Foreigners get direct access to Saudi stocks under new draft regs

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: Chinese lenders reportedly step up for Aramco’s Jafurah project

Good morning, ladies and gents. Tadawul is getting more and more serious about opening up the market to even more foreign capital, putting forward draft regulations that do away with restrictions under the Qualified Foreign Investors framework and allowing non-Saudis direct access to all listed securities. The foreign ownership cap is still capped at 49% though, but we could see it lifted by the end of the year.

Also in this morning’s news well: Sama’s monthly figures show net foreign assets climbed to SAR 1.5 tn surplus in August, and the Housing Support Law’s new regs — including a point-based system — are now in effect. Let’s dive in.

HAPPENING TOMORROW-

The SaudiLifestyle Week kicks off tomorrow and runs through Wednesday at the Riyadh International Convention & Exhibition Center. The three-day event brings together global brands and local innovators to connect, collaborate, and capitalize on Saudi Arabia's rapidly evolving market.

WEATHER- Riyadh is expected to reach 35°C by day and cool down to 24°C at night, while Jeddah will see a high of 38°C and a low of 27°C. Makkah stays the hottest, climbing to 42°C before easing to 30°C overnight.

PSAs-

Title deed registration for about 3.2k properties in the Al Yasmin district in Hail kicks off today until 8 January 2026, the Real Estate General Authority said in a statement in August. Owners can register through the Real Estate Registry platform.

WATCH THIS SPACE-

#1- Chinese lenders step up for Aramco’s Jafurah project: Four Chinese state-owned banks are providing over a third of the financing for Saudi Aramco’s Jafurah gas project, Reuters reported on Thursday, citing sources it says are in the know. The debt package includes some USD 1 bn each from the Bank of China, the Industrial and Commercial Bank of China, and China Construction Bank, with around USD 750 mn from the Agricultural Bank of China.

Funds steering clear? Chinese funds reportedly declined an equity stake in the project, following a directive from Beijing to avoid US-linked firms amid ongoing trade tensions, the newswire said.

REFRESHER- A consortium led by BlackRock’s Global Infrastructure Partners (GIP) acquired a 49% stake in Aramco's Jafurah gas infrastructure through an USD 11 bn lease-and-leaseback agreement in August, forming the Jafurah Midstream Gas Company joint venture with Saudi Aramco (51%). The consortium raised a financing package of nearly USD 10 bn last month to fund the investment.

#2- PIF subsidiary Expo 2030 Riyadh Company (ERC) is set to award the contract for the initial infrastructure works at the Expo 2030 Riyadh venue in December, Meed reported on Wednesday, citing unnamed sources. The tender, floated on 21 September, covers the main utilities corridor and is the first of three planned infrastructure contracts. Technical bids are due 26 October and commercial bids on 9 November.

We knew this was coming: PIF launched the ERC last June to manage the construction and operation of the Expo 2030 facilities, forecast to contribute approximately USD 64 bn to the Kingdom’s GDP during its development and another USD 5.6 bn while operational. ERC received interest from contractors for the initial infrastructure works in July.

REMEMBER- US engineering firm Bechtel was appointed as Expo 2030 project manager in July to oversee infrastructure works across the 6 sq km site, including roads, utilities, and public spaces, as well as transforming the venue into a sustainable urban district.

#3- The International Monetary Fund (IMF) is maintaining a positive outlook on Saudi’s economy, buoyed by its agile public spending plans, Managing Director Kristalina Georgieva said in an interview with Asharq Business (watch, runtime: 21:27). The willingness to adapt and ensure spending efficiency demonstrates fiscal discipline, which boosts the confidence of capital markets, Georgieva added.

Diversification is bearing fruit: Georgieva highlighted that while the oil side of the economy is slightly shrinking on the back of lower prices, non-oil sectors are expanding at a robust annual rate of 4.4%. Twin deficits are expected, but the Kingdom remains in a strong position on the back of solid reserves and agile policymaking, Georgieva said.

ICYMI- Our GDP is forecasted to grow 4.6% in 2026, on the back of expected growth in non-oil activities, the Finance Ministry said in its pre-budget statement for FY 2026. The budget deficit is projected to stand at SAR 165 bn, or 3.3% of GDP in 2026 — 2.0 percentage points lower than the government’s expectation of a 5.3% deficit in 2025.

