Chinese-Saudi consortium plans 2 GW solar plant in the Kingdom

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WHAT WE’RE TRACKING TODAY

THIS MORNING: US State Dep’t confirms lifting weapons sale ban

Good morning, ladies and gentlemen. We have a busy issue for you this morning, leading with a USD 972 mn, 2 GW solar power plant that’s coming to Saudi, courtesy of a Saudi-Chinese consortium. But first…

** PROGRAMMING NOTE- EnterpriseAM Saudi is off tomorrow. Longtime readers of our other publications know that we take occasional holidays during the dog days of summer and toward year’s end to recharge our batteries. We’re taking a day tomorrow to enjoy some time with family and friends — we’ll see all of you back here on Sunday at our usual time.

THE BIG STORY AT HOME-

US State Department confirms lifting ban on weapons sales to Saudi: The Biden administration has lifted its three-year suspension on certain weapons sales to Riyadh, State Department spokesperson Vedant Patel confirmed in a press briefing on Monday. The decision came after Riyadh upheld its end of an agreement with Washington on scaling back its conflict with the Houthis in Yemen, Patel said, noting that the timing is not specifically linked to wider regional concerns like tensions with Iran or developments in Gaza. The story got digital ink in the Guardian and CNN.

PSAs-

Some 2.8k Ford F-150 vehicles are being recalled over manufacturing defects in the automatic transmission sensor that may lead to sudden deceleration in vehicle’s speed while driving, the Commerce Ministry said in a post on X. The vehicles are from the 2014 model year. You can tell if your vehicle is affected by going to recalls.sa and typing in your VIN number. Distributors Al Jazirah Vehicles Agencies Company and Mohammed Yousuf Naghi will set things right without charge.

This recall follows a similar move on other vehicles from two weeks ago, which affected 13k Toyota and Land Cruisers and Lexus LX600 and LX500 SUVs.

⚠️WEATHER- Today will bring similar weather to yesterday for residents of Jazan, Asir, and Hail with more heavy rain and strong winds expected. Be sure to keep your waterproof gear handy and stay safe. Meanwhile, Riyadh’s mercury will peak at 44°C, before dropping to a low of 31°C, and Makkah wil see a high of 42°C and a low of 29°C.

WATCH THIS SPACE-

#1- Tadawul resumes trading on three companies’ shares: Trading on the shares of Development Works Food Company, Saudi Industrial Export Company, and Nayifat Financing Company resumed yesterday, after being suspended on Monday due to their failure to meet the deadline for disclosing 1H 2024 results, according to a Tadawul statement. Trading on the companies’ shares will be suspended again if they fail to publish the disclosures before market close on Monday, 9 September, and will resume once the results are published.

You can find here the deadlines for financial disclosures of Tadawul and Nomu- listed companies. Deadlines are based on the start and end dates of each company’s financial year. Nomu-listed companies are only required to publish 1H and full-year results.

#2- Sudanese peace talks in Geneva today: US Special Envoy Tom Perriello confirmed that negotiations to end Sudan's 16-month conflict will proceed despite limited signs of commitment from either the Sudanese army or the Rapid Support Forces (RSF), Reuters writes. The Swiss-hosted talks, scheduled to start today and potentially extending to 24 August, will include observers from the African Union, Egypt, UAE, and the UN, with the location undisclosed for security reasons, Bloomberg reports.

DATA POINTS-

#1- The Kingdom imported over SAR 116 mn worth of aromatic oils during the first five months of 2024, while exports during the period came in at SAR 9.2 mn, Aleqtisadiah reports, citing Commerce Ministry data. In 2023, aromatic oil imports totaled SAR 329 mn, while exports came in at 15 mn. The high level of local demand was reflected in the launch of 423 new companies in the local sector in the first half of this year.

#2- The Saudi Export-Import Bank provided SAR 16.3 bn in credit facilities in 1H 2024, up 128% y-o-y, it said in a post on X. Some SAR 9.2 bn of that figure went to export ins., while the balance was allocated to export financing.

