Prices hold steady

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WHAT WE’RE TRACKING TODAY

THIS MORNING: The bloc behind Riyadh grows as the war nears Madinah

Good morning, all. The war didn’t slow over the weekend, but it hasn’t reached the checkout. Saudi inflation held at 1.9% in September, the first reading since the Houthi escalation began, and the cushions we pointed to last month — the riyal’s peg, state-set fuel and utility prices — did their work. Rents are cooling and cost pressure up the chain is easing.

Humain, meanwhile, is out to bid on its next Riyadh data centre, a potential USD 1 bn build that is one brick in the 6 GW AI campus it is assembling in Al-Saad.

One for the road: AlShrouq Express is readying drone trials and pushing forward with the autonomous vehicles it piloted years ago, testing whether taking the driver out of the last mile pencils out.

Humain, meanwhile, is out to bid on its next Riyadh data centre.

WEATHER- Rain, rain, and more rain: Most of the Kingdom is in for thunderstorms through Wednesday, and early forecasts suggest the wet spell could continue in some regions until the end of next week, according to the National Center for Meteorology (pdf). Moderate to heavy rainfall is forecast for Jazan, Asir, Al Baha, and Makkah, with warnings of downdraft winds, hail, rough seas, and flash floods.

War Watch

Egypt is getting ready to defend Saudi Arabia. President Abdel Fattah al-Sisi told the parliament to hold an emergency session to authorize Egyptian intervention in defense of the Kingdom “if asked,” speaking at a military graduation ceremony, and stressed that Egypt is seeking only to defend, with no intention of attacking or fighting (watch, runtime: 32:47). Cairo already pledged its support for Riyadh without any reservation last week.

Riyadh and Cairo are also talking money: Egypt is negotiating to renew USD 5.3 bn in Saudi deposits at its central bank that fall due this month, an official told Asharq Business, with the length of the extension still open. The kingdom holds another USD 5 bn in short-term deposits renewed annually, taking its total to about USD 10.3 bn.

A defensive line is forming around the Kingdom, with few partners willing to cross into Yemen. On top of Egypt’s offer to come to Saudi Arabia’s defense, Turkey and Pakistan have pledged forces for rapid deployment inside the Kingdom under the Makkah Defense Pact, though Ankara has ruled out joining any offensive operations, while Damascus is still weighing whether to offer defensive support. That leaves Washington as the only partner publicly considering offensive action, with Trump saying the US “may” join Saudi strikes on the Houthis.

The exchanges continued on both sides of the border. The Saudi-led coalition intercepted and destroyed two drones, one over the Eastern Province and one over the Riyadh region, as well as two ballistic missiles fired by the Houthis toward Khamis Mushait. Inside Yemen, the Houthis said they shot down a Saudi armed reconnaissance aircraft over Hajjah, and claimed Saudi Arabia conducted 53 airstrikes on Taiz, Ibb, Lahij, Saada and Amran.

Meanwhile, the Houthis struck the Al-Maashiq presidential palace in Aden, the seat of the Saudi-backed government, killing five people and wounding 16. It was the first hit on the palace in this round of fighting, and the prime minister and cabinet were unharmed. The group also said it shot down a Typhoon fighter jet over Saada and a drone over Marib. Across the border in Saudi Arabia, the Houthis said they downed an Apache helicopter near Najran.

Are the holy cities a target? The coalition said it intercepted a cruise missile over Madinah, the first time the fighting had reached either of Islam’s two holiest cities. The Houthis denied firing at Madinah and said both it and Makkah were exempt from their warning that Saudi airspace was unsafe

International bodies lined up behind Riyadh: The UN Security Council condemned the Houthi attacks “in the strongest terms,” called them “reckless”, and affirmed Saudi Arabia’s right to self-defense under international law. The International Civil Aviation Organization’s (ICAO) governing council also condemned the strikes on civilian airports, aircraft and aviation infrastructure in Saudi Arabia.

The calendar keeps emptying

More events get pushed or cancelled: The EU postponed its summit with the Gulf Cooperation Council (GCC), originally set for 24 October in Saudi Arabia, according to a press release (pdf). The Asian Tour shelved its season-ending PIF Saudi International, due 18-21 November, indefinitely, citing “organisational and logistical challenges,” and the Union Cycliste Internationale (UCI) said the Urban Cycling World Championships, scheduled for 3-7 November in Riyadh, “will not proceed.”

