Renewable energy growth, led by data centers

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WHAT WE’RE TRACKING TODAY

PIF-owned Jada expands private credit strategy for local markets

Good morning, wonderful people. It’s all quiet on the home front, with very little of note in the Kingdom. We lead our issue this morning with a deep dive into the intersection of renewable energy and AI and how the Middle East — particularly Saudi Arabia — could help solve for data centers’ power needs.

WEATHER- Dusty winds and scattered rain: Active winds will stir sand across Tabuk, Madinah, Makkah, and coastal areas, extending to the Northern Borders, Al Jouf, Hail, Qassim, Riyadh, and the Eastern Province. Scattered showers and patchy fog are expected over Jazan, Aseer, and Al Baha, with rain clouds also affecting parts of the north.

Riyadh: 31°C high / 14°C low;
Jeddah: 28°C high / 22°C low;
Makkah: 29°C high / 21°C low;
Dammam: 28°C high / 13°C low.

PSAs

Domestic Hajj sign-ups are open: The Hajj and Umrah Ministry opened registration for domestic pilgrims for this year’s Hajj yesterday, with package bookings to begin 4 March via the Nusuk app and website, state news agency SPA reports.

A refresher on the sign-up process: Priority will go to applicants who have not previously performed Hajj. Eligible Saudi citizens and residents aged 15 and above must meet health requirements, with expatriates required to hold a valid iqama issued at least one year ago. Bookings must be made through licensed providers listed on Nusuk, with payment completed via Sadad to secure the Hajj permit.

Watch this space

PRIVATE CREDIT — PIF-owned Jada Fund of Funds is ramping up its push into private credit to address a local financing gap. The firm is looking to focus on funds investing locally and will continue to target SME financing through private credit, CEO Bandr Alhomaly told Bloomberg. Jada has historically concentrated on venture capital and private equity to support small and medium-sized enterprises.

Jada’s strategy is designed to help close a widening funding gap for Saudi SMEs as banks pull back on lending. Jada, which has mainly backed companies through venture equity, is now turning to private credit to offer non-dilutive funding for startups that are too risky for banks but too mature for traditional VC.

BACKGROUND- Jada previously committed capital to private credit investments, including deploying USD 52 mn to a fund raised by US-based Partners for Growth and making an unspecified contribution to Ruya Partners’ USD 250 mn fund. The firm also partnered with India’s Stride Ventures last year to deploy about USD 200 mn in Saudi Arabia over the next two years.

INVESTMENT — GCC countries are in a risk-value sweet spot: While global capital is always seeking the best risk-adjusted returns, when comparing the GCC to similarly credit-rated risks, investors often find a “better pound for that money,” effectively gaining “developed market risk but for emerging market growth,” Brookfield Managing Partner Jad Ellawn told Bloomberg (watch, runtime: 6:27).

The drivers: GCC countries are benefitting from “exceptional tailwinds” driven by reform agendas, capital formation, and strong demographics. Ellawn attributed the region’s edge to strong fiscal buffers, accelerating diversification, capital markets that have “never been deeper,” and record institutionalization.

Geopolitical pressures fade in comparison to the long-term outlook: While geopolitical tensions persist, Ellawn dismissed them as a deterrent for sophisticated investors, noting that over 60 to 70 years, the GCC has consistently outperformed. “We're not investing for the short term. We don't look at arbitrage [prospects],” Ellawn stated, emphasizing a strategy of investing in sectors with “long tailwinds” to allow capital to “appreciate and compound” over time.

Sectors to watch: Ellawn sees AI infrastructure as a major global theme. The firm is also upbeat on financial services payments and education roll-ups, while using its real estate footprint to build hospitality ecosystems. With vacancy rates at all-time lows, he expects a shift toward more urban living, backed by a USD 1 bn residential JV and favorable demographics.

AUTO — Lucid predicts slower production growth: PIF-backed Lucid Motors expects to make 25k-27k vehicles this year, despite nearly doubling production to 17.8k in 2025, according to its unaudited financials. “Supply chains, in particular long supply chains like we have, are always prone to surprises[…] Let's be prudent. Let's make a plan that, whatever happens, so to speak, we can hit,” CEO Marc Winterhoff told Reuters.