#3- The Real Estate General Authority (Rega) has registered 250k properties on its Real Estate Registry platform (RER) across Riyadh, Makkah, Dammam, Madinah, and Buraidah, since the platform was launched in May 2023, Rega said in a statement. The RER aims to establish a real estate registry across the Kingdom to make it easier for individuals and corporations to know who has a clear title to a property when buying or selling.

REMEMBER- Property owners in 11 neighborhoods in Riyadh have until Thursday, 31 October to register their assets with the RER.

#4- Hail has so far put 36 investment projects up for grabs on the Furas platform in 3Q 2024, according to state news agency SPA.

OIL WATCH-

Global oil markets, currently facing a deficit on the back of high summer demand, could shift to a surplus in the next quarter if Opec+ follows through with its plan to boost supplies in October, Bloomberg reports citing an International Energy Agency (IEA) report. Oil inventories dipped in June by 26.2 mn barrels a day (bbl / d) on the back of increased summer demand.

Demand is covered for next year: Even if the Opec+ cuts stay in place, oil inventories could gain an average 860k bbl / d next year on the back of non-Opec+ supply, the report said.

REMEMBER- The oil carter agreed to begin phasing out production cuts this fall at a June meeting in Riyadh, but said it could pause or reverse this decision depending on market conditions. A decision on this could come within a few weeks, Bloomberg said.

The next checkpoint: The group is scheduled to meet again on Sunday, 1 December 2024.

SPORTS-

Roma’s Paulo Dybala is reportedly the latest player to have rejected a move to the Saudi Pro League, turning down a what is said to be EUR 20 mn per season offer from Al Qadsiah, according to Roma Press. Dybala’s decision follows similar rejections by Vinicius Jr and Richarlison de Andrade earlier this month.

Al Ahli is mulling Brentford’s Ivan Toney: The Brentford striker is emerging as an option for Saudi clubs, especially Al Ahli which has been keen since last January, with the player yet to make a decision on moving to Saudi, sports journalist Fabrizio Romano said on X. The 28-year-old broke into the England national team recently — representing them for the Euros — after a career mostly spent in England’s lower football league tiers.

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THE BIG STORY ABROAD-

It’s a busy day in the international business press this morning, giving us a mix of business and political headlines.

FIRST UP- Starbucks has replaced its CEO, Laxman Narasimhan, a year and a half into his tenure after facing pressure to make changes in the business from activist investor Elliott Management and former CEO Howard Schultz. The coffee chain has tapped Brian Niccol — currently Chipotle’s chief executive — as its new CEO to execute a turnaround strategy after the business suffered falling sales this year and its shares have faltered. During his tenure at Chipotle since 2018, Niccol has helped lead the company’s revamped performance, driving sales up and leading its shares to rise more than threefold.

MARKET REAX- Starbucks’ shares closed up 24.5% yesterday, while Chipotle’s shares fell 7.5%. (Reuters | Financial Times | Wall Street Journal | Bloomberg)

Ukraine is pushing forward with a significant cross-border advance into Russia’s Kursk region, where it surprised Russia last week to land “its biggest battlefield gains since 2022.” Ukrainian soldiers have captured an unspecified number of Russian troops, which Kyiv says can be exchanged for Ukrainian prisoners. Russia has also reportedly withdrawn some of its forces from Ukraine, although it remains unclear how many or where they will be repositioned. (Washington Post | Reuters | Wall Street Journal | New York Times)

AND- Hamas may not participate in tomorrow’s ceasefire negotiations, brokered by Qatar and Egypt, with a senior official from the group saying that Israel’s approach to the talks is hampering progress. Benjamin Netanyahu has reportedly “quietly made new demands in recent weeks, additions his own negotiators fear have created extra obstacles to [an agreement],” according to the New York Times.

CIRCLE YOUR CALENDAR-

The National Events Center will host a series of event-tech workshops on the investment landscape of the events sector, according to state news agency SPA. The events will run for four days starting on Sunday, 18 August.

