Riyadh vs Dubai: Saudi district gears up for foreign firms

Dangling off sun-dappled skyscrapers, construction workers put finishing touches to a long-delayed financial district in Riyadh that is taking centre stage as competition heats up with Dubai to attract foreign firms. The King Abdullah Financial District (KAFD), a multi-billion-dollar project announced in 2006, is gearing up to “launch” in the coming months, formally declaring it open for business, multiple sources told AFP. The mammoth development in the heart of Riyadh is preparing to capitalise on a government ultimatum to foreign firms — those seeking state contracts in the biggest Arab ec…

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