ALSO- The luxury EV maker will prioritize producing its midsize vehicle in its Saudi plant, while deferring production in the US, Winterhoff said.

Also from the company’s financials: Lucid recorded a net loss of USD 2.7 bn last year, marking a 0.6% y-o-y dip. This came despite a 67.6% y-o-y jump in revenues to USD 1.4 bn, with interest expense and loss from operations keeping the company’s bottom line in the red.

Data point

The Public Investment Fund’s (PIF) holdings of US-listed equities reached USD 12.9 bn at the end of 2025, according to data from the US Securities and Exchange Commission. Uber accounted for the largest share of PIF’s Wall Street portfolio (USD 6 bn), followed by Electronic Arts (USD 5 bn) and Lucid (USD 2 bn).

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The big story abroad

The Netflix-Paramount-Warner Bros saga is once again in the headlines, with Warner Bros confirming that Paramount’s sweetened bid of USD 31 a share could beat out Netflix’s effort. If Paramount’s bid is deemed superior to Netflix’s, the streaming giant will have four business days to match it — so it is still anyone’s game. Paramount is also offering a USD 0.25 per share “ticking fee” for every quarter the transaction does not close after September 2026.

US President Donald Trump’s State of the Union address is on every front page. The speech lacked any substance, with the president touting his own success in bringing inflation down, creating jobs, and securing fresh investments. In typical Trump fashion, the speech had its fair share of inaccuracies and exaggerations, which NBC News fact-checked in real time. Markets were hoping the speech would bring some tariff clarity.

Making waves in the tech world this morning is a new agreement between Meta and Advanced Micro Devices. Meta is buying USD 60 bn worth of computing power, which will power its AI infrastructure over a five-year stretch starting 2H 2026. AMD issued Meta a warrant for up to 160 mn shares — approximately 10% of the company — at a strike price of just USD 0.01 per share, contingent upon Meta hitting specific milestones and AMD hitting a set stock price threshold.

ALSO WORTH READING THIS MORNING- A Harvard-led study found that a machine-learning algorithm can predict 71% of mutual-fund trading decisions after training it on data between 1990-2023. It appears that the algorithm has learned how managers react to trends, flows, and activity from their peers. That said, the algorithm failed to predict activities that fell outside the routine, which represents most of the value to be secured on the market.

Solving for AI’s power hunger

The Middle East is emerging as a major player in the global AI race as an answer to how to power AI at (green) scale, according to a DII report (pdf). While traditional tech hubs in the US and Europe are stalling due to grid congestion and decade-long permitting delays, the region is offering up a rare trifecta: Ultra-low-cost renewables, massive land banks, and a demonstrated ability to build at a speed Western markets can no longer match.

Data centers as Super Offtakers: In the old model, data centers were a real estate play. In the new MENA model, they are the anchor tenants for the energy transition. By locking in giga-scale power purchase agreements, hyperscalers like Microsoft and G42 are providing the long-term revenue certainty needed to make multi-bn-USD solar, wind, and hydrogen projects bankable.

Why it matters: In traditional hubs, grid congestion has led to moratoriums on new data centers. The Middle East is offering the "unmatched speed" that those hubs lack, using its lowest-cost solar and wind as a "new green currency" to attract energy-intensive AI workloads. Saudi Arabia’s rapid rollout of giga‑scale projects last year is a clear example of how quickly the region can move, DII director of research Chiara Aruffo tells EnterpriseAM.

The region’s competitive advantage begins with cost, offering some of the world’s lowest-cost solar and wind, and forming what the report calls a “new green currency” for attracting energy‑intensive industries. This is reinforced by the rapid development of green hydrogen hubs like Neom and Yanbu, where renewable power is being deployed at a giga‑scale. These hubs are not only producing clean fuels but also creating ideal zones for co‑locating data centers that require 24/7 clean energy.

