Acwa Power seals SAR 10.8 bn financing for Qurayyah expansion

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Reuters poll positive on Saudi growth this year

Good morning. It’s another calm day as we inch closer and closer to the busy last week of October, which will see Riyadh host the star-studded Future Investment Initiative, as well as the Global Health Exhibition.

Leading this morning’s news well: Renewables giant Acwa Power sealed in over SAR 10 bn in financing for the Qurayyah project expansion, and Banque Saudi Fransi is the latest to join the sukuk bonanza, kicking off a fresh AT1 sale yesterday. Let’s dive in.

HAPPENING TODAY-

Saudi Rail International wraps up today at the Riyadh Front Exhibition and Conference Center. The two-day event brought together local and global players to explore the latest trends in the railway and transport industry, featuring more than 250 exhibiting brands and 200 speakers from around the world.

WEATHER- Thunder alert: Heavy thunderstorms are on the move across Jazan, Asir, Al Baha, and Makkah today, bringing torrential rain, hail, and flash flood risks. Fog could blanket these regions and stretch toward parts of the east as night falls. Meanwhile, dusty winds will whip through Riyadh and the Eastern Region, keeping skies hazy.

Riyadh: 35°C high / 21°C low,
Jeddah: 35°C high / 27°C low
Makkah: 38°C high / 27°C low.

WATCH THIS SPACE-

Saudi Arabia’s economy is forecast to post 4.2% growth in 2025, boosted by an increase in oil output, falling behind the UAE’s projected 4.6% expansion, according to a Reuters poll of economists. This represents an upward revision by 0.4 percentage points from Reuters’ previous poll in July. For 2026, the economists see our economy growing 4.1%, unchanged from July.

The upgrade follows recent upward revisions: The World Bank revised growth up to 3.2%, while the IMF expects a 4% growth in 2025. Both fall behind FinMin’s latest projections, which expect our GDP to expand at a 4.6% clip in 2026, up from 4.4% this year, on the back of growth in non-oil activities.

Regionally, most GCC economies are projected to expand this year and the next, supported by higher oil production, according to Reuters. ”So far, revenues have held up... If OPEC+ is successful in recovering market share this will give them greater pricing power and control over global supply-demand dynamics, which will allow them to [maximize] revenues in the longer term,” Reuters quoted Goldman Sachs’ MENA economist Farouk Soussa as saying.

The second phase of Saudization for four healthcare professions in the private sector came into effect on Friday, the Human Resources and Social Development Ministry said in a statement. Under the new rules, clinical nutrition and physical therapy roles must meet an 80% Saudization rate, medical laboratory professions 70%, and radiology 65%. The minimum monthly wage for the sectors is set at SAR 7k for specialists and SAR 5k for technicians.

DATA POINTS-

The Kingdom topped Arab countries in cinema revenues in 2024, generating USD 225.5 mn, Asharq Business reported yesterday, citing data from the Film Commission’s annual report. The UAE followed with USD 211.4 mn, and Kuwait ranked third with USD 49.2 mn.

SPORTS-

Riyadh will host the Women Tennis Association’s (WTA) Finals from 1 to 8 November with prizes totaling USD 15.5 mn at King Saud University Indoor Arena. Elena Rybakina (9th in the race), Jasmine Paolini (8th), and Mirra Andreeva (7th) will compete in Riyadh for the last two remaining spots in the eight-player tournament, Reuters reports.

REFRESHER- In May 2024, the Public Investment Fund became the WTA's first-ever naming partner of the WTA Rankings under a “multi-year partnership,” just weeks after Riyadh was named host of the WTA tennis finals from 2024-2026 in April.

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THE BIG STORY ABROAD-

Israel has reinstated a ceasefire in Gaza after airstrikes killed 26 people in Gaza yesterday, prompted by an attack in Rafah that killed two Israeli soldiers. Israel had briefly halted the truce and stopped aid entry into Gaza, accusing Hamas of a “blatant” violation. Following US pressure, the Israeli side announced that aid will once again start entering Gaza. (Reuters | BBC | AP | The Guardian)

ELSEWHERE IN THE WORLD- Eight crown jewels were stolen from the Louvre Museum in Paris after four thieves broke into the museum during opening hours and robbed it. The thieves had targeted nine objects but dropped the ninth one during their escape. A specialized French police unit is currently investigating the robbery. (Reuters | AP | NYT | CNN | BBC)

Acwa Power seals SAR 10.8 bn financing for Qurayyah power project expansion

Renewables giant Acwa Power reached financial close on the Qurayyah independent power project (IPP) expansion in the Eastern Province, according to a disclosure. The project will be developed, built, owned, and operated by Hajar Two Electricity Company — a consortium of Acwa Power, Saudi Electricity Company (SEC), and Hajj Abdullah Alireza & Company.

