Saudi-Turkey rail link takes shape via Jordan and Syria

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WHAT WE’RE TRACKING TODAY

Satorp refinery repairs stretch to 2027

Good morning, friends. The US and Iran have confirmed the peace agreement is now in effect, meaning we can all collectively breathe a sigh of relief — with eyes firmly set on the Strait of Hormuz for signs that supply chain disruptions might ease soon.

The big story today: Saudi Arabia and Turkey want to lay a rail link through Jordan and Syria within three to four years, carrying goods, oil, gas, and passengers from the Kingdom all the way to Europe. The UAE, Kuwait, Qatar, and Oman could eventually plug in. The catch, of course, is the map: a route that runs through postwar Syria is a route that depends on postwar Syria holding together.

A more sobering story: the ICAEW now sees the GCC contracting 2.4% this year, with Saudi and Oman the only two members still growing. Three months ago it was forecasting a near-flat 0.2% dip.

AND- From the tech department: We sat down with AI startup Velents' co-founder Abdulaziz Almuhaydib for this week's My Morning Routine.

Happening today

It’s day two of Masqa Investments’ (MSGA) Nomu IPO subscription, with bookbuilding scheduled to run through Wednesday, 24 June. The Riyadh-based real estate developer is offering a 10% stake to qualified investors at SAR 6 per share, targeting SAR 66.7 mn and implying a post-listing market cap of SAR 667 mn. MSGA’s IPO comes as larger Saudi issuers — including Mutlaq Al Ghowairi Contracting (SAR 3 bn) and Arabian Dyar (SAR 16 bn) — shelved their listings on geopolitical jitters.

Ninja wants a piece of Delivery Hero

Quick-commerce firm Ninja is inching closer to its Delivery Hero acquisition, reportedly working with Saudi and international investment banks to acquire some of Delivery Hero’s assets in the Kingdom and the UAE, the Arabic press reports, citing an anonymous source. Goldman Sachs, Citigroup, UBS, and Riyad Capital are advising on the transaction, according to the source.

REMEMBER- The local unicorn was reportedly weighing a bid for parts of Delivery Hero’s Middle East portfolio, including its Saudi unit HungerStation and a joint acquisition of Dubai-based Talabat. The firm is also expected to prioritize HungerStation first due to simpler integration and fewer regulatory hurdles. Meanwhile, it’s also gearing up for a potential IPO that could raise USD 1 bn by late 2026 or early 2027.

Satorp’s road to recovery

TotalEnergies’ Satorp refinery — hit by three drone strikes in April — won’t be fully repaired until early 2027, CEO Patrick Pouyané told French lawmakers. The refinery is currently running at 70% of its 460k bbl / d capacity.

The diplomatic calendar and the refining calendar are on very different clocks: Pouyané said that many of the region’s damaged plants, used to ship significant volumes of diesel and jet fuel to Europe, won’t come back online quickly regardless of what happens with the Strait of Hormuz following the US-Iran framework.

We could be in for a sharp oil glut next year as Gulf producers start to revive shuttered fields, according to the International Energy Agency’s monthly report. The agency said flows would resume gradually this year, before surging by 8 mn bbl / d to 110 mn bbl / d in 2027, outpacing the expected 2 mn bbl / d rise in global demand.

A surplus is not a bad thing: A supply overhang would offer markets a chance to rebuild depleted inventories and strategic reserves after stocks have eroded this year due to the blockade of the Strait of Hormuz, with OECD stocks now at their lowest in decades.

Still, the physical recovery of flows through Hormuz will also be slow in coming. Around 500 ships are waiting to exit the Gulf, and mine-clearing could take 40-50 days. Meanwhile, Aramco CEO Amin Nasser told analysts last month that even an immediate reopening would leave the oil market needing months to rebalance, adding that if the strait had stayed shut much longer, normalization wouldn’t have come until 2027.

