BNP Paribas relocates its Saudi Arabia offices to KAFD

BNP Paribas Group, one of the first international banks licensed by the Saudi Central Bank, sought a prime location in Riyadh to strategically position itself for accelerated expansion in the Middle East. This move was essential for enhancing their service capabilities and capitalising on the region's high growth potential, aligning perfectly with their ambitious market development strategy.

As representatives for BNP Paribas Group, our tenant representation team conducted a detailed stay-vs-go analysis to determine their optimal real estate strategy. Our findings led us to secure a prime office space in King Abdullah Financial District (KAFD) which is aligned with their ambitious growth trajectory and provides the conducive environment essential for their objectives.

We then provided design solutions to create a new workplace crafted to maximise employee productivity while embodying BNP Paribas' global standards of excellence. This was followed by project management and cost management services to execute the design vision from planning to fit out and handover.

Spanning 885sqm, the new office seamlessly blends enclosed private spaces with open-plan flexi workspace tailored to each department's needs, while a centrally positioned communal area fosters collaboration and cross-team interaction. The reception creates a warm, inviting atmosphere that welcomes both visitors and employees.

Design elements thoughtfully incorporate the BNP Paribas brand while showcasing local artwork throughout the workplace. Biophilic design principles, such as a neutral color palette, abundant natural light, and greenery, are used to enhance the environment, promoting employee well-being and creating an inspiring atmosphere.

Despite navigating complex design requirements and multiple project hurdles, the project was successfully delivered to our client’s goals. Our project management team's deep knowledge of KAFD's policies and regulations, thorough understanding of BNP Paribas' requirements, meticulous attention to detail, and skilled stakeholder management facilitated smooth project delivery. Extensive value engineering was also applied by our cost management team to optimise project outcomes and cost efficiency.

Moreover, significant cost savings were achieved by our tenant representation team. By leveraging their extensive market knowledge and strategic connections, they negotiated a renewal of BNP Paribas' existing lease by providing the flexibility needed for their planned relocation to KAFD. While the KAFD transaction was expertly structured to deliver a competitive market deal while minimising any double-rent exposure between properties. Our team also negotiated valuable additions including prominent external façade signage rights, below-market base rent, a long-term lease with predetermined rent intervals, and dedicated backup power space.