Bain & Company strengthens Middle East presence with new regional headquarters in Riyadh
RIYADH: Bain & Company, a leading global management consultancy, has announced the opening of its new regional headquarters in Riyadh a move that reinforces the firm's long-standing commitment to the Kingdom and the wider Middle East. The new space reflects Bain's continued investment in cultivating talent, supporting national transformation, and building even closer partnerships with clients across the region.
Bain has worked alongside clients in the Middle East since 1990, helping to shape ambitious strategies and drive impact across industries. With the establishment of its first regional office in 2007, the firm deepened its on-the-ground presence and over the years has earned a reputation as a trusted partner in many of the region's transformation programs.
The new Riyadh office marks Bain's third successive location in the city, underscoring the firm's long-term growth and continued investment in the capital. This latest move to a modern, state-of-the-art space in King Abdullah Financial District (KAFD) provides a dynamic environment for Bain's growing team. Inspired by Saudi Arabia's rich and diverse culture — with design elements reflecting its different regions the office is designed to foster collaboration, innovation, and deeper client connection at the heart of the city's thriving business community.
Ahmed Boshnak, Partner and Head of Bain & Company's Riyadh office, said: 'This investment is a natural next step on our journey in Saudi Arabia. It's a reflection of the trust our clients have placed in us, the incredible talent we've been able to build, and our continued optimism about the market's future. Being in KAFD puts us closer to many of our clients, and the new space gives our team the right environment to collaborate, grow, and continue delivering meaningful results'.
Bain & Company's new Riyadh office more than doubles the footprint of its previous space, reflecting a significant upgrade in both scale and functionality. It incorporates the latest workplace technologies, including flexible hybrid workspaces, high-tech collaboration tools, and enhanced facilities to support both in-person and remote engagements. The design also reflects Bain's ongoing commitment to sustainability, with the space aiming to achieve the highest environmental standards, including LEED certification for energy efficiency and sustainable building practices.
Tom De Waele, Middle East Managing Partner at Bain & Company, added: 'Our region has always been a priority for Bain — and our presence in Riyadh, alongside our clients and teams, is a cornerstone of that. This milestone is about investing where it matters most: enabling us to be closer to and better serve our clients from the latest infrastructure in the heart of Riyadh, while also providing a state-of-the-art home for our exceptional and fast-growing Saudi team, as well as international experts visiting the Kingdom to support them. We're grateful for the partnerships we've built in the market and are excited about what lies ahead.'
Bain's new Riyadh office is located at King Abdullah Financial District (KAFD), Building 1.15, Level 41.
About Bain & Company
Bain & Company is a global consultancy that helps the world's most ambitious change makers define the future.
Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today's urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hi Dubai
17 hours ago
- Hi Dubai
Foreign-Owned Real Estate Firms Surge in the UAE: Opportunities and Challenges
What is really driving the rise of foreign-owned real estate firms in the UAE? It goes far beyond tall towers and lifestyle promises. At the center of this momentum are new laws, global investor demand, and a well-planned strategy that has turned Dubai and the wider UAE into a magnet for international property firms. In this article, we explore what's behind the growth of foreign-owned real estate firms in the UAE, unpack the many benefits available, and examine the challenges that investors should consider before entering this fast-evolving market. The Policy Reforms That Changed Everything Opening the Market to Foreign Ownership Dubai's real estate transformation began in 2002 when freehold ownership was introduced. This allowed non-UAE nationals to purchase, sell, and lease properties in specific areas. But the real boost came in 2006 with Law No. 7, which legally protected these rights under a formal registry. Since then, Dubai has gradually expanded its list of freehold zones to include high-demand areas like: Dubai Marina Downtown Dubai Palm Jumeirah Al Wasl Meydan Dubai South Al Jaddaf Sheikh Zayed Road (SZR) These zones are carefully chosen based on demand potential, urban development plans, and infrastructure access. Meanwhile, other emirates like Abu Dhabi offer leasehold rights to foreigners, typically for 99 years, but with more restrictions compared to Dubai. This means