PIF, partners to launch a USD 5 bn basketball tournament

1

WHAT WE’RE TRACKING TODAY

THIS MORNING: Hajj registration open for Saudi citizens, residents + Al Baik inches closer to Pakistan

Good morning, ladies and gents. We kick off the week with big news for the Kingdom in sports, as well as the latest on debt and energy markets, and a lot more.

In today’s issue: The PIF is reportedly in partnership for a USD 5 bn basketball megatournament that will compete with the NBA, and is engaged in talks with Italy’s Sace for EUR 3 bn in loan guarantees. Meanwhile, Ma’aden kicked off its USD-denominated sukuk, and Acwa Power signed a flurry of agreements at ID25. Let’s dive in.

HAPPENING TODAY-

LEAP 2025 kicks off today at the Riyadh International Convention and Exhibition Center in Malham and wraps on Wednesday, 12 February. The tech event will bring together over 1.8k global tech brands, 1k experts, and upwards of 680 startups. It will feature over 300 hours of content across 17 tracks, covering AI, fintech, edtech, smart cities, and more. Last year’s event saw more than 215k visitors. You can sign up here.

Co-located with LEAP is DeepFest, a major AI-focused event that brings together AI researchers, innovators, entrepreneurs, and academics under one roof.

WEATHER- Riyadh is looking at a high of 19°C and a low of 9°C today, while Jeddah’s mercury is set to peak at 28°C and hit a low of 18°C. Meanwhile, Makkah will see a 30°C high and a 16°C low.

HAPPENING THIS WEEK-

The two-day PIF Private Sector Forum begins on Wednesday, 12 February at King Abdul Aziz International Conference Center in Riyadh. The event looks to bridge connections between the wealth fund, its portfolio companies and private sector players while promoting localization and enhancing supply chains in vital sectors.

PSAs-

#1- Happy founding day: This year’s founding day falls on Saturday, 22 February, which will be an official vacation for both the public and private sectors, the Human Resources and Social Development Ministry said in a post on X.

#2- The Hajj and Umrah Ministry kicked off registration for the 1446 Hajj season for Saudi citizens and residents, it said in a post on X. Registration can be completed via the Nusuk platform.

#3- Investors can now apply for seven agricultural investment prospects in Al Baha the Ministry of Environment, Water and Agriculture put up on the Furas online platform, it said in a post on X. This includes four agricultural cities for coffee production in Al Janabain, a city for prickly pear cultivation in Al Baha, a fruit nursery in Qalwah, and a land for fruit and citrus trees cultivation in Al Makhwah

WATCH THIS SPACE-

#1- Netanyahu wants a Palestinian state on Saudi lands: Israel’s Prime Minister Benjamin Netanyahu said that “the Saudis can create a Palestinian state in Saudi Arabia; they have a lot of land over there,” the Jerusalem Post reports, citing a televised interview with Israel’s Channel 14. Netanyahu also added he “would not make an agreement that would endanger the State of Israel,” responding to a question about Saudi’s pre-conditions regarding Palestinian statehood.

IN CONTEXT- Netanyahu’s latest comments follow US President Donald Trump proposed a US takeover of the Gaza Strip to turn it into “the Riviera of the Middle East,” calling for the forced displacement of all 2.2 mn Palestinians residing in the territory. The Kingdom issued a statement in response, rejecting settlement, annexation or displacement of Palestinians as “non-negotiable” with new or old US administrations.

#2- Al Baik inches closer to Pakistan: Al Baik is in the “final stages” of establishing its presence in the Asian country, following trade discussions between Pakistan’s Commerce Minister Jam Kamal Khan in Jeddah, according to the country’s Press Information Department. Khan discussed with business leaders prospects for Saudi products broaching the Pakistani market during the meeting, highlighting potential collaborations in energy, health, IT, agriculture, infrastructure, and consumer goods.

REMEMBER- The homegrown fast food chain signed an MoU with energy firm Gas & Oil Pakistan Limited (Go) in October to launch Al Baik restaurants in Pakistan, after some USD 2 bn agreements were signed between Pakistani and Saudi businesses.

