Alramz Real Estate sets IPO price range, could raise SAR 900 mn

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WHAT WE’RE TRACKING TODAY

THIS MORNING: CGS to open new facility in Al Kharj + Maaden gains momentum following rare earths agreement

Good morning, ladies and gents. It’s a slow start to the week that feels welcome after the downpour of multi-bn agreements signed last week. A main market IPO is leading this morning’s news well as Alramz Real Estate set an IPO price range that could see the company valued at up to SAR 3 bn at listing. Meanwhile, global logistics giant DHL is doubling down on Saudi with a EUR 130 mn investment into a new logistics hub. Let’s dive in.

WEATHER- We encourage you to enjoy the uninterrupted blue skies today, as calm weather is forecasted across most regions.

Riyadh: 26°C high / 14°C low.
Jeddah: 34°C high / 25°C low.
Makkah: 34°C high / 24°C low.
Dammam: 30°C high / 16°C low.

WATCH THIS SPACE-

CGS to open new facility in Al Kharj: Saudi refrigeration systems manufacturer Consolidated Grünenfelder Saady Holding (CGS) plans to invest some SAR 150-170 mn to open a new facility in Al Kharj Al Haditha, CEO ‏Peter Färber told Asharq Business (watch, runtime: 11:49) yesterday. Shareholders have no plans to exit their stakes following the company’s upcoming listing of a 30% stake on Tadawul’s main market, Färber said.

ICYMI- The company priced its IPO at SAR 10 apiece after strong institutional demand, setting up the selling shareholders to raise about SAR 300 mn and valuing CGS at SAR 1 bn at listing.

Maaden’s stock gains momentum: Shares of Saudi Arabian Mining Company (Ma'aden) rose by 3.3% to close yesterda’ys session at SAR 63.35, buoyed by an MoU signed last week with US-based MP Materials and the US Department of War to establish a rare earth refinery in the Kingdom. The mining giant’s stock price logged a 26% YTD increase, bucking TASI’s 7% decline.

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THE BIG STORY ABROAD-

The US proposal to end the war in Ukraine is dominating headlines this morning. US and Ukrainian officials who met yesterday in Geneva said they made progress on a new version of the controversial 28-point plan that would have seen Ukraine acquiesce to most of Russia’s territorial and military demands. It’s still unclear what issues have been resolved during the talks, which come at a difficult moment for Kyiv after slowly losing ground against Russia in a number of key regions. (Reuters | Financial Times | Bloomberg)

CLOSER TO HOME- A high-profile strike by Israel on Beirut — the first in months — killed militant group Hezbollah’s acting military chief of staff Haytham Ali Tabatabai. Some fear the strike could be paving the way for a renewed offensive campaign on Lebanon to force Hezbollah to disarm. (Washington Post | Reuters)

SPORTS-

The Kingdom opened ticket sales for the AFC U23 Asian Cup 2026, with seats now available through the Asian Football Confederation ’s website as the Kingdom prepares to host the tournament for the first time, state news agency SPA reports. The tournament will run from 6 to 24 January, featuring 16 teams, with tickets priced at SAR 15 for general admission and SAR 75 for premium seating.

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Alramz Real Estatesets IPO price range at SAR 67-70 apiece

Alramz Real Estate set the price range for its upcoming Tadawul IPO at SAR 67-70 per share, according to an announcement from SNB Capital picked up by Argaam. The IPO would raise SAR 900.2 mn in gross proceeds at the top of the range, implying a market cap of SAR 3 bn at listing, according to our calculations.

ICYMI- The company is offering 12.86 mn newly issued shares, equivalent to 30% of its post-increase capital. Capital will rise to SAR 428.57 mn — up from SAR 300 mn — upon the completion of the offering. Al Ramz secured binding commitments from three cornerstone investors for 2.7 mn shares last week.

Use of proceeds: Proceeds from the offering, excluding SAR 27 mn for IPO-related expenses, will be used entirely by the company. Alramz will use some 37% of the net proceeds to develop projects, 36% to finance new real estate funds, and 23% for general corporate purposes. Current shareholders will not receive any funds from the offering.