Data point

71 mn sqm — that’s the total area of land under development or in circulation in Riyadh, the Municipalities and Housing Ministry said on X. That breaks down to 29 mn sqm of completed developments, 21 mn sqm still under development, and 20 mn sqm of previously vacant white land that has entered the market — a result of the White Land Tax introduced last year. Tax revenues from the law have backed the funding of 27 residential projects in the region, the ministry said.

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The big story abroad

Your regularly scheduled update on the US-Iran war agreement is the story dominating front pages this morning: US and Iranian officials have confirmed they’ve already digitally signed the agreement, the contents of which were made public earlier yesterday (if you need a refresher: there’s a USD 300 bn package for Iran, an agreement to release frozen Iranian funds and assets and lift all sanctions, and lift the blockade).

The agreement is already in effect, US and Iranian officials have confirmed, meaning all eyes are now turning to the Strait of Hormuz for signs that the blockade has officially ended. (But remember, as we’ve reported: The lifting of the Strait will not be straightforward and won’t happen overnight; it will need to be measured and gradual.)

ALSO- Apple products are getting pricier: Apple CEO Tim Cook confirmed in a Wall Street Journal interview that price increases are “unavoidable” across its product lineup — the culprit being AI-driven demand for data centers, which has forced consumer electronics into fierce competition for dwindling memory chip supplies.

Platform zero

Saudi Arabia and Turkey want to build a rail link through Jordan and Syria within three to four years — a route for goods, oil, gas, and passengers connecting the Kingdom to Turkey and on to Europe. The UAE, Kuwait, Qatar, and Oman could eventually join the network. The two countries signed a pair of MoUs last week — with one covering logistics services and rail cooperation and the other spanning railway technologies, signaling and communication systems, and digitalization.

The idea is gaining traction — but it remains far from a functioning corridor. “At the moment, we are seeing a gradual transition from political intent toward infrastructure and economic logic,” Ziya Mammadov, transport and logistics specialist, tells EnterpriseAM. Recent maritime disruptions have accelerated interest, but coordinated infrastructure, aligned rules, and cross-border execution still need to come together first, he says.

The physical gap is clear: The Saudi-side route already reaches the Jordanian border, and Turkey’s network runs from Islahiye to Kilis and Gaziantep near the Syrian border. What remains is a roughly 400 km missing section between Syria and Jordan. Meanwhile, Turkey is putting up around USD 100 mn to rebuild the route between its border and Aleppo, with a direct rail link onward to Damascus. A broader financing plan for the full corridor is still being drawn up.

Syria remains the biggest swing factor: Ankara has deepened ties with Damascus since the fall of Bashar Al Assad in late 2024 and has committed to supporting Syria’s reconstruction — giving Turkey a direct stake in making the corridor work. Syria’s reconstruction and day-to-day operational stability remain major variables for the route, he adds.

The hardest part is making the border work. Customs harmonization, digital border procedures, and transit governance need to come first, while financing and long-term investment confidence come second, Mammadov adds.

Maritime freight will remain more cost-efficient for bulk shipments in most scenarios, Mammadov says. What the corridor offers is supply chain diversification, reduced transit uncertainty, and strategic optionality during Red Sea or Hormuz disruptions — with time-sensitive cargo and regional trade the likeliest early movers. “Assuming immediate large-scale freight shifts or volumes comparable to established maritime routes is still too early,” he notes.

Geography alone will not shift freight: Shippers would need predictable transit times, competitive end-to-end costs, digital cargo visibility, affordable ins., operational security, and schedule integrity before moving volumes onto a new corridor, Mammadov says.

Central Asia is still likely to anchor to the Middle Corridor — but a Gulf-Turkey route could add a southern layer rather than compete with it. Kazakhstan, Uzbekistan, and other Central Asian economies have the most natural alignment with the Middle Corridor toward Europe, Mammadov says. “In modern logistics, redundancy and multiple route options increasingly create value,” he adds.

SOUND SMART- The Middle Corridor is the Trans-Caspian International Transport Route — the rail-and-sea freight path that carries goods from China to Europe via Kazakhstan, a ferry hop across the Caspian, Azerbaijan, Georgia, and Turkey. Its entire pitch is what it avoids: it touches neither Russia nor Iran, which is why volumes jumped after Western sanctions on Russia in 2022 made the old northern route through Moscow a liability. The catch is capacity, as the Caspian ferry crossing and a string of border handoffs make it slower and choppier than the route it replaced.