#3-Fitness chain BodyMasters and car-rental firm Yelo are the latest in a string of companies gearing up for an IPO on Tadawul’s main market, Bloomberg reports, citing sources it says are familiar with the matter.

ICYMI- Tadawul saw 15 new IPOs last year — the highest number since 2022 — as both state-owned assets and private firms hit the market. The Kingdom was also home to the best-performing IPOs in the GCC in terms of post-listing stock price appreciation.

DATA POINTS-

Foreign remittances from the Kingdom were up 14% y-o-y at SAR 144 bn in 2024, their highest since 2022, Asharq Al Awsat reports, citing central bank data. The growth comes on the back of increased demand for foreign workers and wage increases. Non-Saudis employed in the private sector increased 3.5% y-o-y during the period to 8.9 mn as new diversification projects reeled in workers, economic analyst Rawan bin Rubayan told the outlet.

Also contributing to the trend: Economic growth in workers’ countries of origin, steady exchange rates, and improved financial services and transfer mechanisms also added momentum to the pick up in remittance payments, Senior Asset Management Executive at Arbah Capital Mohammed Al Farraj added.

SPORTS-

#1- Canelo Alvarez sealed a four-fight arrangement with Riyadh Season, the General Entertainment Authority’s Chairman Turki Alalshikh announced in a post on X. The first fight in the new lineup is set to take place in Riyadh in May, while the second event is likely to see a showdown with welterweight champion Terrence Crawford in Las Vegas, the Associated Press reports. No additional financial information was available on the agreement.

The step comes as a snub to rival boxer Jake Paul, who was close to a settlement with Alvarez for a fight in May, Reuters reports. Alvarez and Paul were set to face off on 3 May in Las Vegas, sources told ESPN reports.

#2- Al Ahli axes Roberto Firmino to make space for Galeno: The Jeddah-based club removed ex-Liverpooler Roberto Firmino from its roster for the current SPL season in order to make room for compatriot Galeno, who joined the club late last month following a GBP 42 mn signing, the Daily Mail reports. SPL clubs are allowed a maximum of 10 foreign players on their squad.

#3-Jeddah’s King Abdullah Sports City’s stadium is now Alinma Stadium, after Alinma Bank secured naming rights until 2029, the Sports Ministry announced in a post on X.

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THE BIG STORY ABROAD-

It’s a relatively calm morning in the international press, with headlines focusing on Trump’s unexpected moves, the latest on Gaza’s ceasefire, and Lebanon’s new government.

Trump’s latest targets: The US president’s latest executive order cuts all financial aid to South Africa, citing domestic land policy allegedly targeting white South Africans, as well as Cape Town’s genocide accusations against Israel at the International Court of Justice. This comes after an earlier order Trump signed on Thursday imposed sanctions on the International Criminal Court for targeting the US and its allies. (NBC News | Reuters)

IN GAZA- Hamas released three Israelis on Saturday, while Israel released 183 Palestinians, the fifth exchange in the first phase of an increasingly fraught ceasefire agreement. Israeli forces are due to withdraw from the key Netzarim corridor today, allowing freedom of movement between the strip’s north and south. (Reuters | New York Times | The Guardian)

MEANWHILE- A new government in Beirut with a tough mandate: Lebanon appointed Amer Bisat, BlackRock’s head of emerging-markets fixed income, as its economy minister. Bisat — along with new finance minister and lawmaker Yassine Jaber — will be tasked with laying down a recovery plan for Lebanon’s deeply-troubled economy, hoping to unlock much needed funding from the IMF. (Bloomberg | ABC News)

PIF and partners to launch a USD 5 bn basketball tournament

An NBA rival in the works? PIF’s events arm Sela partnered with Singapore’s government and Hong Kong-listed, Macau-based casino operator Galaxy Entertainment on a new USD 5 bn international basketball circuit that is intended to rival the NBA, the Financial Times reports. Swiss bank UBS was tapped to advise on the plan, while no name for the upstart league or prospective launch date have been unveiled yet. Reuters also had the story.

The pitch: The megatournament looks to offer top basketball players an alternative to the US NBA tournament, while also bringing the sport closer to its vast Asian audience and Europe’s extensive talent pool, writes the salmon-colored paper. The project is set to involve six men’s and six women’s teams, which will compete in six host cities, with Macau and Singapore under consideration as potential hosts. Organizers are also looking to sign up several European cities as hosts.

