Riyadh — King Abdullah Financial District (KAFD), Riyadh’s premier business and lifestyle destination, has announced the opening of The Executive Centre (TEC), Asia’s leading premium flexible workspace provider, marking the company’s first center in Saudi Arabia. With the opening of TEC, KAFD now offers world-class workspaces that serve not only multinational companies but also freelancers, entrepreneurs, and professionals seeking flexible coworking solutions, further strengthening the district’s position as a hub for business and talent across the Kingdom and the wider region.

The opening highlights KAFD’s growing stature as a dynamic business hub in the region and a leading destination for entrepreneurs and professionals. Spanning approximately 36,500 sqft, TEC’s coworking space at KAFD represents the future of flexible work environments in the Kingdom, as well as demonstrating TEC’s long-term commitment to Saudi Arabia and its support for the Kingdom’s economic transformation under Vision 2030. Located within a premium Grade A building at the heart of KAFD, the center features private offices, coworking lounges, meeting and event spaces, private phone booths, and a full-service food and beverage offering, all designed within a sophisticated, tech-enabled environment. TEC’s modular design philosophy allows each office to be tailored to a client’s specific business requirements, combining the structure of a traditional office with the agility of a new-age workspace.

TEC Group’s portfolio (which includes their operations) have 215 operational centers across 35 cities in 14 markets.

Sultan Alobaida, Chief Commercial Officer at KAFD DMC, said: “The global coworking spaces market is undergoing remarkable growth, and is predicted to reach approximately $48 billion by 2030, as businesses increasingly seek flexible workspace solutions that support collaboration and agility. This growth is mirrored in Saudi Arabia, where the number of coworking spaces has grown from approximately 40 in 2018 to 251 by December 2024, with the highest concentration in Riyadh. We are excited to welcome TEC to KAFD. Its innovative workspaces will complement our vibrant community of over 140 companies by offering flexible options for entrepreneurs and independent professionals. It also underscores our commitment to supporting Vision 2030 by driving economic diversification, fostering innovation, and creating the conditions for businesses of all sizes to thrive.”

KAFD continues to attract a diverse mix of businesses, from multinational companies to startups and freelancers seeking flexible, high-quality workspaces. The district’s integrated design, premium amenities, and vibrant professional community provide opportunities for collaboration and connection across industries. Home to more than 140 office tenants and 19 regional headquarters, KAFD combines scale with accessibility, offering organizations and individuals alike a platform to grow and engage.

About KAFD

Situated in the Saudi capital, Riyadh, KAFD is an iconic destination that merges the worlds of business and lifestyle in a digitally integrated and sustainable ecosystem, transforming the way contemporary communities live, work, and play. The destination is owned and managed by King Abdullah Financial District Development and Management Company (KAFD DMC), which was established in 2018 and is a PIF Company.

With a vision to build a dynamic city of tomorrow, the Kingdom’s first vertical city solution, spanning 1.6 million square meters with 95 buildings designed by 25 world-leading architectural firms, has not only shaped the skyline of Riyadh but also transformed the city's economic landscape and redefined the essence of urban living. It is the world’s largest LEED platinum-certified business and lifestyle district, epitomizing Saudi Arabia’s vision for economic diversification, quality of life, and sustainable development.

For further details about KAFD, please visit www.kafd.sa  

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