London ($121/sqft, 8.6% vacancy) and Riyadh ($587/sqft, 4.6% vacancy) compete on different axes: London on talent depth and Riyadh on rent and tax.
London ($121/sqft, 8.6% vacancy) and Riyadh ($587/sqft, 4.6% vacancy) compete on different axes: London on talent depth and Riyadh on rent and tax.
| Metric | London | Riyadh |
|---|---|---|
| Region | EMEA | EMEA |
| Country | United Kingdom | Saudi Arabia |
| Class A rent (USD/sqft/yr) | $121 | $587 |
| Class A rent (local) | 95 GBP | 2200 SAR |
| Vacancy | 8.6% | 4.6% |
| Trend | rising | rising |
| Prime yield | 4.5% | 6.8% |
| Premium flex / seat / month (USD) | $1,380 | $720 |
| Submarkets covered | 7 | 5 |
| Corporate tax | 25% | 20% |
| Metric | London | Riyadh |
|---|---|---|
| Typical term | 10 yrs | 5 yrs |
| Typical rent-free | 24 mos | 4 mos |
| Lease norms | London leases are predominantly Full Repairing and Insuring (FRI). Tenant pays service charge and is responsible for dilapidations on lease end. Rent reviews to open-market rent every 5 years are standard. Rent-free periods of 18-30 months on a 10-year term are typical, with 'capped' rent-free for break-clause certainty. Personal guarantees are uncommon for institutional tenants; rent deposits are common for younger covenants. | Net leases. 5-year terms with renewal options standard. Free rent of 3-6 months on a 5-year Class A deal. |
| Tax note | UK corporation tax is 25% (19% small profits rate). Business rates are a major occupancy cost — ~50% of rateable value annually, levied separately from rent and service charge. | 20% Saudi corporate income tax for non-Saudi/GCC owned entities. Zakat 2.5% on net assets for Saudi/GCC owners. RHQ program offers 30-year tax holiday for qualifying multinational HQs. |
| Metric | London | Riyadh |
|---|---|---|
| Talent index (0–100) | 96 | 78 |
| Talent note | Largest financial-services and technology talent pool in EMEA. Average all-in compensation indexes 96 vs. New York's 100. | Growing tech, finance, and professional services talent. Strong Saudi national talent pipeline through Vision 2030 education programs. Saudization (Nitaqat) program requires meeting Saudi national employment quotas. |
London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium.
Riyadh: Riyadh Metro (six lines, opening progressively from 2024-25). King Khalid International Airport (RUH) bus-served; Metro link planned. Heavy car dependency outside the urban core.
London is the cheaper Class A market on a USD basis.
London has the deeper talent index (96/100 vs 78/100).
Riyadh has the lower headline corporate tax (20% vs 25%). Local incentives can change the effective rate materially.
London typical term is 10 years with 24 months free; Riyadh runs 5 years with 4 months free.
London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium. Riyadh: Riyadh Metro (six lines, opening progressively from 2024-25). King Khalid International Airport (RUH) bus-served; Metro link planned. Heavy car dependency outside the urban core.
Score London, Riyadh and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.