The project will be spearheaded by Maverick Carter, a known business associate of NBA superstar Lebron James, along with Skype co-founder Geoff Prentice, and former Facebook executive Grady Burnett. Tech investor Byron Deeter, SC Holdings, and Quiet Capital are all part of an ongoing capital raise, people familiar with the matter told FT. Meanwhile, Singapore’s ministry of culture, community and sport is looking into the terms and “will assess the issue of investment at the appropriate time,” the FT said.

Butting heads with the NBA? The NBA closed a USD 76 bn 11-year broadcasting agreement with major media players last year, giving it enough capital to fend off new rivals. Teams in the new start-up league will have to compete with the NBA for talent, but luring just a few top players into the new tournament can potentially lead to a major shakeup in the status quo, the FT explained. The US league has also been pursuing its own strategy to rally international audiences, hosting more and more games abroad.

IN OTHER SPORTS NEWS-

PGA Tour Commissioner Jay Monahan and player Adam Scott asked Trump to mediate talks for the potentialPGA Tour-LIV Golf merger, the PGA Tour said in a statement last week. “We asked the President to get involved for the good of the game, the good of the country, and for all the countries involved,” the statement read.

The announcement followed a meeting at the Oval Office last Tuesday, where Trump sat with Monahan, Scott and phoned-in PIF Governor Yasir Al Rumayyan, unnamed sources familiar with the matter told the New York Times. Celebrated golfer Tiger Woods was also scheduled to attend, but had to skip the meeting due to his mother’s death, an unnamed source added.

This is not the first time Trump weighs in: The US president engaged in discussions with key figures from the PGA and PIF-backed LIV last November, playing golf with PGA Tour Commissioner Jay Monahan in Florida and meeting Al Rumayyan the following day while attending a UFC fight in New York.

Ma’aden kicks off USD-denominated sukuk + Al Rajhi Bank participates in USD 400 mn facility for AFC

It has been a busy weekend for Saudi in debt markets, with Ma’aden debuting its international trust certificate issuance program, and Al Rajhi Bank participating in a USD 400 mn facility for the AFC, Meanwhile, the PIF is reportedly gunning for EUR 3 bn in loan guarantees from Italy’s Sace.

#1- Saudi Arabian Mining (Ma’aden) kicked off its USD-denominated trust certificates offering on Thursday under its international trust certificate issuance program, it said in a disclosure to Tadawul. The offering wrapped up on Friday.

The details: The issuance — executed through a special-purpose vehicle — included two tranches of five and 10 years that were offered to eligible local and international investors with a par value of USD 200k.

REMEMBER- Ma’aden announced its intention to offer the sukuk last week, with the proceeds earmarked for covering general business activities.

ADVISORS- Citigroup Global Markets, HSBC Bank, Al Rajhi Capital, BNP PARIBAS, GIB Capital, JP Morgan Securities, Natixis, Saudi Fransi Capital, SNB Capital, and Standard Chartered were tapped to be joint lead managers.

#2- Al Rajhi Bank joined a consortium of 11 Islamic financial institutions for a USD 400 mn commodity murabaha facility secured by Africa Finance Corporation (AFC), according to a statement. The facility was initially launched at USD 300 mn, but was upsized following a 47% oversubscription rate, the statement said.

Who else is in? The consortium also includes UAE’s Abu Dhabi Islamic Bank, Ajman Bank, Emirates Islamic Bank, Sharjah Islamic Bank, and Warba Bank.

About AFC: Established in 2007, AFC is an infrastructure investment institution with an investment portfolio of USD 15 bn across 36 countries. It focuses on financing infrastructure projects in power, transport, natural resources, telecommunications, and heavy industry.

ALSO ON OUR DEBT WATCH-

The Public Investment Fund (PIF) is in talks with Italy’s state export credit agency Sace for EUR 3 bn in loan guarantees, Bloomberg reports, citing sources it says are in the know. The guarantees will be used to back a group of international banks that finance the PIF.