Data centers can also help move green hydrogen forward. There’s a lot of debate around why green hydrogen isn’t scaling faster, and a big part of the challenge is finding single offtakers willing to commit to pure green hydrogen. But if you cluster multiple industries together and anchor them with a shared hub for renewables and hydrogen, you create an ecosystem that supports itself, Aruffo said.

Saudi Arabia is already laying the groundwork

Saudi Arabia is expected to lean heavily on renewable energy to quell data center demand. As the Kingdom pushes to become a regional hub for AI and cloud computing, operators could pivot toward integrated solar-and-battery solutions to manage the costly and massive power demands of data centers.

Ushering in operational reliability and cost management.

Solar energy-charged batteries could cover up to 99.5% of the basic demand required to power data centers at a cost of USD 70 mWh. By integrating large-scale battery energy storage systems (BESS), data center operators can mitigate the typical intermittency of solar power — locking down a steady energy flow during times of peak demand or nighttime hours.

REMEMBER- BESS capacity is expected to reach 8 GWh — four times the current capacity — by year-end, with the Kingdom targeting 48 GWh by 2030. Ramping up investments in BESS is necessary to maintain grid stability due to the intermittency of renewable energy supply, which relies on external sources such as solar or wind.

Solar energy stands out as the cheapest source of electricity in Saudi Arabia at some USD 15 mWh, according to Bloomberg NEF estimates. The integration of solar-powered battery storage systems to operate data centers could help create a more balanced capital equation where the operations offset the costs.

IN CONTEXT- Saudi Arabia’s National Renewable Energy Program (NREP) aims to generate 50% of its electricity from renewables by decade’s end under the Kingdom’s Vision 2030 to diversify the energy mix.

Background

Saudi Arabia dished out contracts for 20.2 GW of renewable energy capacity in 2025. The Kingdom awarded 15 GW renewable project power contracts to an Acwa-led consortium in July, in addition to 4.5 GW in contracts snapped up by the UAE’s Masdar, Samtah, and Al Sefan in October.

Already in motion: Acwa kicked off commercial operations for some 2.8 GW of solar energy from three of its projects in Saudi Arabia last August, as well as at its Saad 2 PV project in Riyadh.

Centralization for the W

Dual ownership structures in Middle Eastern sovereign wealth funds like PIF create a major advantage for large‑scale energy and infrastructure projects, Aruffo adds. Unlike the US, where government, regulators, and developers operate as separate and often disconnected entities, the Middle East benefits from a vertically integrated model. Sovereign wealth funds are government‑owned and frequently own the developers as well.

This centralized governance model gives the region a competitive edge in delivering mega‑projects at speed, reducing bureaucratic friction for strategic investors and enabling faster project execution. For hyperscalers evaluating global locations, this level of administrative efficiency is a powerful draw.

Humain rolls out Qualcomm Cloud AI 100 racks in new data center

PIF’s AI arm, Humain, began the physical build-out of its AI infrastructure, taking delivery of Qualcomm’s full-stack Cloud AI 100 racks for a new data center designed for large-scale AI inferencing and edge-to-cloud hybrid workloads, Middle East AI News reports.

SOUND SMART- An AI rack is a purpose-built server cabinet optimized for high-scale machine learning and generative AI workloads. Unlike general-purpose servers, these racks integrate specialized hardware to maximize processing power and efficiency, serving as the high-performance backbone for enterprise-grade AI infrastructure.

About the data center: Phase one of the data center will roll out over 1k AI accelerators, aiming for 200 MW capacity in 2026 and positioning it among the world’s largest Qualcomm implementations. Adobe is the facility’s first customer. Later phases may introduce Qualcomm’s AI200 and AI250 accelerators, boosting memory bandwidth and cost-efficient scaling for demanding generative AI workloads.

Humain + Qualcomm: The project builds on a May 2025 partnership between Humain and Qualcomm at the US-Saudi Investment Forum. Back in September, Humain launched its Horizon Pro AI laptop, which runs the ALLaM Arabic-first large language model locally on Qualcomm Snapdragon chipsets. Qualcomm is also planning to open an AI engineering center in Riyadh to support Humain’s data center rollout.