REMEMBER- The Kingdom is working to keep its business and sports calendar intact. Riyadh is opening the flagship Future Investment Initiative to remote attendance, after the chief executives of ExxonMobil, TotalEnergies, Shell, and BP skipped last week’s World Petroleum Council Energy Congress. Our hosting of the Asian Cup in January next year will test whether the major sports calendar holds.

A crude return

Saudi Oil exports surpass pre-war levels as the East-West pipeline recovers. Crude exports averaged 8.1 mn bbl / d in the first half of October, exceeding the 7.2 mn bbl /d for February, according to TankerTrackers. The rebound was supported by pipeline flows that returned to about 5.8 mn bbl / d of its 7 mn bbl / d capacity after a September attack halted loadings at Yanbu. Production rose 744k bbl / d m-o-m to 8 mn bbl / d in September, Opec’s monthly report (pdf) shows.

“The Hormuz Shuffle [the Saudis] are doing is working for now,” market analyst and Sandstone Group CEO Stuart Turley tells EnterpriseAM, adding that the Kingdom has shown it can repair the pipeline quickly.

The recovery is coming at a cost: Higher fuel use and tight tanker availability are pushing up shipping costs. “[Saudi Arabia] will be forced to discount their oil to offset the higher tanker fees. But it will be better to get an order for cashflow, than hold out for market prices,” Turley says.

MEANWHILE- The Kingdom is exploring additional overland routes to Europe and aims to increase pipeline export capacity to 10 mn bbl / d while discussing with Kuwait is a proposed Saudi line running to the Red Sea that could serve both countries

Funding Syria

Saudi money is about to start flowing into Syria’s rebuild. Riyadh and Damascus will sign a first USD 406 mn financing package “within days,” the opening phase of up to USD 1.5 bn in Saudi-funded projects under discussion for the coming months, Syrian Finance Minister Mohammed Yasser Barnieh told Asharq Business at the IMF and World Bank meetings in Bangkok. The soft loans from the Saudi Fund for Development would go to energy, health, housing, roads and services to help refugees return.

REMEMBER- These financing discussions build on Saudi broader push to support Syria’s multi sector reconstruction. Saudi entities signed deals spanning airport redevelopment, telecoms, desalination, real estate and roads, including the SAR 7.5 bn Aleppo airport project, a SAR 3 bn STC telecoms project, USD 2 bn in Abyat developments, and a USD 300 mn roads contract.

Land for a stake

Saudi Arabia is moving to operationalize its Cabinet-approved land-for-housing swap, with draft rules out for public comment until 10 November on Istitlaa, according to an announcement. The Municipalities and Housing Ministry will be able to offer land earmarked for housing support programs to an investor picked through a public tender. The investor would develop the plots and take a share of the land in return.

Investors can be paid three ways: usufruct rights over a share of the developed land for a set period; ownership of a share capped at 20% of net developed area, a limit the housing and finance ministers can jointly waive; or ownership of part of the land in exchange for developing the site and building Developmental Housing units, with a portion handed back to the ministry to dispose of under current rules.

REMEMBER- The Cabinet approved an amendment allowing private developers to join these projects in August. The Kingdom wants to move idle plots, some unused for years because of financing constraints, Sultan Al Osaimi, a real estate valuation fellow at Taqeem, previously told us. He expects ownership allocations to be determined by the nature and economic value of each project.

Making room at Jeddah airport

Jeddah’s airport is moving all its North Terminal flights. Starting yesterday, every flight that had operated from King Abdulaziz International Airport’s North Terminal shifts to the new Terminal 4 and the Hajj and Umrah terminals, Jeddah Airports said in a statement, completing a transition that began in late September. Travellers are being told to confirm their departure terminal with their airline before heading to the airport.

It’s a capacity play: Terminal 4, a 97k-sqm building that started phased operations last month, can take up to 15 mn passengers a year. Pulling the North Terminal’s traffic into it feeds the Kingdom’s goal of lifting King Abdulaziz International Airport — which handled a record 53.4 mn passengers in 2025 — past 90 mn a year by 2030.

PSA

Own a Ford or Lincoln car? You might need to bring it in for repairs. The Commerce Ministry has recalled more than 3k vehicles over a faulty exhaust gas recirculation valve that can weaken acceleration and cause loss of power while driving, according to a statement. The recall covers 2025 Ford Explorer and Taurus, as well as Lincoln Nautilus and Corsair models. Owners can check whether their car is impacted by entering their VIN on Recalls.sa.

