A project award plunge

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WHAT WE’RE TRACKING TODAY

PIF board gathers in Tyneside for Newcastle review

Good morning, wonderful people, and happy THURSDAY to you all. We have a bit of a push-and-pull morning for you today as we wrap up the week. New data from Kamco Invest shows Saudi project awards hitting a near five-year low as regional tensions and gigaproject reviews take their toll. Meanwhile, tackling the people's infrastructure, EFG Hermes has officially launched its regional K-12 brand, MindSpire Education.

Riyadh to Mumbai. Abu Dhabi to Singapore. Dubai to London. Cairo to Shenzhen.

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PSAs

The Saudi Ports Authority (Mawani) is allowing importers and exporters to release goods from port terminals before settling storage fees, provided a valid electronic release permit is issued, it said on X. However, the storage fees must be settled within 15 days of the invoice date.

Watch this space

SPORTS — The PIF lens shifts to Newcastle: Public Investment Fund head Yasir Al Rumayyan is in the UK to lead a 25-member delegation for Newcastle United’s — which is majority-owned by the fund — two-day annual board-level “off-siting” meetings, where the club’s long-term strategy and short-term performance will be reviewed, the New York Times reports.

On the agenda: The meetings will decide whether to expand the club’s existing St James’ Park stadium or build a new one, alongside plans for a new training facility.

But the PIF hasn’t been too fond of sports lately: The meetings come amid speculation about a reassessment of Saudi sports investment priorities, including potential changes to funding for major international projects, as well as reports that the PIF is pulling the plug on LIV Golf and that Saudi Arabia is stepping back from events such as the Next Gen ATP and WTA Finals.

TECH — Cloudsdcs, a UK-based cloud and cybersecurity firm, has expanded into Saudi Arabia with AstroLabs’ support to serve enterprise and government clients. As an AWS Advanced Consulting Partner, it will provide cloud migration, AI and machine learning services, managed services, and sovereign cloud deployments, mainly targeting regulated sectors such as finance, healthcare, and the public sector.

AWS builds it, consultants queue for it: Cloudsdcs’ entry into the market comes ahead of the launch of the USD 5 bn AWS-Humain AI Zone. It’s part of a new wave of specialized consultancies entering the Kingdom to support compliance and cloud integration ahead of the new AWS region.

DISRUPTION WATCH —TotalEnergies partiallyresumed operations at the Satorp refinery in Jubail after it was shut down following a series of attacks on the Kingdom’s energy infrastructure earlier in the month, which damaged parts of the facility. The attacks affected three units and prompted a precautionary shutdown. Undamaged units were gradually restarted, and by mid-April, the refinery was operating at half of its 460k bbl / d capacity.

Oil watch

It’s business as usual at Opec: Opec+ is expected to raise oil output quotas by roughly 188k bbl / d when members meet on Sunday, three unnamed sources told Reuters. The move reflects a ‘business as usual’ approach to the oil group’s strategy in light of the UAE’s exit this week, one of the sources told the newswire.

The context: The expected hike comes at a time when the oil cartel’s production is hampered by the blockaded Strait of Hormuz, which resulted in its crude output declining by a record 7.6 mn bbl / d in March. Opec+ had decided to boost oil output by 206k bbl / d for May earlier this month — a symbolic decision given the logistical hurdles — including the now-departed UAE’s share.

What does the UAE’s exit from Opec mean for energy prices? Predictions roll in. US President Donald Trump believes the move will lower energy prices, Bloomberg reports. “It’s a good thing for getting the price of gas down, getting oil down, getting everything down,” Trump said.

Moscow agrees: Russia’s Finance Minister made a similar argument, saying that the exit will prompt the oil cartel to boost production, which will bring down energy prices in the future.

Others are less optimistic: Goldman Sachs predicts the exit will trigger greater upside risk to oil supply in the medium term, given that UAE crude production is set to reach 3.8 mn bbl / d by October 2026.

Brent hit a multi-year high overnight: The global benchmark surpassed the USD 120 per barrel mark in the early hours of the morning, briefly hovering at around USD 122 — its highest level since 2022 — before easing. This followed reports of a prolonged US naval blockade on Iran.

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The big story abroad

Jay Powell’s final Fed meeting as chair was an unremarkable one, with the US central bank holding rates in line with market expectations. A divided Federal Reserve kept the policy rate in the 3.50%-3.75% range — four policymakers voiced their dissent, a level of division unseen since 1992. The bank cited persisting inflation and rising energy prices for the move, pointing to a “high level of uncertainty” stemming from the US-Iran war.