a foreign investor's experience varies by emirate and requires location-specific legal advice. Full Company Ownership Reform (2020) Previously, foreign investors had to partner with a local Emirati sponsor to start a business in the UAE. This changed dramatically in 2020 when the government removed this requirement, allowing full foreign ownership of onshore companies across most sectors, including real estate development and brokerage. This gave foreign real estate firms the ability to operate independently, register under their own name, and control their business strategy, making Dubai even more attractive for long-term real estate operations. The Role of Economic Diversification and Urban Planning While real estate was booming, the UAE's leadership realized that long-term sustainability required a diversified economy. Dubai, especially, had limited oil reserves and needed new sources of growth. Real estate became the foundation for other sectors like tourism, finance, trade, and healthcare to thrive. Its direct and indirect contributions to GDP made it a centerpiece of national planning efforts. Key government plans that shaped the sector: Dubai 2040 Urban Master Plan: Focuses on sustainability, green mobility, and population growth across five urban centers. Focuses on sustainability, green mobility, and population growth across five urban centers. UAE Centennial 2071: Aims to position the UAE as a global leader in innovation, education, and investment over the next 50 years. Aims to position the UAE as a global leader in innovation, education, and investment over the next 50 years. Tourism Strategy 2031: Designed to attract over 40 million hotel guests annually, boosting hospitality-driven real estate demand. These initiatives created fertile ground for large-scale, mixed-use real estate projects that appeal to international developers. A Tax-Friendly Environment for Foreign Real Estate Investors The UAE's tax policy is one of the strongest selling points for investors. Here's what makes it exceptional: No property tax: Owners don't pay annual property taxes, unlike in countries like the US or the UK. Owners don't pay annual property taxes, unlike in countries like the US or the UK. No capital gains tax: Profit from selling property is not taxed. Profit from selling property is not taxed. No personal income tax: Rental income is tax-free for individual owners not conducting formal business. Rental income is tax-free for individual owners not conducting formal business. Corporate tax (9%) only applies to taxable profits exceeding AED 375,000 for businesses. REITs and income from properties leased in free zones may qualify for exemptions. only applies to taxable profits exceeding AED 375,000 for businesses. REITs and income from properties leased in free zones may qualify for exemptions. No inheritance tax or wealth tax for property passed to heirs. On top of this, the UAE has signed over 140 double taxation agreements with countries worldwide, protecting investors from being taxed in both their home and host countries(Source: UAE Ministry of Finance, 2024). Strategic Infrastructure and Free Zones: A Built-in Advantage The UAE doesn't rely on policy alone—it has backed up its ambitions with world-class infrastructure. For foreign real estate firms, this signals long-term value, stability, and operational ease. Key highlights: Transport infrastructure Ongoing expansion of Al Maktoum International Airport, projected to be the largest airport by capacity. Efficient metro and tram systems, with new routes planned along growth corridors. Excellent road networks and maritime connectivity at Jebel Ali Port. Power and logistics Smart city initiatives are improving digital infrastructure, AI-based planning, and sustainability features in buildings. Dubai Electricity and Water Authority (DEWA) offers reliable and cost-efficient services. Free zones boosting commercial activity Jebel Ali Free Zone (JAFZA) Dubai Internet City Dubai Design District (d3) Dubai South Dubai Silicon Oasis These zones offer benefits like 100% foreign ownership, zero customs duties, and fast-tracked setup processes, making them a popular choice for foreign developers. Who's Building—and Who's Buying? Top Developers Leading the Charge Dubai's skyline is shaped by a handful of powerful developers who dominate both the luxury and mid-tier markets. Their global reputation and ability to deliver large-scale projects act as a safety net for foreign investors. Emaar Properties: Known for Burj Khalifa, The Dubai Mall, and Dubai Hills Estate. Known for Burj Khalifa, The Dubai Mall, and Dubai Hills Estate. Damac Properties: Specializes in luxury residences and branded communities like DAMAC Lagoons and DAMAC Hills. Specializes in luxury residences and branded communities like DAMAC Lagoons and DAMAC Hills. Nakheel: Created the iconic Palm Jumeirah and other waterfront mega-projects. Created the iconic Palm Jumeirah and other waterfront