Business leaders are optimistic on the GCC economy

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Tabby targets 2025-2026 window for Saudi IPO

Good morning and happy THURSDAY, ladies and gentlemen. We’re rounding out the week with a reasonably busy issue this morning, leading with the IMF’s staff report on the Saudi economy following its annual Article IV consultations.

HAPPENING TODAY-

The Saudi Arabia Snooker Masters continues at the Green Halls in Riyadh, with match frames set to run until Saturday, 7 September, state news agency SPA reports. The quarter-finals are scheduled for today.

WEATHER- Riyadh’s mercury will peak at 41°C, before dropping to a low of 28°C. Meanwhile, Jeddah will continue to see some rainfall, with a high of 39°C, and a low of 31°C.

PSAs-

#1- Tougher fines for food safety violations are up for public feedback: The Saudi Food and Drug Authority proposed tougher fines for violating food safety laws and put the draft table of violations and penalties (pdf) up for feedback on Istitlaa. The revisions aim to align penalties with the severity of violations, enhance enforcement efficiency, and support food safety objectives.

Penalties range from SAR 100k-1 mn, with the lower end of the range set for infractions such as using prohibited food packaging or misleading claims and advertisements related to food. The higher end of the range is reserved for selling unsafe products, with the highest penalty set for selling food with banned or toxic substances.

#2- The Municipalities and Housing Ministry has suspended fees for commercial licenses for hotels, hotel apartments, and residential resorts, in a bid to boost tourism growth and drum up investments, state news agency SPA reported. Investors are encouraged to use the Balady platform for licensing.

WATCH THIS SPACE-

IPO WATCH #1- BNPL platform Tabby plans to IPO in Saudi in 2025 or 2026, General Manager Abdulaziz Saja told Argaam. Tabby has yet to specify whether it will list on Tadawul’s main market or Nomu, and the size of the stake it plans to take to market. Tabby plans to relocate its headquarters to Saudi Arabia from the UAE ahead of the IPO, after having signed an agreement with the Investment Ministry last year.

IPO WATCH #2- Tamkeen HR’s request to IPO has earned the green light from the Capital Market Authority, allowing it to list a 30% stake (equivalent to 7.95 mn shares) on Tadawul, according to a statement.

#3- US process management and automation platform Nintex opened a new office in Riyadh’s central business district Al Olaya, with plans to scale up its investments in the country, according to a company statement. Nintex plans to hire and build out its Saudi team with local talent. The company also plans to funnel more investments into its Nintex Automation K2 product offerings, a key product within the region. The investment ticket was not disclosed.

#4- The General Authority of Civil Aviation (GACA) plans to issue new licenses for private airlines in Saudi airports, GACA President Abdulaziz Al Duailej told Al Arabiya. No further details were provided.

PROJECT UPDATE-

We have a price tag for Saipem’s EPC contracts awarded by Aramco: Saudi Aramco awarded two contracts to Milan-based contractor Saipem for engineering, procurement, and construction works at Marjan oil and gas field, Zuluf oil field, and Safaniyah oil fields worth a combined USD 1 bn, according to a press release. Sapiem’s statement follows a report by MEED last month which had cited contract values between USD 2-2.5 bn.

DATA POINTS-

#1- More than 5.3 bn sqm in property deeds have been issued online through the Real Estate Market platform within a year of its launch, according to a Justice Ministry statement.

#2- The Kingdom secured USD 2.1 bn of the GCC’s total USD 3.7 bn digital entertainment revenue in 2022, Gulf News reports, citing ICT Ministry data. The kingdom’s video game market alone generated USD 1.8 bn.

SPORTS-

#1- Chilean defender Enzo Roco has signed for Al Riyadh FC from second tier side Al Tai, Asharq Al Awsat reported citing statements by the club. However, Roco will not be registered with his new club until the winter transfer window.

