No more QFI rules for Tadawul

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WHAT WE’RE TRACKING TODAY

THIS MORNING: National Investment Strategy, phase II

Good morning, ladies and gentlemen. It’s safe to say the news cycle is officially kicking into full gear, with any remnants of holiday mode now entirely in the rearview mirror.

Capital markets are the theme of the day this morning, after the CMA announced that it’s opening the Tadawul to all foreign investors and scrapping rules currently in place to prove they were a “qualified” institution with at least USD 500 mn in AUM to get a QFI license. The move comes just days after TASI closed a market correction year, and could help nudge along a pipeline of IPOs. We also have the rundown of the themes of 2025 for TASI.

WEATHER- Light rain is expected in parts of Madinah, while dust and sand will affect Madinah, eastern Makkah, Al Baha, and Asir, reducing visibility in these areas. Fog may form overnight in southern Eastern Province. Winds will sweep over the Red Sea and Arabian Gulf, with thunderstorms and rain possible in the southern Gulf.

Riyadh: 21°C high / 7°C low.

Jeddah: 33°C high / 23°C low.
Makkah: 32°C high / 23°C low.
Dammam: 20°C high / 8°C low.

Watch this space

POLICY — A new phase of the National Investment Strategy set to be rolled out this year will focus on supporting SMEs and the local private sector, Investment Minister Khalid Al Falih was quoted as saying this week by Asharq Business. The new phase will be designed to expand the investor base by rolling out programs for several investor classes, while working on improving private sector access to talent, reducing business costs, and introducing essential financing solutions.

Our take: The new phase signals that Saudi is giving more attention to nurturing local productivity and quality, instead of a full focus on volume-driven growth. The Kingdom prepared for this increase in maturity of the local private sector by issuing a new investment law that levels the playing field between foreign and local investors and launching the Standard Incentives Program to boost industrial sector investments.

DESALINATION — The Water Transmission Company expects to award the EPC contract for the Ras Mohaisen-Baha-Makkah Independent Water Transmission System in 2Q, with April penciled in as the likely decision timeline, Zawya reports, citing an unnamed source. The company issued a request for proposals last year under a public-private partnership structure; bids are due by 5 February, and construction is scheduled to wrap by 4Q 2028.

Details on the kit: The project will move desalinated water to Makkah and Al Baha via a roughly 325 km greenfield pipeline, four pumping stations, and a maximum design flow of 542k cubic meters per day. It will be executed under a design, build, finance, lease, and transfer contract, with a lease term of up to 35 years.

The project grabbed some attention globally, with 31 firms from Saudi Arabia, the UAE, Kuwait, Egypt, Spain, the US, Japan, and India voicing their interest.

YEMEN — Yemenia Airways began direct flights between Socotra Island and Jeddah today to evacuate hundreds of stranded foreign tourists after air travel was suspended due to military escalation in Hadhramaut and Al Mahra, Al Arabiya reports. The flights mark the island’s first direct commercial link with the Kingdom and expands international access that was previously limited to Abu Dhabi.

Why it matters: The new weekly route signals that Saudi Arabia and Yemen’s central government are reasserting control over southern logistics following the territorial regain.

ICYMI- Flights stalled after a 90-day state of emergency declared by Presidential Leadership Council head Rashad Al Alimi in response to the Southern Transitional Council’s (STC) seizing Hadhramaut and Al Mahra — provinces Riyadh sees as a key security buffer. This prompted limited airstrikes by the Saudi-led coalition in Yemen on Mukalla port, followed by the recapture of the two provinces by Saudi-backed government forces.

Data point

53.4 mn — that’s the number of passengers Jeddah’s King Abdulaziz International Airport welcomed last year, setting a new record for Saudi airports and joining the global “mega-airport” club, state news agency SPA reports. The airport saw 310k flights and handled 60.4 mn bags during the year, up 12% y-o-y.