Who’s in? The SAR 10.8 bn (c.USD 2.9 bn) financing — with a 28-year tenor — was arranged through a group of local, regional, and international lenders including ADCB, Ajman Bank, Alinma, ANB, Banque Saudi Fransi, Boubyan, Commercial Bank of Dubai, Eurobank, HSBC, NBK, Riyad Bank, Saudi Awwal Bank, Standard Chartered, Sumitomo Mitsui Trust Bank, Korea Development Bank, Saudi Investment Bank, and Saudi National Bank.

REMEMBER- SEC and Acwa signed a SAR 13.4 bn power purchase agreement with the Saudi Power Procurement Company for the QIPP expansion back in February. SEC and Acwa each hold a 40% stake in the project, while HAAISCO owns the remaining 20%.

Project details: The project will see the development of a 3.01 GW combined-cycle gas turbine (CCGT) power plant ready for carbon capture and a 380 kV electrical substation. The existing USD 668.3 mn Qurayyah IPP project — touted as the world’s largest combined cycle gas-fired power plant — has a net generation capacity of 3.9 GW, and began commercial operations back in 2015.

Some contracts are already in place: A JV between Egypt’s Orascom Construction and Spain’s Tecnicas Reunidas signed a USD 2.6 bn Engineering, Procurement, and Construction contract with Hajr Two Electricity Company back in March. Later in May, GE Vernova secured an order for gas turbines from Tecnicas Reunidas and Orascom Construction’s JV, set to be installed at the plant.

Banque Saudi Fransi kicks off fresh AT1 sale, set to call SAR 5 bn sukuk in November

Banque Saudi Fransi (BSF) kicked off an additional tier 1 (AT1) sukuk via private placement to top up its capital reserves, it said in a bourse filing yesterday. The bank tapped Saudi Fransi Capital as its sole bookrunner, lead arranger, and lead manager for the offering, which falls under BSF’s SAR 8 bn AT1 capital sukuk program.

The details: The private placement is open to institutional and qualified investors, with the offer period running until Monday, 10 November. The minimum subscription is SAR 1 mn, while pricing and yield will be set based on market conditions.

IN CONTEXT- About 70% of Saudi banks’ issuances this year came from subordinated instruments, mainly AT1 and Tier 2 sukuk, as lenders move to shore up capital ahead of tighter regulatory buffers taking effect in 2026. Local lenders have raised over USD 29 bn in debt so far in 2025, more than half of total GCC issuance, helping crown the Kingdom the busiest issuer across MENA in 9M 2025.

ICYMI- The lender last tapped the debt market in August, closing a USD 1 bn T2 issuance with a 5.761% annual return. The bond, which was open to both local and international investors and carried a 10-year maturity and a five-year call, falls under the bank’s medium-term note program.

ALSO- BSF will redeem its outstanding SAR 5 bn AT1 sukuk issued in 2020 on Monday, 3 November 2025, its first call date, the bank said in a separate disclosure. The redemption at face value will include periodic yield distributions for the period and will be settled through Saudi Fransi Capital.

IN OTHER DEBT NEWS-

Takween Advanced Industries plans to establish SAR-denominated local sukuk programs worth SAR 650 mn, it said in a disclosure to Tadawul yesterday. The sukuk programs will aim to support working capital and operational needs, fund expansion, and advance the company’s strategic goals. Takween tapped Sukuk Financial Company as the financial advisor for both public and private issuances.

Saudi banks’ net income up 3.4% q-o-q in 2Q 2025 -Alvarez & Marsal

The Kingdom’s top 10 listed banks saw their aggregate net income grow 3.4% q-o-q in 2Q 2025 to SAR 22.9 bn, moderating from 1Q’s 6.3% q-o-q growth, according to global consulting firm Alvarez & Marsal’s Saudi Arabia’s Banking Pulse 2Q report (pdf). The report attributed the uptick to higher non-interest income and a more measured pace of lending and deposit expansion.