#2- Al Ittihad emerged as the fourth-highest net spending club globally in this summer’s transfer season, shelling out a total of EUR 114 mn, according to Transfer Market. The most expensive play of the season was signing French winger Moussa Diaby from Aston Villa for USD 60 mn, Asharq Al Awsat reported. Meanwhile, Al-Nassr landed in the sixth spot, spending a total of USD 108 mn, with French defender Mohamed Simakan from Leipzig as their top signing at USD 45 mn.

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THE BIG STORY ABROAD-

With no one story dominating headlines in the business press this morning, we bring you a smattering of news at the intersection of business and US politics, alongside a heads-up on OPEC’s latest output hike deliberations.

White House may ax Nippon Steel’s acquisition of US Steel, with Joe Biden reportedly close to blocking the Japanese company’s USD 14.9 bn bid in light of “national security concerns” — a concern that many Washington insiders and experts in the field have privately ridiculed. Election year politics are truly glorious.

The timing of the news is far from coincidental, with the move — which Trump and Harris also say they support — understood to be a pivot to unionized workers in the swing state of Pennsylvania concerned about the takeover ahead of the November election.

For Trump, it’s not only his poll numbers that are slipping: Shares in the Republican nominee’s Trump Media & Technology Group took a tumble yesterday, wiping all the company’s gains since January. Under a lock-up agreement, Trump is unable to sell his shares until the end of this month and has had to sit tight as his majority stake in the company has lost more than half its value since March.

ON WALL STREET– Nvidia’s terrible Tuesday may not have been as bad as we told, as the AI chip goliath rejected a Bloomberg report saying that it had been subpoenaed in an antitrust probe being carried out by the US Department of Justice.

IN THE OIL MARKETS- OPEC+ is considering delaying a planned 180k bpd output hike in October after prices fell to their lowest level in a year on the back of weak economic growth and lackluster demand from China — the world’s largest oil importer.

CIRCLE YOUR CALENDAR-

The EFG Hermes London Conference kicks off in less than a week: EFG Hermes will hold its annual conference in London on 9-12 September, giving investors “unique and unparalleled access to leading equities in MENA and key frontier emerging markets.”

The Crown Prince Camel Festival runs until Tuesday, 10 September at the Taif Camel Racing Track, featuring 610 rounds of racing and a purse of SAR 56 mn.

SRMG Academy’s technology journalism course will kick off in Riyadh on Sunday, 15 September. The five-day, TikTok-backed program will run until 19 September.

Fenaa Alawwal cultural center will kick off the contemporary art forum Muntada FAA on Sunday, 15 September at the Diplomatic Quarters in Riyadh. The forum runs until Thursday, 19 September.

Smart Cities Saudi Expo 2024 runs 24-26 September at the Riyadh International Convention & Exhibition Center.

The two-day Kingdom Business and Luxury Travel Congress will kick off on Wednesday, 25 September, at the Crowne Plaza Riyadh RDC Hotel and Convention.

The Entrepreneurship World Cup will be hosted in Riyadh from 5-9 November at the Riyadh Front Exhibition & Conference Center. Organized by Monsha’at in partnership with Misk Foundation and the Global Entrepreneurship Network, the event will see 100 startups from around the world compete for a purse of up to USD 1 mn.

IMF reiterates its support for Saudi Arabia’s pacing out of gigaprojects

The International Monetary Fund (IMF) reiterated its support of the government’s recalibration of some of the national gigaprojects, some of which projects will be downsized and others will have a longer delivery time, according to a report from the multilateral lender (pdf). “This welcome exercise will help ensure proper sequencing of spending to reduce overheating risks and maintain macroeconomic stability and fiscal sustainability,” the report reads. The report is an annual review of the health of our economy, also known as Article IV consultations.

BACKGROUND- A government committee led by Crown Prince and Prime Minister Mohammed bin Salman is reportedly wrapping up a review of gigaprojects with a view to trimming spending at some. This comes as officials continue to hammer the idea of preventing the economy from overheating on the back of its economic diversification push while also saying they’re willing to accept modest fiscal deficits as the price of pursuing long-term diversification.