The oil-shaped dent

Saudi Arabia and Oman will be the only two GCC economies to keep growing in 2026, as the fallout from the US-Iran war drags the bloc into a 2.4% GDP contraction, the ICAEW said in its Economic Update. That's a sharp downgrade from the 0.2% contraction it forecast three months ago, and a reversal of the 3.6% expansion the wider Middle East was tracking before the war. The region is now seen shrinking 4.1%.

REMEMBER- The war shock has hit Saudi almost entirely through oil. The Kingdom’s economy saw the slowest expansion since 2Q 2024, up by 3% y-o-y in 1Q 2026, with oil activities being the primary drag on performance. However, analysts have noted that this downturn was mitigated more effectively than anticipated, thanks to strategic rerouting initiatives and the East-West pipeline.

Food inflation is staying contained: CPI inched up just 1.8% in May, and ICAEW expects food inflation to stay subdued, citing the Kingdom's larger domestic production base and supply-chain resilience. That comes in contrast to the food-driven price pressure building in Kuwait, Oman and Qatar.

MEANWHILE- GCC oil output faces its steepest decline in decades, down 14.5% this year on the shipping disruption, before a 23.5% rebound in 2027 off a depressed base. ICAEW sees Brent averaging USD 90 / bbl this year, easing over the medium term as the UAE's exit from Opec+ and a planned West-East pipeline set to double export capacity through Fujairah. Inbound tourist arrivals across the GCC are forecast to fall 30% as security concerns reshape booking and destination decisions.

What's next: ICAEW pegs the recovery to the Strait reopening to normal transit, which it expects to come slowly. It sees GCC headline inflation at 2.6% y-o-y in 2026, easing to 2.1% in 2027 as supply-side pressures fade. The Fed is expected to hold rates until December, with regional central banks following the lead.

Almost back to normal

GCC fixed-income yields have largely normalized following the US-Iran framework, with investment-grade spreads over US Treasuries back to pre-war levels, though the recovery gets patchier the further down the credit stack you go, according to a Fitch Ratings statement.

Back to baseline: The yield-to-maturity spread on the S&P GCC Sukuk Index narrowed to 67 basis points (bps) as of Monday, 15 June, broadly back to its pre-conflict level of 70 bps and down sharply from 100 bps in late March. GCC bonds closed the gap further, with spreads narrowing to 89 bps from 126 bps at the March peak.

Not everything has normalized, though. High-yield GCC sukuk spreads remain elevated at 251 bps — down from 390 bps in March but still well above the pre-conflict level of 209 bps, reflecting a risk premium that hasn’t fully unwound.

In absolute terms, yields also remain above pre-war levels: The S&P GCC Sukuk Index yielded 4.94% on 15 June, still 51 bps above where it was before the conflict began, while the GCC Bond Index yielded 5.16%, 43 bps above its pre-conflict level.

The path ahead is uncertain on two fronts. The US-Iran agreement, if signed and implemented, would remove the more acute geopolitical risk premium — but Fitch flags it could still be delayed, not implemented, or followed by renewed instability. And with Fitch no longer expecting any Fed rate cuts in 2026, US Treasury volatility remains a persistent drag on GCC yields given the USD-peg correlation, which runs above 0.89.

The normalization in spreads is already translating into renewed issuance activity. Gulf companies and sovereigns raised USD 11.2 bn in May, with June shaping up similarly active before a summer lull — Bahrain returned to public debt markets for the first time since the war, Dubai Islamic Bank raised USD 1 bn in an AT1 sukuk at near pre-war spreads, and Saudi’s Aljazira Bank closed its USD AT1 capital certificate.

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How ExecEd’s partnership with Mountain View helped professionalize real estate management in Egypt

Egypt’s real estate sector has expanded rapidly over the past two decades. That growth also exposed a gap: professional development programs tailored to real estate development, finance, investment, operations, asset management, and community management remained limited despite the sector’s increasing complexity.