#4- Asyad-led consortium bids for Baghdad airport development: A consortium including Asyad Holdings, China’s Top International Engineering Corporation, Turkey’s YDA İnşaat, Bahrain’s Lamar Holding, and Ireland’s Dublin Airport Authority is among three groups vying to develop and operate Baghdad International Airport under a 25-year public-private partnership (PPP) model, the Iraqi New Agency reported Friday. The project covers infrastructure rehabilitation, a new passenger terminal, and operations and maintenance.

ALSO- Acwa eyes Omani thermal power projects: Renewables giant Acwa Power is bidding to develop and operate two large combined cycle gas turbine (CCGT) power plants for Oman’s Nama Power and Water Procurement Company — the 1.6 GW Misfah IPP in Muscat and the 800 MW Duqm IPP in Al Wusta, Nama said in a statement. The projects, Oman’s first thermal IPPs in nearly a decade, will follow a Build, Own, and Operate (BOO) model, with early operations slated for April 2028 and full operations by April 2029.

OIL WATCH-

Eight Opec+ members are set to discuss another oil output hike at their online meeting today, with the Kingdom pushing for a much larger increase than Russia, Reuters reported on Friday, citing four people it said are familiar with the matter. Russia is reportedly backing a modest rise of 137k bbl / d for November — the same as October — while the Kingdom is pushing for a much larger rise of up to 548k bbl / d to expand market share.

The cartel has been increasing production quotas since April, adding some 2.5 mn bbl / d in total, and will continue monthly hikes through September 2026, fast-tracking the return of 1.65 mn bbl / d that was previously set to stay offline until end-2026.

***You’re reading EnterpriseAM Saudi, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We’re out Sunday through Thursday by 7am Riyadh time.

EnterpriseAM Saudi is available without charge thanks to the generous support of our friends at Tas’heel and Hassan Allam Properties.

Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on saudi@enterpriseAM.com.

DID YOU KNOW that we also cover Egypt, the UAE, and the MENA logistics industry?

Were you forwarded this email? Tap or click here to get your own copy of EnterpriseAM Saudi delivered every weekday.
***

THE BIG STORY ABROAD-

Egypt will host delegations from Israel and Hamas tomorrow for discussions on US President Donald Trump-proposed ceasefire agreement, gypt’s Foreign Ministry said in a statement. The two sides will discuss the conditions for a ceasefire in Gaza and the details of the hostage exchange. Trump’s envoys Jared Kushner and Steve Witkoff arrived in Cairo yesterday to finalize details of the hostage release and discuss the broader peace framework, AFP reports.

Hamas is mostly on board: Hamas said it will release all Israeli prisoners if Israel complies with the conditions detailed in the plan, but signaled that it is after further negotiations regarding the future of Gaza and rights of its citizens. Trump had put forward a 20-point plan that calls for an immediate ceasefire, a swap of hostages for Palestinian prisoners, a staged Israeli withdrawal, and Hamas’ disarmament and gave Hamas until later today to respond to it after it secured Israeli backing last week.

The talks come as Israeli airstrikes on Gaza killed dozens on Saturday, despite Trump’s call for Israel to halt its bombing following Hamas’ declaration that it was ready to free hostages under his plan, according to Reuters. Trump said Israel had agreed to an “initial withdrawal line” in Gaza and that a ceasefire would take effect immediately once Hamas confirms.

ALSO- The Trump administration unveiled plans to deploy hundreds of military personnel to Illinois, despite objections from governor JB Pritzker. It remains unclear when or where the troops will be deployed, though the move follows similar federalizations in Los Angeles, DC, and Oregon, where National Guard units have been used to support local law enforcement. (Financial Times | Associated Press | Guardian | Reuters)

ELSEWHERE IN THE WORLD- Japan is on track to welcome its first-ever female prime minister, with ruling Liberal Democratic Party members electing Sanae Takaichi as their new leader following a tight race against Shinjiro Koizumi. The 64-year-old conservative, known for her alignment with former premier Shinzo Abe’s economic policies, will replace outgoing Prime Minister Shigeru Ishiba amid growing political and economic headwinds. Takaichi is taking over a weakened party facing economic challenges, strained US ties, and declining public support. Takaichi is expected to be confirmed by parliament on 15 October. (Reuters | Financial Times | BBC | Bloomberg)

CMA drafts rules to grant all foreigners direct access to Saudi stocks

Saudi Arabia is moving to open its main market directly to foreign non-residents under draft rules (pdf) posted by the Capital Market Authority (CMA) on Istitlaa. The proposed changes, open for feedback until 31 October, dismantle the Qualified Foreign Investor (QFI) framework and end the swap agreements restriction, with the aim of broadening the investor base, attracting additional foreign investment, and increasing market liquidity.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

Expanded investor access: The changes would open the door for all foreign individuals and institutions, resident or non-resident, to invest directly in all listed securities for the first time. Foreigners are currently limited to investing in listed securities, debt instruments and investment funds.

