Spinneys, eyeing IPO, is opening four stores in Saudi this year

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Saudi, UAE brace for another day of nasty weather, with dust and thunder storms in the cards for much of the Kingdom

It’s a crazy day for news at home and abroad, so we’re going to jump right in with … a weather report?

Yes, weather. It didn’t rain lizards and frogs in the UAE yesterday, but flying patiofurniture was a thing as torrential rain led to power outages, flooding, and property damage in Dubai. Water coursed through the Mall of the Emirates and a conference in festival city. Runways at Dubai International Airport were also flooded, prompting a 25-minute shutdown and the cancellation of dozens of flights. And cars did their best submarine imitation on major roadways.

In context: It was the most single-day rainfall the UAE has seen in 75 years.

We’re not feeling smug, though: We’re looking at a nasty day here. The national weather center is warning that most regions in the Kingdom will face rain and sand storms today. Meanwhile, Oman is still grappling with heavy flooding that killed at least 18 people.

WATCH THIS SPACE-

#1- Companies relocating their regional HQs to Saudi could be subject to zakat depending the how much stock is held by domestic or GCC individuals who are subject to the 2.5% zakat at the end of the financial year, new guidelines on the Regional Headquarters Program (RHQ)from Zatca (pdf) showed. The rules also make clear that the the 30-year no-income tax window only applies to licensed activities by foreign firms looking to relocate here. All other revenue-generating business activities of the RHQ within the Kingdom will be taxed.

#2- Crown Prince and Prime Minister Mohamed bin Salman is working the phone lines as Arab leaders try to tamp down prospects of a broader conflict involving Israel and Iran. UAE President Sheikh Mohamed bin Zayed Al Nahyan phoned Prince Mohammed yesterday to discuss how to prevent the conflict from spiraling further, state news agency SPA reported overnight. The subject also led the crown prince’s call yesterday with Qatar’s Sheikh Tamim bin Hamad Al Thani, SPA said.

#3- PIF-owned agricultural and livestock investment firm Salic is planning investments in Pakistan’s food and commodities sectors with a focus on rice, its CEO Suleiman Al Rumaih told Al Arabiya in an interview (watch, runtime: 1:07). “We’ve been offered more than one opportunity which we’re planning to examine carefully. We look forward to joint investments in the near future,” Al Rumaih said, without providing further details.

BACKGROUND- PIF companies have been spearheading the Kingdom’s drive to bolster food security. Salic acquired a 10.7% stake in Brazilian food processor BRF through a follow-on share offering in July last year. Halal Products Development Company formed a joint venture with BRF in August to help develop the halal meat industry in the region.

!_InserLine_!

#4- Riyadh-based construction and mining firm Mohammed Hadi Al-Rasheed has issued a supplementary prospectus for its planned offering on parallel market Nomu, Argaam reported yesterday. It added Al Rajhi Capital and Saudi Fransi Capital to its list of receiving banks.

BACKGROUND- Mohammed Hadi Al-Rasheed said last month that it is gearing up to float 1.44 mn ordinary shares on Nomu.

#5- Mawani wants port operators to up their operational efficiency game: Saudi Ports Authority has warned the operators of the Jeddah and Dammam ports that it would fine them SAR 10k for each container that is not in-compliance with the authority’s timeline rules for carrying out customs procedures, resulting in operational delays, Aleqtisadeyah reports.

ALSO- Mawani is making it obligatory for importers to enter their data through its importing and exporting e-platform Fasah starting Wednesday, 1 May, it said in a post on X.

#6- Jana Financial has gotten the okay to experiment with the distribution of investment and real estate funds as part of a fintech license, according to a Capital Market Authority statement.

#7- Riyadh Season will become an official partner of the World Boxing Council under a new agreement, SPA reports.

THE BIG STORY ABROAD-

Strap yourselves in, folks: It’s shaping up to be a very busy day for business news in our region and around the world.

