Saudi news channel Al-Arabiya to move out of UAE after domestic investment push

Saudi news channels Al-Arabiya and Al-Hadath are shifting their headquarters from Dubai to Riyadh, according to new reports.

Staff at the sister channels were told about plans for Riyadh move on Monday, sources told Al Jazeera.

The process will take place over several stages and staff will be offered support in the move, according to the report.

Al-Arabiya sources told Al Jazeera that the channels will produce 12 hours of news programming from Riyadh by January 2022. 

Saudi Crown Prince Mohammed bin Salman has pushed for multinational companies based in the UAE to relocate to the kingdom as part of a push to make the country a regional business hub.

Riyadh has already told international companies to shift their Middle East HQs to Saudi Arabia by the start of 2024 or risk losing billions of dollars in business domestically.

Crown Prince Mohammed has pushed an $800 billion strategy to double the size of the Saudi capital with the aim of turning it into a global hub.

This could significantly challenge Dubai's status as the Middle East's business hub.

The shift of Saudi broadcasters to the kingdom could be a big hit for Dubai's Media City, which has housed some of the region's biggest media companies for over a decade.

MBC Group CEO Sam Barnett said that the Saudi company's plans to set up a new headquarters in Riyadh - which was announced last year - are "on track" and part of a goal of maintaining a "strong regional presence".

The New Arab has approached Al-Arabiya for comment about the report.