Humain’s 90-day blitzkrieg: Humain has made numerous AI-related moves in recent months, getting the ball rolling on the PIF’s strategic pivot away from capital-intensive real estate megaprojects and toward high-velocity technology. This includes a USD 1.2 bn financing framework to support up to 250 MW of data center capacity, acquiring a controlling stake in UK-based sports tech firm AI.IO, and taking a “significant” minority stake in xAI through a USD 3 bn Series E investment.

Jamjoom Pharma, Saudi German Health, Marafiq report 2025 earnings

Jamjoom Pharma Factory

Jamjoom Pharma Factory’s net income grew 30.1% y-o-y to SAR 463.8 mn in 2025 — beating Bloomberg analysts’ expectations of SAR 457.5 mn — a Tadawul disclosure showed. Revenue also rose 13.8% y-o-y to SAR 1.5 bn on stronger demand, solid volume growth across KSA, the Gulf, Iraq, and Egypt, new launches, and better supply chain execution.

Dividends: Jamjoom’s board greenlit the distribution of SAR 140 mn in interim dividends for 2H 2025 at SAR 2 apiece starting 15 March, according to a separate bourse filing. This brings the total 2025 dividend payout to SAR 280 mn, following 1H 2025’s SAR 140 mn.

Saudi German Health

Saudi German Health saw its net income jump 7.1% y-o-y to SAR 301.9 mn last year, driven by growth in the total number of inpatient and outpatient visits, greater bed capacity, and a one-off contract awarded by the Health Ministry, according to a disclosure to Tadawul. Meanwhile, revenue rose 7.6% y-o-y to SAR 3.1 bn.

Dividends:The company’s board recommended the distribution of SAR 46 mn in dividends at SAR 0.5 per share, according to a separate disclosure.

Marafiq

The Power and Water Utility Company for Jubail and Yanbu (Marafiq) saw its net income increase 25x y-o-y in 2025 to SAR 449.4 mn, according to a disclosure to Tadawul. The company said the jump came on the back of higher revenues from its subsidiary Tawreed, rising water and gas revenues, and recording a provision for expected credit loss. Meanwhile, revenues edged up 0.9% y-o-y to roughly SAR 6.9 bn.

Dividends:Marafiq’s board of directors announced a dividend payout of SAR 450 mn for 2H 2025 at SAR 1.8 per share, according to a separate disclosure.

Al Gassim Investment Holding taps new leadership

Al Gassim Investment named Abdulaziz Abdullah Mohammad Alhumaid as chairman, the firm said in a Tadawul disclosure. Alhumaid takes over from Abdulrahman Saleh Alhudheif, who has been chairman since 2023. The company also tapped Bader Hamad Alkadi as vice chairman, succeeding Rasheed Sulaiman Alrasheed.

Saipem’s Aramco contract, Asmo’s logistics hub, IsDB financing, and Riyadh Air’s Cairo route

Aramco awards Saipem USD 500 mn Safaniya project

Aramco taps Saipem again for offshore EPCI: Italian contractor Saipem landed a USD 500 mn offshore award in Saudi Arabia under its existing long-term agreement with Saudi Aramco. The work targets the Safaniya offshore oil field and covers full engineering, procurement, construction, and installation (EPCI) for a 48-inch trunkline stretching some 65 km offshore and 12 km onshore, plus associated subsea facilities.

This isn’t a one-off: Saipem has been embedded in Saudi Arabia’s offshore buildout for years under a long-term agreement with Aramco stretching through 2027, which keeps it on the shortlist for EPC work. In 2024, the contractor was awarded some USD 500 mn in offshore jobs across the Abu Safa, Berri, and Manifa oil fields, followed by roughly USD 1 bn covering the Marjan, Zuluf, and Safaniyah fields, and another USD 2 bn for Marjan alone.