That gap helped prompt a 17-year partnership between AUC Onsi Sawiris School of Business Executive Education and Mountain View. For Mountain View, the partnership was a strategic bet on the sector's future: as real estate became more complex, leadership increasingly required management capability, project discipline, and stronger decision-making.

The partnership began in 2009 with the launch of Egypt’s first real estate executive development program, developed alongside the National University of Singapore. Since then, the program portfolio has expanded to cover different career stages and specializations, including the Real Estate Management program, the Real Estate Development and Management Certificate, and the Real Estate Finance and Investment Certificate, alongside various introductory programs for professionals entering the sector.

More than 755 professionals have graduated from one or more programs, while 110 participants are currently enrolled. The pipeline spans career levels, from junior professionals with fewer than five years of experience to senior leaders with more than 11. It also draws from both large companies and SMEs, with 80% of participants coming from local firms, reflecting the focus on building domestic industry capability. Customized versions were also delivered to real estate development companies in Egypt and Saudi Arabia.

The collaboration has also grown into a broader industry platform. Conferences, roundtables, and forums have brought together international experts, government ministers, and developers to discuss operational and strategic challenges facing the sector.

The outcome is a training pipeline the sector did not have before. As the offering continues to expand, AUC Onsi Sawiris School of Business Executive Education and Mountain View are positioning executive education as a practical route into more professional real estate management.

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

Aljazira Bank closes AT1 issuance, Pickappo raises SAR 2 mn

Aljazira Bank closes AT1 issuance

Aljazira Bank is wrapping up a USD-denominated AT1 capital certificates issuance under its USD 1.5 bn program today, according to a Tadawul disclosure. The perpetual, five-year callable certificates carry a minimum subscription threshold of USD 200k and will be listed on the London Stock Exchange’s International Securities Market. Final pricing and yield remain subject to market conditions.

IN CONTEXT- Gulf debt only began reawakening from its war-driven slumber in May, and June is tracking similarly before a summer lull and Fed policy bring things to a halt. The roll cycle now playing out is banks compressing months of refinancing activity into a few weeks of open market. Spreads for investment-grade names have tightened back inside pre-war levels, presenting the right conditions to move before summer closes the window.

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

Pickappo raises SAR 2 mn

Logistics tech startup Pickappo closed a SAR 2 mn (USD 530k) pre-seed funding round, led by an undisclosed angel investor and an investment fund, according to a press release. The capital will go toward product development, creating AI and automated systems, attracting new talent, and expanding partnerships.

Pickappo? Founded in 2023 by Walid Ghonim (LinkedIn) and Ahmed Siam, the Saudi-based startup is developing a unified platform to connect stores, restaurants, and online retailers with delivery and logistics providers. Pickappo currently works with over 300 logistics companies and 50 delivery apps to fulfill 100k+ daily orders, according to its website.

A new Fed era

Kevin Warsh's first FOMC meeting as Fed chair ended where markets expected: rates on hold at 3.5%-3.75%, the fourth consecutive meeting without a move. What markets certainly did not expect: A massive overhaul of the way Fed delivers news of its interest rate decision every six weeks and how it communicates with the public.

The statement was the first signal. The FOMC released a noticeably shorter statement than it has in the past — removing what Warsh called “outdated language” and eliminating forward guidance entirely. The statement, instead, was boiled down to three paragraphs essentially saying: economic activity is expanding at a solid pace, inflation remains elevated partly due to energy supply shocks from the Middle East conflict, and the committee will deliver price stability. It contained no signals for what the Fed might do next.

Sitting out the dot plot: Nine of the 18 FOMC participants projected the federal funds rate ending 2026 above its current range — implying at least one hike — and the dot plot appeared to be missing one submission. Warsh confirmed it was his, and hinted there might be a whole new framework for the Fed’s public communications by the end of the year.