Meet the banks: The report analyzed Saudi National Bank (SNB), Al Rajhi Bank, Riyad Bank, Saudi British Bank, Banque Saudi Fransi, Arab National Bank, Alinma Bank, Bank Albilad, Saudi Investment Bank, and Bank Aljazira.

Net loans and advances for Saudi banks expanded 2.5% q-o-q in 2Q — slightly lower compared to the previous quarter’s 5.4% q-o-q increase — driven by corporate lending, which inched up 3.9% q-o-q during the quarter. The growth mirrored sustained demand from large projects and Vision 2030-linked investments, according to the report.

The slowdown was primarily driven by SNB and Al Rajhi, with SNB posting a 2.4% q-o-q decline in retail loans and a slowdown in corporate lending, which expanded by 4.3% q-o-q in 2Q, compared to 14.5% in the previous quarter. Similarly, Al Rajhi’s lending activity slowed to 2.6% q-o-q in 2Q — down from 4.1% in the previous quarter — with retail loans, which represent 65.9% of the total loans, modestly growing by 1.0% q-o-q.

Net interest margins contracted for the second consecutive quarter to 2.8% — down by 8 basis points from 1Q — on the back of persistent cost pressures, which hiked 11 bps to 3.4%, while yield on credit held steady at 8.0%, according to the report.

Aggregate deposits posted a moderate growth of 2.7% q-o-q in 2Q, boosted by elevated government-related deposits. Loan-to-deposit ratio remained strong at 105.9% — marking a marginal decrease of 22 bps from 1Q — supported by higher government deposits, which enhanced overall funding conditions.

Aggregate interest income rose 4.4% q-o-q in 2Q — reversing 1Q’s 1.0% decline — while non-interest income jumped 5.6% q-o-q in the second quarter. The aggregate cost-to-income ratio improved by 30 bps to 29.5%, with eight of the 10 banks reporting better efficiency.

Asset quality posted better performance in 2Q, as the non-performing loans ratio dipped marginally to 1.0% q-o-q, while the coverage ratio rose 113 bps to 155.9%.

Saudi banks’ return on equity (RoE) rose 12 bps to 15.4%, buoyed by a 3.4% q-o-q rise in net income. “Banks benefitted from higher non-interest income and enhanced operational efficiency,“ AlvarezMarsal’s Head of ME Financial Services Sam Gidoomal wrote in the report. Return on assets remained broadly steady at 2.0%, signaling the sector’s steady performance, according to the report.

The big picture: “Banks entered 2H 2025 from a position of strength – despite episodic share price volatility, the Saudi banking sector remains resilient, supported by strong fundamentals, domestic buffers and increasing profitability and RoE,” Alfarez & Marsal’s Managing Director Quentin Mulet-Marquis said. “Meanwhile, foreseeable pressure on banks’ profitability stemming from lower rates – which to-date have been offset by growth in non-interest income, lower cost of risk and strong cost discipline – coupled with comfortable capital buffers, increased competition and healthy valuation multiples support a gradual increase in M&A activity in the sector,” he added.

Marketing platform Kliq bags in SAR 2.25 mn in seed funding round

Home-grown content creator marketing platform Kliq raised SAR 2.25 mn in a seed funding round led by Sanabil Venture Studio, with participation from Stryber, according to a press release. Kliq will use the fresh funds to boost the growth of its AI tools and ramp up efforts to help brands and content creators deliver more efficient and transparent campaigns.

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About Kliq: Founded by Asma’a Al Maraghi (LinkedIn) and Badr Al Malluh (LinkedIn), the AI-driven platform manages campaigns, enabling brands to make data-driven decisions, and provides content creators with prospects for collaboration and monetization.

Yousef Al Benyan reappointed as chairman of SME Bank

Crown Prince Mohammed bin Salman reappointed Yousef Al Benyan as chairman of the Small and Medium Enterprises Bank (SME Bank) for another three-year term, effective 5 December, the bank said in a statement on Thursday. Al Benyan has held the position since February 2023.

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Sidc targets SAR 300 mn capital with new SAR 165 mn share offer

CAPITAL MARKETS-

Saudi Industrial Development Company (Sidc) is moving ahead with a SAR 165 mn rights issue, offering 16.5 mn ordinary shares at SAR 10 apiece to lift its capital to SAR 300 mn from SAR 135 mn, according to the prospectus (pdf) it released yesterday.

