Saudi Arabia evacuates Riyadh s key financial hub amid Iran threat

Saudi Arabia has instructed businesses to evacuate the main financial center in Riyadh due to worries about possible missile and drone attacks from Iran. This decision highlights the rising tensions in the region, as reported by Semafor. On April 2, companies received orders to keep their employees away from the King Abdullah Financial District (KAFD), and these orders are expected to last until at least April 6, according to sources familiar with the situation. This directive impacts significant office buildings that host global financial firms and the nation's sovereign wealth fund. This evacuation is one of the clearest signs that Saudi Arabia is struggling to maintain normal business operations as threats from Iran continue. KAFD is home to well-known companies like Goldman Sachs and Deloitte, and it plays a crucial role in Riyadh’s ambition to become a global financial center. Residents living in KAFD's residential towers have been advised to stay indoors, although officials have not made any public comments about the situation. The Wall Street Journal noted that evacuation measures also apply to other important commercial locations, such as Al Faisaliah Tower, which contains offices for major international companies. Some businesses have reportedly received informal advice to keep their staff away from the financial district for several weeks, indicating a need for ongoing caution due to security concerns. While Riyadh has not faced attacks as severe as those in cities like Abu Dhabi, Doha, and Dubai, everyday life is still filled with uncertainty. Traffic is still heavy, but many companies have moved to remote work, and some schools have switched to online classes. The main airport in the city remains open, serving as a key point for people leaving the area. However, Riyadh has experienced some attacks linked to Iran, including a strike near the US embassy and missile attacks during a diplomatic meeting in March. These events present new challenges for Saudi Arabia as it seeks to attract multinational businesses to set up their regional headquarters in Riyadh, a strategy supported by both incentives and government contracting rules.