#1- Are we in the “Tepid Twenties”? That was the warning from IMF chief Kristalina Georgieva to officials and businesses around the world as we headed into this week’s IMF and World Bank spring meetings. It’s only by driving growth, harnessing AI, and dealing with climate change that we can turn them into the “Transformational Twenties, she said.

Her caution runs through the latest update to the IMF’s World Economic Outlook, which shares top billing on this morning’s front pages (Bloomberg | CNBC) with Jay Powell’s remarks on interest rates (below).

The global economy will grow by 3.2% in this year and next — on par with last year — the IMF writes in the WEO. That’s essentially the midpoint between the really slow growth we saw in the 2010s and the rapid growth we saw in the early years of this decade during the freemoney era. (We have more on the WEO’s outlook for Saudi in this morning’s news well, below.)

The tent poles: The US economy will grow at a 2.7% clip, faster than most advanced economies, while China’s GDP will expand at a 4.6% clip, unchanged from last year.

A flashing red light: “Progress toward inflation targets has somewhat stalled since the beginning of the year,” IMF chief economist Pierre-Olivier Gourinchas said at a news conference on the WEO yesterday.

#2- Enter Jay Powell, who “dialed back expectations of a [US] rate cut” in remarks that “called into question whether the Federal Reserve will be able to lower interest rates this year without signs of an unexpected economic slowdown,” the Wall Street Journal reports. His worry: Inflation in the first quarter was higher than he’d have liked. Powell’s remarks also lead the front page of the Financial Times.

ALSO MAKING HEADLINES THIS MORNING:

#3- In geopolitics: We’re still waiting for Israel’s next move on Iran after Tel Aviv’s war cabinet yesterday postponed its meeting to today.

The hope in Western policymaking circles: That a basket of new sanctions on Iran might convince Israel not to retaliate for Iran’s drone and missile attack overnight Sunday (itself retaliation for an unprecedented attack by Israel on Iran’s embassy in Syria). The sanctions will be unveiled “in the coming days,” the White House national security advisor said overnight.

#4- In business: Microsoft has made a massive USD 1.5 bn investment in the UAE’s G42, arguably the region’s most important AI firm, EnterpriseAM UAE reports. The transaction completes G42’s pivot away from China and onto US technology, Bloomberg notes. The story is also getting prominent play in the Financial Times.

Speaking of AI: Andreessen Horowitz has raised USD 7.2 bn to invest in AI-anchored companies, the firm said in a note yesterday.The high-profile VC’s fund is among the biggest to close since the downturn in the VC “ecosystem” began a couple of years back.

Big themes for the fund: Infrastructure, growth, games, apps, and “ American dynamism ” (don’t get us started).

DATA POINT-

#1- Saudi’s foreign reserve assets grew 4% y-o-y to SAR 1.7 tn in March 2024. Foreign reserve assets were also up 5% m-o-m, according to SAMA figures.

PSAs-

#1- TAX DAY COMETH- The Zakat, Tax and Customs Authority said businesses have until Monday, 29 April 2024, to submit their 2023 tax returns, according to a statement.

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SPORTS-

#1- The much-anticipated clash between Al Hilal and UAE’s Al Ain in the Asian Champions League semi-final will be played today after it was pushed back yesterday due to “adverse weather conditions” in the UAE, the Asian Football Confederation said in a statement yesterday. The match will be played at 7pm local time today.

#2- Proposed fixtures for 2025 Saudi Pro League season have been sent to clubs for review. The proposal sees the first SPL matchday set for 22 August. Clubs are looking at conflicts arising from participation in the AFC Champions League or any international tournament or games by the national team, Asharq Al Awsat reports.

#3- Whipping, no more? The Saudi Arabian Football Federation and Football Players Association of Saudi Arabia have emphasized their commitment to safeguarding the safety of all football enthusiasts, according to a joint statement.

The remarks came after a fan whipped a player at the Saudi Super Cup Final last weekafter the player threw water at the fan following an altercation. SAFF pledged to review its spectator code of conduct to “ensure updated rules and regulations are put in place to swiftly and effectively impose suitable penalties to help avoid any repeat of such incidents.”