mega-projects. Sobha Realty, Meraas, Azizi Developments, Danube Properties: Known for delivering high-end apartments and family-friendly communities. Top Investor Nationalities (Dubai Land Department Data) Year Total Investment Value Top Foreign Investors 2015 AED 81 Billion India, UK, Pakistan 2017 AED 84 Billion Foreign women investors = AED 21 Billion 2023 USD 172.6 Billion 42% from non-resident foreign investors 2024 AED 761 Billion 110,000 new investors (Russia, India, China) (Source: Dubai Land Department Annual Reports 2015–2024) This broad mix of nationalities reduces the risk of over-dependence on any one market, offering resilience in times of global economic shifts. Market Performance: A Snapshot of Strong, Sustained Growth The UAE real estate sector, especially in Dubai, has shown steady performance backed by rising prices, robust rental yields, and increasing transaction volumes. These numbers tell a story of both strong demand and real investor confidence. Key Indicators of Dubai's Market Health (2023–2025) Metric Value/Rate Period Source Total Transactions 226,000 2024 Dubai Land Department (DLD) Total Investment Value AED 761 Billion 2024 DLD Residential Price Growth 20.7% (YoY) Q1 2024 CBRE, Knight Frank Reports Apartment Price Increase 20.43% (YoY) Q1 2024 Property Monitor Villa Price Increase 22.08% (YoY) Q1 2024 Bayut & Dubizzle Annual Reports Commercial Property Price Growth 13.19% (YoY) 2024 Asteco, Savills Office Occupancy Rate (Dubai & AD) 94% 2024 JLL UAE Market Overview Rental Yields (Luxury) 4.5% – 6.5% Early 2025 Est Property Finder, Betterhomes Rental Yields (Mid-market) 6.0% – 8.5% Early 2025 Est Property Finder, Bayut Rental Yields (Affordable) 7.0% – 9.5% Early 2025 Est DLD, real estate brokerage reports UAE GDP Growth Forecast ~4.7% 2025 UAE Central Bank These figures point toward a fundamentally strong market, where price growth is backed by real demand, and rental yields remain competitive even by global standards. Opportunities for Foreign Investors For global real estate firms and individual investors, Dubai offers much more than high returns. The investment comes with long-term advantages that go far beyond bricks and mortar. 1. High Net Returns and Wealth Preservation No capital gains or income tax means investors keep almost all of what they earn—this is rare globally. means investors keep almost all of what they earn—this is rare globally. Consistent property price appreciation , especially in freehold zones, makes it ideal for long-term asset growth. , especially in freehold zones, makes it ideal for long-term asset growth. Strong rental demand in areas like Dubai Marina, JVC, Downtown, and Business Bay creates stable cash flow. 'Dubai's average gross rental yields are among the highest in the world—almost double what investors get in cities like London or Hong Kong.' (Knight Frank UAE Residential Market Report, 2024) 2. Residency Options for Investors Dubai's government ties property investment to visa opportunities, creating long-term value for families and business owners alike. AED 750,000+ investment → 2-year renewable residence visa → Covers spouse and children → 2-year renewable residence visa AED 2 million+ investment→ 10-year Golden Visa→ Includes spouse, children (no age limit), parents, and domestic staff→ Remains valid even if the investor passes away during the term→ Can be financed via approved bank loans → Must hold property for at least 2 years This makes the UAE attractive not just for investment, but also for relocation, education, and healthcare access for global families. 3. Flexible Payment and Finance Options Developers and banks have made it easier than ever for international buyers to enter the Dubai market. Off-plan properties with post-handover payment plans → Pay 20–30% upfront, rest over 3–5 years with post-handover payment plans → Pay 20–30% upfront, rest over 3–5 years Interest-free installments in some projects in some projects Mortgages for non-residents are now widely available → Loan-to-value ratios of 70–80% are common for eligible buyers This removes a major barrier for those without full upfront capital and diversifies the investor base beyond cash-rich buyers. 4. Tokenization: The Future of Property Investment Dubai is one of the first global real estate markets to embrace tokenization, which allows properties to be divided into fractional digital shares using blockchain technology. Dubai Land Department estimates AED 60 billion in tokenized property value by 2033 in tokenized property value by 2033 Makes investment accessible to smaller investors or crypto-savvy buyers Ideal for high-value assets (e.g., luxury hotels, towers) where full ownership is not feasible This is part of Dubai's broader strategy to digitize and modernize real estate, while staying ahead of global trends. Challenges in the Market: What Foreign Investors Must Watch Despite its appeal, the UAE real estate market, like any other, has areas of risk. Understanding these upfront can help investors plan better and avoid costly mistakes. 