No more QFI: To allow direct market access, the draft proposes repealing all provisions governing QFI participation in the main market and its associated requirements, including the minimum of SAR 1.9 bn (USD 500 mn) in assets under management. It would also eliminate rules requiring most foreign investors to access Saudi equities through swap agreements.

There are some 4.5k QFIs registered on the Saudi Exchange, per Semafor ’s tally. The amendments are set to allow foreign investors from all around the world to start investing in TASI with little red tape, attracting more foreign capital needed to shore up the increasing pipeline of IPOs on the main market.

Ownership limits remain in place: A single non-resident foreign investor (excluding strategic investors) still cannot hold 10% or more of a listed company’s shares. Combined foreign ownership (resident and non-resident, excluding strategic investors) is limited to 49% of a listed issuer.

BUT- That could change in a few months: Adjustments to ease foreign ownership caps are expected “before the end of the year,” CMA’s board member Abdulaziz Abdulmohsen Binhassan told Bloomberg last month, sending TASI into its sharpest one-day rally since 2020 on the following day. The size of the stake foreigners will be allowed to own was not specified, and the decision will still need approval from other government entities.

The market is already pricing in the prospect of fresh demand, with analysts estimating that a full removal of the cap could unlock some USD 10 bn of passive inflows. The reform could channel foreign demand into sectors such as real estate, mining, and data center operators tied to the Kingdom’s AI agenda, CI Capital KSA CEO Fahd Al Tarzi told us.

Net foreign assets rise to surplus of SAR 1.5 tn in August

Net foreign assets in the Kingdom’s banking sector inch up in August, reaching a surplus of SAR 1.47 tn by the end of the month, compared to SAR 1.43 tn in July, according to the Saudi Central Bank’s (Sama) latest monthly statistical bulletin (pdf).

The breakdown: Sama’s net foreign assets ended July with a surplus of SAR 1.62 tn, recovering from July’s four-month low of SAR 1.58 tn. Meanwhile, commercial banks saw their deficit widen to SAR 158.3 bn by the end of the month, a significant increase from the SAR 144.6 bn deficit reported a month earlier.

The total assets of commercial banks ticked up to SAR 4.92 tn by the end of August, compared to SAR 4.83 tn in the previous month, representing a 14% y-o-y rise. Bank credit across all segments increased 14.6% y-o-y to SAR 3.2 tn by the end of the month.

Personal loans continued to dominate credit, coming in at more than SAR 1.4 tn, followed by corporate credit to real estate activities with SAR 378.8 bn, wholesale and retail trade at SAR 213.6 bn, and electricity, gas, and water supplies at around SAR 209.2 bn.

MEANWHILE- Residential mortgages financed by banks went down 11.2% y-o-y to SAR 5.9 bn during the same period, with a total of 8k contracts.

Settled letters of credit financing private sector imports decreased 6.9% y-o-y to SAR 13.5 bn by the end of August. Around SAR 2.8 bn went to vehicles, while SAR 1.7 bn was allocated to building materials, SAR 1.3 bn for food items, SAR 754 mn for machinery, and SAR 374 mn for appliances.

New letters of credit — an indicator for future imports — rose 2.9% y-o-y to SAR 13.8 bn by the end of the month. This included around SAR 2.3 bn for motor vehicles, SAR 1.6 bn for building materials, SAR 497 mn for machinery, SAR 483 mn for food items, and SAR 376 mn for appliances.

ALSO- Broad money supply (M3) increased 8.4% y-o-y to SAR 3.2 tn by the end of August. Demand deposits (47.7%) topped the list of currency supply components, followed by time and savings deposits (35.7%), other quasicash deposits (9.0%), and banknotes in circulation outside banks (7.6%). Meanwhile, total liabilities reached over SAR 5.4 tn, recording a 5.8% y-o-y increase.

SOUND SMART- M3 is the broadest measure of money supply in a given economy. It includes banknotes, current accounts, and other money that can be quickly mobilized (what econ-nerds call M2) as well as large time deposits, institutional money market funds, short-term repurchase agreements, and larger liquid funds.

Gov’t bonds rise in August after July slip: Government bonds grew 0.93% m-o-m to SAR 637.4 bn by the end of the month, returning to growth after July ended a 12-month growth streak. The figure is up 11.8% y-o-y. Meanwhile, bank credit to public institutions increased 35% y-o-y to SAR 234 bn.

