EY (Ernst & Young), one of the world’s leading professional services firms, is set to open its new regional headquarters for the Middle East and North Africa (MENA) region in Riyadh, Saudi Arabia. The new headquarters will be located in the prestigious King Abdullah Financial District (KAFD) and is expected to open later this year. This move aligns with Saudi Arabia’s Vision 2030 initiative, which aims to diversify the economy and promote the Kingdom as a global business hub.
EY’s decision to establish its MENA regional headquarters in Riyadh is a strategic move that underscores the firm’s commitment to the region. The new headquarters will span 11,691 square meters and will feature state-of-the-art facilities designed to foster innovation and collaboration. This includes the introduction of the Riyadh EY Wavespace Center, a hub for thought leaders, entrepreneurs, and clients to collaborate on cutting-edge technologies such as artificial intelligence, blockchain, and advanced analytics.
The King Abdullah Financial District (KAFD) is an ideal location for EY’s new headquarters, offering a modern and dynamic environment that aligns with the firm’s vision for the future. The district is home to numerous multinational companies and is a key component of Saudi Arabia’s efforts to attract foreign investment and create a vibrant business ecosystem.
EY’s new headquarters will oversee 8,000 employees across 15 countries, further solidifying the firm’s presence in the MENA region. This move is expected to enhance EY’s ability to deliver high-quality services to its clients and support the Kingdom’s economic development goals.
Commitment to Local Talent
One of the key aspects of EY’s new headquarters is its focus on local talent development. Over 55% of EY’s employees in Saudi Arabia are Saudi nationals, and the firm has hired nearly 1,000 Saudis in the past year alone. This includes university graduates who are part of EY’s accelerated graduate and leadership programs across various service lines such as Assurance, Consulting, Tax, and Strategy and Transactions.
EY’s commitment to local talent is further demonstrated through its Falcon Program, which fast-tracks the career journey of high-performing GCC nationals. Currently, 68% of the program’s participants are Saudis, and many are on the path to partnership within the organization. This focus on nurturing local talent aligns with Saudi Arabia’s Vision 2030, which emphasizes the importance of empowering the youth and developing a skilled workforce.
The new headquarters will also feature comfort spaces and smart technology designed to enhance employee well-being and productivity. This people-centric approach is a testament to EY’s dedication to creating a supportive and innovative work environment for its employees.
Driving Innovation and Economic Growth
The establishment of EY’s new regional headquarters in Riyadh is expected to drive innovation and economic growth in the region. The Riyadh EY Wavespace Center will play a crucial role in this, providing a collaborative environment for clients, EY teams, and other stakeholders to explore new ideas and develop innovative solutions. This center will be part of EY’s global network of Wavespace centers, which are designed to help organizations navigate the complexities of the digital age.
EY’s presence in Riyadh will also contribute to the Kingdom’s efforts to diversify its economy and reduce its dependence on oil. By attracting top talent and fostering a culture of innovation, EY is helping to create a more resilient and sustainable economy. This move is in line with Saudi Arabia’s Vision 2030, which aims to position the Kingdom as a leading global business hub.
In addition to its focus on innovation, EY is committed to giving back to the local community. The firm has implemented various programs focused on entrepreneurs, education, and youth empowerment. These initiatives are designed to support the development of the next generation of leaders and contribute to the overall growth and prosperity of the region.