REMEMBER- Italian Prime Minister Giorgia Meloni has recently visited the Kingdom where she and Crown Prince Mohammed bin Salman agreed on USD 10 bn worth of agreements, including a USD 3 bn multi-currency facility agreement from Sace to Neom backed by nine international banks.

Acwa Power signs seven agreements with Aramco, Bluewater Bio, Dow, and others at ID25

Acwa Power inked seven partnership agreements for green hydrogen and desalination projects with local and foreign outfits during its Innovation Days event (ID25) in Riyadh, a record number for the annual gathering, it said in a press release. No investment tickets or timelines were disclosed for the agreements.

Two agreements were signed with Saudi Aramco — one to implement an Advanced Photovoltaic (PV) Energy Forecasting project using big data and machine learning, and another to test and assess the reliability of vanadium flow battery (FVFB) technology in the local climate for long-duration energy storage, and the integration of renewable energy for applications that include water desalination.

More agreements were lined up: Acwa Power will test advanced water filtration with the UK’s Bluewater Bio, as well as anti-scaling chemicals from US-based Dow. The renewables giant also signed a pilot agreement with Australia’s Hysata to scale green hydrogen production with help from the company’s high-efficiency electrolyzers.

A push in research and development: Acwa Power also extended its Master Research Agreement on solar power and water desalination with King Abdullah University of Science and Technology, while inking an R&D framework with Germany’s Fraunhofer IMWS, Fraunhofer ISC, and Fraunhofer IWES on renewable energy and green hydrogen.

ICYMI- Acwa is doubling down on green hydrogen: Acwa Power plans to expand its portfolio in renewables, green hydrogen, and water desalination to some USD 250 bn by 2030, and is currently implementing projects worth USD 97 bn, 60% of which are Saudi-based, its Geo Head of Saudi Hesham Tashkandi said last week. The firm also inked an MoU with Germany’s SEFE to establish the Saudi-German Green Hydrogen Bridge that looks to export 200k tons per year of Saudi-made green hydrogen to Europe by 2030. Another MoU was signed last month with Italy’s Snam, looking to explore a green hydrogen supply chain from the Kingdom to Europe.

Middle East saw M&A value up 53% in 2024 -Bain & Company

M&A transactions’ value in the Middle East rose 52% y-o-y in 2024 to USD 29 bn, driven by an uptick in activity from sovereign wealth funds and state-backed firms, according to Bain’s global M&A report (pdf). The report focuses on strategic M&A transactions over USD 1 bn in value, including those by corporate buyers and private equity add-on acquisitions - while excluding financial sponsors, SPACs, and venture capital transactions.

Saudi Arabia and the UAE topped the M&A league table, with their energy transactions accounting for nearly 80% of the region’s total transaction value, according to a press release. The largest M&A transaction of the year was Aramco's USD 8.9 bn acquisition of Petro Rabigh. Meanwhile, outbound investments rose 9% to USD 33 bn as regional players looked beyond domestic markets.

All eyes on JVs: Local companies are also increasingly focused on joint ventures, especially in sectors like renewables. The Saudi PIF launched three JVs in solar and wind projects last year, the report said.

Looking more towards Europe: Middle Eastern investors significantly increased their investments in Europe last year, with strategic transaction value for European targets rising 120% y-o-y in 2024, while investments in the Asia-Pacific region saw a sharp decline of 78%.

What they said: “With continued support from government entities and strong cross-regional investments, particularly in Europe, the Middle East is well-positioned to continue driving high-value strategic acquisitions, especially in energy transition and technology sectors,” said Gregory Garnier, Partner at Bain & Company and head of the Private Equity and Sovereign Wealth Fund practice in the Middle East.

We have more on the state of play for M&A globally last year and looking ahead into 2025 in this morning’s Planet Finance, below.

Trump’s shocking Gaza proposal complicates Saudi-Israel normalization talks

The Kingdom is under the spotlight in international press this morning, discussing what Trump’s Gaza bombshell means for Saudi-Israel talks.