CIRCLE YOUR CALENDAR-

The Gulf Film Festival (GFF) runs through Thursday, 18 April in Riyadh. Organized by the Film Commission in cooperation with the Gulf Cooperation Council (GCC) General Secretariat, the five-day event will showcase a selection of 29 films from across the region. It will also include three training workshops and six educational seminars focused on fostering artistic dialogue and raising awareness of cinema's social impact.

Riyadh will host the 2024 IsDB Group annual meeting from Saturday, 27 April until Wednesday, 30 April.

Riyadh will host a special meeting of the World Economic Forum on 28-29 April.

Automechanika Riyadh will open on Tuesday, 30 April till Thursday, 2 May at the Riyadh International Convention and Exhibition Center.The annual trade fair will showcase the automotive industry’s latest advances and innovations.

The King Salman bin Abdulaziz Royal Reserve Festival will kick off today at the Cultural Center in Al-Qurayyat governorate, state news agency SPA reports. The art and culture event runs until Thursday, 18 April.

Innovation Week 2024 will kick off on Sunday, 21 April, at the King Abdulaziz City for Science and Technology (KACST) in Riyadh.

Spinneys is coming to Saudi this year, aims to open at least four new stores every year

Supermarket chain Spinneys us be coming to town: The UAE-headquartered franchisee of supermarket chain Spinneys plans to open several stores in Saudi this year, the company said in its prospectus (pdf) ahead of its IPO of a 25% stake on the Dubai Financial Market (pdf).

Its local partners: Members of Al Hokair family, including Sami, Musaad, and Majed Abdul Mohsen, who will hold a 50% in the joint venture through which Spinneys will enter Saudi.

The supermarket chain is expanding into Saudi for the first time: Spinneys plans to open its first store here in 1H 2024, it said in its intention to float, and aims to open another three by the end of the year and at least four new stores in the Kingdom every year for the next five to 10 years, CEO Sunil Kumar told Bloomberg in separate remarks.

Look for a June opening in Riyadh, Kumar told Reuters, with a total of three more between the capital and Jeddah set to welcome shoppers before year’s end. “These are the two cities we are targeting because that's where our customer base — affluent, high disposable income customers — is living.”

The company will open in La Strada, KAFD, U-Walk Jeddah, and U-walk Riyadh, it said in its prospectus, with leases on the first two already in hand.

Spinneys claims the local market already knows it: Despite having no stores in Saudi, “30% of 511 people surveyed in Riyadh in April 2022 by Nielsen have an awareness of the Spinneys brand and 70% of the people surveyed responding they would consider visiting a Spinneys store,” it said.

The company isn’t saying how much it has earmarked for investment in Saudi, saying in its prospectus only that investment here is “supported by structural tailwinds … including a projected 6.4% CAGR in the KSA’s [sic] affluent population between 2022 and 2028” and the growing contribution of the non-oil economy as the Kingdom becomes one of the world’s top 15 economies by 2030. Saudi has the “largest population and the largest grocery market in the GCC region,” it noted.

Fast facts: Spinneys’ first ever store was established in Alexandria, Egypt, in 1924, by Arthur Spinney. It later established its presence in the UAE in the 1960s, before expanding into Oman in 2003 with the operation of Al Fair. It also brought Waitrose into the UAE in 2008. While the Spinneys brand name is also used in Egypt, Lebanon, Syria, and Iraq, it does so through trademark licensing agreements inked with Spinneys Dubai.

EnterpriseAM UAE has more on the planned IPO here. Shares should start trading on 9 May, it reports.

STC named best Saudi workplace by Linkedin, lots of PIF companies on the list

State-owned telecom giant STC has clinched the top spot as Saudi’s best workplace, LinkedIn’s 2024 Top Companies list showed yesterday. It unseated Aramco as Saudi’s top workplace this year, ending the oil giant’s three-year streak at the top of the list.