Oil watch

Saudi cuts crude prices across all regions for February: Aramco lowered the official selling prices for all grades to every major market, including Asia, Europe, and the US, Bloomberg reports. The move extends a third consecutive monthly cut for Asia — its biggest market — with the Arab Light premium reduced to USD 0.30 above the Oman / Dubai benchmark, while prices for heavier grades were also lowered.

IN CONTEXT- The cuts landed as Opec+ stuck to its plan to pause supply increases in 1Q. Benchmarks fell roughly 20% last year, with Brent logging its worst annual drop since 2020, as concerns over a global glut overwhelmed cartel discipline.

The signal: Across-the-board price cuts signal weaker demand than supply policy would suggest.

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The big story abroad

Uh, did the US just *literally* steal Venezuela’s oil? Oil tankers are moving from the US towards Venezuela to begin loading stranded Venezuelan oil after US President Donald Trump said Venezuela will hand over some 30-50 mn barrels of oil to the US. The sale of the cargoes could be worth around USD 3 bn at current prices.

What he said: “That money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States,” Trump wrote in a post on his Truth Social platform.

^^ The must-read on the topic: Trump: Venezuela to turn over 30-50 mn barrels of oil to US.

And the White House is now saying that military force is on the table in its bid to “acquire” Greenland. ““President Trump has made it well known that acquiring Greenland is a national security priority of the United States, and it’s vital to deter our adversaries in the Arctic region,” White House press secretary Karoline Leavitt said. “The president and his team are discussing a range of options to pursue this important foreign policy goal, and of course, utilizing the US military is always an option at the commander-in-chief’s disposal.”

Her remarks came after White House Deputy Chief of Staff Stephen Miller channeled his inner Balon Greyjoy, saying, “Nobody’s going to fight the United States militarily over the future of Greenland. … We live in a world, in the real world … that is governed by strength, that is governed by force, that is governed by power. These are the iron laws of the world since the beginning of time.” See more in the New York Times and the FT.

Closer to home:

The Qatar Investment Authority participated in Elon Musk’s xAI’s USD 20 bn series E funding round, alongside Nvidia and Cisco. (Reuters)
Clashes between civilians and police in Iran amid a wave of protests that took the country by storm as of last week have left 29 dead and more than 1.2k people arrested. (Bloomberg)

Regulator opens Tadawul to all foreign investors, scraps QFI rules

The qualified foreign investor (QFI) era will come to an end in Saudi markets on 1 February. The Capital Market Authority (CMA) announced yesterday that Tadawul’s main market will be open to direct investment by all categories of foreign investors. Any foreign investor — institution or individual, resident or non-resident — will be able to open an account and trade directly on TASI in three weeks’ time. You can check out the detailed amendments here (pdf) and here (pdf).

What has changed? Previously, foreign investors needed to prove they were a “qualified” institution with at least USD 500 mn in AUM to get a QFI license, or rely on swap agreements to get exposure without voting rights. The new rules explicitly repeal the section that required non-residents to use swaps for exposure, stating simply: “Foreign natural and legal persons… may invest in all listed securities.” Swaps will remain for derivatives strategies, but they are no longer the price of admission for the main market.

The catch: While access is now universal, ownership is still capped. Despite last year’s announcement by the CMA that foreign ownership limits might be eased, the approved rules still retain two core restrictions: Any single non-resident investor still cannot own 10% or more of a listed company, and aggregate foreign ownership in any single company is still strictly limited to 49%. Analysts estimate that a full removal of the cap could unlock some USD 10 bn of passive inflows.

Why it matters

The QFI framework was a training wheel — a mechanism designed to let foreign capital in slowly, allowing regulators to monitor exactly who was buying. By scrapping it, the CMA is signaling that the Saudi market infrastructure is now robust enough to handle open flows. The regulator is showing it’s comfortable with foreign money, but still cautious about foreign control (or at least until further notice). So far, the decision to scrap the access barriers (QFI) while keeping the ownership caps creates a clear distinction: You are welcome to profit from the Saudi growth story, but you can’t own the shop.