Asmo kicks off first logistics hub at Spark with Arcapita

Asmo and Arcapita to develop 1.4 mn sqm logistics hub at Spark: Advanced Supply Management Operations (Asmo) — a JV between Saudi Aramco and DHL Supply Chain — partnered with Arcapita Group Holdings to develop a 1.4 mn sqm logistics facility at King Salman Energy Park (Spark) via a forward funding agreement, according to a press release.

The details: Arcapita will fund and own the asset, while Asmo will develop, lease, and operate it under a 22-year occupational lease. The project includes a 43k sqm temperature-controlled Grade-A warehouse, more than 3k sqm of offices, 5.3k sqm of chemical storage, and a 1.2 mn sqm open yard. The project marks Asmo’s first purpose-built hub — and one of four planned — serving Aramco, its affiliates, and other industrial players.

IsDB backs regional infrastructure with USD 2.4 bn financing

The Islamic Development Bank (IsDB) greenlit a USD 2.4 bn multi-country financing package covering energy, transport, and industrial expansion, state news agency SPA reports.

The package includes USD 1.3 bn for Kazakhstan’s economic and industrial zones, USD 436.7 mn for Azerbaijani irrigation and agricultural productivity improvements, USD 330.1 mn for Bahrain’s industrial land and infrastructure expansion, USD 160 mn for Jordan’s water supply and urban development, EUR 116 mn for Senegal’s Dakar Expressway, and USD 40 mn for Tajikistan’s CASA-1000 electricity project.

More than an aid package: This capital deployment is targeting the plumbing of trade in the region by supporting industrial zones in Bahrain and Kazakhstan while addressing more existential risks like water availability in Jordan and irrigation in Azerbaijan.

Riyadh Air is flying to Cairo

New national airline Riyadh Air is adding Cairo to its network, offering daily flights from Riyadh to the Egyptian capital on its new Boeing 787-9 Dreamliner, the airline said in a press release. The route, one of the world’s busiest with 2.7 mn passengers last year, is part of the airline’s initial expansion plan following the completion of its operational readiness phase. The announcement comes ahead of the delivery of the airline’s first aircraft.

Why it matters: Riyadh Air is entering a high-traffic Riyadh-Cairo corridor already dominated by lower-cost and established operators, including flynas, flyadeal, Saudia, and EgyptAir. Its premium positioning will have to fight for yield in a price-sensitive market.

More to come: The luxury carrier also plans to launch services to London and Dubai. To support this expansion, the airline introduced the Sfeer loyalty program for travelers, and it aims to expand its network to over 100 destinations by 2030.

Private equity’s return math just got tougher

The private equity industry gives the impression of a roaring comeback in 2025, with global buyout transaction value rising 44% to USD 904 bn and exit value climbing 47% to USD 717 bn, according to Bain & Company’s Global Private Equity Report 2026 (pdf). However, beneath the surface, the industry is experiencing a “K-shaped” recovery where a handful of elite funds are thriving while the broader market struggles with a severe liquidity crunch.

The rebound, however, has been uneven. The massive surge in 2025 transactions was not a broad market recovery — it was heavily concentrated. Just 13 “megadeals” valued at USD 10 bn or more accounted for 69% of the growth in transaction value last year, including the record-breaking USD 56.6 bn take-private of Electronic Arts. Outside of this elite bracket, the overall number of buyout transactions fell by 6% globally.

The industry’s most stubborn challenge is the mounting of aging, unsold assets. Private equity firms are currently sitting on roughly 32k portfolio companies representing a staggering USD 3.8 tn in unspent capital. Because firms are holding onto assets longer — an average of about seven years compared to the historic five or six — distributions back to investors have ground to a halt.

Distributions as a percentage of net asset value remained stuck at 14% last year. This marks the second-lowest level since the depths of the 2008 financial crisis, with the industry suffering four straight years of below-average distributions. The liquidity drought is directly impacted by the ability to raise new capital. Global buyout fundraising tumbled 16% last year to USD 395 bn, another fourth straight year of declines. 53% of LPs report being constrained from making new fund commitments because prior commitments have not yet been drawn down.