Housing support gets a points-based system

The Housing Ministry published the amended executive regulations for the Kingdom’s Housing Support law in the Official Gazette, introducing updated eligibility rules for beneficiaries and a new points-based system.

The regulations introduce a points-based system to prioritize applicants based on need. Households with lower incomes receive more points, as well as larger families and applicants with serious health conditions. Joint applications through mothers, wives, or siblings are prioritized, while older applicants are given priority in case of equal points.

Eligibility criteria: Eligible applicants include families in different formations, as well as individuals classified under the family category, such as divorced and widowed women, unmarried citizens over 25, and people with disabilities. Applicants must be Saudi nationals and their families must reside in the Kingdom. Household members cannot have previously owned suitable housing or benefited from government or private housing support. Applicants must be at least 20 years old if they are a husband or father, while other categories are exempt from this requirement. Divorced women are now eligible for housing support for one year after divorce, down from two years previously.

Financial rules: Families are considered financially able to buy a home if their assets are valued at SAR 5 mn or more, excluding up to three personal cars and land plots totaling less than 1k sqm. Monthly installments are capped at 33% of income, with a repayment period of up to 25 years, and applicants must not exceed 65 years of age by the end of repayment. Payments start four months after receiving a unit or financing for purchase, or two years in the case of self-construction. Home can be rented out if repayments are up to date and relocation is required for work, study, or other circumstances.

The regulations specify how housing support is provided — through units, land, or financing — giving priority to applicants who can manage installment repayments. Those unable to do so must provide family guarantees or co-signers. Beneficiaries are required to use the support within designated timeframes, with land recipients required to start construction within one year and finish within three years, or risk losing their allocation.

REMEMBER- The government has rolled out sweeping reforms to stimulate the real estate market — opening property ownership to non-Saudis, permitting foreign investment in Makkah and Madinah real estate firms, lifting development curbs on 81 sq km of land in northern Riyadh, and amending the White Land Tax law. It also plans to release 10k-40k affordable residential plots annually, while Riyadh’s Royal Commission also launched the Tawazoun platform, offering citizens residential plots capped at SAR 1.5k per sqm.

Saudi banks issuances to remain strong in 2026 -Fitch

Saudi banks are leading a shift in GCC bank debt markets toward subordinated USD instruments, according to a note from Fitch Ratings. Issuance is set to stay strong into 2026, driven by rising capital needs and the implementation of tighter rules, the rating agency forecasts.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

By the numbers: Saudi banks have raised more than USD 29.3 bn in debt so far this year — over half of the GCC’s total issuance, including USD 11.7 bn in AT1 and Tier 2 capital. Subordinated debt made up over 70% of issuances — excluding certificates of deposit (CDs) — up from 50% in 2024. They have also issued over USD 13 bn in CDs, giving them access to a wider pool of investors at a time when local liquidity remains tight.

The drivers: Saudi banks are lending money faster than they are taking in deposits, which is shrinking their capital buffers. This has caused their Common Equity Tier 1 (CET1) ratios — a key measure of a bank’s financial strength which weighs shares and earnings against risk-weighted assets — to fall by 213 basis points from 2020-2024. This pressure is expected to continue, with lending projected to grow by 12% this year and remain strong into 2026. Furthermore, new regulations will require banks to hold a 1% countercyclical buffer starting in May 2026, and Vision 2030 projects will continue to demand significant financing.

Banks are balancing AT1 and Tier 2 in response: Saudi banks have issued nearly USD 6 bn in Tier 2 instruments this year to rebalance capital structures and draw more international investors, while AT1 remains dominant due to favorable pricing and regulatory flexibility, the note said.

Fitch expects issuance to stay elevated in 2026, driven by over USD 10 bn in maturities, USD 1.8 bn of AT1 instruments reaching first call dates, strong financing demand, and lower interest rates.

REMEMBER- Saudi banks’ net income grew 18% y-o-y in 2Q 2025, beating consensus forecasts by 3%. Aggregate lending growth was also robust at 16% y-o-y, outpacing deposit growth and lifting the system-wide loan-to-deposit ratio to 106%.

Saudi Electricity Company taps Khalid Al Ghamdi as CEO

Saudi Electricity Company (SEC) appointed Khalid Al Ghamdi (LinkedIn) as CEO, it said in a disclosure to Tadawul on Wednesday. Al Ghamdi brings over 20 years of experience in engineering, digital transformation, automation, and IT. He held senior roles at Aramco and SEC and currently serves as chairman of the Arab Union of Electricity.