Our take

This preps the market for the 2026 pipeline: With a heavy pipeline of IPOs anticipated, the Kingdom needs to deepen the pool of available capital. Opening the floodgates to non-institutional foreign money is the quickest way to boost liquidity and support valuations without ceding strategic control of listed assets. Saudi Exchange CEO Mohammed Al Rumaih says 40 companies have already filed applications for IPOs going into 2026, while the broader pipeline expands to as many as 100 firms including companies now tapping advisers.

What’s next

The next three weeks will be a stress test for the banks: Local brokers and custodians have until 1 February to update their compliance systems to onboard a class of investor (the non-resident retail foreigner) that essentially didn’t exist in their systems yesterday.

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

SGP earmarks SAR 3.5 bn for Dammam’s King Abdulaziz Port by 2030

Saudi Global Ports (SGP) plans to plug SAR 3.5 bn into Dammam over the next five years in a bid to snap up a larger share of the transhipment cargo market from the UAE, Chief Executive Rob Harrison told Arabian Business. The investments will span Dammam Port and zones to create a hub capable of competing with established Emirati peers, Harrison said, noting the success of Jebel Ali and Khalifa Port as models for building regional logistics hubs.

The breakdown: The firm has earmarked SAR 2 bn for the development of container terminals, which are expected to account for up to 85% of its topline. On top of this, SAR 665 mn is allocated to the upgrade of equipment at existing multipurpose terminals, while the remaining SAR 670 mn will go toward the company’s Dammam integrated logistics park.

Why Dammam?

Dammam Port is nestled only some 400 km from Riyadh — a core node in the country’s diversification effort — giving it a leg up in comparison to its counterpart Jeddah Port on the Red Sea coast, which sits 1k km away from the Kingdom’s capital. Cargo entering the Kingdom from Jebel Ali or Khalifa Port also faces a 1k km journey, on top of a border crossing. Saudi Global Ports also currently operates five to seven daily rail services between Dammam and two locations in Riyadh.

Why it matters

The move looks to capture a larger portion of cargo flowing through the GCC, specifically putting Saudi Global Ports in competition with UAE ports. To do this, Dammam’s King Abdulaziz Port needs to substantially ramp up its handling capacity, which currently stands at just under 3.9 mn TEUs. This falls well behind the UAE’s leading heavyweights, with Jebel Ali boasting a 19.3 mn TEU capacity in 1H 2025 and Khalifa Port’s standing at 9.6 mn TEU.

Our take: Emerging strong because of, not despite, volatility

SGP appears to be taking stock of the lessons learned over the last two years, in which deeper integration of logistics and industrial services emerged as a critical tool for port operators to hedge against shipping volatility.

Leveraging new routes for global shipping: The port operator ran at 122% capacity in 2024, as its ports served as an alternative stop for container ships diverted around the Cape of Good Hope. “We’ve benefited from having more volume but the real strategic benefit is that we’ve been able to show we are a viable supply chain routing,” Harrison explained.

Logistics providers are routing containers through Dammam via rail rather than through Jeddah or UAE ports, a trend that is backed by the growing number of warehouses popping up on the Kingdom’s east coast and in Riyadh.

TASI’s 2025 correction marked the end of the easy money trade

The Tadawul All Share Index (TASI) didn’t just stumble in 2025; it underwent a fundamental repricing. The index shed 1.6k points to close the year at 10.49k — a 12.84% decline that marks its steepest annual drop since the oil price crash of 2015. The total value of shares traded during 2025 came in at SAR 1.29 tn, down 30.24% from 2024. The year closed at a market cap of SAR 8.8 tn, down 13.55% y-o-y.

What went wrong

The 2025 market correction was driven by a perfect storm of fundamental and regulatory headwinds, including falling Brent crude prices and delays in some gigaproject phases.

Heavyweights bore the brunt: Brent crude’s 19% decline weighed on energy stocks, while delays and scaling back of certain gigaproject phases rattled construction and materials, forcing investors to reassess the decade-long growth assumptions.

