Riyadh - Sharikat Mubasher: Monks, the global advertising and media powerhouse, opened a new office in Saudi Arabia to relocate its Middle East headquarters from Dubai to Riyadh, leveraging the Kingdom’s position as a leading business hub in the region.

The Riyadh office will focus on collaborating on advertising solutions with local businesses, startups, tech innovators, and educational institutions, according to the company’s statement.

Through the new office, the company aims to work specifically with Saudi Arabia’s giga projects.

Omar Abou-Ezzeddine, Monk’s Regional Managing Director for the Middle East and Africa, said: “Relocating our headquarters to the Kingdom of Saudi Arabia is a strategic decision that reflects our confidence in the kingdom’s future as a center for innovation and business in the region.”

Monks is the operating brand of Martin Sorrell’s S4 Capital, the tech-led digital advertising and marketing services company.

It is worth noting that several global giants relocated their headquarters to Saudi Arabia in conjunction with the Kingdom's Regional Headquarters (RHQ) Program which mandates foreign companies to establish a headquarters in Saudi Arabia to start or expand their businesses in the Kingdom. To streamline the process for foreign companies, the Saudi Ministry of Investment (MISA) added a 30-year tax relief incentive package to the program.