1. Market Volatility and Oversupply Risks While demand is strong, some areas face the threat of oversupply, especially in emerging communities. Developers are launching thousands of new units in JVC, Dubai South, and Al Furjan. If supply outpaces demand, rental yields can soften in the short term. Global economic slowdowns or oil price shocks can influence buyer sentiment and spending. That said, prime zones like Downtown, Marina, and Business Bay remain resilient due to limited availability and high demand. 2. Regulatory Complexity Across Emirates Rules for foreign ownership vary from one emirate to another: Dubai : Liberal with extensive freehold zones and streamlined processes : Liberal with extensive freehold zones and streamlined processes Abu Dhabi : More leasehold than freehold; limited foreign zones : More leasehold than freehold; limited foreign zones Sharjah and Northern Emirates: Some opportunities, but generally less open to full foreign ownership This means investors must: Verify which zone they're buying in they're buying in Understand ownership rights (freehold vs leasehold) Check visa eligibility based on property value and payment method 3. Liquidity and Transaction Costs Real estate is a long-term game in Dubai. Quick flipping is harder due to costs and liquidity: Dubai Land Department registration fee : 4% of the purchase price : 4% of the purchase price Agency commissions : 2% typically (negotiable) : 2% typically (negotiable) Service charges : Ongoing annual costs for maintenance, typically AED 10–25 per sq. ft. : Ongoing annual costs for maintenance, typically AED 10–25 per sq. ft. Exit costs: Legal, bank, and brokerage fees on resale Real estate also takes weeks or months to sell, especially in slower periods. Investors should plan for a 3–7 year horizon for solid gains. Strong Government Oversight and Investor Safeguards The UAE has put serious effort into building a transparent, investor-friendly ecosystem. Several institutions help ensure that both individuals and firms feel safe operating here. Dubai Land Department (DLD) Regulates all property transactions Maintains ownership registry and data portals Operates via digital tools like the Dubai REST App, which lets users track ownership, payments, and legal documents Real Estate Regulatory Agency (RERA) Ensures developers and brokers are licensed Oversees escrow accounts for off-plan projects Protects buyers from fraud or delivery delays Escrow Account System Developers must deposit investor funds in escrow Money is only released when construction milestones are met Offers security in off-plan deals Rental Dispute Center (RDC) Handles tenancy disputes efficiently Offers legal mediation and fast-track decisions Protects both landlords and tenants Anti-Money Laundering (AML) and Compliance Measures Since its removal from the FATF Grey List in 2024, the UAE has significantly tightened financial scrutiny in real estate. Current Requirements for Buyers: Must complete KYC (Know Your Customer) checks The source of funds must be declared and verified Corporate buyers must disclose Ultimate Beneficial Owners (UBOs) Virtual asset purchases (e.g., crypto) must go through licensed Virtual Asset Service Providers under Central Bank rules This gives credibility to the market and reassures international regulators that Dubai is serious about transparency and compliance. Foreign investment in the UAE's real estate sector reflects the country's progress in creating a globally trusted property market. Clear ownership laws, strong regulatory oversight, visa-linked incentives, and a fully digital transaction process have made real estate more accessible and secure for international buyers. The government's long-term urban planning and commitment to economic diversification continue to strengthen investor confidence. With high rental yields, rising property values, and supportive infrastructure already in place, now is the best time to invest in a market built for both growth and stability. Also read: DIFC Unveils Heights Tower: Sales Launch for Landmark Live-Work-Play Development Begins 16 April Dubai International Financial Centre (DIFC) has announced that sales for its newest residential project, Heights Tower, will officially begin on 16 April 2025. Dubai Real Estate Investment Guide 2025: Your Pathway to Lucrative Opportunities Explore Dubai's real estate market in 2025 with this expert investment guide—covering top areas, opportunities, legal tips, and high-return strategies. What's Driving Dubai's Property Surge? It's More Than Just Demand Dubai's property surge isn't just demand-driven—economic policies, innovation, and global investment are shaping its unstoppable real estate boom. Best Investment Opportunities in Dubai for Residents Discover smart investment opportunities in Dubai for working professionals & residents—secure, low-risk ways to grow your savings wisely.