STC unit inks SAR 5.5 bn, 12-year financing with Saudi banks

DEBT WATCH-

STC subsidiary inks a combined Murabaha agreement with SNB, ANB: Public Telecommunications Company Specialized, a subsidiary of Saudi Telecom Company (STC), secured a SAR 5.5 bn Islamic Murabaha facility agreement to fuel infrastructure projects, it said in a Tadawul disclosure on Thursday. The funding package includes SAR 3.5 bn from the Saudi National Bank, while the Arab National Bank will provide the remaining SAR 2 bn.

IN CONTEXT- STC Group agreed last week to invest over SAR 1.2 bn to expand digital infrastructure and services at Red Sea Global’s destinations, an investment that ranks among the largest of its kind in the Kingdom’s tourism sector. The agreement aims to enhance customer digital experience and present Red Sea Global’s resorts and communities as smart global destinations.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

WORKFORCE-

Registration is now open for PIF’s Azm Program: The Public Investment Fund unveiled the Azm Program designed to upskill the national vocational talent to meet the PIF’s labor market needs and the wider Saudi economy, it said in a press release. The program is in partnership with the Human Resources Development Fund, the Technical and Vocational Training Corporation, Colleges of Excellence, and PIF-owned Roshn Group.

Application submission is now available via the program’s website. Participants will get hands-on experience in high-demand fields like construction project management, facility management, and health, safety, and environment. Upon completion, trainees will hold internationally recognized certificates and receive job offers from companies including Saudi Binladin Group, Muheel, Jasara, AlMabani, AECOM, Hassan Allam Holding, Famco, and Nesma.

DEVELOPMENT WATCH-

Development projects worth SAR 2.6 bn were inaugurated in Hafar Al-Batin Governorate on Wednesday by the Municipalities and Housing Ministry, state news agency SPA reported. The initiatives include a major rainwater and flood drainage system, alongside other municipal and investment projects.

AVIATION-

Budget airline flyadeal began direct flights to Damascus, launching three weekly services from Jeddah on 1 October and four from Riyadh the following day, according to a press release published on Friday.

CAPITAL MARKETS-

Three companies get the green light to manage investments: The Capital Markets Authority approved Asbar Alosool Capital, Asas Gulf Capital, and Arqaam Capital Financial to conduct managing investments activity in the securities sector, it said in separate statements on Thursday.

OpenAI’s soaring valuation triggers AI rally

OpenAI has become the world’s most valuable startup after a secondary share sale valued the company at USD 500 bn, overtaking Elon Musk’s SpaceX at USD 400 bn. The company was last valued at USD 300 bn in March, when SoftBank led a USD 40 bn round that included Abu Dhabi’s MGX.

The details: The latest transaction allowed staff and former employees to sell USD 6.6 bn worth of shares to investors including Thrive Capital, SoftBank, Dragoneer, MGX, and T. Rowe Price, the Financial Times quotes a source familiar with the matter as saying. The sale was heavily oversubscribed, with demand exceeding USD 10 bn. OpenAI had cleared up to USD 10 bn in stock for resale, but many employees opted to hold — a move insiders said reflected confidence in the company’s outlook.

The share sale highlights frenzied demand for AI, with investors speculating whoever comes out as the leader for the sector could eventually be worth USD tns. That optimism has been bolstered by Nvidia’s pledge last month to invest up to USD 100 bn in OpenAI to expand computing capacity.

Markets responded with a global rally: Chipmakers and tech indices added more than USD 200 bn in value in a single session, Bloomberg reports. South Korea’s SK Hynix jumped 10%, Samsung rose 3.5%, and the Kospi hit a record high. Taiwan’s TSMC and Hon Hai also climbed, as OpenAI entered into an agreement with South Korea’s SK Group and Samsung for the supply of chips for its Stargate initiative with Oracle and SoftBank.

Valuations are now stretched: The Philadelphia Semiconductor Index now trades at 27x forward earnings, close to last year’s peak, while Bloomberg’s Asia chip gauge stands at 19x. The Hang Seng Tech Index is up 50% YTD, also boosted by state support and corporate AI investment in China.

Analysts say the rally reflects fear of missing out. “Tech momentum shows no sign of fading [...] with headwinds brushed aside and every AI headline sparking bursts of euphoria,” Hebe Chen at Vantage Markets said. “Bubble talk lingers, but it’s FOMO that’s clearly running the show.”

Still, some warn valuations are running ahead of fundamentals, and any earnings stumble among mega-cap techs could trigger another sharp selloff, echoing April’s meltdown, JPMorgan Asset Management cautioned. “[Upcoming] fourth quarter earnings may force the reality check,” Chen added.