Powell may be stepping down as chair, but he’s not leaving the Fed just yet. After his term as chair comes to an end on 15 May, he will “keep a low profile as a governor” for an indefinite period, preventing President Donald Trump from clinching a majority on the Fed’s Board of Governors. Powell has expressed concern for the institution’s independence and transparency as he came under attack from Trump in recent months.

Who’s next? Trump-nominated Kevin Warsh will likely take on the mantle of chair in time for the Fed’s meeting in mid-June.

Meanwhile, in the tech world: AI startup Anthropic is reportedly exploring a new funding round that would propel its valuation beyond the USD 900 bn mark. If successful, the move would push the company’s valuation past that of rival OpenAI.

ALSO- The AI spending boom is alive and well. Tech giants Amazon, Google, Microsoft, and Meta poured around USD 130 bn into capital expenditures, with the lion’s share of that investment fueling data center infrastructure required to power AI.

Scaled back

Saudi project contract awards fell to their second-lowest quarterly level in more than five years in 1Q 2026, dropping 51.1% y-o-y to USD 11 bn, according to Kamco Invest’s GCC Projects Market Update (pdf). The slowdown reflects scaled back gigaprojects activity and the fallout from the US and Israel’s war on Iran, which rattled regional markets.

Awards were down across four of Saudi Arabia’s eight project sectors, extending a weaker run that began in 2025 as gigaproject momentum eased and regional instability due to the US-Iran conflict deepened.

REMEMBER- The Saudi government recently scrapped several gigaproject-related contracts, including USD multi-bn contracts to build a freshwater lake at Trojena and a USD 1 bn tunneling contract at Neom’s The Line, while construction at the Mukaab has also recently been halted. The scrapped contracts come as the Kingdom began scaling back Neom following a comprehensive review after years of delays, design challenges, and cost overruns.

The sector breakdown: The downturn was led by construction, where awards dropped 64.4% y-o-y to USD 3.4 bn, followed by water, which fell around 85% y-o-y to USD 729 mn. Gas awards dropped to just USD 16 mn and power to USD 148 mn, while the oil sector saw only USD 800 mn of contracts awarded. Chemicals defied the trend, posting the largest absolute increase as awards rose from zero in 1Q 2025 to USD 2.5 bn.

The regional picture

Saudi Arabia was not alone: Total contract awards across the GCC fell 9.7% y-o-y during the quarter to a combined USD 61.2 bn. Along with Saudi Arabia, the UAE drove the downward trajectory, with contract awards dropping 18.5% y-o-y during the quarter to USD 29.2 bn. Bahrain sustained the steepest drop in percentage terms (-87%) but it accounts for the smallest value of awards in the GCC, which helped to mitigate its impact.

It was a better quarter for Kuwait and Qatar, with Kuwait’s project awards rising more than fivefold to USD 8.1 bn, while awards in Qatar were up 62.1% to USD 8.8 bn.

In terms of what’s already underway, the Kingdom remains MENA’s largest project market, with USD 735.1 bn of projects under execution, the data shows.

What’s next?

GCC project activity is expected to slow further, weighed down by spillover effects from the regional conflict. Kuwait, Qatar, and Bahrain declared force majeure on parts of their energy production and export assets, while others reduced their output. These moves are tightening fiscal space and limiting the ability to fund projects.

Still, the regional pipeline remains substantial. Saudi Arabia accounts for nearly 50% of the USD 2 tn in upcoming GCC projects, followed by the UAE with 27.5%. The Kingdom’s future pipeline is worth USD 999.3 bn as of April, led by construction (38%), power (20%), and transport (17%).

Across the region, construction makes up 39.7% of upcoming projects, followed by transport at 16.3% and power at 15.7%. A total of USD 841.5 bn worth of upcoming projects is in the design phase, with USD 554.1 bn at study stage and USD 220.4 bn in bid evaluation — pointing to a sizable backlog that could feed a rebound in awards as conditions stabilize, with a recovery tentatively expected from 2027.

EFG Hermes rebadges its education platform amid growth drive

EFG Hermes’ private equity arm has launched MindSpire Education as the umbrella brand for its K-12 education brand across the Arab world, the firm said in a press release (pdf). It’s the launch of a regional group brand — not a cosmetic relabelling of Spark Education Platform (SEP) — EFG Hermes Co-CEO Karim Moussa tells EnterpriseAM, and comes with a fresh investment in the Kingdom: Egypt-born Hayah Schools will open its first Riyadh campus in the summer of 2027.