The lender expects Saudi’s overall GDP growth to rise to 4.7% in 2025 “assuming the 1 mbpd voluntary oil production cuts will be gradually phased out from October 2024 to September 2025. The IMF then expects annual growth to average at 3.7% in the following years. Non-oil GDP growth is expected to reach 3.5% in 2024, and 3.9-4.4% by 2025, with potential growth up to 8% if the National Industrial Strategy is successfully implemented.

Other forecasted figures: Inflation is projected to remain around 2% over the medium term, supported by the USD peg, domestic subsidies, and a flexible supply of expat labor. Saudi’s current account surplus is expected to shift to a deficit starting this year, averaging 2.2% of GDP from 2026 to 2029. Finally, the IMF expects our foreign reserves to fall to USD 483 bn by 2029, but will remain 144% above the IMF’s recommended level, covering 13.4 months of imports.

Acwa Power unit lands a SAR 2.6 bn IWP project in the UAE

UAE-based Hamriyah Developer Holding — 45% owned by Acwa Power — will develop the Hamriyah desalination plant in Sharjah under a SAR 2.6 bn water purchase agreement with Sharjah Electricity Water and Gas Authority (Sewa), Acwa Power said in a disclosure to Tadawul. There’s no publicly available information about the other shareholders of Hamriyah Developer Holding.

The details: The 30-year EPC contract will see the renewables giant establish an independent water plant (IWP) with a daily production capacity of 410k cubic meters. The project is expected to come online by 2Q 2028.

Acwa had a busy summer: Earlier this week, an Acwa Power-led consortium secured SAR 9.7bn in financing for three mega solar PV projects in the Kingdom. Acwa also broke ground on a 200 MW wind plant and 100 MW battery station in Uzbekistan last month, with the 700 MW solar plant in Qassim kicking-off operations in mid-August. The company is also gearing up for a capital increase through a SAR 7.1 bn rights issue.

Business leaders see a strong year ahead for Saudi + wider GCC

Executives and decision makers expect to see strong economic performance across the GCC this year, despite macroeconomic headwinds, according to the results of a survey in advisory and PR firm Teneo published in its report, Transformation in Numbers: Unpacking GCC Decision Makers’ Priorities and Perspectives (pdf).

Saudi respondents were the most bullish of the lot, with 82% of them expressing positive sentiment on the region’s economic performance in 2024, followed by respondents in the UAE at 74%. Those surveyed in Kuwait, Oman, Bahrain, and Qatar were more bearish in their outlook — albeit still mostly positive — with 53-57% of those surveyed saying they see improved economic performance this year.

Survey methodology: Teneo surveyed 480 individuals it labels as decision makers, 55% of whom are in the private sector and 45% in the public sector. These include CEOs, senior VPs, board chairmen, and other senior and C-suite executives working at companies with sizes ranging between 100 and 5k employees. The majority of companies represented in the survey are sized on the lower end of the spectrum with 500-1k employees.

Oil prices + economic diversification to thank: The results of the survey are broadly more positive than Teneo’s 2024 CEO and Investor Outlook Survey, which reported less than half (47%) of CEOs as having a positive outlook on global macro conditions. “This more positive outlook can arguably be attributed to a resilient set of regional economic drivers, such as continuously high oil and gas prices combined with further economic diversification efforts central to the GCC’s broader and country-specific strategies.”

IN CONTEXT- Saudi + UAE + Bahrain are expected to see GDP growth: The Kingdom is expected to record 1.5% GDP growth this year before accelerating to 5.6% in 2025, Riyad Capital said in its latest forecasts. While Saudi’s GDP outlook is positive, economists expect it will lag behind its GCC peers, with a Reuters poll that predicts a more conservative 1.3% growth clip for the Kingdom also sees the UAE leading the region with 3.7% growth, followed by Bahrain at 2.6%. Meanwhile, Kuwait “faces significant financial challenges” and is expected to record a USD 19.1 bn fiscal deficit in FY 2024-25, while Oman’s diversification plans are more conservative than its larger Gulf peers, reads the report.

