Pfizer Saudi Arabia is the latest global organization to move its Saudi headquarters to KAFD. The global biopharmaceutical company joins international firms such as Roland Berger and BUPA at Riyadh’s business and lifestyle destination.
KAFD, the landmark development, is a key driver of Riyadh’s economic ambitions. Set in the heart of the capital, KAFD is home to 1.6 million square meters of state-of-the-art office space, world-class venues and iconic luxury residences, designed to transform the way urban communities live, work, learn and play. It is owned and managed by the King Abdullah Financial District Development and Management Company (KAFD DMC).
Pfizer Saudi is a new tenant in the ever-growing tenant portfolio of KAFD. Its new offices, housing approximately 125 people, are located in a Silver LEED certified building recognised by the U.S. Green Building Council (USGBC) for its sustainable approach to energy and environmental design, and designed by FXFOWLE.
Pfizer engages in the discovery, development and manufacturing of healthcare products, medicines and vaccines to improve patients’ lives. It has been operating in Saudi Arabia since the early 1960s. The company has a manufacturing plant in King Abdullah Economic City, on the west coast of the Red Sea.
In 2016, Saudi Arabia General Investment Authority (now the Ministry of Investment of Saudi Arabia) issued a trading license to Pfizer, making it one of the first pharmaceutical multinational companies with such a license. The license gives Pfizer 100% foreign ownership of its legal entity in the country with the ability to import, export, and trade in wholesale and retail products.
The Kingdom of Saudi Arabia remains an important market for Pfizer and by operating out of KAFD, the pharma company is strengthening its presence in the Kingdom.
Gautam Sashittal, Chief Executive Officer of KAFD DMC, commented, “As a tenant and pharmaceutical leader, Pfizer contributes to the realisation of the socio-economic objectives of Vision 2030. We are proud to welcome Pfizer Saudi to KAFD, where the region’s leading businesses are establishing their Saudi presence. Operated with sustainability at the heart of our development and day-to-day practice, KAFD supports its tenants with its unique blend of business ecosystem, urban experience and environmental practice.”
Mohamed Fawzy, Pfizer Saudi Country President shared, “With KAFD’s enriching business environment, it will enhance our plans to leverage local innovation, tap into local talent and to explore new opportunities where we aim to advance national health objectives. Being here gives us great advantage for our plans to support Vision 2030,” adding: “Our move is aligned with Pfizer Saudi’s new chapter of excellence of being innovative and science driven, and the new office surrounding will focus on unleashing the power of our people through a diverse, inclusive, and engaging work environment.”
In 2021, Pfizer Saudi launched the Pfizer Scientific Institute, which provides various opportunities to support Vision 2030 by attracting local talent, as well as developing and strengthening partnerships with multiple partners in academia, government, healthcare institutions, and associations.