Whoever you speak to in legal circles in the Gulf today, one topic always comes up: where the Kingdom of Saudi Arabia (KSA) stands in its efforts to turn itself into a business destination as attractive as Dubai.

The stakes rose when the kingdom’s Regional Headquarters Programme (RHQP) took effect on January 1. Law firms including White & Case, Clyde & Co and Latham & Watkins have thrown their weight behind Riyadh—around an impressive 350 companies across multiple sectors have to date also signed up.