Not a problem for OpenAI? The company expects annual recurring revenue to hit USD 20 bn by year-end, up from USD 12 bn currently, FT reports, citing a person with knowledge of its finances.

TASI	11,496	-0.3% (YTD: -4.5%)
MSCI Tadawul 30	1,500	-0.4% (YTD: -0.6%)
NomuC	25,306	-1.1% (YTD: -19.6%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.75% repo	4.25% reverse repo
EGX30	3,679	+0.1% (YTD:+19.2%)
ADX	10,073	+0.1% (YTD: +6.9%)
DFM	5,918	0.0% (YTD: +14.7%)
S&P 500	6,716	0.0% (YTD: +14.2%)
FTSE 100	9,491	+0.7% (YTD: +16.1%)
Euro Stoxx 50	5,652	+0.1% (YTD: +15.4%)
Brent crude	USD 64.53	+0.7%
Natural gas (Nymex)	USD 3.32	-3.4%
Gold	USD 3,909	+1.1%
BTC	USD 122,297	+0.2% (YTD: +30.7%)
Sukuk/bond market index	917.28	+0.1% (YTD: +1.7%)
S&P MENA Bond & Sukuk	150.83	0.0% (YTD: +7.8%)
VIX (Volatility Index)	16.65	+0.1% (YTD: -4.0%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.3% on Thursday on turnover of SAR 6.5 bn. The index is down 4.5% YTD.

In the green: Sport Clubs (+5.2%), Almoosa (+4.4%) and Sisco Holding (+4.3%).

In the red: Bupa Arabia (-4.4%), Gaco (-3.2%) and Walaa (-2.9%).

THE CLOSING BELL: NOMU-

The NomuC fell 1.1% on Thursday on turnover of SAR 56.1 mn. The index is down 19.6% YTD.

In the green: Apico (+19.9%), Almohafaza For Education (+10.0%) and Fesh Fash (+7.8%).

In the red: Balady (-7.6%), Pro Medex (-7.5%) and Dkhoun (-7.3%).

CORPORATE ACTIONS-

The Capital Market Authority (CMA) greenlit Tabuk Agricultural Development’s 52.9% capital reduction to SAR 184.4 mn, it said in a disclosure to Tadawul. The SAR 207.4 mn capital decrease will see the firm cancelling some 20.7 mn share to extinguish the company’s accumulated losses. Tabuk Agricultural Development’s shareholders still need to vote on the move.

ALSO- The CMA gave the all-clear for Red Sea International Company to boost its capital via debt conversion, it said in a disclosure to Tadawul. The capital increase would involve converting SAR 476 mn of debt owed to creditors into equity in the company. The move is pending shareholder approval.

CALENDAR

25 September-19 December (Thursday - Friday) 2025 Saudi Toyota Championship.

28 September-1 January: Title deed registration for 54k properties in 77 neighborhoods across Riyadh, Makkah, and the Eastern Province.

OCTOBER

1-3 October (Wednesday-Friday): Saudi Green Building Forum, Riyadh.

1-3 October (Wednesday-Friday): FIBO Arabia 2025, Riyadh Front Exhibition & Conference Center.

2-11 October (Thursday-Saturday): Riyadh International Book Fair 2025, Princess Nourah Bint Abdul Rahman University.

5 October-8 January 2026: Title deed registration for 3.2k properties in Al Yasmin district, Hail.

6-8 October (Monday-Wednesday): Saudi Lifestyle Week, Riyadh International Convention & Exhibition Center.

7-8 October (Tuesday-Wednesday): Global EV & Mobility Technology (GEMTECH) Forum, Riyadh.

12 October-15 January 2026: Title deed registration for 31.7k properties in 14 neighborhoods in the Eastern Province.

12 October-15 January 2026: Title deed regiswatch tration for about 157.3k properties in 78 neighborhoods across the Eastern Province.

15 October (Wednesday): Russian-Arab Summit.

16 October (Thursday): Aviation Impact Middle East, Hyatt Regency Riyadh Olaya .

17 October (Friday): Saudization for private healthcare roles enters its second phase.

19-20 October (Sunday-Monday): Saudi Rail International, Riyadh Front Exhibition and Conference Center.

21 October (Tuesday): The Visual Arts Commission will hold a public talk and a live performance in Paris through Asia NOW under its Art & Ideas program.

21-22 October (Tuesday-Wednesday): Saudi Festival of Creativity (Athar), JAX District, Riyadh.