A complicated path forward:The Washington Post argues that Trump’s talk of a US takeover of Gaza has likely complicated the push for a normalization agreement between Saudi and Israel. While it is too early to assess if the blunt proposal will lead to lasting damage to Trump’s ties with the Kingdom, Saudi’s public “instant critique” in response to Trump’s proposal reflects a firmer stance than usual, insisting on establishment of a Palestinian state rather than a “pathway” to Palestinian statehood, Ali Shihabi, a Saudi businessman, told WaPo.

Trump really stirred the pot this time: The New York Times also pointed out that Washington’s efforts to relieve tensions by framing the displacement as a temporary fix has also seemingly failed to rectify the situation. Saudi royal and ex-senior government official Turki Al Faisal, in an interview with CNN, likened Trump’s proposal to “ethnic cleansing,” promising that the US president “will get an earful from the leadership here.”

A lot to bargain with: An opinion piece in the Financial Times also argues the Kingdom also has lots of pull in the current play of events and holds “key bargaining cards.” Trump is calling on Saudi Arabia for up to USD 1 tn in investments, and also needs Saudi cooperation to lower oil prices. The blows Iran suffered in the region also opened the door for the Kingdom to fill the void in Syria and Lebanon, expanding its regional influence over the past months.

STC increases voting rights in Spain’s telefonica

M&A WATCH-

#1- State-owned Saudi Telecom Company (STC) increased its voting rights in Spain’s Telefonica to 9.97%, up from 4.97%, it said in a disclosure to Tadawul. The PIF-backed company filed to get a seat on the board of the Spanish telecom giant late last month, after raising its stake in the company. This comes as STC and the Spanish government, which owns a 10% stake, look to overhaul the company under a new long-term strategy.

#2- Osool & Bakheet eyes majority stake in Advanced Operating Technology: Nomu-listed investment firm Osool & Bakheet secured board approval to acquire a 51% stake in IT service provider Advanced Operating Technology (AOT) for SAR 5.1 mn in what appears to be a direct share sale, according to a filing to Tadawul.

The caveat: Osool & Bakheet has agreed to special terms, stating that they will waive their right to buy additional shares if AOT becomes a publicly traded company in the future and allow the sellers to subscribe to shares worth a combined SAR 5.3 mn.

#3- Saudi fintech firm Simplified Financials Solutions (SiFi) acquired Dubai-based B2B cost management outfit Neya Technologies for an undisclosed sum, aiming to enhance Neya’s financial technology tools, while expanding its reach across the Kingdom, according to a Linkedin post. ANB Seed Fund, Rua Ventures, Byld, and KBW Ventures also invested in the round, while Khwarizmi Ventures, Tech Invest Com. and Seedra Ventures were follow-on investors.

REAL ESTATE-

La Perle Real Estate Fund acquired La Perle East project from First Avenue for RealEstate Development in a SAR 160 mn transaction, including First Avenue recovering a SAR 90 mn down payment for the project, according to a disclosure to Tadawul. First Avenue’s stake in the fund has increased to 44% following the transfer. The La Perle East project, located in Jeddah’s Al-Shatea district, features office buildings, retail shops, and dining spaces.

REMEMBER- First Avenue entered into a non-binding agreement last month with AWJ Real Estate Development to set up the La Perle Real Estate Fund, where it targets a 40%-50% stake. The fund aims to acquire and develop commercial, office, and hospitality projects — with a focus on La Perle West, La Perle East, La Perle Residential Land, and La Perle Hotel Land.

HOSPITALITY-

Radisson Hotel Group partnered with Knowledge Economic City to establish two new Park Inn properties in Madinah, according to a post on LinkedIn. The hotels, which will be located in the Islamic World District, will feature 587 hotel rooms and 146 serviced apartments with nearby access to the city’s sacred sites.

TECH-

Al Moammar Information Systems (MIS) landed a SAR 227.8 mn contract from the Saudi Authority for Data and Artificial Intelligence (SDAIA) to expand the Naqaa Data Center in Riyadh, it said in a disclosure to Tadawul. The contract, set to be signed on 5 March, comes in a bid to address the rising demand for data hosting services.

M&A activity reached a modest USD 3.5 tn in 2024

Following three years of subdued M&A activity, this year could be the year the market finally gains momentum, Bain said in its latest global M&A report (pdf). The firm expects that the main barriers to M&A activity in recent years — high interest rates and regulatory challenges — will start to ease in the coming year, the report notes.