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

Cybersecurity training event SANS Riyadh Cyber Leaders August 2024 will run from Sunday, 18 August to Thursday, 22 August at the Hyatt Regency Riyadh Olaya.

The New Global Sport Conference 2024 is happening on Saturday and Sunday, 24-25 August, bringing together top figures from sports, esports, gaming, entertainment, and technology. This year’s theme is the Future of Fandom, highlighting fans’ role in building brand equity and revenue.

The eight-week Esports World Cup runs until Sunday, 25 August Riyadh’s Boulevard City. The world’s top esports clubs are competing for a pool of USD 60 mn — the largest purse in esports.

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

China-KSA consortium earmarks USD 972 mn for a new 2 GW solar power plant

Saudi is getting a new 2 GW solar power plant: China Energy Engineering has signed a USD 972 mn contract to build a 2 GW solar power plant, Reuters reports, citing a filing to the Shanghai Stock Exchange earlier this week.

Details are scant: The plant will be built under a JV between a China Energy Engineering consortium and the Public Investment Fund (PIF), Acwa Power, and Saudi Aramco Power Company. Construction is expected to take 31 months, according to the filing.

Chinese-Saudi investments are heating up: The agreement comes just weeks after officials from Saudi and China discussed increasing trade and investment between the two countries. PIF inked MoUs worth up to USD 50 bn with six major Chinese banks to boost investments in the Kingdom earlier this month, and signed three separate agreements with major Chinese producers last month to localize the manufacturing of wind and solar power generation components worth USD 3 bn.

China Energy is already working in the region: Acwa Power signed an engineering, procurement and construction agreement with the company for its 400 MW solar energy project in Tashkent last year, and another agreement to co-develop Central Asia’s largest wind turbine. The Chinese firm also signed a framework agreement with Egypt’s Suez Canal Economic Zone for its USD 6.75 bn green hydrogen plant which will generate 210k ton of green hydrogen annually. The company also inked an agreement with Morocco’s Gaia Energy and Saudi Arabia’s Ajlan & Bros to jointly build a green hydrogen production facility in Morocco back in 2023.

IN CONTEXT- Business activity between Saudi and China has been ramping up, after officials from the two countries discussed increasing trade and investment last month. This was followed with the PIF forming three renewable energy JVs with major Chinese players worth USD 3 bn, and also inking MoUs worth up to USD 50 bn with major Chinese banks. The government is also taking steps to deepen our relationship with China even as we wait for news of a series of agreements with the US on security, nuclear power, and advanced technologies. We have background here.

Cenomi Centers is the latest addition to the MSCI Saudi Arabia Small Cap Index

Global index builder Morgan Stanley Capital International (better known as MSCI) has published its latest reshuffle of international equity indices, upgrading some Kingdom-based companies and listing others for the first time. Changes will take effect as of the close of Friday, 30 August, MSCI said in a statement (pdf).

Al Rajhi Cooperative Ins. got an upgrade: The company stepped up to the MSCI Global Standard Index (pdf), moving up from the Saudi Arabia Small Cap Index (pdf) and the GCC Small Cap Index (pdf).

Our friends at Cenomi Centers made their debut on the MSCI Saudi Arabia Small Cap Index which tracks regional small cap stocks, according to the latest MSCI GCC countries MSCI domestic small cap indexes (pdf). Modern Mills for Food Products was also added to the small cap indexes for the first time.

SOUND SMART- MSCI indexes are widely used by investors, portfolio managers, and financial advisors to track equity and fixed-income markets across different regions.

Why it matters: While getting added to the MSCI indexes attracts investor attention to the company’s stocks, being excluded isn’t necessarily a sign for concern given that it could be based on not meeting specific index criteria, including a change to the company’s structure, among other things.

Riyadh might be getting a new SAR 2 bn multi-use tower

Egypt’s Concrete Plus eyes SAR 2 bn multi-use real estate project in Riyadh: Egypt-based construction, engineering, and contracting company Concrete Plus is partnering with local outfit Zahran Holding on the construction of a SAR 2 bn multi-use tower in Riyadh, Concrete Plus CEO Tarek Youssef told Asharq Bloomberg. The tower will include hotel, administrative, and commercial units.