Data point

SAR 159.1 bn — that’s how much foreign direct investment flowed into Saudi Arabia in 2025, up 33.5% y-o-y, according to the General Authority for Statistics (Gastat) data (pdf). But outflows nearly doubled to SAR 77.7 bn from SAR 39 bn in 2024, leaving net inflows up just 1.7% y-o-y at SAR 81.4 bn. Construction led with SAR 34.5 bn, accounting for 21.7% of total inflows, followed by manufacturing at SAR 33.4 bn and administrative and support services at SAR 22.4 bn.

REMEMBER- Preliminary quarterly data had put 2025 net inflows at SAR 122.4 bn, with outflows of SAR 10.9 bn, as we reported in April. The Kingdom is targeting annual inflows of SAR 388 bn by 2030, or 5.7% of GDP.

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The big story abroad

US President Donald Trump has signed an executive order suspending most of the Russia sanctions in a bipartisan law he approved last month. The move is part of Trump’s broader shift toward Moscow as he seeks to end the war in Ukraine and contain fuel prices ahead of the midterm elections.

Lots of money, lots of chips: Anthropic is lining up a USD 60 bn debt package to help fund its purchase of about 1.5 GW of Google-developed custom semiconductors known as tensor processing units. Anthropic has offered Blackstone yields above 10% on the firm’s USD 9 bn share of the junior debt.

SoftBank is in early talks to buy Allied Universal, one of the world’s largest private security firms, in a deal that could value it at up to USD 18 bn excluding debt. It would be SoftBank’s latest AI and robotics bet, after last year’s USD 5.4 bn deal for ABB’s industrial robotics-centered business.

Saudi inflation edged up 1.9% in September, no pass-through from the Houthis yet

Consumer prices held steady in Saudi’s first reading since the Houthis' escalations started. Annual inflation edged up to 1.9% in September, rising from 1.8% in each of the prior four months, according to Gastat data (pdf). The move is in line with Oxford Economics’ forecast that inflation would rise slightly, but remain contained below 2% for the coming months.

Housing is still the main driver, but it’s slowing. The housing, water, electricity, gas, and other fuels component rose 3.6% y-o-y, down from 3.9% in August and 4.2% in July, adding 0.7 percentage points to the headline figure. Actual rents rose 3.5%, down from 3.9% in August and about half of September 2025’s 6.7% pace. That tracks Oxford Economics’ forecast that Riyadh’s rent freeze will slow rental inflation over the coming quarters.

Personal items and leisure saw the steepest annual rises after housing. Personal care, social protection, and other goods and services rose 3.3% y-o-y, largely on a 12.9% jump in jewelry and watch prices. Recreation, sports, and culture rose 2.5%, driven by a 4.5% increase in holiday-package prices, while transport prices climbed 2.3%. Food and beverages held at 1.4%. Furnishings, household equipment, and periodic home maintenance (down 0.5%) and clothing and footwear (down 0.4%) were the only components with annual declines.

Consumer prices were broadly unchanged from August. Housing costs rose 0.1% m-o-m, including a 0.2% increase in actual rents, while food and beverages and personal care each rose 0.1%. Education services recorded the sharpest monthly increase, up 1.2%. Those gains were offset by declines in recreation, sports and culture (down 0.6%), restaurants and accommodation (down 0.5%), clothing and footwear (down 0.3%), furnishings and household equipment (down 0.2%), and transport (down 0.1%).

The rest of the macro picture

Wholesale price growth eased: The wholesale price index (pdf) increased 4.2% y-o-y in September, down from 5.0% in August. Gastat revised the index’s methodology this month, so earlier readings have changed. The figure was mainly driven by a 7.1% rise in other transportable goods, including a 26.1% jump in basic chemicals and a 2.6% increase in refined petroleum products and fuel. Agriculture and fishery product prices also rose 4.4%.

So did manufacturing costs: The producer price index (pdf) rose 5.1% y-o-y in August, down from 5.3% in July but was flat m-o-m. The month was driven by a 5.3% rise in manufacturing prices, including a 10.5% increase in chemicals and an 8.6% rise in basic metals. Water supply, sewerage, and waste management prices rose 4.2%, while electricity, gas, steam, and air-conditioning supply rose 2.2%.