Attracting and retaining investments are part and parcel for economic growth, with 88% of overall respondents saying that potential investments will pave the way for long term positive impact. Some 51% of Saudi respondents — and 53% from the wider region — feel that it is more important to adopt sustainable practices to attract international investments, while 50% cite the adoption of investor-friendly tax policies as a priority.

Most respondents expect the GCC will become a “global business and financial epicenter” within the coming 25 years, with 31% touting Saudi as a forthcoming global business and finance center, and 32% predicting that the Kingdom will remain a leading energy supplier.

GCC policymakers are increasingly looking to tech and AI to drive regional growth: 64% of respondents feel that fully transitioning into the technological age will benefit the GCC in the next 25 years, but not without regulations. Some 82% feel that tech and AI regulations will positively impact operations in the Gulf.

REMEMBER- Global tech player Dell has identified Saudi as an upcoming prime location for AI ventures due to its “abundant and inexpensive” energy sources, priming it as a hub to host power-intensive AI training data centers. IBM is also bullish on Saudi’s AI landscape, with some USD 250 mn in planned investments to launch the first MENA software lab in Saudi, it said during Leap 2024 in March.

Cybersecurity is at the top of the list of challenges facing GCC economies, with 25% of respondents placing it as the most difficult challenge facing growth plans in the region, and 23% of respondents feeling that their entities are not equipped to meet these challenges.

REMEMBER- Only 1% of Saudi firms have reached the “mature stage” of overall cybersecurity readiness in 2024, according to a Cisco report out last May.

Although geopolitical instability is ranked 7th overall in terms of challenges, it is the second most pressing concern among respondents when it comes to their firms’ preparedness to face these challenges, with 26% expressing “reservations” that their business could weather geopolitical storms. Inflation was the top issue in terms of challenges with preparedness.

Zooming into the Kingdom: Saudi respondents were split down the middle between those that feel their entities were somewhat prepared for geopolitical tensions, and those that were not prepared, at 36% each. Only 29% thought their entities were “very well prepared.”

Talent acquisition is another area for concern, particularly in the Kingdom, with only 14% of Saudi respondents believing that their entities are equipped to attract top talents domestically. Meanwhile, 57% feel somewhat prepared for talent acquisition and the remaining 29% expressing unpreparedness in this area.

Ataa Educational reports FY 2023-24 results

Ataa Educational reported SAR 63.4 mn in bottom line in FY 2023-24, dipping 6.5% y-o-y, it said in a disclosure to Tadawul. The company attributed the fall to its loan financing costs rising 19% y-o-y as it took on more debt to purchase minority rights in three school complexes during the year, in addition to “losses in the training and employment sectors.” Ataa’s education division saw its bottom line rise 8% y-o-y, according to the disclosure.

The school operator’s revenues rose 0.1% to SAR 666.5 mn during the fiscal year, which ended on 31 July, buoyed primarily by higher tuition fees at some of its schools.

ICYMI- Ataa-operated Buckswood British School to open its doors to students this academic year: Sussex-based Buckswood British School has opened a Riyadh branch (Buckswood Riyadh) that is opening starting this academic year.The K-12 school is located in Al Izdihar district and will offer the IGCSE and IB Diploma programs, catering to students from kindergarten through high school, and is open for both boys and girls.

Background: Ataa and Buckswood Global Education launched a SAR 100k company to manage the Buckswood School in the Saudi capital under a partnership agreement they signed in August. Ataa owns an 80% stake in the company, while Buckswood holds the balance.