Where things stand: The two companies are expected to sign a definitive agreement this quarter, Youssef said. It remains unclear whether a land plot for the project has been acquired or what the projected timeline for construction is.

Egyptian real estate players are flocking to Saudi to capitalize on the local real estate boom: Egypt’s Talaat Moustafa Group (TMG) kicked off a real estate project in Riyadh in May, hitting SAR 3.3 bn in sales up until late last month. Our friends at Hassan Allam Construction Saudi were also awarded a contract late last month to develop Port of NEOM’s Container Terminal 1 and a related marine services area among a slew of other undertakings in the Kingdom.

IN OTHER REAL ESTATE NEWS-

Saudi Fransi Capital’s Bonyan REIT Fund has acquired a SAR 225 mn 233-floor office tower in Riyadh, which it had funded with Shariah-compliant credit facilities, according to a disclosure to Tadawul.

Banque Saudi Fransi debuts sukuk offering under its SAR 8 bn program

Banque Saudi Fransi (BSF) has kicked off the offering for an additional Tier 1 SAR-denominated sukuk under its SAR 8 bn sukuk program, according to a disclosure to Tadawul. BSF announced its intention to proceed with the offering earlier this week.

The details: The subscription period for institutional and qualified investors started yesterday and will run until Monday, 26 August, with minimum subscription set at SAR 1 mn. Early redemption is possible under certain circumstances.

Where will the funds go? Proceeds from the offering are earmarked for shoring up BSF’s capital base, the bank said earlier this week.

ADVISORS- Saudi Fransi Capital is the sole bookrunner, lead arranger and lead manager on the issuance.

Saudi startups secured more funding in July compared to the previous month

Saudi startups raised a combined USD 31 mn across seven transactions in July, up from USD 13.5 in the previous month, putting the Kingdom in fourth place in the MENA region in terms of the size of funds raised, according to data compiled by Wamda and Digital Digest.

Startups that landed funding in July: Deep-tech AI company Intelmatix closed a USD 20 mn series A funding round last month, while fintech startup TechMal raised USD 1 mn in a pre-seed investment round, and shipping management platform Oto closed a USD 8 mn series A round. These rounds add to a total of USD 29 mn, leaving some USD 2 mn unaccounted for.

The regional view: Total funds raised by some 38 MENA startups rose 260% y-o-y to USD 355 mn last month, a 206% m-o-m hike. Egypt ranked first with USD 185 mn across 7 transactions, followed by UAE raising a combined USD 96 mn across 12 transactions, and Oman reeling in USD 37 mn through a single transaction by a carbon capture startup (44.01). In June, UAE came first, followed by Egypt, Saudi Arabia, and Kuwait.

Investors are bullish on tech: Fintech reeled in the most investments during the month at USD 180.8 mn with the sector maintaining its position as the most appealing to investors, followed by Web 3 (USD 85 mn), cleantech (USD 37 mn), deeptech (USD 20 mn), and e-commerce (USD 15.7 mn).

Gov’t extends waiver of fees on expats in the industrial sector

Cabinet agreed to extend its waiver for fees imposed on expat workers in the industrial sector during its weekly meeting yesterday, according to state news agency SPA. The waiver will be extended for three months and will now expire on 31 December, 2024. The initial waiver period was set to expire this October.

Background: The government decided in 2019 to “bear the cost of fees for expatriate workers on behalf of licensed industrial institutions” for a five-year period, with the waiver coming into effect on 1 October of that year. Prior to the introduction of the waiver, the government had imposed fees on expatriates working in the industrial sector — a cornerstone of the economy — to support its Saudization drive.

