Olaya is a trophy-tier Class A submarket of Riyadh with average asking rent around SAR 2,300/sqm/yr · ≈ $57.1 PSF/yr USD.
Established trophy and luxury core. · Tier: trophy · Avg rent: SAR 2,300/sqm/yr · ≈ $57.1 PSF/yr USD
Olaya anchors Riyadh's established trophy core — Kingdom Centre, Al Faisaliah Center, Headquarters Business Park, and the deepest luxury hospitality and HQ concentration.
Banking, family offices, multinational HQs, luxury hospitality, retail HQs.
15–40,000 sqft floor plates available across newer Class A stock; 9'+ slab-to-slab and modern MEP common.
Olaya Street (Metro Line 1, Line 6).
Multi-modal transit captures the metro's principal professional catchment.
Kingdom Mall, Hayat Mall, Faisaliah Center.
Olaya is one of 5 Class A submarkets we cover in Riyadh, classified as trophy tier with an average asking rent around SAR 2,300/sqm/yr · ≈ $57.1 PSF/yr USD. Compared with the broader Riyadh Class A stock, Olaya typically attracts Banking, family offices, multinational HQs, luxury hospitality, retail HQs and competes most directly with the city's other trophy submarkets on building specification, transit access, and amenitisation.
Adjacent submarkets to study alongside Olaya: KAFD (King Abdullah Financial District), King Fahd Road, Diplomatic Quarter, Airport Corridor (KKIA). The full Riyadh submarket atlas is at /cities/riyadh.
For an institutional Class A occupier evaluating Olaya, the highest-leverage analyses to commission next are the rent benchmark, the concession-package comparable, and the ESG performance baseline. Class A Atlas covers each as a dedicated topic page for this submarket:
Terminology specific to Riyadh Class A leasing and to the trophy tier: Class A, Trophy asset, Effective rent, Concession package, TI allowance, Submarket tier.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.