Speculation over foreign ownership caps fueled a short-lived 3Q rally, only for positions to unwind once the Capital Market Authority clarified no review is planned until 1Q 2026, according to CI Capital KSA CEO Fahd Al Tarzi. The amended White Land Tax also forced ultra-high-net-worth investors to liquidate holdings, he added.

The primary drag came from Saudi Aramco and Sabic. Despite Aramco’s sporadic rallies, the energy sector closed the year down 15% (with Aramco also seeing its share price falling 15% by the end of 2025), while materials shed 11%. These two giants effectively imported global demand weakness into the local index.

Conversely, banking heavyweights acted as a dam holding back the flood. Al Rajhi Bank and SNB kept the banking sector’s head above water. This came on the back of the domestic sector acting as the primary financing engine for Vision 2030, where corporate lending for gigaprojects offset weaker consumer sentiment and shielded earnings from broader economic headwinds. While debt-heavy sectors like utilities wobbled under financing costs, banks remained resilient due to strong asset quality and double-digit loan growth, which sustained their earnings even as interest rates began to shift late in the year.

But the only true alpha came from STC, which drove the telecom sector to be the sole gainer of the year (+10%), proving that in a market stripping out risk premium, the only safe haven was the defensive cashflow of digital infrastructure.

Sea of red

The psychological floor fell out of the primary market despite TASI welcoming 15 new companies. The warning signs flashed early with the listing of Nice One Beauty in January, which — despite being touted as a tech unicorn — became the poster child for the market’s new valuation sensitivity, shedding nearly 49% of its IPO price by year-end.

And the pattern didn’t let up: United Carton Industries dropped 51.43% compared to its IPO price, and Entaj fell 43.3%, just to name a few. Even sports clubs — which popped on their debut in an exciting year where Saudi saw its first IPO of sports clubs — closed the year slightly in the red. In fact, of the 250 listed companies, only 26 managed to end the year in the green. We saw one main market IPO cancellation last year by EFSIM Facilities Management.

The silver lining: Issuers raised roughly USD 4.5 bn across the main market and Nomu in 2025, the strongest year for IPO proceeds since 2022, led by PIF-backed airline flynas and Mecca developer Umm Al Qura.

Nomu wasn’t spared

The NomuC index, which had climbed 28% in 2024, reversed course dramatically, shedding over 8k points to close near the 23.3k level — a roughly 26% drop.

The cancellation wave was unprecedented: Five Nomu IPOs were scrapped due to incomplete offerings, while three others saw their CMA approval windows expire. This churn signals a massive flight to quality; investors are no longer willing to fund small-cap growth stories with unclear paths to profitability. KDL Logistics defied the gloom with a 102% coverage, riding the wave of infrastructure and logistics spending that remains the government’s priority.

Are we going to see that wave reversed? Saudi Exchange CEO Mohammed Al Rumaih says 40 companies have already filed applications for IPOs going into 2026, while the broader pipeline expands to as many as 100 firms, including companies now tapping advisers.

Looking ahead to 2026

Global investors are heading into 2026 with little appetite for Saudi equities, with several major fund managers telling Bloomberg that softer oil prices, sluggish earnings expectations, and a lack of clear catalysts are keeping them on the sidelines. Meanwhile, Kamco Investment’s Junaid Ansari said the market looks “oversold,” with market price volatility suggesting that the market is more prone to move upward than downward. He also suggests that concerns about oil are overdone and that there’s upside for the banking sector, driven by robust lending and earnings growth

Lenovo names Tareq Alangari as SVP and president of Middle East, Turkey, and Africa operations

Lenovo appointed Tareq Alangari (LinkedIn) as senior vice president and president of its Middle East, Turkey, and Africa business, it said in a press release. Alangari will lead the wider regional portfolio from Lenovo’s new headquarters in Riyadh’s Al Majdoul Tower, established last August.