Fresh appointments at US-Saudi Business council + Saudi Fisheries + Gensler

#1- The US-Saudi Business Council has tapped Charles Hallab (LinkedIn) as its new president and CEO, according to a post on Linkedin. Hallab most recently founded business consultancy Barrington Global, and had prior stints as partner with Mayer Brown, and Baker and Mackenzie.

#2- Saudi Fisheries has appointed Abdulaziz Al Hamid as its chairman, effective immediately, it said in a disclosure to Tadawul. Al Hamid recently purchased Saudi Agricultural and Livestock Investment Company’s 40% stake in Saudi Fisheries in a SAR 122.4 mn transaction. Meanwhile, the board reshuffle also saw Mansour Al Sagheer appointed as vice chairman.

#3- Design and architecture firm Gensler appointed Tariq Shaikh (LinkedIn) as the co-managing director for its Middle East offices, based in Riyadh, according to a statement. Sheikh will work alongside current Managing Director Tim Martin (LinkedIn).

SRMG’s Finjan podcast breaks Guinness World Record + Al Ashghal Al Moysra earns performance certification

#1- Podcast Finjan, produced by SRMG-owned Thmanyah, broke the Guinness World Record for the most watched podcast episode in history, after garnering 110 mn views for its episode titled Secrets to Thriving Relationships on YouTube, according to a post on LinkedIn. The episode’s views have since surpassed that record, standing now at c.113 mn. You can check out the episode here.

Our friends at Saudi Research & Media Group (SRMG) acquired a 51% stake in the Arabic podcast platform Thmanyah in 2021.

#2- Al Ashghal Al Moysra received a first-class city service provider classification certificate from the Municipalities and Housing Ministry, according to a disclosure to Tadawul. The title enables the company to scale its projects in the Kingdom without restrictions to the size of the investment.

** Our Thursday Kudos section recognizes companies that are doing well — or doing well by others. Have something you want us to consider? Email ksa@enterprise.news.

Al Rajhi Bank acquires majority stake in fintech startup Drahim

M&A WATCH-

Al Rajhi Bank has acquired a 65% stake in homegrown fintech startup Drahim for an undisclosed sum, according to a statement from the lender. The investment will be used to improve existing products used by retail and institutional customers. The acquisition follows a Y-Combinator-led seed funding round, and a pre-seed round led by Sabil Investments. The transaction is aligned with the lender’s ambition to “be a preferred partner for emerging companies in the fast-growing fintech sector,”said Waleed Al Mogbel, managing director and CEO of Al Rajhi Bank.

Meet Drahim: Established in 2021, Drahim is a personal budget app that connects to users’ bank accounts. The app analyzes daily transactions, including sales, transfers, and receivables, and generates a detailed report on spending habits, upcoming bills, and frequently used transactions. Based on this analysis, Drahim’s AI engine offers a customized, low-risk auto-investing plan in stocks.

CAPITAL MARKETS-

Alistithmar Capital’s Areic REIT Diversified Investment Fund made its debut on Tadawul’s main market yesterday, according to a Tadawul announcement. The fund’s shares will be allowed to trade within a ±30% range for the first three days before being capped at no more than 10% up or down when circuit breakers kick in. All shares on Tadawul are subject to the 10% up-or-down rule.

The fund is a closed-end real estate fund focused on investing in income-generating properties both within and outside the Kingdom, according to its IPO prospectus (pdf). Its target size is SAR 1.2 bn, with an expected raise of approximately SAR 185 mn from the offering at SAR 10 per unit.

BANKING-

Digitizing KYC processes for banking transactions: The Interior Ministry has rolled out a fresh digital identity services system that links financial institutions with the ministry’s e-services platform Absher, in a bid to enhance transaction security, safeguard customers’ personal data, and prevent fraud, the ministry said in a statement. The new system allows individuals to easily verify their identities online in order to complete their financial transactions with ease.