The book-building period for institutional investors kicked off yesterday and will run until Thursday, 27 November. Meanwhile, retail investors will be able to subscribe to 20% of the offered shares between 7-9 December. Final allocations will be made on Monday, 15 December.

ADVISORS- SNB Capital is quarterbacking the transaction as the financial advisor, lead manager, bookrunner, and underwriter. Receiving agents include SNB Capital, BSF Capital, Al Rajhi Capital, Sab Invest, Alinma Capital, Riyad Capital, AlJazira Capital, Alistithmar Capital, AlBilad Investment, ANB Capital, Derayah Financial, Yaqeen Capital, AlKhabeer Capital, Sahm Capital, GIB Capital, Musharaka Financial, EFG Hermes KSA, and Awaed Financial Assets.

ALSO IN THE PIPELINE-

Consolidated Grünenfelder Saady Holding’s (CGS) three-day retail offering will kick off on Wednesday, 26 November, after it priced its IPO at the top of the range;
Almasar Education’s retail tranche closed last week with final allocations due Wednesday, 26 November;
Cherry Trading’s IPO concluded last week, with the first day of trading still under wraps;
IT firm Ejada Systems, which missed its six-month IPO window, is set to resubmit an IPO application to the CMA;
PIF-backed Saudi Global Ports, Tabreed District Cooling, Medical procurement firm Nupco, Riyad Capital, and BNPL platform Tabby are among companies that tapped banks for potential IPOs;
F&B players Barns, Half Mn, Deemah, and Hashi Bashi are said to be sounding out banks for potential debuts on the main market;
Almosafer is preparing for a public listing on Tadawul by late 2025 or early 2026;
Alternative hospitality platform Gathern, local contractor Mutlaq Al Ghowairi Contracting (MGC), PIF-backed CloudKitchens, fast delivery app Ninja, Meal subscription startup Calo, Emkan Finance, and Tamweel Aloula are all said to be considering Tadawul IPOs.

DHL to plug EUR 130 mn into new logistics hub in Riyadh

Global supply chain giant DHL earmarked EUR 130 mn (SAR 561 mn) for building a new Riyadh logistics hub, located in the city’s special integrated logistics zone next to King Khalid International Airport, DHL Middle East and Africa CEO Orkun Saruhanoglu told Bloomberg. The hub is scheduled to open in 2027.

Construction on the new hub is slated to kick off next year. The 78k sqm project will offer its services to DHL’s customers over a variety of expanding industries, including the tech, e-commerce, and automotive sectors. The bonded warehouse will act as a bonded corridor to King Khalid International Airport and is expected to slash clearance times in the Kingdom.

Part of a EUR 500 mn investment plan: DHL Group is planning to invest over EUR 500 mn in the Middle East between 2024 and 2030, with a focus on Saudi Arabia and the UAE. The investment spans the company’s four divisions — DHL Express, DHL Global Forwarding, DHL Supply Chain, and DHL eCommerce.

Saudi Arabia is DHL’s fastest-growing market in the region, Saruhanoglu said, noting that the company is mulling over further expansion in the Kingdom, without disclosing further details. The company’s new hub is forecast to support domestic and regional trade flows by boosting the country’s capacity for manufacturing and distribution activities.

DHL has lots of hands in the Kingdom: DHL Supply Chain tapped oil giant Aramco to form a joint venture, Advanced Supply Management Operations (ASMO), in 2023. The JV inked a 15-year agreement with Aramco in January to manage procurement and logistics services for the energy firm. The JV also locked in SAR 300 mn in agreements with Aramco Digital, SAP, and Oracle in January to digitalize the transformation of the supply chain and procurement landscape.

Construction costs in Saudi inch up 1% y-o-y in October

The Kingdom’s Construction Cost Index (CCI) rose 1% y-o-y in October, maintaining the same pace as the previous month, according to recent data (pdf) from the General Authority for Statistics. The uptick was driven by a 1% increase in residential construction costs and a 0.9% rise in non-residential costs.

