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, thus marking the company’s first centre in Saudi Arabia. 

With this opening, 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, said the statement from KAFD.

The opening highlights KAFD’s growing stature as a dynamic business hub in the region and a leading destination for entrepreneurs and professionals. 

Spanning 36,500 sqft, TEC’s coworking space represents the future of flexible work environments in the kingdom, as well as demonstrating the Asian group’s long-term commitment to Saudi Arabia and its support for the kingdom’s economic transformation under Vision 2030, it stated. 

Located within a premium Grade A building at the heart of KAFD, the centre 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, it said.

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

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," he stated.

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.