the city surpassing the 7 million mark, there are genuine concerns for the availability of offices for rental in Riyadh. With the five-year rent-freeze in place, Riyadh has seen exponential growth in new entrants, especially multinational companies. In 2025 the licenses for international companies reached 660 in total with 10 to 12 licenses issued every month.
In terms of the completed deals, new entrants’ activity increased by 43% for prime offices with 80% demanding for larger floorplates. Policy and regulatory reforms have contributed to a 5.2% in non-oil sector expansion. The real estate has been a driving force in this space with 900,000 sqm of Grade A offices delivered in 2026.
In this article, we answer the question, Are offices available for rent in Riyadh? Riyadh’s office market is nearing 98% occupancy. Let’s explore the current supply, demand drivers, and new developments shaping the market.
Availability of Offices for Rental in Riyadh
The office market in Riyadh has become one of the most competitive in the region. Demand for quality workspace has grown rapidly in recent years. Reports indicate that prime office occupancy has reached nearly 98 percent. This figure raises a simple question for investors and businesses. Are offices still available for rent in Riyadh?
The short answer is, yes. Offices are still available. However, the market has become tighter and more selective. Companies now compete for high quality spaces. This shift reflects the city’s economic growth and its transformation under Saudi Vision 2030.
Why Office Demand is Rising
Riyadh has positioned itself as the main business hub of Saudi Arabia. The government has encouraged multinational firms to establish regional headquarters in the capital. Many global companies have responded to this initiative. As a result, demand for premium office space has surged.
Large infrastructure and development programs also play a role. Projects like King Abdullah Financial District are expanding the city’s business landscape. These projects attract banks, technology firms, and consulting companies.
Another factor is the relocation of regional headquarters to Riyadh. The government announced policies encouraging foreign companies working with the public sector to base their regional operations in the city. This move has increased demand for Grade A office spaces.
The result is a strong and competitive office market. High occupancy rates now reflect the growing confidence in Riyadh’s economy.
Also Read: Office Vacancy in Riyadh
Understanding the 98% Occupancy Rate
A 98 percent occupancy rate does not mean the market has no space left. Instead, it indicates that most prime office buildings are already leased. Many of the remaining spaces are either smaller units or located in secondary buildings.
Prime districts often experience the tightest supply. Areas such as Olaya District remain highly sought after. Businesses prefer these locations because of their connectivity and prestige.
In such areas, office space becomes available when tenants relocate or when companies expand and move to larger buildings. These changes create occasional openings in the market.
Therefore, offices are still available for rent. The challenge lies in securing the right location and quality.
New Developments Expanding Supply
Developers are responding to the strong demand by launching new office projects. Several mixed-use developments are under construction across Riyadh. These projects aim to increase the supply of modern workspaces.
One major project contributing to future supply is New Murabba. The development is expected to introduce large commercial zones, including office towers.
Other business districts are also expanding their office capacity. New buildings are being designed to meet international standards. Flexible layouts, smart technology, and sustainability features are becoming common.
These developments will gradually ease the supply pressure in the market. However, many projects will take several years to complete.
What Businesses Should Expect
Companies searching for offices in Riyadh should prepare for a competitive market. Prime locations tend to lease quickly. Early planning is therefore essential.
Many businesses now work with property consultants to secure office space before it enters the open market. Pre-leasing agreements are also becoming more common. These agreements allow companies to reserve space in buildings that are still under construction.
Another strategy is to explore emerging districts outside the traditional business centers. These areas may offer more availability and competitive pricing.
Overall, businesses can still find suitable offices in Riyadh. The key is flexibility in location and timing.
In sum…
The 98 percent occupancy rate highlights the strength of Riyadh’s office market. Demand from multinational firms, local companies, and government initiatives continues to push the sector forward. While prime buildings are nearly full, office spaces are still available for rent across the city.
New developments and expanding business districts will add more supply in the coming years. Until then, the market will remain competitive and dynamic. For investors and businesses alike, this tight supply is a sign of a thriving commercial environment in Riyadh.