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Next step: Eligible shareholders will be granted about 1.2 shares for every one owned, with each share allowing subscription to one new share. Shares will be tradeable on Tadawul, with a subsequent rump offering to institutions for any unsubscribed shares. The subscription period will be determined following the general assembly’s approval.

Use of proceeds: Sidc is earmarking SAR 6 mn from the expected SAR 159 mn in proceeds to cover offering costs. The remainder of the proceeds will be divided between working capital (SAR 73 mn), repayment of certain credit facilities (SAR 22 mn), launching new brand identity stores of Sleep High (SAR 40 mn), upgrading and automating production lines (SAR 20 mn), and implementing the Enterprise Resource Planning system (SAR 4 mn).

ADVISORS- Alinma Capital is acting as the financial advisor, lead manager, and underwriter on the transaction, with Khaligyoun Legal Advisors providing counsel.

DEBT WATCH-

#1- Al Majed Oud activated a SAR 200 mn shariah-compliant credit facility agreement signed in late August with Al Rajhi Banking and Investment Corporation, it said in a Tadawul disclosure yesterday. The one-year renewable agreement — backed by murabaha and facility agreements and a promissory note — will boost the company’s finances and operations.

#2- Al Fakhera Men’s Tailoring secured SAR 45 mn in shariah-compliant credit facilities from the Arab National Bank, it said in a Tadawul disclosure yesterday. The five-year agreement has a one-year grace period and aims to boost the company’s working capital and contribute to expansion plans. It’s backed by a SAR 45 mn promissory note and a pledge on a portfolio.

First Brands’ bankruptcy signals early signs of trouble for leveraged loan market investors

The recent fallout of US-based autoparts maker First Brands Group has sent alarm bells ringing across the USD 2 tn leveraged loan market, the Financial Times reported on Friday. Investors warn that the sudden fallout is part of a broader pattern of stress, marking an early warning sign for a market where hasty dealmaking and rushed due diligence have become the norm.

The shockwaves have spread well beyond the loan market. Investment bank Jefferies saw its share drop by nearly 20% after disclosing losses tied to First Brands, while hedge fund Millennium is also said to have suffered losses of around USD 100 mn from financing the company’s inventory, The Economist reports. The fallout illustrates how risk tied to a single borrower has reached across banks, hedge funds, and trade-finance lenders alike.

Jefferies’ CEO Rich Handler told investors the bank “believes it was defrauded” by First Brands, joining a chorus of firms alleging misconduct, Reuters reports. Jefferies said its exposure — about USD 715 mn in receivables — is largely contained, with estimated losses of under USD 100 mn after recoveries, Morningstar analyst Sean Dunlop said. Handler’s remarks reflect rising friction between banks and private lenders — each blaming the other for letting risky credit swell unchecked.

The problem stems from the “almost unquenchable demand” for collateralized loan obligations (CLO) — investment vehicles that buy and bundle hundreds of risky corporate loans, according to the salmon-colored paper. These loans are sliced into tranches and sold to major investors such as ins. companies and pension funds, which bet on diversification as a safeguard against defaults in individual companies.

The strong demand seems to have eroded the incentive to conduct proper credit checks. With CLO investors eager to fill their portfolios, transactions have often been pushed through in days rather than weeks, leaving little time to assess borrowers’ financial health. “You’re not paid to do due diligence in this market,” an executive at a former lender to First Brands told the FT.

The episode also exposes how difficult it has become to track risk across modern credit markets, as lending has shifted since the 2008 crisis away from banks into a web of private credit funds, business development companies, and securitized vehicles such as CLOs and collateralized fund obligations. The US Department of Justice is now investigating First Brands’ accounts to determine whether the company misrepresented its borrowing and collateral, including potential multiple pledges against the same assets, The Economist reported.

The lack of scrutiny allowed red flags to slip through. First Brands raised more than USD 750 mn in March 2024 via a loan announced on Monday and finalized by Friday, according to the salmon-colored paper. Investors who avoided the debt said the company’s “adjusted” earnings were nearly impossible to tie back to its actual cashflow, raising doubts about the business’s true financial strength.

First Brands had issued more than USD 5 bn in loans, which are now trading at cents on the USD, implying losses of roughly USD 4 bn. Most CLOs managed by major asset firms — including PGIM, Franklin Templeton, Blackstone, CIFC, Oaktree, and Wellington — had exposure to First Brand’s debt, according to an analysis by Morgan Stanley. These losses are set to wipe out the CLO equity tranches, the high-risk cushions meant to absorb the first wave of defaults.

