Sources have reported that Saudi state-owned media companies based in Dubai will begin relocating employees to the capital Riyadh this month, as Crown Prince Mohammed bin Salman advances plans to transform the Kingdom into a regional business hub. This move follows the Saudi government's earlier decision this year to cease granting government contracts to companies and commercial institutions headquartered in any other Middle Eastern country.
Two informed sources told Reuters that state-owned channels Al Arabiya and Al Hadath have informed their employees this week of plans to begin broadcasting 12 hours a day from Riyadh by January of next year. They added that the relocation process might take up to two years to complete.
The sources also indicated that MBC Group, the largest media company in the Middle East, and Al Sharq News, a newly established TV news channel, have internally discussed plans to move to Riyadh. The Saudi government acquired a majority stake in MBC Group when the authorities moved to seize assets from those pursued in a 2018 anti-corruption investigation.
MBC, Al Arabiya, and Al Hadath are located in Dubai Media City, the media hub of the UAE that houses hundreds of media companies, with most of its headquarters in the Middle East. Al Sharq is located in the Dubai International Financial Centre. Al Arabiya and Al Hadath did not respond to requests for comments.
MBC stated in a press release sent to Reuters that in February 2020, the group’s president announced plans to establish a new headquarters in Riyadh, which would include the creation of a business and production center. The statement added, "Our plans are on track." Earlier this week, Bloomberg reported on plans to relocate media companies.