Easy money is over: Historically, firms relied on rock-bottom interest rates and expanding valuation multiples to generate returns. Under the old model, a firm only needed to grow a portfolio company’s EBITDA by about 5% annually to hit its return target. Today, borrowing costs sit in the %8–9% range, and purchase multiples are stubbornly flat. “Given where the interest rates and the entry and exit multiples are, you need to grow 12% each year for five years to get the same returns,” Rebecca Burack, head of global private practice at Bain, told Bloomberg, stating that “12 is the new 5.”

To achieve this aggressive 12% growth, the basis of competition has shifted. “What we’re experiencing... is a K-shaped recovery in a world where low prices, cheap debt, and easy multiple expansion are gone for the foreseeable future,” said Hugh MacArthur, chairman of Global Private Equity at Bain. Moving forward, the private equity players that attract capital will be the ones that can prove a repeatable, data-backed edge. “The [successful] firms will build systems, not slogans. They will invest in talent and AI, and move from full potential diligence to execution on Day 1,” MacArthur noted.

MARKETS THIS MORNING-

Asia-Pacific markets are a sea of green this morning, as investors expect US President Donald Trump’s speech to provide more clarity on trade policies. Korea’s Kospi is leading gains as chipmakers inch higher, with Japan’s Nikkei following closely behind. Over on Wall Street, futures are edging higher.

TASI	10,906	-0.7% (YTD: +4.0%)
MSCI Tadawul 30	1,480	-0.6% (YTD: +6.7%)
NomuC	23,096	-1.0% (YTD: -0.9%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	50,390	-0.9% (YTD:+20.5%)
ADX	10,638	0.0% (YTD: +6.5%)
DFM	6,669	-0.6% (YTD: +10.3%)
S&P 500	6,890	+0.8% (YTD: +0.7%)
FTSE 100	10,681	0.0% (YTD: +7.5%)
Euro Stoxx 50	6,117	0.0% (YTD: +5.6%)
Brent crude	USD 70.77	-1.0%
Natural gas (Nymex)	USD 2.94	+0.7%
Gold	USD 5,162	-0.3%
BTC	USD 64,069	-0.9% (YTD: -26.9%)
Sukuk/bond market index	925.01	+0.1% (YTD: +0.6%)
S&P MENA Bond & Sukuk	153.71	+0.2% (YTD: +1.2%)
VIX (Volatility Index)	19.51	-7.3% (YTD: +32.4%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.7% yesterday on turnover of SAR 4.0 bn. The index is up 4.0% YTD.

In the green: Care (+3.9%), SHL (+3.1%) and SSP (+2.7%).

In the red: Enaya (-10.0%), Sfico (-9.3%) and Alarabia (-6.9%).

THE CLOSING BELL: NOMU-

The NomuC fell 1.0% yesterday on turnover of SAR 15.7 mn. The index is down 0.9% YTD.

In the green: Almodawat (+12.2%), Sama Water (+9.7%) and Inmar (+9.6%).

In the red: Service Equipment (-11.5%), Multi Business (-11.4%) and Hamad Bin Saedan Real Estate (-9.1%).

CALENDAR

FEBRUARY

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.

25-27 March (Wednesday-Friday): Future Investment Initiative Institute, Faena Hotel, Miami Beach.

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, Mandarin Oriental 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 Hotel, Riyadh.

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

20-22 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh

22-23 April (Wednesday-Thursday): The World Economic Forum’s Global Collaboration and Growth Meeting, Jeddah.

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

28 April (Tuesday): GC Summit Saudi Arabia, Riyadh.

MAY

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

5-6 May (Tuesday-Wednesday): SkyMove Air Cargo MENA, Riyadh.

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

12-15 October (Monday-Thursday): World Energy Congress, Riyadh.

NOVEMBER

24-28 November (Tuesday-Saturday): Aero Middle East and Sand & Fun, Thumamah Airport, Riyadh.

Signposted to happen sometime in 2026:

2H: Sabic’s USD 6.4 bn Fujian project in China to start production;
November: The 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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