Warsh said there would be five task forces — covering the Fed's communications, its balance sheet, its reliance on existing data sources, productivity and jobs, and its inflation framework — most of which he hopes will conclude by fall or year-end. Everything is on the table: the dot plot, the quarterly Summary of Economic Projections, FOMC meeting minutes and transcripts, even the post-meeting press conference. Warsh signalled he may hold fewer of those too: “When you have one, you want to make sure you have something important to say,” he was quoted as saying.

His argument: When financial markets simply reflect back what the Fed has said, the Fed loses its most important source of information. He wants markets watching data, not watching the Fed watching data.

Markets did not love any of this. The S&P 500 closed down 1.2% and the Nasdaq fell 1.3%. The 10-year Treasury yield shot to nearly 4.5%. Traders were also pricing better than a 90% chance of a rate hike by October, with many pricing in a hike as soon as September.

MARKETS THIS MORNING-

Asian markets are mixed this morning, with Japan’s Nikkei jumping to a fresh record while Hong Kong’s Hang Seng fell, and mainland China’s CSI 300 was flat. Wall Street futures, meanwhile, are on the rise as traders digest the outcome of the FOMC yesterday.

TASI	11,115	-0.3%% (YTD: +6.0%)
MSCI Tadawul 30	1,486	-0.2% (YTD: +7.1%)
NomuC	23,168	-0.2% (YTD: -0.5%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	52,622	+1.1% (YTD: +25.8%)
ADX	9,996	+0.3% (YTD: +0.0%)
DFM	6,116	+1.0% (YTD: +1.1%)
S&P 500	7,420	-1.2% (YTD: +8.4%)
FTSE 100	10,509	+0.1% (YTD: +5.8%)
Euro Stoxx 50	6,300	+0.7% (YTD: +8.8%)
Brent crude	USD 79.55	+0.8%
Natural gas (Nymex)	USD 3.16	+0.5%
Gold	USD 5,294.8	-2%
BTC	USD 64,277	-2.2% (YTD: -27.6%)
Sukuk/bond market index	915	+0.1% (YTD: -0.5%)
S&P MENA Bond & Sukuk	152.09	-0.0% (YTD: +0.2%)
VIX (Volatility Index)	18.44	+12.4% (YTD: +23.3%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.3% yesterday on turnover of SAR 4.2 bn. The index is up 6% YTD.

In the green: Gulf Ins. (+6.2%), Elm (+3.4%), and Ease Pipes (+3.1%).

In the red: Aljazira Takaful (-5.0%), Saudi Cement (-4.3%), and Petro Rabigh (-4.2%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.2% yesterday on turnover of SAR 19.6 mn. The index is down 0.5% YTD.

In the green: Hedab Alkhaleej (+14.3%), Naf (+12.9%), and Lana Medical (+9.2%).

In the red: Leaf (-15.9%), First Avenue (-12.0%), and Fad (-8.0%).

My Morning Routine: Abdulaziz Almuhaydib, co-founder and COO of Velents

Three years ago, Velents was an applicant tracking system. Today, it’s the first Arab company in Anthropic’s Claude Partner Network, building agentic AI for government and enterprise clients across Saudi Arabia and Egypt — part of the region’s push to build AI infrastructure it actually controls.

My Morning Routine looks at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. This week, we sat down with Abdulaziz Almuhaydib (LinkedIn), Velents’ co-founder, to discuss the company’s AI ambitions, the future of sovereign technology, and what it takes to build a regional AI player. Edited excerpts from our conversation:

E: What pulled you toward AI, tech, and Velents?

Abulaziz Almuhaydib: My background isn’t traditionally in tech — I came up through operations management and trading within the mining industry. I started angel investing in multiple startups later because I believed the best MBA is actually investing in startups instead of going to school and paying tuition. You get to know how founders build startups and what the tricks are — you’re paying your money to actually understand how a startup works.

Velents was the third startup I invested in, out of a portfolio that eventually grew to about 14 companies. I left my job after six months of starting my investment and joined Velents as a co-founder because I was fully convinced that AI is the future.

E: What’s Velents’ origin story, and where does the company sit today?