New tech + national regulations to drive activity: M&A activity is going to pick up because of tech disruption and changes in global economics, the report notes, adding that companies will be looking towards consolidation in order to keep up with new technologies like AI, automation, and renewable energy, with both tech and non-tech companies looking to stay ahead. Businesses are also using M&A to adjust to new national policies and trade dynamics.

2024 IN REVIEW-

Overall M&A activity reached a modest USD 3.5 tn in 2024, up only slightly from last year’s USD 3.2 tn. A slight drop in interest rates fueled private equity interest, leading to a 29% y-o-y increase in transaction value. Meanwhile, corporate M&A experienced steady growth, rising 12% from 2023, with transaction volume also up by 7%. Despite challenges like high interest rates, companies have continued pursuing mergers and acquisitions, the management consulting firm said, noting a shift toward creating value through revenue and cost synergies.

By the sector: Consumer products saw a 19% drop in transaction value in 2024, with 60% of executives planning to sell assets in the next three years. The energy sector reached a three-year high of USD 400 bn in transactions driven by oil and gas consolidation and faster synergy realization. Retail rebounded in M&A value and volume, and 75% of executives anticipate sustained momentum in 2025.

Top M&A markets: The US and Canada led with a market value of USD 1.2 tn, followed by Greater China at USD 291 bn, and Japan at USD 143 bn.

TASI	12,434	+0.2% (YTD: +3.3%)
MSCI Tadawul 30	1,546	+0.1% (YTD: +2.4%)
NomuC	31,386	+0.4% (YTD: -0.3%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	30,012	+0.9% (YTD: +0.9%)
ADX	9,586	+0.2% (YTD: +1.8%)
DFM	5,238	-0.1% (YTD: +1.6%)
S&P 500	6,026	-1.0% (YTD: +2.5%)
FTSE 100	8,701	-0.3% (YTD: +6.5%)
Euro Stoxx 50	5,325	-0.6% (YTD: +8.8%)
Brent crude	USD 74.66	+0.5%
Natural gas (Nymex)	USD 3.31	-2.9%
Gold	USD 2,887.60	+0.4%
BTC	USD 96,573	+0.6% (YTD: +3.3%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.2% last Thursday on turnover of SAR 6.9 bn. The index is up 3.3% YTD.

In the green: Amak (+7.5%), Thimar (+5.8%) and MCDC (+4.4%).

In the red: Mutakamela (-2.2%), Tanmiah (-2%) and SIIG (-1.7%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.4% last Thursday on turnover of SAR 45.7 mn. The index is down 0.3% YTD.

In the green: Leaf (+8.9%), Ghida Alsultan (+8.2%) and Aqaseem (+5.9%).

In the red: TMC (-8.5%), Alqemam (-6.9%) and Mulkia (-5.4%).

CALENDAR

EVENTS WITH NO SET DATE

1Q: BinDawood Holding expected to close 100% acquisition of Zahrat Al Rawdah Pharma.

FEBRUARY

9-12 February (Sunday-Wednesday): LEAP Tech Conference, Malham, Riyadh.

9-12 February (Sunday-Wednesday): DeepFest by Leap, Riyadh.

10-12 February (Monday-Wednesday): Saudi Travel Market, Riyadh International Exhibition Center.

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

12-13 February (Wednesday-Thursday): PIF Private Sector Forum, King Abdul Aziz International Conference Center, Riyadh.

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

15-18 February (Saturday-Tuesday): Week one of Big 5 Construct Saudi, Riyadh Front Exhibition & Conference Center.

16-17 February (Sunday-Monday): AlUla Conference for Emerging Market Economies, AlUla.

18 February (Tuesday): The Capital Markets Forum, KAFD Conference Centre, Riyadh.

18-20 February (Wednesday-Thursday): The Capital Markets Forum, KAFD conference centre, and the Four Seasons, Riyadh.

19 February (Wednesday): Derayah REIT dividend distribution.

19-21 February (Wednesday-Friday): Saudi Media Forum, Riyadh.

19-21 February (Wednesday-Friday): FII Priority Miami, Miami, USA.

