Wednesday 10 October 2012

Saudi Arabia: Office space glut in prospect - FT.com

Saudi Arabia’s King Abdullah Financial District is being built to reflect the size of the country’s economy, which dwarves all others in the Arab world. But unlike its Gulf neighbours that are desperate to attract foreign institutions to their capitals, Riyadh just needed more high-grade office space.
The financial district, still under construction, looms on the outskirts of the capital, Riyadh, which is a sprawling low-rise city that grew faster than the government’s planners had time to anticipate. Basic infrastructure remains poor, jamming the streets with traffic as workers commute to the centre.

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