The drivers: Residential construction costs rose on the back of a 1.5% increase in labor expenses, a 1.2% rise in equipment and machinery rental prices, and a 1.4% increase in rentals of equipment and machinery with operators. Meanwhile, non-residential construction costs jumped due to a 1.3% rise in equipment and machinery rental prices, a 1.6% increase in rentals of equipment and machinery with operators, and 1% growth in labor costs.

ALSO- Energy prices jumped 9.9% in October. For residential projects, basic materials prices edged up 0.1% y-o-y, supported by a 1.7% increase in raw materials prices and a 1.3% rise in cement and concrete. In the non-residential segment, prices for basic materials rose 0.2%, thanks to a 2.0% increase in wood and carpentry prices and a 1.5% rise in raw materials prices.

On a monthly basis: The CCI remained stable in October compared to September, as both residential and non-residential construction costs showed no change m-o-m.

Tadawul logs a mixed performance in 3Q 2025

Tadawul demonstrated a mixed performance in 3Q 2025, characterized by cooling equity trading volumes, continued resilience in foreign inflows, and a shift in debt issuance activity, according to the Capital Market Authority’s (CMA) latest quarterly bulletin (pdf). The main market and the parallel market saw benchmarks and daily turnover retreat from previous highs, reflecting broader market cooling after a strong 2Q, while the equity IPO window remained active.

Tadawul’s benchmark index TASI averaged 11.5k points in 3Q, down from 12.2k points a year earlier. The value traded on the main market came in at SAR 326 bn, compared to SAR 445.8 bn in 3Q 2024, while the average daily turnover eased to SAR 5 bn from SAR 6.9 bn. Meanwhile, Tadawul’s overall market capitalization slipped to SAR 9.3 tn, down from SAR 10.1 tn a year ago.

Nomu also cooled from last year’s highs: The parallel market basically flattened at 25.47k points in 3Q 2025, with its total value traded coming in at SAR 2.05 bn, lower than the SAR 2.98 bn recorded in 3Q 2024. The average daily turnover on the parallel market reached SAR 31.5 mn in 3Q, slipping from SAR 45.9 mn a year earlier.

ON EQUITY-

Tadawul's main and parallel markets saw eight IPOs in the third quarter, worth a total SAR 2.36 bn, an increase from five in the same quarter last year. The initial market cap of newly listed companies totaled SAR 8.26 bn, a sharp 4.6x increase from a year earlier (SAR 1.79 bn). However, this momentum cooled off from a stronger 2Q, which saw 13 companies go public, raising SAR 25.6 bn.

In the pipeline: The CMA approved four IPOs on the main market in 3Q 2025 versus one on the parallel market. Another 35 IPOs are currently under review, including 16 on the main market and 19 on Nomu.

Local investors accounted for 94.4% of total ownership by value, while foreign investors held 4.8%, while GCC investors accounted for only 0.8%. Institutional ownership remained flat in 3Q, accounting for 95.15% of total market ownership.

It’s a different picture for trading: Local investors accounted for 62% of total trading in 3Q, followed by foreigners at 36%.

IN CONTEXT- Saudi equities kept pulling in foreign capital in 3Q even as local trading volumes softened. Foreign investors were net buyers to the tune of SAR 10.1 bn last quarter, the strongest quarterly intake this year, backed by expectations that Tadawul will ease foreign ownership limits before year-end.

THE DEBT WATCH-

Private over public: The public debt market remained inactive in 3Q 2025, with no SAR-denominated public debt issuances recorded, unchanged from the same quarter last year. The activity was concentrated entirely in private placements, where seven issuers completed 16 offerings, raising a combined SAR 4.2 bn, down sharply from SAR 15.89 bn across four issuers and nine offerings in 3Q 2024.

Meanwhile, the non-SAR debt market picked up, with total issuance rising to SAR 6.04 bn from SAR 2.39 bn a year earlier. Private placements also accounted for all activity, with 17 issuers completing 18 offerings worth SAR 5.42 bn, alongside one government issuance of SAR 619 mn.

ALSO- Total assets under management (AUM) across Saudi investment funds rose to SAR 217.86 bn in 3Q, significantly up from SAR 160.09 bn in 3Q 2024. The growth was driven primarily by money market funds, which climbed to SAR 71.58 bn from SAR 44.87 bn a year earlier. Meanwhile, fixed-income funds also increased to SAR 30.36 bn, up from SAR 22.24 bn in 3Q last year.