“Hayah has one of the highest IB scores in the region, not just in Egypt,” Moussa tells us. “It’s a brand that deserves to grow across the region.” The Riyadh launch is being positioned as the flagship integration of MindSpire’s operating platform with Hayah's academic model and a STEM track from Fulton Science Academy in the US — a partnership EFG Hermes has now expanded specifically to support the Saudi build-out. This also follows the launch of GEMS American School in Saudi Arabia last summer, with GEMS British School set to open its doors this summer, Moussa says.

MindSpire has big regional ambitions, Moussa says, explaining, “We are an Arab education company focused on our cultural heritage, our character building, and the Arabic language as cornerstones.” EFG Hermes built deep K-12 capabilities in Egypt, “exported” that to Saudi Arabia, and is now leading with a regional brand. The bet is that an Arab-rooted, operator-driven K-12 group with Egyptian academic depth and Saudi capital can do something the regional sector hasn't seen done at scale.

The investment playbook: MindSpire “is not just a private equity play of investing and aggregating,” Moussa tells EnterpriseAM. “It is a play centered around a very strong operator.” That playbook is made clear with how EFG Hermes approaches these investments — it looks at schools that need help or restructuring, as well as “local champions” that are family- or founder-built brands that simply lack the capital and operating muscle to scale regionally. The fund also works on greenfield investments. The mix going forward will be opportunistic, Moussa told us — acquisitions and greenfield openings will both be on the menu on a case-by-case basis, he says.

By the numbers: EFG's Saudi Education Fund — which is backing MindSpire — has raised more than USD 200 mn in commitments against a USD 300 mn target, with over half of that already deployed, Moussa tells us. The fund — separate from the firm’s earlier USD 150 mn Egypt education vehicle, which is fully deployed — has financed six Saudi schools in roughly a year. Three of those schools were acquisitions, while another three were new builds, Moussa said.

Sabic back in black

Earnings season is in full swing. More companies are out with their latest quarterly earnings, giving us a look into how ongoing geopolitical tension has impacted top and bottom lines across sectors.

Sabic

Saudi Basic Industries Corporation (Sabic) moved back into the black in 1Q 2026, posting a net income of SAR 13.2 mn after a SAR 1.2 bn net loss a year earlier, it said in a Tadawul disclosure. The turnaround was mainly driven by lower operating costs after last year’s restructuring, along with tighter spending on G&A and R&D. Revenue, however, slipped 10.7% y-o-y to SAR 26.2 bn on weaker volumes and prices.

The war’s effect was muted: Despite geopolitical uncertainty, the company’s Executive Vice President of Finance Salah Al Hareky told the Arabic press that the impact of the war was limited in the quarter, thanks to rerouting exports through Saudi Arabia’s west coast.

Some trimming here: Sabic has been pushing ahead with a multi-year effort to reshape its portfolio, slimming down its business, having agreed to sell its European petrochemicals and engineering thermoplastics units in an SAR 3.6 bn divestment. The transactions are expected to wrap this year.

Some growth there: In the medium term, Sabic is leaning into specialty chemicals and international expansion. Its Fujian project in China is now 98% complete, and it secured feedstock allocation to lift urea capacity by 54% to 7.4 mn tons annually, it said in its earnings release (pdf). It also recently signed an agreement with a Public Investment Fund-Pirelli joint venture to locally produce 3.5 mn tires per year.

A cautious but steady outlook: Looking ahead, Sabic is upbeat but measured on long-term demand, pointing to uneven recovery across markets. Capital spending is also being kept in check at USD 3.5-4 bn for the year as the company balances growth with financial discipline to recover from a tough 2025.

REMEMBER- Sabic just had a change in leadership, with Aramco veteran Faisal Al Faqeer (LinkedIn) having stepped into his new role as CEO at the start of this month, replacing Abdulrahman Al Fageeh.

Al Jouf Cement Company

Al Jouf Cement Company saw its net losses widen to SAR 206.6 mn in 1Q 2026 from SAR 27.7 mn a year earlier, it said in a Tadawul filing. The increase in losses was driven by lower sales, higher cost of sales, and a SAR 97.8 mn charge to reconcile material inventory discrepancies in clinker stock. Revenue fell 4.8% y-o-y to SAR 244.3 mn, as improved selling prices were weighed down by weaker volumes.