21-23 October (Tuesday-Thursday): Global Internet of Things Congress 2025 (GIoTC 2025), the Arena Venue, Riyadh.

22-23 October (Wednesday-Thursday): Private Capital Forum, Riyadh.

23-25 October (Thursday-Saturday): Zenos Wellness Summit, Bab Samhan Hotel, Riyadh.

24 October-1 November (Friday-Saturday): AlUla Wellness Festival.

26-27 October (Sunday-Monday): The Global Proptech Summit 2025, Mandarin Oriental Al Faisaliah, Riyadh.

27-30 October (Monday-Thursday): Global Health Exhibition, Riyadh Exhibition and Convention Center, Riyadh.

27-30 October (Monday-Thursday): Future Investment Initiative (FII9), King Abdulaziz International Conference Center (KAICC) and the Ritz-Carlton, Riyadh.

28-29 October (Tuesday-Wednesday): US Federal Reserve Open Market Committee meeting.

NOVEMBER

2 November (Sunday): Naming ASICS Innovation Pitch competition’s six finalists.

3-9 November (Monday- Sunday): WTA Tour Finals, Riyadh.

5-8 November (Wednesday-Saturday): Binam Forum 2025, Riyadh Front Exhibition and Conference Center.

5-9 November (Wednesday-Sunday): Jewellery Salon Expo, Riyadh.

7-8 November (Sunday-Monday): The Visual Arts Commission will conclude its Art & Ideas program with a two-day symposium in Riyadh.

8-9 November (Saturday-Sunday): Del Monte Superleague Supercup, Jeddah.

9 November (Sunday): The deadline for applications for the second batch of the Standard Incentives for the Industrial sector deadline.

10-12 November (Monday-Wednesday): BioFach Saudi Arabia, Riyadh International Convention & Exhibition Center.

11-13 November (Tuesday-Thursday): TouriseSummit, Riyadh.

16-17 November (Sunday-Monday): Jeddah Fintech Week 2025, Jeddah Hilton, Jeddah.

17-20 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre, Riyadh.

19-22 November (Wednesday-Saturday): PIF Saudi International Golf Championship, Riyadh Gold Club.

20 November (Thursday): Deadline for title deed registration for 14.6k properties across 21 neighborhoods in Qassim.

22 November (Saturday): The Ring IV, ANB arena, Riyadh.

23-26 November (Sunday-Wednesday): Saudi Food Exhibition and Conference, Riyadh.

23-27 November (Sunday-Thursday): Global Industry Summit by United Nations Industrial Development Organization, Riyadh.

24-26 November (Monday-Wednesday): The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh.

24-26 November (Monday-Wednesday): Metropolis Madinah Conference for civilizational capitals, King Salman International Convention Centre (KSICC), Al Madinah.

25-26 November (Thursday-Saturday): The Global Sustainability Expo, The Arena Riyadh Venue, Ghirnatah.

25-29 November (Thursday-Monday): General Aviation Airshow 2025 - Sand & Fun, Riyadh.

27 November (Saturday): Deadline for title deed registration for 8.7k properties in Jeddah’s Al Sheraa and Al Amwaj neighborhoods.

27-30 November (Thursday-Sunday): World Rally Championship Saudi Arabia 2025, Jeddah.

28-30 November (Friday-Sunday): UIM F1H2O World Championship, Jeddah.

30 November (Sunday): Zatca 21st E-invoicing integration wave deadline.

30 November-1 December (Sunday-Monday): FII Priority Asia Summit, Tokyo.

DECEMBER

1-3 December (Monday-Wednesday): Industrial Transformation Saudi Arabia, Riyadh International Convention & Exhibition Center.

1-4 December (Monday-Thursday): International Conference on Nuclear and Radiological Emergencies, Riyadh.

1-4 December (Monday-Thursday): 61st ISOCARP World Planning Congress, Riyadh.

7-9 December (Sunday-Tuesday): CoMotion Global 2025, Riyadh.

8-9 December (Monday-Tuesday): Digital Acceleration and Transformation Expo (DATE), JW Marriott hotel, Riyadh.

8-9 December (Monday-Tuesday): Climate Action and Renewable Energy (CARE), JW Marriott hotel, Riyadh.

9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

11 December (Thursday): Deadline for title deed registration for 214.2k properties across Riyadh and the Eastern Province.

25 December (Thursday): Deadline for title deed registration for 64.4k properties across neighborhoods in Madinah, Makkah, Riyadh, and the Eastern Province.

25-27 December (Saturday-Monday): The Fortune Global Forum 2025, Riyadh.