Regtech firm Stamp bags USD 2 mn in pre-seed funding round

Riyadh-based regtech company Stamp closed a USD 2 mn pre-seed funding round, Jawlah reports. The funds will be used to accelerate the development of its AI-powered platform, which is designed to enhance corporate compliance with regulations in the Saudi market.

About Stamp: Founded by lawyers Muyasser Albar (LinkedIn) and Mohammed Zarea, the firm provides an AI-powered compliance platform connecting government systems with corporate registration, HR processes, and regulatory tasks through a unified dashboard. The platform operates on a freemium model that offers a basic dashboard and instant alerts.

Jana Medical, Morabaha Marina Financing tap new CEOs

Jana Medical appointed Ziyad Al Sulais (LinkedIn) as CEO, effective yesterday, following the resignation of Rassam bin Sultan Al Otaibi, it said in a disclosure to Tadawul. Al Sulais brings over 20 years of experience from working at international companies, the private and public sectors, primarily in the healthcare field.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

ALSO- Morabaha Marina Financing (MRNA) tapped Khalid bin Sulaiman Al Jasser as CEO, effective 1 December, following the termination of Yousef bin Abdullah Al Yousef’s assignment as acting CEO, it said in a disclosure to Tadawul. Al Jasser brings over 30 years of experience in banking and executive leadership, with a background in institutional transformation, corporate governance, and business development. He held senior roles at Bank Albilad, Arabian Centres Company, and Saudi Real Estate Company and served as chairman of STC Pay.

Crown Prince’s high-stakes White House diplomacy

Crown Prince Mohammed bin Salman’s White House visit is drawing international attention, with Bloomberg spotlighting the mix of high-profile announcements and lingering political hurdles shaping Saudi-US ties. With US politics shifting and skepticism in Congress still strong, the Crown Prince now faces the longer-term challenge of turning this high-visibility diplomatic moment into agreements that can last beyond Trump’s term.

Regional concerns are also surfacing, particularly in Israel, where officials are uneasy about Washington’s greenlighting weapons sales to Riyadh without progress on normalization. Former diplomats told the business news service that US President Donald Trump may ultimately link the Kingdom’s biggest asks — a binding defense pact and permission to enrich uranium on Saudi soil — to movement on ties with Israel.

Binyah secures early works agreement as Expo 2030 prep ramps up

CONSTRUCTION-

Binyah lands early work agreement for Expo 2030 Riyadh: Saudi Real Estate Company (Al Akaria) signed a four-year framework agreement with Expo 2030 Riyadh Company to have its subsidiary Saudi Real Estate Infrastructure (Binyah) carry out early works for the Expo 2030 Riyadh site, it said in a disclosure to Tadawul. The agreement covers demolition, earthworks, and various logistics activities needed to prepare the site. The financial impact will be determined later based on the assigned tasks, according to the disclosure.

IN CONTEXT- The Kingdom has officially begun preparations for Expo 2030 Riyadh after receiving the Bureau International des Expositions (BIE) host flag from Expo 2025 Osaka last month. The USD 8 bn, six-month event will open on 1 October 2030, drawing an estimated 42 mn visitors and contributing USD 64 bn to the Kingdom’s GDP during development, with an additional USD 5.6 bn while operational.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

M&A WATCH-

Tibbiyah snaps up stake in Nephrocare: Arabian International Healthcare Holding Company (Tibbiyah) signed a conditional share purchase agreement to acquire 49% of Nephrocare Health Services Saudi Arabia Company for SAR 279.8k, funded from its own resources, it said in a disclosure to Tadawul. The agreement — subject to regulatory and commercial approvals — replaces plans to set up a new joint venture with NephroPlus.

FOOD-

Tanmiah Food inked three MoUs with Schneider Electric, Strataphy, and Kayes Arabia to accelerate the reduction of its carbon footprint, achieving greater energy performance in its operations, according to a press release yesterday. Under the Schneider agreement, Tanmiah will conduct a comprehensive carbon inventory assessment under the Science Based Targets initiative (SBTi), including FLAG guidance, while working to decarbonize its supply chain.