21-22 February (Friday-Saturday): The Saudi Cup, Riyadh.

22 February (Saturday): Founding Day.

22 February (Saturday): Dazn Boxing event: Beterbiev vs Bivol II, Riyadh.

23-27 February (Sunday-Thursday): Riyadh International Disputes Week, Hilton Riyadh Hotel Granada.

24 February (Monday):Public Sector Excellence Forum, Movenpick Hotel & Residence Riyadh.

24-25 February (Monday-Tuesday): The Riyadh International Humanitarian Forum, Riyadh.

24-27 February (Monday-Thursday): Week two of Big 5 Construct Saudi, Riyadh Front Exhibition & Conference Center.

MARCH

1-30 March: Ramadan (TBC).

18-19 March (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

31 March- 3 April (Monday-Thursday): Eid Al Fitr.

31 March (Monday): Deadline for applying to theReal Estate General Authority’s Regulatory Sandbox Program.

31 March (Monday): Deadline for applying to the World Intellectual Property Organization (WIPO) Global Awards 2025

APRIL

7-9 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh.

3-20 April (Thursday-Sunday): AFC Asian U17 Cup.

13-14 April (Sunday-Monday): Human Capability Initiative (HCI) Conference, King Abdulaziz International Conference Center, Riyadh.

13-16 April (Sunday-Wednesday): EdgeX HCI, The Ritz Carlton, Riyadh.

14-16 April (Monday-Wednesday): Future Hospitality Summit, Mandarin Oriental Al Faisaliah, Riyadh.

18-20 April (Friday-Sunday): Saudi Arabian Grand Prix, Jeddah,

21-24 April (Monday-Thursday): Saudi Food Exhibition and Conference, Riyadh.

22-23 April (Tuesday-Wednesday): AAM Middle East, Riyadh.

23-25 April (Wednesday-Friday): Construction and Real Estate Development Exhibition, Jazan.

25 April- 4 May (Friday-Sunday): AFC Champions League Elite Finals

MAY

May: The World Intellectual Property Organization (WIPO) Global Awards 2025 announces its results.

6-7 May (Tuesday-Wednesday): Federal Open Market Committee meeting.

12-15 May (Monday-Thursday): Saudi Smart Manufacturing, Riyadh International Convention & Exhibition Center.

13-14 May (Tuesday-Wednesday): Global EV & Mobility Technology Forum, The Arena, Riyadh.

19-20 May (Monday-Tuesday): Tech-ecO-System Summit (ToSS), Riyadh.

23 May (Friday): Guns N’ Roses Show, Riyadh.

31 May-5 June (Saturday-Thursday): Hajj.

JUNE

6-9 June ( Friday-Monday): Eid Al Adha.

17-18 June (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

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

30 June (Monday): Deadline for Cancellation of Fines and Exemption of Financial Penalties Initiative by the Zakat, Tax and Customs Authority (Zatca).

JULY

July: The World Intellectual Property Organization (WIPO) Global Awards 2025 awards ceremony, Geneva.

31 July (Thursday): Deadline for companies with SAR 2.5 mn or more in 2022/2023 revenues to integrate e-invoicing solutions with Fatoora.

29-30 July (Tuesday-Wednesday): Federal Open Market Committee meeting.

AUGUST

5-17 August (Tuesday-Sunday): Fiba Asian Cup.

SEPTEMBER

15-17 September (Sunday-Tuesday): Money 20/20 Middle East, Riyadh.

17-18 September (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

23 September (Tuesday): Saudi National Day.

OCTOBER

28-29 October (Tuesday-Wednesday): Federal Open Market Committee meeting.

NOVEMBER

3-9 November (Monday- Sunday): WTA Tour Finals.

24-26 November (Monday-Wednesday) The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh Front Convention & Exhibition Centre, Riyadh.

27-30 November (Thursday-Sunday): The World Rally Championship (WRC), Jeddah.

DECEMBER

1-4 December (Monday-Thursday): International Conference on Nuclear Emergencies, Riyadh.

December: The Fortune Global Forum 2025, Riyadh.

9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

2026

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

8-12 February (Sunday-Thursday): World Defense Show, Riyadh.

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

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.

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