FINTECH-

#1- Lendo + Kafalah: Peer-to-peer digital lending marketplace Lendo inked an agreement with the Small and Medium Enterprises Loan Guarantee Program (Kafalah) to boost MSME crowdfunding, it said in a post on X. The agreement will see the two entities provide SAR 250 mn worth of guarantees on crowdfunding platforms. Kafalah, a program managed by the Saudi Industrial Development Fund and local lenders, provides guarantees to financiers, assisting MSMEs and entrepreneurs in securing the necessary financing to develop their activities.

#2- India-based low-code digitalization provider Newgen Software Technologies has launched its end-to-end trade finance platform in the Middle East, according to a company statement. The company — which opened an office in Riyadh last year — claims that its AI-powered system can be used by financial institutions to digitize their legacy systems, and streamline trade finance.

REAL ESTATE-

Rent now, pay later: Proptech player Rize has secured Shariah certification from the Shariyah Review Bureau for its new financial model, which allows tenants to pay annual rent in monthly installments while providing landlords with upfront payment, according to a statement. The company claims that this model enhances housing affordability and accessibility, and aligns with Islamic finance principles. No further information was provided.

VENTURE CAPITAL-

Saudi Awwal Bank’s investment arm, SAB Invest, launched its inaugural private venture capital fund X-tech in a bid to support early- and growth-stage tech startups, according to a statement. The fund will offer financial backing, advisory services, and access to SAB Invest’s network.

HEALTHCARE-

Almoosa Health Group launched the Rafa Mental Health Centre at Almoosa Rehabilitation Hospital in the Eastern Province, according to a press release. The center looks to “address the rising demand for mental health services” and help improve the quality of life for patients in need of these services.

FINANCIAL SERVICES-

Authorized Policy Ins. Brokers and Ace Gallagher Ins. Brokers obtained licenses to operate as electronic ins. brokers, according to a post on X.

Gold picked up yesterday after US job opening data disappointed

Gold prices bounced back yesterday, lifted by a weaker USD and expectations that weak US job-opening data could signal the economy is cooling — and that the Fed might consider going to a rate cut of more than a quarter point this month, Reuters reports. The report showed job openings in July were at their lowest level in 3.5 years.

REMEMBER- All eyes are on tomorrow’s US jobs report for insights into the US economy and the Fed’s next moves after Fed boss Jay Powell’s emphasized the risks of a weaker labor market. A soft August labor figure could stoke fears of a sharper economic slowdown and tip the scales towards a 50 bps rate cut.

Gold could see a short-term dip on the back of the elevated positioning, Suki Cooper, an analyst at Standard Chartered told Bloomberg, noting that gold prices are higher than in any previous rate-cutting cycle. However, Cooper sees gold prices reaching USD 2.7k per ounce by 2025.

THE MARKETS THIS MORNING-

Asian markets are thoroughly mixed in early trading this morning, with the Nikkei and Hang Seng down slightly, the Kospi leading the gainers (+1.1%), the ASX 200 up nearly 0.4%, and Shanghai flat.

Futures point to European equities dipping at the opening bell, while Wall Street and Bay Street are on course to open mostly flat.

TASI	12,128	-0.4% (YTD: +1.3%)
MSCI Tadawul 30	1,512	-0.4% (YTD: -2.5%)
NomuC	25,946	-0.4% (YTD: +5.8%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	6.5% repo	5.5% reverse repo
EGX30	30,998	-0.1% (YTD: +24.5%)
ADX	9,367	-0.1% (YTD: -2.2%)
DFM	4,365	-0.1% (YTD: +7.5%)
S&P 500	5,520	-0.2% (YTD: +15.7%)
FTSE 100	8,270	-0.4% (YTD: +6.9%)
Euro Stoxx 50	4,848	-1.3% (YTD: +7.2%)
Brent crude	USD 72.71	-1.4%
Natural gas (Nymex)	USD 2.1	-2.6%
Gold	USD 2,526	+0.1%
BTC	USD 57,669.71	-0.6% (YTD: +30.5%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.4% yesterday on turnover of SAR 7.5 bn. The index is up 1.3% YTD.

