JLL and RCRC partner to transform 85 metro stations into thriving commercial hubs with 733 retail units.
The Royal Commission for Riyadh City (RCRC) has announced a strategic partnership with JLL, a leading global real estate advisory firm, as the leasing advisor for the entire commercial network of Riyadh Metro, a landmark urban transformation project under Saudi Arabia’s Vision 2030. JLL will leverage its global expertise and extensive market knowledge to execute a comprehensive retail strategy encompassing tenant mix, rental analysis, and leasing cycles for 733 commercial units across 85 metro stations and 2,900 bus stops.
Aimed at reshaping urban mobility in Saudi Arabia, Riyadh Metro is an extensive six-line network that seamlessly integrates business districts, residential communities, and cultural landmarks. The state-of-the-art rapid transit system is projected to serve 3.6 million daily commuters, offering lifestyle retail and F&B brands unparalleled daily exposure to a vast and diverse urban audience.
The retail units strategically located across prime locations within the Riyadh Metro network will establish new commercial corridors and enhance the daily commuter experience, providing easy access to a choice of prime shopping and dining experiences for both residents and tourists. These commercial outlets, designed to maximize footfall and visibility, create unique investment opportunities for retail businesses and are expected to drive strong returns on investment through extensive brand visibility avenues, including co-naming rights, in-station advertising, and dedicated kiosks and units.
The Royal Commission for Riyadh City (RCRC) is the authority leading Riyadh’s comprehensive urban transformation and has developed the Riyadh Metro project in line with the Vision 2030 goals of establishing world-class infrastructure that benefits both residents and the broader business ecosystem.
As the leasing advisor, JLL will leverage its deep local market knowledge to develop a robust leasing and tenant mix strategy for Riyadh Metro’s commercial network, including tenant mix planning, performance review, leasing services and leasing management. JLL will conduct detailed rental rate analysis, prepare a comprehensive report outlining commercial outlet opportunities, and create a definitive Tenant Manual and Policies guide. JLL will execute the full leasing program, managing competitive tender bids for retail units, ATMs, and convenient click-and-collect kiosks under the management of The Royal Commission for Riyadh City (RCRC). It will also oversee tenant management from the initial handover to its opening and provide continuous maintenance support.
Dana Williamson, Head of Offices and Business Space for MENA at JLL, said: “Our strategic partnership as the leasing advisor for the Riyadh Metro commercial network is a powerful affirmation of JLL’s commitment to championing Saudi Arabia’s Vision 2030 and its ambitious urban transformation goals. We look forward to working alongside the RCRC to attract leading brands and create unparalleled opportunities for their expansion and strategic market positioning within this landmark infrastructural project. JLL’s global and local leasing expertise will maximize commercial viability for businesses in line with RCRC’s visionary blueprint, setting new benchmarks for the commercial real estate industry in Riyadh.”
The leasing process for commercial units within the Riyadh Metro network is conducted through a transparent public bidding framework, with Request for Proposals (RFPs) disseminated via the FORAS Platform. Each RFP encompasses multiple unit groups, typically comprising up to five units based on the released concept. Prospective bidders may submit offers for one or more units. The bidding will be awarded to the highest offer, following a rigorous technical evaluation.
To express your interest in leasing within Riyadh Metro or learn more about the opportunities, please contact:
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