PIF companies take the lead: The Public Investment Fund-owned developer Red Sea Globalcame in at second place, followed by Aramco which Ceer — a JV between the PIF and Taiwanese multinational electronics contract manufacturer Foxconn — came in fourth followed by PIF-owned real estate developer Roshn. The list also includes Saudi’s third largest bank by assets Riyad Bank, national carrier Saudia, Procter & Gamble, and Chalhoub Group among others.

You can thank the government for that: Linkedin attributed Saudi’s strides in luring in skilled talent to a regional HQs mandate for foreign firms. The plan, a cornerstone of Crown Prince and Prime Minister Mohamed bin Salman's drive to build a diversified, globally significant non-oil economy, has been in the works since February 2021 and gives incentives to companies that make Saudi their GCC headquarters.

And more: Officials unveiled earlier this year a new special-talent residency program for priority sectors including healthcare, digital technologies, financial services, advanced manufacturing, energy, mining, logistics, tourism infrastructure and others. A hunt for talent has pushed the government to recently reconsider monthly fees applied since 2017 for the dependents of expats.

What they said: "This year’s lists show how companies in the UAE and Saudi Arabia are continuing to grow and expand, which further cements the region’s reputation as a leading business hub. Our research has previously indicated professionals’ appetite for new career moves in 2024, and this list recognizes those employers that can be a top choice for professionals looking to make those moves,” LinkedIn’s Senior News Editor Salma Altantawy said.

How did they come up with this list, anyway? Linkedin uses its own data to rank firms based on seven factors that it says contribute to career development, including chances to advance growth, the scope to learn, workplace equity, company stability, and company culture, it said. Only companies with at least 500 full-time employees in the country are eligible. The ranking period spans January-December 2023.

IMF joins World Bank in trimming (ever so slightly) Saudi’s growth outlook

The International Monetary Fund (IMF) has slightly trimmed its Saudi’s growth forecast to 2.6% this year, down from the 2.7% it penciled back in January, it said in its latest World Economic Outlook (pdf) yesterday,

BACKGROUND- The IMF first lowered its projections for Saudi GDP growth this to 2.7% in January from an earlier forecast of 4.0% in October 2023 on the back of combined effects of lower oil prices and production cuts. The Kingdom’s economy saw a 0.9% contraction last year, down from an 8.7% growth in 2022.

We’ve yet to see officials follow suit: The Finance Ministry is targeting a GDP growth of 4.4% in its budget for this fiscal year, Finance Minister Mohamed Al Jadaan said in December.

LOOKING AHEAD- 2025 is looking to be a good year: The IMF raised its Saudi GDP growth forecasts next year to 6.0%, up from the 5.5% projected in January.

REGIONALLY- The IMF is forecasting 2.8% growth in Middle East and Central Asia, slightly down from the 2.9% forecast in January. It maintained its projections in January for GDP growth in Middle East and Central Asia for next year at 4.2%.

The World Bank slashed earlier this week the Kingdom’s growth forecast to 2.5% in 2024, down from the 4.1% it penciled in January 2024. It sees the non-oil economy growing a strong 4.8% in 2024, up from its 4.3% projection last November.

Odoo expands local data hosting solution in the region through Google data center in Dammam

Belgium-based business software developer Odoo has expanded its local data hosting solution through Google’s data center in Dammam, it said in a press release. The new service will be available to all of its SaaS and Odoo.sh customers in the Middle East as it expands its footprint in the region.

Breaking down the jargon: Existing SaaS and Odoo.sh customers will be able to migrate their hosting to the data center in Dammam, ensuring compliance with local regulations on data security, privacy and governance. Meanwhile, new clients will be given the option to migrate their data upon request.

What they said: “Saudi Arabia’s commendable initiative to launch data centers within its country, showcased its role in promoting digital upskilling among businesses in the MENA region, This has helped us expand and meet the hosting requirements of our customers in the region,” Odoo Middle East DWC Managing Director Pavitra Singh said.

About Odoo: The Belgium-born company offers a suite of open-source business applications covering everything from accounting and project management, to inventory management and marketing, among others.