31 December (Wednesday): Zatca 22nd E-invoicing integration wave deadline.

31 December (Wednesday): Cancellation of Fines and Exemption of Financial Penalties Initiative by the Zakat, Tax and Customs Authority (Zatca) deadline.

December: Made in Saudi exhibition, Riyadh International Convention and Exhibition Center, Riyadh

2026

JANUARY

1 January (Thursday): Electronic salary transfer via the Musaned platform becomes mandatory for all domestic workers in the Kingdom.

13-15 January (Tuesday-Thursday): Future Minerals Forum, King Abdul Aziz International Conference Center, Riyadh.

20 January (Tuesday): SuperReturn Saudi Arabia, Hotel Fairmont, Riyadh.

18-21 January (Sunday-Wednesday): Saudi Hospital Design and Build Expo, Riyadh.

26-27 (Monday-Tuesday): GPRC Summit, Riyadh.

26-28 (Monday-Wednesday): Saudi Franchise Expo (SFE), Riyadh Exhibition and Convention Centre, Riyadh.

26-28 (Monday-Wednesday): Real Estate Future Forum, Four Seasons Hotel, Riyadh.

26-28 (Monday-Wednesday): IFAT Saudi Arabia, Riyadh Front Exhibition & Conference Center, Riyadh,

27-28 (Tuesday-Wednesday): SkyMove Air Cargo MENA, Riyadh.

28 (Wednesday): Data Center Nation Riyadh, Riyadh.

28-30 (Wednesday-Friday): Jeddah International Travel and Tourism Exhibition (JTTX), Jeddah.

FEBRUARY

2-4 (Monday-Wednesday): Saudi Media Forum, Riyadh.

2-4 (Monday-Wednesday): Women Leaders Summit and Awards KSA, Riyadh.

2-13 (Monday-Friday): 2026 Asian Road Cycling Championship and Paralympic Cycling, Qassim.

3-4 (Tuesday-Wednesday): RLC Global Forum Annual Meeting, Riyadh.

5-7 February (Thursday-Saturday): LIV Golf 2026 season opener, Riyadh Golf Club, Riyadh.

8-12 February (Sunday-Thursday): World Defense Show, Riyadh.

9-14 February (Monday-Saturday): Asian Racing Conference, Crowne Plaza Riyadh RDC Hotel & Convention Centre, Riyadh.

11 (Wednesday) Digital Transformation Summit Saudi Arabia (DTS), Riyadh.

11-14 (Wednesday-Saturday): JeddaDerm, Jeddah.

13-14 February (Friday-Saturday): Jeddah E-Prix 2026, Jeddah.

MARCH

21 March (Saturday): Fanatics Flag Football Classic, Kingdom Arena, Riyadh.

31 March (Tuesday): Zatca’s 23rd E-invoicing integration wave deadline.

APRIL

6 April (Monday): Procurement and Supply Chain Futures Forum, Al Faisaliah Hotel, Riyadh.

6-7 April (Monday-Tuesday): Real Estate Supply Chain Forum, Al Faisaliah Hotel, Riyadh.

12-15 April (Sunday-Wednesday): Saudi Print & Pack, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Riyadh International Industry Week, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Saudi Plastics & Petrochem, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Saudi Smart Logistics, Riyadh International Convention & Exhibition Center.

13-16 April (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.

20-22 April (Monday-Wednesday): The Future Hospitality Summit, Mandarin Oriental Al Faisaliah Al Faisaliah Hotel, Riyadh.

20-22 April (Monday-Wednesday): Saudi Paper and Packaging Expo, Riyadh International Convention & Exhibition Center.

21 April (Tuesday): GC Summit Saudi Arabia 2026, Saudi Arabia.

27-29 April (Monday-Wednesday): Aluminum Arabia, The Arena, Riyadh.

MAY

3-5 May (Sunday-Tuesday): Sports Investment Forum (SIF), Riyadh.

OCTOBER

26-29 October (Monday-Thursday): World Energy Congress, Riyadh.

Signposted to happen sometime in 2026:

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.
November: The Esports Nations Cup, Riyadh.
The Intervision international music competition will take place in Saudi Arabia.

Signposted to happen sometime in 2027:

The World Water Forum takes place in Riyadh.
The Ocean Race finishes in Amaala on the Red Sea.
Riyadh-Kudmi transmission line to be completed.

Signposted to happen sometime in 2Q 2027:

The Hail Region Water Networks Project is expected to be completed.

Sections

About

Privacy & Support

Get EnterpriseAM daily