Modern Mills Company

Modern Mills Company’s net income was basically flat y-o-y in 1Q 2026, coming in at SAR 65.9 mn as higher operating and financing costs offset gains, it said in a Tadawul disclosure. Revenue rose 6.4% to SAR 281.2 mn, supported by higher sales volumes and a better product mix.

Arabian Pipes

Arabian Pipes Co. saw its net income drop 49.9% y-o-y to SAR 20.1 mn in 1Q 2026, according to a Tadawul disclosure. The company’s revenue declined by 21.8% y-o-y to SAR 194.6 mn during the same period, driven by shifts in the sales mix and adjustments to customer delivery schedules.

Americana Restaurants

F&B giant Americana Restaurants saw its bottom line rise 93.5% y-o-y to USD 63.2 mn in 1Q 2026, with its revenue rising 13.3% to USD 649.7 mn, according to its earnings release (pdf). The ADX- and Tadawul-listed company’s margin also improved 400 bps y-o-y to 9.7%.

Another busy quarter: Americana opened 10 stores and added seven Malak Al Tawouk locations to its portfolio in 1Q, bringing its total footprint to 2.7k restaurants across 12 markets.

Mouwasat Medical Services

Mouwasat Medical Services posted 2% y-o-y growth in its bottom line to SAR 201 mn last quarter. Revenues were up 9.1% y-o-y to SAR 833.8 mn, driven by higher inpatient occupancy, improved client contract terms, and the start of operations at Al Mouwasat Hospital in Yanbu Industrial City.

CGS appoints Amit Lahoti as group CFO

Consolidated Gruenenfelder Saady Holding (CGS) appointed Amit Lahoti (LinkedIn) as its new group CFO, effective 17 May, according to a Tadawul filing. The move rounds out a leadership refresh at the company, after Ruban Bilen (LinkedIn) was tapped as group CEO as of this Friday, 1 May. Lahoti, a Big 4-trained chartered accountant who brings over 25 years of experience across EMEA and Asia, most recently served in senior finance and general management roles.

WSM gets the regulatory okay for new debt program

WSM gets the CMA’s green light for its debt program

WSM for Information Technology has the green light to register and offer debt instruments under a program capped at SAR 500 mn after the Capital Market Authority (CMA) approved the company’s application, according to a Tadawul disclosure. The prospectus will be published ahead of the subscription period.

Background: The company previously received the CMA’s green light to boost its capital from SAR 7.2 mn to SAR 28.6 mn by issuing one bonus share for every three existing ones. It was also reportedly developing a SAR 500 mn shariah-compliant sukuk program, tapping Impact Financial as the financial advisor for the issuance and offering.

Sama hands out licenses

Tak Mal and Dufaa get Sama’s green light: The Saudi Central Bank (Sama) has licensed Tak Mal to provide consumer microfinance services and licensed Dufaa to offer consumer finance. The move brings the total number of licensed consumer microfinance providers in the Kingdom to 11 and the total number of licensed finance firms to 73.

Saudi insurers see stable ratings

Saudi Re and Gulf Union ratings reaffirmed, outlook diverges: Moody’s maintained Saudi Reins. Company’s A2 global ins. financial strength rating with a stable outlook following its latest review. Meanwhile, Fitch reaffirmed Gulf Union Al Ahlia Cooperative Ins.’ rating at BBB+ (IFS) and AA- (Saudi National IFS), though the company’s outlook was revised to negative from stable amid underwriting losses.

Jeddah Islamic Port gets new shipping service

Jeddah Islamic Port is now directly connected to China’s Shanghai and Nansha, following the addition of the China United Lines (CULines) SGX shipping service, the Saudi Ports Authority (Mawani) said on X. The new route also connected Jeddah to Egypt and other ports in Malaysia, with a capacity of 2.4k TEUs.

Links, links, links: Jeddah has become one of Saudi Arabia’s main tools for adding route density and widening liner access while Red Sea shipping patterns remain under pressure. The port has seen a steady run of new service additions over the past year, including routes tied to India, China, Egypt, Jordan, Singapore, Djibouti, Berbera, and Oman.

Gasco gets regulator’s nod for Jacko Gases acquisition

Gasco moves closer to acquiring half of Jacko Gases: The National Gas and Industrialization Holding Company (Gasco) has received the green light from the General Authority for Competition to acquire 50% of Jacko Gases for SAR 125 mn, according to a Tadawul filing.