OUR TAKE- Businesses have absorbed the cost spike so far. The jump in wholesale and producer prices hasn’t reached shoppers, with consumer inflation still below 2%, and both seem to be easing. Forecasters credit the SAR’s peg and government-set fuel and utility prices for limiting the impact on consumers. There are still risks. MT Trading’s Ahmed Chreim told us in July that higher shipping and ins. costs could push non-oil inflation up if the crisis drags on, while S&P Global Market Intelligence’s Ralf Wiegert told us last month he expects some of it to reach imported goods, though businesses will absorb part of the hit.

AlShrouq Express readies drone delivery trials as Saudi tests the economics of automated delivery

AlShrouq Express is in the final development stages of a drone delivery service, with trials “planned in the coming months,” the company’s chief marketing officer, Malak Jarrar, tells EnterpriseAM. The Saudi last-mile operator is also advancing autonomous-vehicle work it first piloted with King Abdullah University of Science and Technology (KAUST) and National Defense University (NDU) several years ago, placing it among a widening set of players testing where the Kingdom’s delivery economics go next.

The commercial case turns on cost structure, Jarrar says. Conventional delivery is mostly variable cost — labor, fuel, vehicle operation and utilization, she said — while autonomous and drone delivery move more of that cost to fixed technology and hardware, making the question how many deliveries that fixed cost can be spread across. She declined to give a cost-per-delivery figure, calling it “premature” before the new trials conclude.

The scope: AlShrouq puts its network at more than 55 cities and over 50k deliveries a day for upward of 4k clients. Its earlier autonomous pilot reached more than 60 deliveries per vehicle a day “in the right environment,” Jarrar says.

Regulation sets the pace: The General Authority of Civil Aviation (GACA) this year cleared its first drone medicine-delivery permit, during Hajj — a narrow medical clearance — as Riyadh saw its first autonomous food-delivery service and Aramex trailed drone and robotics across the region. Jarrar said AlShrouq is “following the development of the regulatory frameworks closely” and designing its systems to deploy “subject to the required approvals,” preparing ahead of any opening rather than waiting for one.

Humain’s next build goes to tender, Aramco fills the pipe order books, Taiba exits a hotel

Humain data centre tender

Humain is putting its next Riyadh data centre out to bid: The PIF-backed AI infrastructure developer has issued a request for proposals for an EPC contract to build a 100 MW facility in the capital’s Al-Saad district, with bids due 8 November, Meed reports. Meed puts the contract at c. USD 1 bn.

The build is sized for heavy GPU workloads. Across a 350.2k sqm plot, the first phase splits into two 50 MW stages designed for high-density GPU clusters, with rack densities of 240-250 kW cooled by direct-to-chip liquid loops. An optional expansion would take the site to 200 MW. Phase one targets service by October 2028, phase two by January 2029.

IN CONTEXT- The tender sits inside a much larger footprint. Humain is developing the infrastructure for a planned 6 GW AI campus in the same Al-Saad district, where Al Yamama holds the enabling-works contract. Humain CEO Tareq Amin told us the company aims to bring 250 MW of data centre capacity online by the end of this year, then scale to 1.7GW in 2027.

Aramco keeps pipe makers busy

Saudi Arabia’s four listed pipe makers have booked more than SAR 3 bn in contracts since the start of the year, with about 85% of that value coming after the war began, Asharq Business reports. Direct Aramco contracts make up some 80% (c. SAR 2.4 bn) of the total, with East Pipes Integrated holding the largest share at SAR 837 mn, followed by Arabian Pipes (SAR 770 mn), Saudi Steel Pipe (SAR 535 mn), and Nomu-listed Group Five Saudi Pipe (SAR 271 mn).

ZOOM OUT- Riyadh wants to move more of its crude exports away from the Strait of Hormuz. The Kingdom aims to lift its crude pipeline capacity outside the Gulf to 10 mn bbl / d within two to three years, Energy Minister Prince Abdulaziz bin Salman told the World Petroleum Congress last week. The government is also working with Aramco to convert a gas line to dual use, which could carry 1.2 mn bbl / d of oil within seven to eight weeks before switching back to gas by May for summer demand. Further investment could raise its capacity to 3 mn bbl / d. The companies’ disclosures don’t link the contracts directly to the expansion projects, the news outlet notes.