Why this matters: The move comes exactly a year after Public Investment Fund’s Alat closed a USD 2 bn strategic investment in the PC and server maker, giving Alat a 12% stake. The investment is predicated on deep localization, where Lenovo is bringing a clean energy-powered manufacturing hub — set to go online this year — to produce Saudi-made PCs and servers.

The bench: Alangari joins a C-suite bench steering Lenovo’s localized strategy in the Kingdom, including Lawrence Yu (head of RHQ), Giovanni Di Filippo (VP for Saudi Arabia), and Zoran Radumilo (CTO for Saudi Arabia).

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

Mesc renews credit facility + Sdaia launches world’s largest government data center

Mesc secures SAR 150 mn funding from Alinma

Middle East Specialized Cables (Mesc) renewed SAR 150 mn shariah-compliant credit facility with Alinma Bank, it said in a Tadawul disclosure. The updated agreement, which increases the original facility by SAR 50 mn, runs until the end of August 2028 and is backed by a SAR 165 mn promissory note. The cable manufacturer will use the funds to support working capital needs and secure bank guarantees.

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

Sdaia launches the world’s largest gov’t data center

The Saudi Data and Artificial Intelligence Authority (Sdaia) launched Hexagon, a 480 MW data center, in Riyadh, state news agency SPA reports. Spanning 30 mn sq ft, the Tier IV facility — touted as the world’s largest government-owned data center — signals Riyadh’s intent to own critical, physical AI infrastructure rather than relying solely on the private hyperscalers currently entering the market.

The facility is built to handle high-density AI computing in the desert climate, utilizing direct liquid cooling and renewable energy sources to meet LEED Gold sustainability standards. Sdaia projects the centralised infrastructure will generate SAR 10.8 bn in local economic impact and cut government operating costs by SAR 1.8 bn annually.

Flyadeal anchors in Madinah with five new routes

Flyadeal launched its fourth operational base in Madinah, it said on LinkedIn. The budget carrier expanded its Madinah operations by launching five new routes from Prince Mohammad bin Abdulaziz International Airport — including Istanbul and four domestic links — bringing the airline’s total destinations from the holy city to 88 weekly flights.

Why it matters: The move signals a strategic push to centralize Saudi aviation infrastructure beyond Riyadh-Jeddah-Damman, allowing flyadeal to capture more point-to-point religious tourism traffic without routing through main hubs. By basing assets directly in Madinah, the carrier secures the operational flexibility to rapidly scale frequencies for Umrah pilgrims — a key pillar of its plan to triple its network and reach a fleet size of 100 aircraft and 100 destinations by 2030.

What Venezuela means for regional oil + where the risk actually went

The usual script of conflict driving oil shock has been flipped, with markets barely moving after the US capture of Venezuela’s Nicolas Maduro. Brent rose only about USD 1 / bbl, with analysts noting that in a supplied global market, Venezuela’s turmoil poses little immediate threat to output. That muted reaction reflects the reality that oil markets are in oversupply — with or without Venezuela. The International Energy Agency has been sounding the glut alarm for months, saying that supply is set to exceed demand by some 4 mn bbl / d this year.

Even under optimistic scenarios, new barrels would take years to materialize. JPMorgan sees Venezuelan production reaching 1.3-1.4 mn bbl / d within two years and up to 2.5 mn bbl / d over a decade, with a limited market impact — roughly USD 4 / bbl downside to 2030 prices.

While global markets are broadly unmoved, the outlook for our neck of the woods is mixed. With uncertainty on how the long-term movements will shake out, Egypt, Saudi Arabia, and the UAE will each have different angles to watch for.

Who wins and who bleeds

For Egypt, it’s cheaper crude and fiscal breathing room: Every USD 5 / bbl drop in Brent cuts subsidy costs by roughly EGP 30 bn, easing fiscal pressure in the near term, according to CI Capital calculations. Energy subsidies still make up about 90% of total subsidies, but that share is set to fall to some 30% by this year as price liberalization continues.