Back-to-back bankruptcies: The bankruptcies of First Brands and subprime lender Tricolor — the latter amid fraud allegations — have triggered a sell-off in corporate debt that is now weighing on the broader leveraged loan market, which is on track for its biggest monthly loss since 2022, the FT cites data from PitchBook LCD.

MARKETS THIS MORNING-

Hong Kong’s Hang Seng is leading the gains among Asian markets this morning, rising 2.1% in early trading after China held lending rates steady. The Shanghai Composite is up 0.6%, while Japan’s Nikkei remains unchanged. Meanwhile, Wall Street futures are in the green as investors await a busy earnings week ahead.

TASI	11,691	-0.1% (YTD: -2.9%)
MSCI Tadawul 30	1,552	-0.1% (YTD: +0.9%)
NomuC	25,484	-0.4% (YTD: -19.0%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.75% repo	4.25% reverse repo
EGX30	37,910	+0.6% (YTD: +27.5%)
ADX	10,124	-0.2% (YTD: +7.5%)
DFM	5,992	-0.6% (YTD: +16.2%)
S&P 500	6,664	+0.5% (YTD: +13.3%)
FTSE 100	9,355	-0.9% (YTD: +14.5%)
Euro Stoxx 50	5,607	-0.8% (YTD: +14.5%)
Brent crude	USD 61.09	-0.3%
Natural gas (Nymex)	USD 3.15	+4.8%
Gold	USD 4,257	+1.1%
BTC	USD 108,845	+1.5%(YTD: +16.4%)
Sukuk/bond market index	921.25	0.0% (YTD: +2.1%)
S&P MENA Bond & Sukuk	151.76	+0.1% (YTD: +8.4%)
VIX (Volatility Index)	20.78	-17.9% (YTD: +19.8%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.1% yesterday on turnover of SAR 4.2 bn. The index is down 2.9% YTD.

In the green: Acwa Power (+5.9%), Chubb (+3.6%) and DWF (+3.4%).

In the red: Naseej (-6.4%), Amiantit (-3.0%) and Almunajem (-2.6%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.4% yesterday on turnover of SAR 22.5 mn. The index is down 19.0% YTD.

In the green: Aictec (+7.9%), Wajd Life (+7.4%) and NBM (+7.2%).

In the red: Rawasi (-9.1%), AME (-5.7%) and Mayar (-5.0%).

CORPORATE ACTIONS-

Tourism Enterprises Company (Shams) will increase its shares’ value to SAR 10 apiece from SAR 0.5 by reducing the number of shares to 57.8 mn from 1.2 bn, it said in a Tadawul disclosure yesterday. The company’s capital will not undergo any changes.

CALENDAR

25 September-19 December (Thursday - Friday) 2025 Saudi Toyota Championship.

28 September-1 January: Title deed registration for 54k properties in 77 neighborhoods across Riyadh, Makkah, and the Eastern Province.

OCTOBER

12 October-15 January 2026: Title deed registration for 31.7k properties in 14 neighborhoods in the Eastern Province.

12 October-15 January 2026: Title deed registration for about 157.3k properties in 78 neighborhoods across the Eastern Province.

12 October-15 January 2026: Title deed registration for about 41.7k properties across 115 neighborhoods in Riyadh, Qassim, and the Eastern Province.

19-20 October (Sunday-Monday): Saudi Rail International, Riyadh Front Exhibition and Conference Center.

21 October (Tuesday): The Visual Arts Commission will hold a public talk and a live performance in Paris through Asia NOW under its Art & Ideas program.

21-22 October (Tuesday-Wednesday): Saudi Festival of Creativity (Athar), JAX District, Riyadh.

21-23 October (Tuesday-Thursday): Global Internet of Things Congress 2025 (GIoTC 2025), the Arena Venue, Riyadh.

22 October (Wednesday): Construction Technology ConFex KSA (CTF KSA), Crowne Plaza Riyadh RDC Hotel, Riyadh.

22 October (Wednesday): Data Centre Technology ConFex (DCTC), Crowne Plaza Riyadh RDC Hotel, Riyadh.

22-23 October (Wednesday-Thursday): Private Capital Forum, Riyadh.

23-25 October (Thursday-Saturday): Zenos Wellness Summit, Bab Samhan Hotel, Riyadh.

24 October-1 November (Friday-Saturday): AlUla Wellness Festival.

26-27 October (Sunday-Monday): The Global Proptech Summit 2025, Mandarin Oriental Al Faisaliah, Riyadh.