Meanwhile, working with Strataphy, the partnership will see the deployment of the region’s first geothermal-cooled poultry operation at the Shaqrah Facility, offering a scalable, low-carbon cooling solution under the cooling as a service (CaaS) model. The MoU with Kayes Arabia focuses on converting diesel-powered equipment at Tanmiah’s facilities to liquefied petroleum gas systems to achieve lower carbon emissions and reduced operational costs.

Is AI being built on dissolving tracks?

When it comes to AI, ignore the stock charts — the real story may be in the amortization schedules. Pundits who spent last week watching the red arrows on the Nasdaq (down 2.7% for the week) may have missed the real story: The sell-off was noise, when the signal is in the accounting.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

What we’re seeing now is the real-time collision between two fundamental views of the AI economy: The “deployment phase” optimists who see a productivity boom, and “capex realists” (think: Michael Burry) who see (at best) a hole in the balance sheet that revenue cannot (yet?) fill.

The bulls see a deployment dividend on the horizon. The New York Times has recently argued that the “hype cycle” is coming to an end and the “deployment cycle” has begun. The argument: AI is no longer a parlor trick — it’s starting to show up in GDP and output-per-hour data. Bulls claim we’re at the start of a structural shift comparable to electrification or the internet — but happening at 2x the speed.

The evidence: The cost of adoption is stabilizing while the efficiency dividend widens, suggesting the path to profitability is clearer than the market thinks.

The bears see a capex treadmill — and maybe some hinky accounting. There’s a flaw in the Internet 2.0 analogy, and it’s in the physics of the infrastructure. When the Dotcom bubble burst, it left behind mns of km of “dark fiber” — assets with a >20-year useful life that powered the internet for decades at near-zero incremental cost.

The catch: Today’s AI boom is built on silicon, not glass — and GPUs have short lifespans. Unlike fiber, GPUs are depreciating assets with “frontier lifespans” of roughly 3-4 years before energy efficiency gains make them economically obsolete.

The accounting hijinks: Hyperscalers like Microsoft and Google have quietly extended their server depreciation schedules to 5-6 years to protect current earnings. If the hardware becomes obsolete in three years, those earnings are a mirage.

The “re-buy” problem: As Sequoia’s David Cahn noted last year, the industry isn’t just building a railroad — it’s building a railroad where the tracks dissolve every 48 months. To stay in the game, Big Tech must re-spend its capex budget in perpetuity.

Famed contrarian Michael Burry (of The Big Short fame) has reportedly placed a USD 1.1bn wager against Nvidia and Palantir, warning that the sector is sleepwalking into a crash. His argument mirrors the depreciation thesis: He accuses hyperscalers of inflating earnings by artificially extending the “useful life” of their servers — a “depreciation trick” that boosts profits on paper while the hardware rots in reality.

The bottom line: If the Times is right, the revenue arrives just in time to pay for the next generation of chips. If it’s wrong, we aren't looking at a bubble, but at the most expensive depreciation write-down in corporate history.

MARKETS THIS MORNING-

Asian markets are mixed in early trading this morning, with both the Hang Seng and Kospi up 1.1% and the Shanghai Composite down 0.2%. Meanwhile, Japan’s Nikkei is closed in observance of Labor Thanksgiving Day.

TASI	11,011	0.0% (YTD: -8.5%)
MSCI Tadawul 30	1,439	+0.3% (YTD: -4.7%)
NomuC	24,130	+0.2% (YTD: -23.3%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.5% repo	4.0% reverse repo
EGX30	40,446	+0.4% (YTD: +36.0%)
ADX	9,795	-0.9% (YTD: +4.0%)
DFM	5,836	-1.3% (YTD: +13.1%)
S&P 500	6,603	+1.0% (YTD: +12.3%)
FTSE 100	9,540	+0.1% (YTD: +16.7%)
Euro Stoxx 50	5,515	-1.0% (YTD: +12.7%)
Brent crude	USD 62.27	-0.5%
Natural gas (Nymex)	USD 4.48	-2.1%
Gold	USD 4,096	-0.5%
BTC	USD 86,236	+1.5% (YTD: -7.7%)
Sukuk/bond market index	918.28	+0.07% (YTD: +1.79%)
S&P MENA Bond & Sukuk	152.18	+0.1% (YTD: +8.8%)
VIX (Volatility Index)	23.43	-11.3% (YTD: +35.0%)

THE CLOSING BELL: TADAWUL-

The TASI closed flat yesterday on turnover of SAR 2 bn. The index is down 8.5% YTD.