Not the first local data solution involving Google: New York-listed customer experience management platform Sprinklr unveiled last month a local data hosting solution on Google Cloud for Saudi clients who need local data hosting solutions.The collaboration with Google Cloud marks Sprinklr’s expansion into the local market as the only player of its kind to offer a local data hosting option.

eXra’s net income up 11.2% y-o-y in 1Q. Plus: Aviation, manufacturing and telecoms

EARNINGS WATCH-

United Electronics Company (eXtra)’s net income grew 11.2% y-o-y to c. SAR 94 mn in 1Q 2024, it said in a disclosure to Tadawul yesterday. Its revenues were up 9.9% y-o-y over the same period to SAR 1.6 bn on the back higher sales volume from its online sales. A 19% growth in its consumer finance portfolio also anchored eXta’s uptick in revenues, it said.

Speaking of consumer finance: The company is looking to sell via IPO as much as 30% of the company that owns and operates Tasheel, its non-bank financial services arm.

AVIATION-

Chinese carrier China Southern Airways has launched twice-weekly service to Riyadh from Beijing Daxing International Airport, with flights running Tuesdays and Saturdays, state news agency Xinhua reports. The first flight landed here yesterday.

DEBT WATCH-

The board of Nomu-listed Ladun Investment has approved the signing of a SAR 573 mn credit facility with Al Rajhi Bank, it said in a disclosure to Tadawul yesterday. The funds will be channeled towards the company’s working capital, the purchase of land in Riyadh’s Rabwa neighborhood and the construction of Ladun Tower. Some of the funds will be used as advance payments for five of its subsidiaryBuilt Industrial’s projects with the government which it said was worth SAR 1.5 bn.

INS-

Saudi EXIM signed a number of reins. treaties with global reins. firms led by the world's second biggest reins. company Swiss Re, it said in a post on X yesterday. The agreements aim to expand ins. Coverage to help drive growth of local exporters in overseas markets. No further details were provided on the treaties.

MANUFACTURING-

Tadawul-listed Zoujaj said it expects its sixth glass container production line to be completed in December this year, it said in a disclosure to Tadawul yesterday. The SAR 47 mn line will have an annual production capacity of 25k tons. It is set to generate SAR 10 mn in additional annual net income starting Q1 2025, it added. The board of the glass producer approved the new production line in November 2023.

TELECOM-

Solutions by stc has renewed a three-year SAR 140 mn VMware license contract with parent company stc, it said in a filing to Tadawul.

BlackRock, the world’s largest asset manager, is all-in on Saudi

It’s a busy morning on Planet Finance. Here’s what you need to know:

#1- The world’s biggest asset manager is on an “aggressive hunt for growth in Saudi Arabia,” Bloomberg writes in a long piece out overnight. CEO Larry Fink is here to visit multiple times per year, its 20-person Saudi team is the biggest among its peers and challengers, and the firm is “embedding itself in different parts of the country’s institutions and capital markets,” the business information service writes.

But BlackRock will face plenty of competition in Saudi, it warns, noting that Franklin Templeton has recently opened an office here, that KKR just got regulatory clearance to add new services to its license, Brookfield is here, and so is Macquarie.

#2- A terrible, horrible, no good, very bad year for private equity? That’s the contention of the outgoing CIO of Princeton University’s endowment, who told the Financial Times in an exclusive that private equity is facing its “worst-ever environment … as a slump in dealmaking and public listings weighs on returns.” Andrew Golden, a PE bull, has has run the USD 34 bn fund for nearly 30 years.

#4- FURTHER AFIELD- China’s capital markets are increasingly isolated: Declining global investor interest in China has pushed activity in the country’s equity capital markets to multi-decade lows, writes the Financial Times.

By the numbers: Mainland IPOs along with follow-on and convertible share offerings have brought in some USD 6.4 bn in the first four months of 2024, the lowest number ever recorded. Outbound M&A transactions came in at their lowest since 2005 at USD 2.5 bn.