The cabinet also approved the following decisions in its weekly meeting yesterday:

A mutual short-term residence visa exemption for holders of diplomatic and special passports with Uzbekistan;
An MoU on cultural cooperation with China;
An MoU on Judicial cooperation with Hong Kong;
An MoU on road safety and maintenance with Bahrain;
An MoU on tourism with Switzerland;
An MoU on tackling crime, terrorism, and money laundering with Yemen;
An MoU on political consultations with Luxembourg;
An MoU for mineral resources cooperation with Ethiopia and Austria;
An MoU for direct investment with Georgia;
An MoU on technical and vocational training with Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC);
Extending the state’s financial support for expatriate workers in industrial facilities until the end of 2025.

Zain taps Saad Al-Sadhan as acting CEO

Telecoms operator Zain KSA has tapped Saad Bin Abdulrahman Al Sadhan as acting CEO following the death of its former CEO Sultan bin Abdulaziz Al Dughaither, it said in a filing to Tadawul. Al Sadhan (LinkedIn) was previously chief business and wholesale officer at Zain KSA.

Tourism Enterprise (Shams) has appointed Abdullah bin Omar Al Suwailem as its new CEO, it said in a disclosure to Tadawul. Al Suwailem will also continue to hold the roles of vice chairman and managing director.

Man Industries to invest USD 72 mn in new line pipes + coating factory

MANUFACTURING-

#1- Indian steel pipe manufacturer Man Industries plans to invest USD 72 mn to establish a new factory in Dammam for line pipes and coating, with a production capacity of 400-500k tons, Zawya reports. The company’s current production capacity stands at 1.1 mn tons.

#2- PIF-owned Saudi Recycling Company (Sirc) has exported recycled plastic flakes to an undisclosed UK manufacturer of recycled plastic bottles, it said in a post on X. This is the company’s second destination for recycled plastic exports after tapping the Spanish market earlier this year.

M&A WATCH-

Gulf General Cooperative Ins. appointed Alinma Investment as its financial advisor for its potential merger with Gulf Union Al Ahlia Cooperative Ins., according to a disclosure to Tadawul.

OIL & GAS-

China Offshore Oil Engineering (COOEC) completed a 24-storey offshore oil and gas platform, set to be transported to the Marjan oil field — one of Aramco’s key fields off Saudi’s eastern coast — at the end of August, South China Monitoring Post citing a state media report. The platform is expected to deliver 24 mn tonnes of crude oil and 7.4 bn m3 of gas annually.

INFRASTRUCTURE-

Jubail 3B desalination plant enters commercial operations: Saudi Water Partnership Company (SWPC) began operating its SAR 2.6 bn (USD 692 mn) solar-powered Jubail 3B Independent Water Desalination Project, according to a statement. The plant was developed by a consortium led by France’s Engie, along with Saudi’s Nesma Co and Ajlan & Bros. The Jubail 3B plant will use reverse osmosis technology to produce 570k cbm of potable water daily to provide water to 2 mn people in Riyadh and Qassim, Trade Arabia wrote.

AUTOMOTIVE-

Lucid Group has launched its second auto sales and service center in Saudi Arabia in Jeddah Auto Mall, according to a statement picked up by Zawya. Lucid Studios are integrated, full-service facilities that offer repair, maintenance, and charging services, as well as auto sales.

A recap of the MENA region’s IPO activity over the last quarter

MENA IPO activity raised some USD 2.6 bn last quarter: IPO proceeds in the MENA region climbed 45.3% y-o-y to USD 2.64 bn in 2Q 2024 as IPO activity was buoyed by increased liquidity spurred by higher oil prices and positive market sentiment, according to an EY press release dissecting its MENA IPO Eye report. The proceeds were raised across 14 listings — up from the 13 listings regional bourses saw in the same period last year — in Saudi Arabia, UAE, and Kuwait.

KSA captured some 60% of the pie: Eleven out of the 14 listings that took place in the region during the quarter were in Saudi Arabia. The listing raised a combined USD 1.6 bn — c. 60% of the region’s proceeds from IPO activity. The IPO of Fakeeh Care Group raised the lion’s share with USD 764 mn, followed by Saudi Manpower Solutions Company (SMASCO) at USD 240 mn and Rasan Information Technology Company at USD 224 mn. Five companies — including the top three contributors — listed on the Tadawul main market, while the other six IPOed on Nomu.