A sharp drop in Brent would hit Saudi Arabia hard: Lower prices would squeeze fiscal capacity, drain liquidity, and weigh on sentiment. Saudi’s fiscal breakeven sits around USD 87 / bbl, according to CI’s estimates, leading to more strain on public finances and heavier reliance on external borrowing. That’s still far higher than the USD 60 / bbl range we’re currently sitting at.

Balance for the UAE: The country offers stability through low breakeven and diversified revenue — the reason why it remains a credit market darling. Non-oil activity makes up roughly 75% of GDP, and the fiscal breakeven oil price sits near USD 48 / bbl.

A narrow window?

Venezuelan barrels don’t compete head-on with most Middle Eastern crude. They’re heavy and sour, putting them in a different lane than the light and medium grades that dominate Gulf exports. Refineries that want Venezuelan crude are highly specialized, and are mostly in the US.

This opens the door for US refiners to take in more Venezuelan crude — easing reliance on pricier Canadian heavy barrels. The flipside is that barrels would likely be pulled away from China, which has taken most of Caracas’ exports since US sanctions kicked in.

Those volumes are marginal in China’s overall balance and easy to replace — and replacement matters. If Venezuelan barrels are directed to the US, China will have to look elsewhere, and the most obvious substitute is the Middle East.

The window: Saudi Arabia and Iraq sell some heavier grades that can be snatched up by China, with Middle Eastern producers still having the edge on logistics, reliability, and scale. Venezuela’s supply is constrained, operationally messy, and politically fragile.

The macro view: Where the risk actually went

Capital moved first into credit: After Vice President (and former Oil Minister) Delcy Rodriguez was sworn in as interim president, investors wasted no time piling into Venezuelan assets. The government’s and the state oil company’s defaulted sovereign bonds surged some 30% in a single day as regime-change hedges went into overdrive.

Equities followed: Big refiners such as Marathon Petroleum and Phillips 66 jumped 5-7%. Oilfield services — the ones who actually drill — outperformed with SLB and Halliburton surging 7-8%. Majors also moved, with ExxonMobil, Chevron, and ConocoPhillips gaining 2-4%.

The move effectively puts oil collateral pledged to China in “US hands,” weakens Russian oil’s strategic relevance, and creates a long runway for US refiners and oil-services firms, Micheal Burry, the Big Short investor, said. Valero — whose Gulf Coast refineries were built for Venezuelan heavy crude — jumped some 10%, with Burry doubling down on the stock.

Why this matters: It marks a shift in how markets price geopolitical risk, which had been largely absent from commodity markets during the glut. A decade ago, the ouster of an Opec strongman might have sent oil prices skyrocketing, but defaulted bonds are in demand and energy stocks are rallying, while oil itself yawns. Traders see Venezuela’s upheaval as a credit-and-equity play — rather than a supply disruption to panic over — migrating the risk premium away from commodities and into market assets.

MARKETS THIS MORNING-

It’s back to a mix of red and green for Asia-Pacific markets this morning, weighed down by defense stocks falling after two days of gains. South Korea’s Kospi is trading up, while most other markets are in the red in early trading. Meanwhile, US stocks rallied to record highs overnight but futures are currently trading flat.

TASI	10,291	-0.3% (YTD: -1.9%)
MSCI Tadawul 30	1,368	-0.2% (YTD: -1.4%)
NomuC	23,328	+0.4% (YTD: +0.1%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	41,543	+2.1% (YTD: -0.7%)
ADX	9,996	+0.5% (YTD: 0.0%)
DFM	6,183	+0.9% (YTD: +2.2%)
S&P 500	6,945	+0.6% (YTD: +1.5%)
FTSE 100	10,123	+1.2% (YTD: +1.9%)
Euro Stoxx 50	5,932	+0.1% (YTD: +2.4%)
Brent crude	USD 60.70	-1.7%
Natural gas (Nymex)	USD 3.43	+2.3%
Gold	USD 4,493	0.0%
BTC	USD 93,450	-0.4% (YTD: +6.8%)
Sukuk/bond market index	919.55	-0.2% (YTD: 0.0%)
S&P MENA Bond & Sukuk	151.71	0.0% (YTD: -0.1%)
VIX (Volatility Index)	14.75	-1.0% (YTD: -1.7%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.3% yesterday on turnover of SAR 3.6 bn. The index is down 1.9% YTD.

