JLL to spearhead leasing strategy and execution for the new Grade A commercial development, a key component of the city’s northward urban expansion under the Vision 2030 agenda
JLL, a leading global professional services firm specialising in real estate and investment management, has been appointed as the exclusive leasing agent for Al Bustan Business Park, a new Grade A commercial development by Olayan Financing Company.
Located in Northern Riyadh’s bustling business district, this dynamic mixed-use hub is strategically designed to stimulate economic growth, foster collaboration, and elevate urban living, aligning with Saudi Arabia’s Vision 2030 goals for integrated, sustainable, and technologically advanced urban development. The project is a key component of the city’s northward urban expansion, benefitting from enhanced infrastructure as part of Riyadh’s strategic growth plan.
Al Bustan Business Park offers occupiers several compelling advantages, as the prestigious business address enhances the corporate image and brand positioning of companies. The concentration of high-quality developments also fosters a robust business ecosystem conducive to networking, strategic partnerships, and top-tier talent attraction.
As the exclusive leasing agent, JLL will deliver strategic market expertise for the project’s leasing strategy and execution, in addition to leveraging its deep market knowledge and proven capability in commercial real estate to provide in-depth market analysis, plan tenant mix, and lead the successful completion of leasing agreements. The partnership with Olayan Financing Company also reinforces a long-standing relationship that has previously spanned various business lines across the UK and the USA.
Dana Williamson, Head of Offices, Business Space & Retail, MEA at JLL, said: “Al Bustan Business Park, positioned in one of the Saudi capital’s most distinguished business addresses, benefits from the flight-to-quality trend. The combination of flexible, high-quality spaces in a highly sought-after location offering unparalleled accessibility and connectivity across Riyadh is attracting significant interest amongst leading businesses and multinational tenants. Our partnership with Olayan Financing Company reinforces our commitment to driving Saudi Arabia’s transformation and modernization under the framework of Vision 2030’s goals.”
Designed to meet the demands of modern businesses, Al Bustan Business Park comprises six office buildings, with one designated as Olayan’s new headquarters, alongside two dedicated F&B buildings. The development offers approximately 35,000 sqm of Grade A office GLA, with typical office floor plans ranging from 1,000 to 2,000 sqm, providing exceptional flexibility for tenants to design and optimize their workspace layouts. This extensive footprint is complemented by two basement floors of parking, with an outstanding parking ratio, addressing a key need for businesses and their employees
On track for LEED (Leadership in Energy and Environmental Design) Gold certification, Al Bustan Business Park integrates state-of-the-art architectural design with a commitment to sustainability and is scheduled for completion in Q2 2027.