In the green: Sfico (+9.9%), Al Baha (+7.7%) and SSP (+5.9%).

In the red: Alistithmar Reit (-5.0%), Al Ahli Reit 1 (-3.3%) and Knowledge Economic City (-3.3%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.4% yesterday on turnover of SAR 32.8 mn. The index is up 5.8% YTD.

In the green: Al Ashghal Al Moysra (+8.2%), Leaf Global (+7.7%) and Al Naqool (+6.2%).

In the red: NGDC (-10.5%), Al Rashid Industrial (-6.1%) and Naba Al Saha (-5.0%)

CORPORATE ACTIONS-

#1- Riyadh Cables Group will distribute SAR 224.6 mn in dividends at SAR 1.5 per share for 1H 2024, it said in a disclosure to Tadawul.

#2- ASG Plastic Factory Co. will distribute SAR 3.9 mn in dividends at SAR 0.55 per share for 1H 2024, it said in a disclosure to Tadawul.

#3- Al Baha Investment and Development’s board withdrew its recommendation to list subsidiary Elegant Centers on Tadawul’s parallel market Nomu, according to a filing to the exchange. No further information was provided.

#4- The board of Al Baha Investment and Development has recommended a 26.5% capital reduction to SAR 218.3 mn to offset accumulated losses, it said in a disclosure to Tadawul.

CALENDAR

AUGUST

10 August-10 September (Saturday-Tuesday): Crown Prince Camel Festival, Taif Camel Racing Track.

30 August-7 September (Friday-Saturday): Saudi Arabia Snooker Masters, Riyadh.

SEPTEMBER

3-5 September (Tuesday-Thursday): 24 Fintech, Front Exhibition & Conference Center, Riyadh.

9-11 September (Monday-Wednesday): International Manufacturing Congress, Riyadh.

9-12 September (Monday-Thursday): EFG Hermes London Conference, Emirates Stadium, London.

10 September (Tuesday): Saudi Arabia Investors Forum, Riyadh.

10-11 September (Tuesday-Wednesday): SkyMove MENA, Riyadh.

10-11 September (Tuesday-Wednesday): Middle East LPG Expo – Saudi Arabia 2024, Intercontinental Hotel, Riyadh.

10-12 September (Tuesday-Thursday): Saudi Sports Show, Riyadh.

10-12 September (Tuesday-Thursday): Global AI Summit, Riyadh.

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

15-19 September (Sunday-Thursday): SRMG Academy Technology Journalism Workshop, Riyadh.

15-19 September (Sunday-Thursday): Muntada FAA, Riyadh.

16-19 September (Monday-Thursday): Foodex Saudi, Riyadh.

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

17-19 September (Tuesday-Thursday): Hotel & Hospitality Expo, Front Exhibition & Conference Center, Riyadh.

18-19 September (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam.

18-19 September (Wednesday-Thursday): IDC Saudi Arabia CIO Summit 2024, Riyadh.

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

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

24-26 September (Tuesday-Thursday): Smart Cities Saudi Expo 2024, Riyadh Front Exhibition & Conference Center.

25-26 September (Wednesday-Thursday): Kingdom Business and Luxury Travel Congress, Crowne Plaza Riyadh RDC Hotel and Convention.

26 September-5 October (Thursday-Saturday): AlUla Skies Festival, AlUla.

27 September (Friday): CAF Super Cup Final 2024, Riyadh.

29 September-1 October (Sunday-Tuesday): Jeddah Construct Expo, Jeddah.

29 September (Sunday): Start of Digital Chip Design Technologies training program.

OCTOBER

1-3 October (Tuesday-Thursday): Intersec Saudi Arabia 2024, Riyadh.

5-7 October (Saturday-Monday): Middle East Education & Training Exhibition 2024, Jeddah.