What gives? Investors are spooked by the meltdown of major Chinese real estate players, a crackdown on the business elite, and rising tensions between Beijing and Washington.

On the other hand… China’s economy grew at a faster-than-anticipated rate of 5.3% y-o-y in 1Q 2024, according to data from China’s National Bureau of Statistics, as we noted yesterday.

MARKETS THIS MORNING-

Asian markets are trending mainly lower, with the Shanghai Composite (+0.7%) the only outlier at dispatch time. US and European stock futures are little changed, with most major benchmarks up very slightly overnight after the S&P 500 notched yesterday its third day of losses.

TASI	12,500	-1.6% (YTD: +4.5%)
MSCI Tadawul 30	1,578	-2% (YTD: +1.8%)
NomuC	26,309	-0.9% (YTD: +7.3%)
USD : SAR (SAMA)	3.75 Buy	3.75 Sell
Interest rates	6% repo	5.5% reverse repo
EGX30	29,400	-0.7% (YTD: +18.1%)
ADX	9,194	-0.6% (YTD: -4.7%)
DFM	4,184	-1.4% (YTD: +3.1%)
S&P 500	5,051	-0.2% (YTD: +5.9%)
FTSE 100	7,820	-1.8% (YTD: +1.1%)
Euro Stoxx 50	4,917	-1.4% (YTD: +8.8%)
Brent crude	USD 90.14	+0.04%
Natural gas (Nymex)	USD 1.73	+2.4%
Gold	USD 2,408	+1%
BTC	USD 63,950	+1.2% (YTD: +110.2%)

THE CLOSING BELL: TADAWUL-

The TASI fell 1.6% yesterday on turnover of SAR 10.2 bn. The index is up 4.5% YTD.

In the green: Red Sea (+10%), Atheeb Telecom (+6.6%) and SSP (+4.6%).

In the red: Advanced (-5.3%), ELM (-4.7%) and Sipchem (-4.3%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.9% yesterday on turnover of SAR 266 mn. The index is up 7.3% YTD.

In the green: Pro Medex (+16.2%), Tam Development (+7.6%) and Obeikan Glass (+6.6%).

In the red: Raoom (-7.4%), Watani Steel (-5.6%) and Mayar (-5%)

CORPORATE ACTIONS-

#1- Al Jouf Cement has started the liquidation of its subsidiary Eastern Industrial Company, it said in a disclosure to Tadawul. Al Jouf expects to get a full or partial return on its SAR 136 mn investment, forecasting positive impacts on its books, it added.

#2- Al Moammar Information Systems’ BoD recommended the distribution of a SAR 24 mn dividend for 1Q 2024 at SAR 0.8 per share, it said in a disclosure to Tadawul. The IT company also outlined its dividend policy up until 2026, which will seek to maintain a minimum dividend per share equivalent to 50% of its annual net income, it said in another disclosure. MIS later issued a correction announcement, explaining that dividends have been deferred until the audited financial statements are issued.

ALSO FROM MIS: Trading of the company’s shares was suspended yesterday for one hour upon the company’s request, according to a Tadawul disclosure. MIS’ reasoning for the suspension was that it would announce a “material event,” but no further details were provided.

Saudi plans significant investments to help shore up crisis-hit Pakistan’s finances, says bin Farhan

Saudi is planning significant investments in Pakistan, Foreign Minister Prince Faisal bin Farhan said during a joint press conference with Pakistani counterpart Ishaq Dar (watch, runtime: 26:52). He said his delegation was briefed on potential investments in various sectors in Pakistan, stressing “very, very significant confidence” to move forward with the projects. “There is a lot of untapped potential [in Pakistan] that is clear to everyone and just needs to be tapped and here working together we will do what we can with our colleagues in the government of Pakistan to make that happen,” he said. He did not provide further details, but Dar said some of the areas of interest included agriculture, IT, mining, energy and other sectors.