27-30 October (Monday-Thursday): Global Health Exhibition, Riyadh Exhibition and Convention Center, Riyadh.

27-30 October (Monday-Thursday): Future Investment Initiative (FII9), King Abdulaziz International Conference Center (KAICC) and the Ritz-Carlton, Riyadh.

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

28 October (Tuesday): The Middle East Industry Congress – HVACR Next Generation, InterContinental Durrat Al Riyadh Resort & Spa in Riyadh.

NOVEMBER

2 November (Sunday): Naming ASICS Innovation Pitch competition’s six finalists.

2-3 November (Sunday-Monday): The Forbes Middle East Women’s Summit, Fairmont Riyadh Hotel.

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

5-6 November (Wednesday-Thursday): The Digital Government Forum, JW Marriott Hotel in Riyadh

5-8 November (Wednesday-Saturday): Binam Forum 2025, Riyadh Front Exhibition and Conference Center.

5-9 November (Wednesday-Sunday): Jewellery Salon Expo, Riyadh.

7-8 November (Sunday-Monday): The Visual Arts Commission will conclude its Art & Ideas program with a two-day symposium in Riyadh.

8-9 November (Saturday-Sunday): Del Monte Superleague Supercup, Jeddah.

9 November (Sunday): The deadline for applications for the second batch of the Standard Incentives for the Industrial sector deadline.

10-12 November (Monday-Wednesday): BioFach Saudi Arabia, Riyadh International Convention & Exhibition Center.

11-13 November (Tuesday-Thursday): TouriseSummit, Riyadh.

16-17 November (Sunday-Monday): Jeddah Fintech Week 2025, Jeddah Hilton, Jeddah.

17-20 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre, Riyadh.

19-22 November (Wednesday-Saturday): PIF Saudi International Golf Championship, Riyadh Gold Club.

20 November (Thursday): Deadline for title deed registration for 14.6k properties across 21 neighborhoods in Qassim.

22 November (Saturday): The Ring IV, ANB arena, Riyadh.

23-26 November (Sunday-Wednesday): Saudi Food Exhibition and Conference, Riyadh.

23-27 November (Sunday-Thursday): Global Industry Summit by United Nations Industrial Development Organization, Riyadh.

24-26 November (Monday-Wednesday): The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh.

24-26 November (Monday-Wednesday): Metropolis Madinah Conference for civilizational capitals, King Salman International Convention Centre (KSICC), Al Madinah.

25-26 November (Thursday-Saturday): The Global Sustainability Expo, The Arena Riyadh Venue, Ghirnatah.

25-29 November (Thursday-Monday): General Aviation Airshow 2025 - Sand & Fun, Riyadh.

27 November (Saturday): Deadline for title deed registration for 8.7k properties in Jeddah’s Al Sheraa and Al Amwaj neighborhoods.

27-30 November (Thursday-Sunday): World Rally Championship Saudi Arabia 2025, Jeddah.

28-30 November (Friday-Sunday): UIM F1H2O World Championship, Jeddah.

30 November (Sunday): Zatca 21st E-invoicing integration wave deadline.

30 November-1 December (Sunday-Monday): FII Priority Asia Summit, Tokyo.

DECEMBER

1-3 December (Monday-Wednesday): Industrial Transformation Saudi Arabia, Riyadh International Convention & Exhibition Center.

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

1-4 December (Monday-Thursday): 61st ISOCARP World Planning Congress, Riyadh.

7-9 December (Sunday-Tuesday): CoMotion Global 2025, Riyadh.

8-9 December (Monday-Tuesday): Digital Acceleration and Transformation Expo (DATE), JW Marriott hotel, Riyadh.

8-9 December (Monday-Tuesday): Climate Action and Renewable Energy (CARE), JW Marriott hotel, Riyadh.

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

11 December (Thursday): Deadline for title deed registration for 214.2k properties across Riyadh and the Eastern Province.

16-17 December (Tuesday-Wednesday): Global Airports Forum (GAF) 2025, Riyadh International Convention and Exhibition Center, Riyadh.

25 December (Thursday): Deadline for title deed registration for 64.4k properties across neighborhoods in Madinah, Makkah, Riyadh, and the Eastern Province.

25-27 December (Saturday-Monday): The Fortune Global Forum 2025, Riyadh.