In the green: Amak (+7.8%), EIC (+6.2%) and Maaden (+5.7%).

In the red: Burgerizzr (-8.1%), Bahri (-5.6%) and NCLE (-5.4%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.4% yesterday on turnover of SAR 16.7 mn. The index is up 0.1% YTD.

In the green: Sign World (+9.9%), Multi Business (+9.9%) and Knowledge Tower (+7.8%).

In the red: Mayar (-9.4%), Food Gate (-9.1%) and Smile Care (-7.9%).

CORPORATE ACTIONS-

Ban Holding Group got the Capital Market Authority greenlight to raise its capital by 97% to SAR 619.97 mn via issuance of up to 304.97 mn new ordinary shares, according to a statement from the authority. The SAR 304.97 mn capital increase will fund the purchase of a real estate asset from Al Oula Real Estate Development and three assets from Abdul Mohsen Abdul Aziz Al Hokair Holding Group.

CALENDAR

JANUARY

10-18 January (Saturday-Sunday): Public school mid-year break.

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

15 January (Thursday): Title deed registration deadline for 31.7k properties in 14 neighborhoods in the Eastern Province.

15 January (Thursday): Title deed registration deadline for about 157.3k properties in 78 neighborhoods across the Eastern Province.

15 January (Thursday): Title deed registration deadline for about 41.7k properties across 115 neighborhoods in Riyadh, Qassim, and the Eastern Province.

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

26-27 January (Monday-Tuesday): SuperReturn Saudi Arabia, Hotel Fairmont, Riyadh.

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

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

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

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

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

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

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

FEBRUARY

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

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

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

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

4 February (Wednesday): Michelin Guide’s Restaurant Celebration, Four Seasons Hotel, Riyadh.

5 February (Thursday): Deadline to submit bids for EPC contract for Ras Mohaisen-Baha-Makkah Independent Water Transmission System.

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

8-12 February (Sunday-Thursday): World Defense Show, Riyadh International Convention and Exhibition Center, Riyadh.

8-9 February (Sunday-Monday): AlUla Conference on Emerging Market Economies (ACEME), Maraya Hall, AlUla.

9-10 February (Monday-Tuesday): Global Games Show Riyadh 2026, Malf Hall, Riyadh.

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

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

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

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

15-17 February (Sunday-Tuesday): The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh Front & Exhibition Center.

16 February (Monday): King Salman Stadium design-and-build contract prequalification submission deadline.

16 February (Monday): First day of Ramadan (TBC).

22 February (Sunday): Founding Day.

26 February (Thursday): Title deed registration deadline for 142.8k properties across 104 neighborhoods in Hail.

MARCH

12 March (Thursday): Deadline for real estate registration for 253.2k properties in 499 neighborhoods across Riyadh, Qassim, Makkah, and Hail.

18-23 March (Tuesday-Monday): Eid Al-Fitr holiday (TBC).

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.

3-9 May (Sunday-Sunday): The Global Sustainability Expo, The Arena Riyadh Venue.

24-28 May (Sunday-Thursday): Eid al-Adha holiday.

JUNE

21-24 June (Sunday-Wednesday): Saudi Food Exhibition and Conference, Riyadh Front Expo.

SEPTEMBER

15-17 September (Tuesday-Thursday) The Global AI Summit, King Abdulaziz International Convention Center, Riyadh.

23 September (Wednesday): Saudi National Day.

OCTOBER

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

Signposted to happen sometime in 2026:

2H: Sabic’s USD 6.4 bn Fujian project in China to start production in 2026.
November: 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.
6 July-23 August (Monday-Sunday): Esports World Cup, Riyadh.

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.

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