AA: Since the beginning of 2023, we have adapted to the market by remaining agile and flexible. We initially started as a sovereign AI company focused on applicant tracking systems, video interviewing, and AI recruiting, and then evolved into an agentic AI company. Now, through our agentic approach, we look at where workflow operations actually slow down inside an organization and embed an AI agent directly into that workflow to make operations measurable and more efficient. The target segment for us includes governmental, semi-governmental, and large enterprise clients.

Velents stands on top of three main technologies: the first being document understanding, the second is a conversational AI that understands spoken and written Arabic and executes actions in the background, and the third is media analysis, where we analyze videos for interviews or conduct sentiment analysis for call centers.

Our product stack includes Agent.sa, the first fully integrated Arabic-speaking AI employee, and Safha, our document understanding and analysis platform built with Elm. We also run an AI recruitment agent and a quality assurance agent which provides customer support services.

E: What’s the current development and expansion strategy for Velents?

AA: Our near-future target is to build sovereign AI agents that users can host locally on their laptops. For example, an employee in a finance department could have a small language model (SLM) running locally with multiple agents assisting them through their specific processes in an isolated space.

We realized over the past year that partnership-led growth is essential. AI is not a standalone product — it’s a top-up layer to an ecosystem that already exists in enterprises. This is why we formed strategic partnerships with companies like Claude, Red Hat, and IBM.

E: Speaking of sovereign AI, why is it becoming so critical for GCC governments and firms?

AA: At the end of the day, you have to protect your data. Sovereign AI is the most critical global trend right now — not just in Saudi Arabia — because organizations cannot risk sharing private data due to cybersecurity restrictions. You need a sovereign AI that understands your specific data, segment, nation, citizens, and internal processes to compete globally.

E: Looking ahead, what are the challenges to scaling across the region?

AA: The biggest challenge is AI awareness. There is a mandate from leadership to utilize AI, but the practical use cases are often misunderstood, and there is often a disconnect between higher-level executives who want to embed AI immediately and the operational teams who have to use it. AI utilization must start with an existing pain point, not just as a complementary “buzzword.” Many projects fail because companies don’t start with the root cause of the problem. At Velents, we provide tools, but if they aren’t utilized correctly, the ROI is zero. We focus heavily on the specific use case first, and then deploy our suite of agents to target the issue directly.

E: Walk us through your day, start to finish.

AA: I’m not naturally a morning person, but transitioning from an employee to a co-founder pushed me to become one. I wake up around 8am and aim to be in the office by 9am. One of my best investments was an xBloom coffee machine, because I can use the app to start filtering my coffee before I even arrive.

Once at the office, I check in with the employees to see if anyone needs help or faces any dependencies from my side. After that, I look at my calendar to prepare for any client meetings. My evenings after that are usually spent attending networking events and dinners with business and marketing leaders to engage with them on a personal level.

Abulaziz’s recommendations

What he’s listening to: I spend my commute listening to the All-In Podcast to stay updated on tech trends and market developments during the heavy morning and evening traffic in Riyadh.

A piece of advice that stuck: Don't compare yourself to others. If you do, you will constantly chase an ideal that doesn’t fit your reality, because everyone’s life journey is completely different. We live with the momentum of a high-speed track, so two years is actually a long time. Comparing yourself to who you were two years ago takes all the noise out of your mind. The only honest scoreboard is whether you have moved or not.

CALENDAR

JUNE

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.

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

8-10 September (Tuesday-Thursday): The WTM Spotlight Riyadh, Riyadh Front Exhibition & Conference Center (RFECC), Riyadh

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

23 September (Wednesday): Saudi National Day.

28 September-1 October (Monday-Thursday): The International Conference on Theory and Practice of Electronic Governance (ICEGOV), Prince Sultan University, Riyadh.

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

11-12 November (Wednesday-Thursday): Aluminum Arabia, The Arena, Riyadh.

16-19 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre (Malham), Riyadh.

25-29 November (Wednesday-Sunday): 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.

2027f

FEBRUARY

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

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