Gaza crisis + recent regional escalations: The FM described the international community’s efforts towards the ceasefire in Gaza as “wholly insufficient … We are now well beyond 33k civilians killed. We are now actively discussing the potential of famine in Gaza…This is an unacceptable situation, it is a complete failure of the international system…,” he said. Bin Farhan said that “we do not need more conflict in the region” in an indirect mention of rising tensions between Iran and Israel. “We are already in an unstable region. The humanitarian catastrophe in Gaza is already inflaming the region. We do not need more conflict in our region, we do not need more confrontation in our region. So it is our position that de-escalation must be everybody’s priority,” he said.

Background: The two-day visit by the FM comes nearly a week after Pakistan’s prime minister discussed a USD 5 bn investment package during a meeting in Makkah with Crown Prince Mohammed bin Salman. Saudi has been among key backers of crisis-hit Pakistan, which is now struggling with depleted reserves. The Kingdom has extended the term of a USD 3 bn in deposit at the State Bank of Pakistan for an additional year, maturing in December this year. Pakistan also received last year USD 2 bn in financial assistance from the Kingdom to shore up finances.

CALENDAR

APRIL

11-20 April (Thursday-Saturday): IMF and World Bank spring meetings, Washington, DC.

14-18 April (Sunday-Thursday): The King Salman bin Abdulaziz Royal Reserve Festival, Al-Qurayyat.

21-27 April (Sunday-Saturday): Innovation Week 2024 at KACST, Riyadh.

27-30 April (Saturday-Wednesday): IsDB Group Annual Meetings, Riyadh.

28-29 April (Sunday-Monday): World Economic Forum Special Meeting, Riyadh.

29 April-1 May: Future Hospitality Summit at Al Faisaliah Hotel, Riyadh.

30 April-2 May: Automechanika Riyadh 2024 at Riyadh International Convention and Exhibition Center.

MAY

2-5 May (Thursday-Sunday): Townhall Expo, Riyadh.

6-9 May (Monday-Thursday): Saudi Smart Manufacturing, Riyadh.

6-9 May (Monday-Thursday): Saudi Smart Logistics, Riyadh.

13-15 May (Monday-Wednesday): Smart Future Expo, Riyadh.

13 May (Monday): Saudi Giga Projects, Riyadh.

19-21 May (Sunday-Tuesday): Saudi Energy Convention, Riyadh.

20-21 May (Monday-Tuesday): Future Projects Forum, Four Seasons Hotel, Riyadh.

20-22 May (Monday-Wednesday): Future Aviation Forum 2024, Riyadh.

21-23 May (Tuesday-Thursday): The Saudi Food Show, Riyadh.

Signposted to happen sometime in May:

Global Trade Review (GTR): KSA
Saudi Energy Convention

JUNE

4-7 June (Tuesday-Friday): Saudi Sports Show, Riyadh.

4-7 June (Tuesday-Friday): Aqarat Expo, Riyadh.

5 June (Wednesday): World Environment Day.

14-22 June (Friday-Saturday): Banks and capital markets closed for Eid Al Adha holiday.

AUGUST

12-15 August (Monday-Thursday): The Saudi Food Expo, Riyadh

SEPTEMBER

11-12 September (Wednesday-Thursday): The Saudi Event Show, Riyadh.

17-19 September (Tuesday-Thursday): EV Auto Show, Riyadh.

24-26 September (Tuesday-Thursday) Saudi Infrastructure Expo, Riyadh International Convention and Exhibition Center, Riyadh.

23 September (Monday): National Day (national holiday)

NOVEMBER

2-9 November (Saturday- Saturday): WTA Finals, Riyadh.

26-28 November (Tuesday-Thursday): Saudi Electricity Expo, Riyadh.

11-14 November (Monday-Thursday): Cityscape Global, Riyadh.

DECEMBER

2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification, Riyadh.

Signposted to happen sometime in 2024:

The AFC Champions League Elite

2025

FEBRUARY

10-13 February (Monday-Thursday): Leap 2025, the Kingdom’s premier tech investment conference

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