12 October (Saturday): Riyadh Season.

12 October (Saturday): Shakur Stevenson x Joe Cordina, Riyadh.

12-14 October (Saturday-Monday): Global Logistics Forum, Riyadh.

15-16 October (Tuesday-Wednesday): Solar & Storage Live KSA, Riyadh.

16-17 October (Monday-Tuesday): Global Airport & Aviation Forum, Jeddah.

19 October (Saturday): Battle of the Giants, Mayadeen Hall, Riyadh.

21-22 October (Monday-Tuesday): Smart Ports & Logistics Transformation Summit, Riyadh.

21-22 October (Monday-Tuesday): Aussie Expo, King Abdullah Financial District Conference Center, Riyadh.

21-23 October (Monday-Wednesday): Global Health Exhibition 2024, Riyadh.

23-24 October (Wednesday-Thursday): UNIDO’s Multilateral Industrial Policy Forum (MIPF), Riyadh.

26 October (Saturday): Donor Conference to Support Refugees in Sahel and Lake Chad Regions, TBD.

29-31 October (Tuesday-Thursday): Future Investment Initiative Conference, Riyadh.

30 October-3 November (Wednesday-Sunday): Hia Hub 4.0, Riyadh.

31 October (Thursday): No-visa travel for Saudis to Montenegro on charter flights expires.

NOVEMBER

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

4-7 November (Monday-Thursday): Saudi Build, Riyadh.

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

11-12 November (Monday-Tuesday): World Advanced Manufacturing Logistics Summit & Expo, Riyadh.

11-12 November (Monday-Tuesday): Saudi Airport Exhibition, Riyadh.

11-12 November (Monday-Tuesday): Expenditure Efficiency Forum, The Hilton, Riyadh.

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

18-20 November (Monday-Wednesday): The Heavy Equipment and Truck Show, Dammam.

19-20 November (Tuesday-Wednesday): The Women’s Economic Forum 2024, Dammam.

19-21 November (Tuesday-Thursday): Saudi International Maritime Forum, Dammam.

23 November (Saturday): Red Sea 600, Jeddah Yacht Club and Marina.

25-27 November (Monday-Wednesday): World Investment Conference, Riyadh.

26-28 November (Tuesday-Thursday): Future Power Expo, Riyadh.

29 November-2 December 2024 (Sunday-Wednesday): World Sailing Youth Match Racing World Championship, Jeddah Yacht Club and Marina.

DECEMBER

1 December (Sunday): Opec+ to meet.

2-3 December (Monday-Tuesday) Wings of Change Middle East, Riyadh.

3-5 December (Tuesday-Thursday): The International Business Exchange – IBEX EVENTS, Riyadh.

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

5-8 December (Thursday-Sunday): World Sailing Women’s Match Racing World Championship, Jeddah Yacht Club and Marina.

11 December (Wednesday): FIFA Congress, which will decide the hosting countries for the FIFA World Cup 2030 and 2034

15-19 December (Sunday-Thursday): Internet Governance Forum, King Abdulaziz International Conference Center, Riyadh.

23-26 December (Monday-Thursday): Aqarat Expo, Riyadh.

Signposted to happen sometime in 2024:

The AFC Champions League Elite

2025

JANUARY 2025

14-16 January (Tuesday-Thursday): Future Minerals Forum, King Abdulaziz International Conference Center, Riyadh.

27-29 January (Monday-Wednesday): Real Estate Future Forum, Four Seasons Hotel, Riyadh.

28-29 January (Tuesday-Wednesday): Sustainability Forum Middle East, Riyadh.

FEBRUARY 2025

6-8 February (Thursday-Saturday): Liv Golf season opener, Riyadh Golf Club, Riyadh.

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

14-15 February (Friday-Saturday): Formula E, Diriyah.

JUNE 2025

26 June (Thursday): 2024-2025 academic year ends.

2026

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.

2027

The World Water Forum takes place in Riyadh.

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