Aramco Tower became the target of a rare strike on Riyadh’s financial center
Kyiv • UNN
A Houthi missile attack damaged Saudi Aramco offices in KAFD, but there were no casualties. Saudi authorities said two launchers had been destroyed.
The Houthi attack damaged one of the landmark sites in the financial district of Saudi Arabia’s capital. This disrupted plans to return to normal life approximately a month after deadly strikes on Riyadh airport disrupted transportation links and canceled major events. UNN reports this, citing Bloomberg.
Details
The offices of state oil giant Saudi Aramco sustained minor damage in a new barrage of ballistic and cruise missiles fired at the city on Sunday, November 8. According to the state-run Saudi Press Agency, there were no fatalities or injuries.
The Iran-backed Houthis in Yemen, who have been at war with Saudi Arabia for a decade, claimed responsibility for the attack. Saudi authorities later said they had destroyed two launchers used in the attempted strike in response.
The rare strike on Riyadh’s financial center, known as KAFD, is unlikely to reassure international companies already affected by the months-long regional conflict, the publication notes. KAFD is home to Saudi Arabia’s Public Investment Fund, as well as the stock exchange, global consulting firms, and financial giants including Goldman Sachs and Brookfield.
The incident occurred while KAFD was operating remotely—which limited the immediate impact—but during the morning rush hour, when many Riyadh schools resumed in-person classes for the first time in a month.
A few days ago, KAFD allowed tenants to return to their offices, but on Saturday, November 7, it reversed course and ordered them to work remotely until further notice.
The latest attacks risk prompting new travel restrictions for business executives traveling between Riyadh and major cities such as Dubai, Abu Dhabi, and London. They came nearly a month after Houthi strikes on Riyadh’s main airport killed more than a dozen people and injured hundreds.
These shocks threaten to increase pressure on Saudi Arabia’s heir and de facto leader, Mohammed bin Salman, who is seeking to implement his multitrillion-dollar plan to diversify the economy.
Over the past month, the kingdom has been forced to postpone or cancel events, including the Asian Football Cup and the FII forum, which were expected to benefit the economy and help attract more foreign investment. Saudi Arabia is facing a growing deficit as its economy contracts and its stock market posts lackluster results.
Business activity is certainly continuing. On Monday, Barclays Plc announced the opening of its office in KAFD and appointed Majed Al Hassoun as CEO and head of Barclays Capital Saudi’s investment banking division.
Air travel at King Khalid International Airport in Riyadh remains limited, with many global airlines still restricting travel.
Earlier last weekend, the Houthis threatened strikes on Saudi infrastructure in response to attacks by Saudi-led forces in Yemen.
On Sunday, Iran’s Foreign Ministry condemned what it described as Saudi airstrikes on civilian infrastructure in Yemen and called for an immediate halt to the attacks. It also called for the Saudi-Yemeni conflict to be resolved through dialogue.
The escalation of the conflict between Saudi Arabia and the Houthis comes amid growing speculation in the Middle East about further developments in the Iran-U.S. war and elections in Israel.
The United States attacked unspecified targets overnight outside residential and commercial areas on Qeshm Island in the Strait of Hormuz, Iran’s state broadcaster reported.
Meanwhile, U.S. Secretary of State Marco Rubio played down the chances of a breakthrough in talks to end the Iranian conflict, while U.S. President Donald Trump told CNN that it was "extremely unlikely" that he would order new strikes on Iran if the talks made substantial progress.
In Israel, election candidate Gadi Eisenkot moved one step closer to ousting Prime Minister Benjamin Netanyahu after being given the opportunity to form a new government.
Aramco has periodically come under attack since the United States and Israel began their war with Iran in late February. But the frequency of the strikes has increased in recent months, as the Houthis have stepped up their attempts to attack Saudi vessels and infrastructure.