Taiba trims its portfolio

Taiba Investments is winding down one of its hotel ventures. Its wholly owned subsidiary Dur Hospitality holds 60% of Nuzul Shada Hotel Company, which Taiba has now placed into voluntary liquidation, the company said in a Tadawul filing. Nuzul Shada carries share capital of SAR 40 mn. Taiba cast the move as portfolio housekeeping, part of a periodic review of its holdings.

Foreign investors pull USD 2.8 bn from MENA stocks as Mashreq cuts 2026 return outlook

Net foreign outflows from MENA equities jumped to USD 2.8 bn in 3Q 2026, up from USD 500 mn in 2Q, according to Mashreq Capital’s 4Q 2026 MENA Fixed Income and Equity Markets Outlook (pdf). The asset manager cut its full-year regional equity return forecast to 5-7% from 6-8%, favoring the UAE and Oman while remaining cautious on Qatar and Kuwait.

Saudi Arabia took the biggest hit: Foreign investors withdrew USD 1.5 bn from Saudi equities in 3Q, reversing USD 1.6 bn of inflows in 2Q and accounting for more than half of regional outflows. Kuwait lost USD 700 mn and Dubai USD 500 mn, while Abu Dhabi and Qatar were broadly flat. The selling intensified in September as geopolitical risks mounted.

REMEMBER- Saudi Arabia’s September sell-off was already flashing warning signs. The Tadawul All Share Index (TASI) fell 6.2% m-o-m to its lowest month-end close of 2026, while foreign investors sold a net SAR 4.33 bn, as we reported last week. Higher interest rates and geopolitical uncertainty weighed on valuations, although market watchers described the pullback as a risk-off phase rather than a structural deterioration.

The market scoreboard shows just how wide the gap has become: The S&P Pan Arab Large Composite Index slipped 0.6% in 3Q, leaving it up 2.2% year to date (YTD). UAE equities gained 5.3% during the quarter, while Qatar shed 9.7%. Oman leads the year-to-date rankings with a 33.1% gain, against Qatar’s 11.2% decline. The UAE also bucked the wider (GCC) sell-off in September, with Dubai and Abu Dhabi the only two Gulf exchanges to finish the month in positive territory.

Oman’s geography is proving an advantage. The sultanate has kept crude flowing through ports outside the Strait of Hormuz, allowing it to benefit from higher oil prices and an Omani crude premium over Brent. Mashreq remains overweight Oman, where 2Q GDP grew 5.1% and government revenue rose 13% in 1H. FTSE Russell has also placed Oman on its watch list for a possible upgrade from frontier to secondary emerging-market status, with potential implementation after 2027.

The UAE gets an overweight, led by Abu Dhabi: Mashreq favors energy infrastructure, logistics, and companies tied to the Adnoc value chain, supported by Abu Dhabi’s project pipeline and export access through Fujairah. Dubai’s weakening residential market is a different story, with prices easing, transactions slowing, and new supply accelerating. Banks also face rising funding costs as credit growth outpaces deposit growth, leaving Mashreq underweight financials overall.

Saudi Arabia remains a stock-picker’s market: Mashreq is neutral on Saudi overall but favors energy and grid infrastructure, data centers, and companies with multiyear contracted backlogs. It remains cautious about contractors exposed to the reprioritization of gigaproject spending. The disconnect between earnings and returns is striking: Saudi corporate earnings have grown an average of 8.1% annually over five years, while the equity market has returned just 1.2% a year.

Qatar and Kuwait have yet to find their footing: Qatari stocks are at their cheapest price-to-book level since 2009, but Mashreq wants evidence of recovering liquified natural gas (LNG) exports before turning more constructive. Kuwait faces its own constraints, with crude exports recovering to only around two-thirds of last year’s level. Mashreq remains underweight both markets.

Egypt is a more balanced call: Mashreq remains neutral on Egyptian equities but favors banks, which stand to benefit when monetary easing resumes. It expects rates to remain at 19% through year-end, with cuts beginning in 2027. FY 2026 growth reached 5.1%, and inflation eased to 14.5%, although September’s Purchasing Managers' Index (PMI) of 47.2 signals continued weakness in private-sector demand.