31 December (Wednesday): Zatca 22nd E-invoicing integration wave deadline.

31 December (Wednesday): Cancellation of Fines and Exemption of Financial Penalties Initiative by the Zakat, Tax and Customs Authority (Zatca) deadline.

December: Made in Saudi exhibition, Riyadh International Convention and Exhibition Center, Riyadh

2026

JANUARY

1 January (Thursday): Electronic salary transfer via the Musaned platform becomes mandatory for all domestic workers in the Kingdom.

13-15 January (Tuesday-Thursday): Future Minerals Forum, King Abdul Aziz International Conference Center, Riyadh.

20 January (Tuesday): SuperReturn Saudi Arabia, Hotel Fairmont, Riyadh.

18-21 January (Sunday-Wednesday): Saudi Hospital Design and Build Expo, Riyadh.

26-27 (Monday-Tuesday): GPRC Summit, Riyadh.

26-28 (Monday-Wednesday): Saudi Franchise Expo (SFE), Riyadh Exhibition and Convention Centre, Riyadh.

26-28 (Monday-Wednesday): Real Estate Future Forum, Four Seasons Hotel, Riyadh.

26-28 (Monday-Wednesday): IFAT Saudi Arabia, Riyadh Front Exhibition & Conference Center, Riyadh,

27-28 (Tuesday-Wednesday): SkyMove Air Cargo MENA, Riyadh.

28 (Wednesday): Data Center Nation Riyadh, Riyadh.

28-30 (Wednesday-Friday): Jeddah International Travel and Tourism Exhibition (JTTX), Jeddah.

FEBRUARY

2-4 (Monday-Wednesday): Saudi Media Forum, Riyadh.

2-4 (Monday-Wednesday): Women Leaders Summit and Awards KSA, Riyadh.

2-13 (Monday-Friday): 2026 Asian Road Cycling Championship and Paralympic Cycling, Qassim.

3-4 (Tuesday-Wednesday): RLC Global Forum Annual Meeting, Riyadh.

5-7 February (Thursday-Saturday): LIV Golf 2026 season opener, Riyadh Golf Club, Riyadh.

8-12 February (Sunday-Thursday): World Defense Show, Riyadh International Convention and Exhibition Center, Riyadh.

9-14 February (Monday-Saturday): Asian Racing Conference, Crowne Plaza Riyadh RDC Hotel & Convention Centre, Riyadh.

11 (Wednesday) Digital Transformation Summit Saudi Arabia (DTS), Riyadh.

11-14 (Wednesday-Saturday): JeddaDerm, Jeddah.

13-14 February (Friday-Saturday): Jeddah E-Prix 2026, Jeddah.

MARCH

21 March (Saturday): Fanatics Flag Football Classic, Kingdom Arena, Riyadh.

31 March (Tuesday): Zatca’s 23rd E-invoicing integration wave deadline.

APRIL

6 April (Monday): Procurement and Supply Chain Futures Forum, Al Faisaliah Hotel, Riyadh.

6-7 April (Monday-Tuesday): Real Estate Supply Chain Forum, Al Faisaliah Hotel, Riyadh.

12-15 April (Sunday-Wednesday): Saudi Print & Pack, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Riyadh International Industry Week, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Saudi Plastics & Petrochem, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Saudi Smart Logistics, Riyadh International Convention & Exhibition Center.

13-16 April (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.

20-22 April (Monday-Wednesday): The Future Hospitality Summit, Mandarin Oriental Al Faisaliah Al Faisaliah Hotel, Riyadh.

20-22 April (Monday-Wednesday): Saudi Paper and Packaging Expo, Riyadh International Convention & Exhibition Center.

21 April (Tuesday): GC Summit Saudi Arabia 2026, Saudi Arabia.

27-29 April (Monday-Wednesday): Aluminum Arabia, The Arena, Riyadh.

MAY

3-5 May (Sunday-Tuesday): Sports Investment Forum (SIF), Riyadh.

OCTOBER

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

Signposted to happen sometime in 2026:

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.
November: The Esports Nations Cup, Riyadh.
The Intervision international music competition will take place in Saudi Arabia.
6 July-23 August (Monday-Sunday): Esports World Cup, Riyadh.

Signposted to happen sometime in 2027:

The World Water Forum takes place in Riyadh.
The Ocean Race finishes in Amaala on the Red Sea.
Riyadh-Kudmi transmission line to be completed.

Signposted to happen sometime in 2Q 2027:

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

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