Fintech News ME
19 hours ago
- Fintech News ME
Stake Launches First Real Estate Development Fund in Saudi Arabia
Stake, a real estate investment platform based in Dubai and Riyadh, has launched its first private real estate development fund in Saudi Arabia. The fund is located in Riyadh's Al Malqa district, near major commercial and government zones including the King Abdullah Financial District and the Diplomatic Quarter. It is fully Shariah-compliant and open to both local and international investors, with a minimum investment of SAR 500. This development is part of Stake's broader regional expansion following its entry into the Saudi market in early 2024. The platform became the first regulated by Saudi Arabia's Capital Market Authority (CMA) to offer non-Saudi investors access to the Kingdom's real estate sector. Within five months of launching in the country, Stake introduced three private real estate funds, attracting over SAR 135 million in foreign direct investment from investors in more than 70 countries. Backed by entities including Tharwat for Wealth Management, Rasaf Investment, and Mawan Real Estate, the new Riyadh-based fund positions Stake as a key player in supporting Saudi Arabia's Vision 2030 agenda to diversify its economy and expand foreign participation in real estate. The fund launch comes as Stake also surpasses AED 1 billion in real estate transactions since its launch in 2021. The platform has facilitated over 250,000 individual investments across more than 420 properties, primarily in Dubai, with a user base of over one million individuals across 170 countries.
Broadcast Pro
a day ago
- Broadcast Pro
Sony Music Middle East partners with LuxuryKSA to champion Saudi music talent
The move comes amid significant industry momentum in the MENA region, which recorded a 22.8% rise in recorded music revenues in 2024, according to the IFPI Global Music Report 2025. Sony Music Middle East has announced a strategic alliance with Saudi-based entertainment company LuxuryKSA, aimed at nurturing and promoting Saudi Arabian music talent. The partnership strengthens Sony Music's regional presence and aligns with its long-term vision to grow Khaliji pop artists across the Middle East and on the global stage. The announcement comes amid a boom in the region's music industry. The Middle East and North Africa (MENA) has emerged as the fastest-growing music market globally for the second time in three years, registering a 22.8% increase in recorded music revenues in 2024, according to the IFPI Global Music Report 2025. LuxuryKSA, headquartered in Riyadh, has carved a strong reputation in the local industry, developing artists like Ayed Youssef and Sultan Al Murshed for mainstream success. Ayed, who has garnered more than 500m views across digital platforms and received the 'Favorite Artist' award at the Joy Awards in both 2024 and 2025, recently topped the IFPI MENA charts with his single Tala'et Abeh. He currently has seven tracks charting in Saudi Arabia's IFPI listings. Sultan, another rising star discovered and nurtured by LuxuryKSA, has also made a mark in just three years, with several hit releases and his 2025 album entering the IFPI charts. Commenting on the collaboration, HRH Prince Khaled Bin Mansour Bin Saud Bin Abdulaziz, Chairman of LuxuryKSA, said: 'Partnering with Sony Music isn't just a milestone; it's a powerful evolution for an already vibrant Saudi music scene. As a leading force in the market, we are dedicated to amplifying our exceptional local artists who reflect our rich heritage. Together, we will elevate their voices on regional and global stages and redefine the future of entertainment.' Shridhar Subramaniam, President for Asia and Middle East, Sony Music, added: 'The Middle East is a priority market for us, with Saudi Arabia at the centre of a cultural and creative transformation. Our partnership with LuxuryKSA is part of a broader strategy to deepen our roots in the region, champion local voices, and support sustained artist development. As the music industry in MENA continues to grow at pace, we are committed to working with partners to shape its future and bring the richness of the region's music to a global audience.' Rami Mohsen, Managing Director for Middle East, Sony Music, stated: 'LuxuryKSA is renowned for nurturing Saudi talent and positioning them on a regional and global scale. Through this partnership, we're working on building a talent incubator with LuxuryKSA in Saudi Arabia, designed to nurture and develop the next generation of stars. With artists' creativity our utmost priority, this partnership strengthens our local presence in Saudi Arabia and expands opportunities for our artists in a culturally rich and diverse region.' Ayed Youssef commented: 'I'm thrilled about this partnership with Sony Music and LuxuryKSA! It's an amazing chance to bring Khaliji pop to new fans everywhere. I can't wait to share my music and connect with people while staying true to my roots.'
