Boeing set to establish Middle East headquarters in Riyadh

Tuesday, February 13, 2024

According to Bloomberg, Boeing, the American aircraft manufacturer, has formally requested a license to establish Riyadh as its Middle East headquarters.

This move comes following Saudi Arabia’s deadline for international companies to establish regional offices within the kingdom.Companies who missed out would risk losing out on lucrative government contracts.

During the World Defense Show in Riyadh, Boeing’s President for Saudi Arabia, Asaad Aljomoai, verified that the company had submitted its official application and is currently collaborating with the Ministry of Investment for approval.

Recently, Boeing’s Saudi division forged an agreement with Bahri Logistics, the national shipping company of Saudi Arabia, aimed at strengthening their supply chain operations and expanding their support services for defense-related products.

After a multi-billion-dollar deal that saw the country’s national carriers announce their intent to purchase up to 121 787 Dreamliners – making it largest commercial order by value in the plane manufacturer’s history – Boeing has been expanding its operations in the Kingdom.

As part of Vision 2030, Saudi Arabia aims to attract investments totaling $100 billion from both public and private sectors by 2030, spearheading its civil aviation strategy.

The strategy includes the construction of new airports, implementation of state-of-the-art ground services, and a substantial increase in air traffic, with the ultimate goal of welcoming 150 million international visitors by 2030.

The country is on track to launch Riyadh Air in 2025, which is backed by the $800 billion Public Investment Fund, which includes a larger order of Boeing aircrafts.

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