The UAE came in second: The UAE saw two IPOs over the last quarter — Alef Education Consultancy and Spinneys raised a combined USD 890 mn from their IPOs after listing on the Abu Dhabi Securities Exchange and the Dubai Financial Market, respectively.

Kuwait saw its first listing following a dry spell: Kuwait’s Beyout Investment Group raised USD 147 mn from taking a 30% stake to the Kuwait Stock Exchange in June, marking the country’s first IPO since 2019.

Where are they now? “Eight out of the 14 MENA IPOs listed in Q2 2024 had shown a positive return as of the 30 June share price in comparison with their IPO price, with [the Saudi] Miahona Company achieving the highest gain of 90.4% within the period,” the release said.

Remember- The Kingdom also accounted for the lion’s share of IPO proceeds in the GCC in 1H 2024, raising USD 2.1 bn or 59% of the bloc’s total.

MARKETS THIS MORNING-

Asian markets are mixed in early trading this morning, with the Nikkei and Kospi up and the Hang Seng and Shanghai Composite in the red. Futures for major US equities benchmarks were mostly unchanged overnight.

TASI	11,797	+0.5% (YTD: -1.4%)
MSCI Tadawul 30	1,479	+0.2% (YTD: -4.7%)
NomuC	25,365	+0.3% (YTD: +3.4%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	6.5% repo	5.5% reverse repo
EGX30	29,331	-1.3% (YTD: +17.8%)
ADX	9,175	-0.4% (YTD: -4.2%)
DFM	4,185	-0.4% (YTD: +3.1%)
S&P 500	5,434	+1.7% (YTD: +13.9%)
FTSE 100	8,235	+0.3% (YTD: +6.5%)
Euro Stoxx 50	4,695	+0.5% (YTD: +3.8%)
Brent crude	USD 80.69	-2.0%
Natural gas (Nymex)	USD 2.15	+0.3%
Gold	USD 2,506	-0.1%
BTC	USD 60,985	+3.4% (YTD: +44.4%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.5% yesterday on turnover of SAR 5.5 bn. The index is down 1.4% YTD.

In the green: Chubb (+10.0%), SGS (+9.9%) and Ayyan (+8.9%).

In the red: Saudi Kayan (-2.7%), SIECO (-2.5%) and Nayifat (-2.5%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.3% yesterday on turnover of SAR 41 mn. The index is up 3.4% YTD.

In the green: Mobi Industry (+11.2%), Al Hasoob (+10.0%) and Al Qemam (+9.6%).

In the red: Tadweer (-9.9%), Pan Gulf (-9.3%) and Al Muneef (-6.7%)

CALENDAR

AUGUST

4 July-25 August: (Thursday-Sunday): Esports World Cup, Boulevard Riyadh City, Riyadh.

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

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

18 August (Sunday): New academic year begins.

18-22 August (Sunday-Thursday): SANS Riyadh Cyber Leaders August 2024, Hyatt Regency Riyadh Olaya.

24-25 August (Saturday-Sunday): New Global Sport Conference 2024 (NGSC24), Four Seasons Hotel Riyadh.

27-29 August (Tuesday-Thursday): Saudi Fashiontex Expo, Riyadh.

SEPTEMBER

2-4 September (Monday-Wednesday): Saudi Warehousing & Logistics Expo, Riyadh.

2-4 September (Monday-Wednesday): Saudi Wood Expo, Riyadh.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

OCTOBER

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

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

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

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

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

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

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

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

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

NOVEMBER

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

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

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

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

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

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

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

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

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

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

DECEMBER

1 December (Sunday): Opec+ to meet.

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

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

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

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

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

Signposted to happen sometime in 2024:

The AFC Champions League Elite

2025

JANUARY 2025

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

FEBRUARY 2025

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

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

JUNE 2025

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

2026

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

2027

The World Water Forum takes place in Riyadh.

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