The bond sell-off has opened another window: The Bloomberg EM USD Aggregate MENA Index lost 3.8% in 3Q, taking its YTD decline to 3.2%, largely as higher US Treasury yields weighed on prices. That pushed the index yield to 6.5%, while higher-quality Gulf sovereigns now offer close to 6%. Mashreq favors UAE, Moroccan, and Egyptian conventional sovereign debt but expects full-year regional bond returns to be flat to mildly negative.

Sukuk have weathered the storm better: The Bloomberg USD Sukuk Index declined 1.6% year to date through September, compared with the MENA bond index’s 3.2% loss. Mashreq favors sovereign sukuk from Oman, the UAE, Turkey, Egypt, and Pakistan. The relative resilience comes despite a tougher issuance environment: GCC sukuk sales fell 23% y-o-y to USD 51.1 bn in 1H, as we reported last month.

TASI	10,107	-0.3% (YTD: -3.7%)
MSCI Tadawul 30	1,364	-0.2% (YTD: -1.7%)
NomuC	21,842	+0.1% (YTD: -6.2%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	52,273	+1.5% (YTD: +25.0%)
ADX	9,808	0.0% (-1.9%)
DFM	5,867	+0.6 (YTD: +0.6%)
S&P 500	7,659	-1.1% (YTD: +11.9%)
FTSE 100	10,882	+0.4% (YTD: +9.6%)
Euro Stoxx 50	6,204	+0.6% (YTD: +7.0%)
Brent crude	USD 109.86	+3.7%
Natural gas (Nymex)	USD 3.12	-3.7%
Gold	USD 4,181	+0.3%
BTC	USD 81,305	-0.3% (YTD: -7.2%)
Sukuk/bond market index	885.58	-0.1% (YTD: -3.7%)
S&P MENA Bond & Sukuk	148.50	+0.2% (YTD: -2.2%)
VIX (Fear gauge)	19.99	+21.5% (YTD: +33.7%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.3% last Thursday on turnover of SAR 3.6 bn. The index is down 3.7% YTD.

In the green: Ades Holding (+4.1%), Arabian Pipes (+3.4%), and SAL Saudi Logistics Services (+3.2%).

In the red: Saudi Paper Manufacturing (-6.7%), Saudi Fisheries (-6%), and Saudi Aramco Base Oil (-5.3%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.1% last Thursday on turnover of SAR 26.1 mn. The index is down 6.2% YTD.

In the green: Lana Medical (+7.2%), Atlas Elevators General Trading and Contracting (+6.9%), and Rimath Hospitality (+6.3%).

In the red: Mulkia Investment (-9.9%), Future Vision for Health Training (-9.1%), and Munawla Cargo (-7.4%).

CALENDAR

21 October - 30 December (Wednesday-Wednesday): Riyadh Season, Riyadh.

25-26 October (Sunday-Monday): The Global Proptech Summit, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

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

26-29 October (Monday-Thursday): The Future Investment Initiative, King Abdulaziz International Conference Center, Riyadh.

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.

30 October-1 November (Friday-Sunday): The New Global Sport Conference, Sofitel Hotel & Convention Centre, 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.

29 November-1 December (Sunday-Tuesday): The UN Trade and Development Global Supply Chain Forum, Riyadh.

29 November-1 December (Sunday-Tuesday): The Global Logistics Forum, King Abdulaziz International Convention Centre, Riyadh.

Signposted to happen sometime in 2026:

2H: Sabic’s USD 6.4 bn Fujian project in China to start production;
November: The Esports Nations Cup, Riyadh;
The World Economic Forum’s Global Collaboration and Growth Meeting, Jeddah;

2027

JANUARY

12-14 January (Tuesday-Thursday): The Future Minerals Forum (FMF), Riyadh.

FEBRUARY

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

MARCH

21-25 March (Sunday-Thursday):The World Water Forum, Riyadh.

22–24 March (Monday-Wednesday): Capital Markets Forum, Four Seasons Hotel, Riyadh

APRIL

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

JUNE

1-3 June (Tuesday-Thursday): The Saudi Entertainment and Amusement Expo, Riyadh Front Exhibition and Conference Center.

Signposted to happen sometime in 2027:

The Ocean Race finishes in Amaala on the Red Sea;
Riyadh-Kudmi transmission line to be completed;
Aero Middle East and Sand & Fun takes place in Thumamah Airport, Riyadh.

Signposted to happen sometime in 2Q 2027:

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

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