In the green: Naseej (+5.3%), Equipment House (+3.7%) and Maaden (+3.3%).

In the red: Takween (-4.7%), Oasis (-4.0%) and United Cooperative Assurance (-3.8%).

THE CLOSING BELL: NOMU-

The NomuC went up 0.2% yesterday on turnover of SAR 26.4 mn. The index fell 23.3% YTD.

In the green: Tharwah (+10.0%), Rawasi (+9.7%) and Hedab AlKhaleej Trading (+9.1%).

In the red: Time (-7.1%), Al Babtain Food (-6.8%) and Naseej Tech (-6.0%).

CORPORATE ACTIONS-

Al Hasoob’s board greenlit the distribution of SAR 700k in dividends for 1H 2025 at SAR 0.25 apiece, the firm said in a Tadawul disclosure yesterday. The distribution is slated for 21 December 2025.

CALENDAR

NOVEMBER

20-29 November (Thursday-Saturday): Public school holiday.

23 November-26 February 2026:Title deed registration for 142.8k properties across 104 neighborhoods in Hail.

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

23-27 November (Sunday-Thursday): The UNIDO General Conference, King Abdulaziz International Conference Center, Riyadh.

30 November -11 December (Sunday-Thursday): The Absher Tuwaiq Hakathon (remote).

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

25-29 November (Tuesday-Saturday): General Aviation Airshow 2025 - Sand & Fun, Thumama Airport, Riyadh.

25-30 November (Tuesday-Sunday): World Rally Championship Saudi Arabia 2025, Jeddah.

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

27-29 November (Thursday-Saturday): F1H2O UIM World Championship, Grand Prix of Jeddah.

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

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

2-4 December (Tuesday-Thursday): Black Hat MEA, Riyadh Exhibition and Convention Center, Malham.

3-5 December (Wednesday-Friday): Beyond Profit Forum, Ritz-Carlton Hotel, 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.

11 December (Thursday): Public school holiday.

11-13 December (Thursday - Saturday): The Absher Tuwaiq Hakathon (in-person).

15-17 December (Monday-Wednesday): Host Arabia, Riyadh Front Exhibition and Conference Center.

15-17 December (Monday-Wednesday): Saudi HORECA, Riyadh Front Exhibition and Conference Center.

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

19 December (Friday): The 2025 Saudi Toyota Championship wraps up.

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

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): Title deed registration deadline for 54k properties in 77 neighborhoods across Riyadh, Makkah, and the Eastern Province.

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

10-18 January (Saturday-Sunday): Public school mid-year break.

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

15 January (Thursday): Title deed registration deadline for 31.7k properties in 14 neighborhoods in the Eastern Province.

15 January (Thursday): Title deed registration deadline for about 157.3k properties in 78 neighborhoods across the Eastern Province.

15 January (Thursday): Title deed registration deadline for about 41.7k properties across 115 neighborhoods in Riyadh, Qassim, and the Eastern Province.

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

26-27 January (Monday-Tuesday): SuperReturn Saudi Arabia, Hotel Fairmont, 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.

9-10 February (Monday-Tuesday): Global Games Show Riyadh 2026, Malf Hall, 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.

15-17 February (Sunday-Tuesday): The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh Front & Exhibition Center.

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.

3-9 May (Sunday-Sunday): The Global Sustainability Expo, The Arena Riyadh Venue.

JUNE

21-24 June (Sunday-Wednesday): Saudi Food Exhibition and Conference, Riyadh Front Expo.

SEPTEMBER

15-17 September (Tuesday-Thursday) The Global AI Summit, King Abdulaziz International Convention Center, Riyadh.

OCTOBER

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

Signposted to happen sometime in 2026:

November: 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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