REFRESHER- Gasco signed the equity interest purchase agreement for the move last month. The transaction is structured as a capital injection intended to double Jacko’s share capital — valuing the company at SAR 125 mn pre-acquisition — and supporting its expansion plans.

Kempinski Group is expanding into branded residences at home

Kempinski Group is entering the Kingdom's branded residences market with the 302-unit Kempinski Residences at Masar, Makkah, it said in a press release. The project will be developed with Umm Al Qura for Development and Construction. The wider Masar development will also include a Kempinski hotel and a retail boulevard.

Branded homes are gaining traction in the Kingdom, with 77% of high-net-worth individuals showing interest and USD 3.4 bn of capital circling the segment, according to a Knight Frank survey. The sector is still nascent, with around 1.7k completed units and 1.9k under development, but the market is expanding rapidly. International demand for the properties is also expected to rise.

Diversification, redefined

Emerging market stocks recouped their losses from the early weeks of the US and Israel’s war on Iran, pushed now to a fresh all-time high by a rally in three Asian semiconductor companies. In addition to helping the world’s EM stock benchmark to a record close, the rally is prompting fresh debate over whether the gauge still offers meaningful diversification from the AI trade reshaping Wall Street, according to the Financial Times.

The MSCI Emerging Markets index rose more than 15% over the past four weeks — double the 10% clip the S&P 500 recorded over the same stretch — clearing the previous high it set in February. The move erases a sharp selloff that hit Asian markets in the opening weeks of the Iran war and lifts the index to roughly 16% above where it began in 2026, extending a five-quarter run of outperformance versus US blue chips, according to TradingView.

The bulk of the rally came from a tightly clustered group of names directly plugged into Nvidia’s accelerator supply chain. Taiwan Semiconductor Manufacturing Company climbed more than 25% this month and — at a market value of about USD 1.8 tn — has displaced Saudi Aramco as the index’s most valuable constituent. Samsung Electronics is also up 32%, and SK Hynix is up by more than 60%. Taken together, the three suppliers now sit at close to a quarter of the entire index.

Local stock markets have also received a shot in the arm: Taiwan’s stock market is on track for its best month in decades, up about 21% in USD terms, while South Korea's Kospi rose 24% — its strongest monthly showing since the 1998 Asian financial crisis.

Turbocharging the rally: Higher AI capital spending in the US. Combined 2026 capex budgets for the largest US hyperscalers — Amazon, Alphabet, Microsoft, Meta, and Oracle — are now projected to exceed USD 600 bn, up 36% y-o-y, with roughly three-quarters of that flowing to AI-related infrastructure, according to Futurum Group and CNBC. That capital-spending boom also sent Asian foundry suppliers’ earnings soaring: SK Hynix reported a bottom line of USD 27 bn last week, with revenue up nearly 200% y-o-y, according to CNBC and KED Global. The company has sold out its DRAM, NAND, and high-bandwidth memory production through the end of the year, much of it to Nvidia, NotebookCheck reports.

The dominance of those names has left some investors uneasy that the EM index — long pitched as a way to diversify away from rich-world equity risk — has effectively become a derivative of the AI mania that’s taken over Wall Street.

“The AI story has run so wild in [South] Korea and Taiwan,” Song Zhe, senior investment specialist at BNP Paribas Asset Management, tells the salmon-colored paper. “We still love this market, but people should think about diversification in this AI rally.”

Both Taiwan and South Korea were among the hardest hit when Asian markets tumbled in the opening days of the Iran war, as investors liquidated their best-performing trades of early 2026.

But equity markets proved resilient once the initial panic faded. The USD, which spiked at the outset of the conflict, has surrendered most of those gains — a tailwind for EM exporters whose earnings translate from local currencies.

“The USD, which largely moves in opposite directions to emerging markets… is likely to have peaked,” Varun Laijawalla, EM equity portfolio manager at Ninety One, tells the FT. EM stocks are also benefiting from a “structurally better earnings picture” and cheaper valuations than the US, he argues — a view echoed by sell-side analysts who have raised 2026 EM earnings forecasts by about 30% this year, three times the upgrade applied to the S&P 500, according to GuruFocus.

Tech has led the charge, with the EM tech sub-index up around 50% YTD, while energy, industrials, and utilities also delivered double-digit returns. “Seven out of 11 sectors were in positive territory,” Laijawalla said. “The rally is more than just tech.”

