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Discussions Underway for Transferring Regional HQs of Danish Food Companies to Saudi Arabia

Jorgen Christensen, CEO of the Danish Dairy Board, and Denmark's ambassador Ole Moesby at the launch of the Danish Organic Dairy program, at Panorama Mall, Riyadh, Asharq Al-Awsat
Jorgen Christensen, CEO of the Danish Dairy Board, and Denmark's ambassador Ole Moesby at the launch of the Danish Organic Dairy program, at Panorama Mall, Riyadh, Asharq Al-Awsat
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Discussions Underway for Transferring Regional HQs of Danish Food Companies to Saudi Arabia

Jorgen Christensen, CEO of the Danish Dairy Board, and Denmark's ambassador Ole Moesby at the launch of the Danish Organic Dairy program, at Panorama Mall, Riyadh, Asharq Al-Awsat
Jorgen Christensen, CEO of the Danish Dairy Board, and Denmark's ambassador Ole Moesby at the launch of the Danish Organic Dairy program, at Panorama Mall, Riyadh, Asharq Al-Awsat

Discussions are underway to transfer the regional headquarters of some Danish international companies to the Kingdom of Saudi Arabia, a senior Danish official revealed.

Speaking to Asharq Al-Awsat, Denmark’s Ambassador to Saudi Arabia Ole Moesby said that the Kingdom is one of the largest countries in the world that receives Danish exports in general.

At the same time, Saudi Arabia and Denmark share four partnerships that span key sectors like water, food, renewable energy, pharmaceuticals, and healthcare.

“Our products are witnessing a steady expansion and increase in the Saudi market,” Moesby told Asharq Al-Awsat.

The diplomat clarified that many international Danish companies, including water firms, intend to transfer their regional headquarters to Saudi Arabia.

According to Moesby, these companies will soon start their business in terms of manufacturing and exporting Danish products to the Kingdom. Also, they will start distribution work to export from the Kingdom’s land regionally and globally.

“We have a historic relationship with Saudi Arabia that extends for more than four decades... We are currently trying to keep pace with development and change in Saudi Arabia,” said Moesby, pointing out that Danish projects in the Kingdom will continue in the long-term.

The business delegation currently visiting Saudi Arabia will work to discuss new opportunities, revealed the diplomat.

In addition to exchanging expertise regarding the production and industry of organic food, the delegation will review ways of enhancing the participation of Danish companies in environmental and renewable energy sectors in the Saudi market.

According to Moesby, the market share of organic products in Denmark is the largest in the world and is growing annually.

In other news, the Danish embassy, with the cooperation of the Danish Dairy Board and the Danish Veterinary and Food Administration, launched a three-year program in Saudi Arabia to improve nutrition and public health in the Kingdom.

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Projects, Agreements Exceeding $48 Billion Expected at Cityscape Global in Riyadh

National Housing Company (NHC) CEO Mohammed Al-Buty speaks at Cityscape Global. (Asharq Al-Awsat)
National Housing Company (NHC) CEO Mohammed Al-Buty speaks at Cityscape Global. (Asharq Al-Awsat)
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Projects, Agreements Exceeding $48 Billion Expected at Cityscape Global in Riyadh

National Housing Company (NHC) CEO Mohammed Al-Buty speaks at Cityscape Global. (Asharq Al-Awsat)
National Housing Company (NHC) CEO Mohammed Al-Buty speaks at Cityscape Global. (Asharq Al-Awsat)

Saudi Arabia’s real estate sector is experiencing a surge in growth, marked by record-breaking deals expected at the second annual Cityscape Global 2024, the world’s largest real estate exhibition.

Deals at this year’s event, held in Riyadh, are anticipated to exceed SAR 180 billion ($48 billion), representing an increase of over 50% compared to the previous edition.

According to Majid Al-Hogail, Saudi Arabia’s Minister of Municipal and Rural Affairs and Housing, real estate deals in the Kingdom have reached SAR 630 billion ($168 billion) since the beginning of the year, supporting national economic growth and diversification.

Cityscape, held at the Riyadh Exhibition and Convention Center, showcases Saudi Arabia’s ongoing real estate development and serves as a central platform for innovation and investment. The event is supported by the Ministry of Municipal and Rural Affairs and Housing, the General Real Estate Authority, and the Housing Program, a key initiative under Saudi Arabia’s Vision 2030.

The number of participants doubled from last year, with over 100 local and 69 international developers taking part, underscoring the strength and global confidence in Saudi Arabia’s real estate market.

Al-Hogail highlighted that Saudi banks have significantly increased real estate financing from SAR 200 billion ($53.3 billion) in 2018 to SAR 800 billion ($213.3 billion) this year, with the market projected to reach SAR 1.3 trillion ($346 billion) by 2030. The Saudi Real Estate Refinance Company has also supported this growth, providing over SAR 37 billion ($9.8 billion) in mortgage refinancing.

In line with this expansion, the Kingdom has seen a rise in homeownership rates, which reached 63.7% at the end of 2023. Over 20 new regulatory measures have been implemented to streamline the market, and more than 60,000 real estate broker licenses have been issued.

Al-Hogail noted that the real estate sector plays a critical role, impacting over 60 economic sectors and positioning Saudi Arabia as a global hub for urban development and sustainable cities of the future.

Supporting these objectives, Cityscape hosted 400 exhibitors from 50 countries and over 100 investors, with an agenda aligned with Vision 2030’s pillars: increasing supply, expanding financing, modernizing regulations, and adopting advanced technology.

The National Housing Company (NHC), represented by CEO Mohammed Al-Buty, unveiled a new brand identity at the event, symbolizing its commitment to creating integrated urban communities that elevate quality of life.

Al-Buty emphasized the company’s role in advancing infrastructure that aligns with Vision 2030’s sustainable development goals, aiming to build vibrant, livable environments with easy access to essential services, green spaces, and commercial areas.

Several significant agreements were also announced. The NHC signed deals worth over SAR 142 billion, while Retal pledged more than SAR 14 billion for four projects in Riyadh and Al Khobar. Mohammed Al-Habib Company revealed its “Enar” residential-commercial project, valued at SAR 5 billion, while Tilal committed SAR 6 billion to a mixed-use project in Al Khobar.

Caden announced a SAR 10 billion project to develop over one million square meters, and Mountain View earmarked SAR 1.2 billion to build 500 villas. Diriyah Gate Company also invested SAR 1 billion for luxury residential and hotel suites, in partnership with brands such as Ritz-Carlton and Raffles.

With the theme “Future of Living,” this year’s Cityscape Global highlights Saudi Arabia’s dynamic real estate sector and the nation’s commitment to transforming urban landscapes and meeting future lifestyle needs.