Citigroup has opened its regional headquarters in Riyadh, joining other major banks like Goldman Sachs in expanding their presence within the Kingdom. This move aligns with global firms’ growing interest in Saudi Arabia’s financial landscape and benefits from the country’s regulatory incentives, including tax exemptions and streamlined government contract access. The new HQ positions Citigroup for increased engagement in the Kingdom’s vibrant financial market. This strategic expansion is seen as a key step towards supporting the continued growth of the company’s franchise in Saudi Arabia, according to CEO Fahad Aldeweesh. 500+ companies have adapted to Saudi regulations to benefit from the region’s traditional finance sector, contributing to its growing position as a global financial hub.