MARKETS THIS MORNING-

Asia-Pacific markets are mixed in early trading this morning as investors process a pretty busy 24 hours — Brent soared past USD 120 / bbl amid the ongoing naval blockade, the US Federal Reserve left rates steady, and AI optimism continues to shield tech heavyweights from ongoing volatility.

TASI	11,238	+0.5% (YTD: +7.1%)
MSCI Tadawul 30	1,503	+0.5% (YTD: +8.3%)
NomuC	22,876	-0.1% (YTD: -1.8%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	52,383	+0.3% (YTD: +25.2%)
ADX	9,901	+0.7% (YTD: -0.9%)
DFM	5,861	+0.1% (YTD: -3.1%)
S&P 500	7,136	0.0% (YTD: +4.2%)
FTSE 100	10,213	-1.2% (YTD: +2.8%)
Euro Stoxx 50	5,816	-0.3% (YTD: +0.4%)
Brent crude	USD 119.80	+1.5%
Natural gas (Nymex)	USD 2.63	-0.6%
Gold	USD 4,573	+0.3%
BTC	USD 76,057	-0.6% (YTD: -13.2%)
Sukuk/bond market index	916.34	0.0% (YTD: -0.3%)
S&P MENA Bond & Sukuk	151.26	-0.2% (YTD: -0.4%)
VIX (Volatility Index)	18.81	+5.5% (YTD: +25.8%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.5% yesterday on turnover of SAR 5.8 bn. The index is up 7.1% YTD.

In the green: Saudi Aramco Base Oil (+10.0%), Red Sea International (+10.0%), and Americana Restaurants (+9.6%).

In the red: Almasane Alkobra Mining (-4.5%), Aldawaa Medical (-4.1%), and Banque Saudi Fransi (-2.2%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.1% yesterday on turnover of SAR 24 mn. The index is down 1.8% YTD.

In the green: National Building and Marketing (+16.6%), Lana Medical (+9.3%), and Sama Healthy Water Factory (+4.3%).

In the red: Horizon Food (-12.3%), Itmam Consultancy (-6.7%), and Multi Business Group (-6.0%).

CORPORATE ACTIONS-

AlNaqool Sons is moving to raise its capital by 100% to SAR 58 mn through a 1-for-1 bonus share issue, according to a Tadawul disclosure. The board recommended capitalizing SAR 29 mn of retained earnings to fund the move, which remains subject to regulatory and shareholder approval.

CALENDAR

MAY

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

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

JUNE

15-17 June (Monday-Wednesday): Aluminum Arabia, The Arena, Riyadh.

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

21-24 June (Sunday-Wednesday): Saudi Print & Pack, Riyadh International Convention & Exhibition Center.

21-24 June (Sunday-Wednesday): Riyadh International Industry Week, Riyadh International Convention & Exhibition Center.

21-24 June (Sunday-Wednesday): Saudi Plastics & Petrochem, Riyadh International Convention & Exhibition Center.

21-24 June (Sunday-Wednesday): Saudi Smart Logistics, Riyadh International Convention & Exhibition Center.

22-24 June (Monday-Wednesday): The Future Hospitality Summit, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

JULY

6 July-23 August (Monday-Sunday): Esports World Cup, Riyadh.

AUGUST

30 August-1 September (Sunday-Tuesday): The Saudi Entertainment and Amusement Expo, Riyadh Front Exhibition and Conference Center.

31 August-3 September (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.

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.

26-28 October (Monday-Wednesday): ACHEMA Middle East, Riyadh International Convention & Exhibition Center.

28-29 October (Wednesday-Thursday): Procurement and Supply Chain Futures Forum, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

28-29 October (Wednesday-Thursday): Real Estate Supply Chain Forum, Mandarin Oriental Al Faisaliah Hotel, 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;
September: Saudi Paper and Packaging Expo, Riyadh International Convention & Exhibition Center;
November: The UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia;
November: The Esports Nations Cup, Riyadh;
The World Economic Forum’s Global Collaboration and Growth Meeting, Jeddah;
SkyMove Air Cargo MENA, 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;
Capital Markets Forum takes place in March in Riyadh.

Signposted to happen sometime in 2Q 2027:

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

2027

FEBRUARY

1-3 February (Monday-Wednesday): Energy Regulators Regional Association annual conference, Riyadh.

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PIF board gathers in Tyneside for Newcastle review