Developers double down on Syria and Makkah

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WHAT WE’RE TRACKING TODAY

Neom pays a hefty price for terminating contracts

Good morning, friends, and happy Tuesday. Saudi capital is fanning out across the region and at home this morning, even with the Iran-Israel conflict keeping everyone on edge. Abyat is rolling out a USD 2 bn housing project in Damascus, Alrajhi is adding another mega-redevelopment in Makkah, and the Sports Ministry just put five more football clubs on the block.

ALSO- The property market is wrestling with a supply problem CBRE says won’t ease anytime soon, from full-to-bursting Riyadh offices to a shortage of modern warehouse space. Over in dealmaking, local unicorn Ninja is reportedly circling Delivery Hero’s Middle East portfolio.

BUT FIRST- A reminder of the backdrop: Al Kharj residents were briefly told to seek shelter on Sunday after the Civil Defense triggered an emergency alert via the National Early Warning Platform. The moment quickly passed, however, with a follow-up broadcast announcing shortly after that the threat had been cleared.

The Defense Ministry confirmed that the missile was launched from Yemen and targeted a country in the region, but suffered a malfunction and veered off course. It crashed in an empty area near the Saudi-Yemeni border. Reports that the missile targeted Prince Sultan Air Base are false, the ministry said.

The cost of walking away

Neom reportedly plans to spend more on canceling contracts over the next five years than on new works. The project’s 2026-2030 budget includes SAR 60 bn (USD 16 bn) for contractor termination payouts and penalty clauses, unnamed sources told Semafor. Spending on new infrastructure will reach SAR 40 bn, mainly earmarked for Oxagon’s industrial city and utilities. Neom did not respond to our requests for comment as of this writing.

Why this matters: It’s a strategic retreat toward projects that can deliver immediate foreign investment. The cancellation costs represent over a third of the projected 2026 budget deficit, put at SAR 165.4 bn early in the year. 1Q’s budget deficit already neared this number, standing at SAR 125.7 bn.

REMEMBER- The government has been scrapping a few Neom-gigaproject-related contracts following a comprehensive review after years of delays, design challenges, and cost overruns. Scrapped projects include multi-bn-USD contracts to build a freshwater lake at Trojena and a USD 1 bn tunneling contract at Neom’s The Line.

Is LIV Golf’s funding drying up?

The Public Investment Fund’s remaining LIV Golf funding may not be enough to cover the 2026 season in full, Front Office Sports reports. The league’s cancellation of its New Orleans tournament and the 47-day gap until its next scheduled event reportedly raised concerns about the stability of the calendar and the durability of the fund’s backing.

What’s the situation now? LIV currently receives funding from the PIF every month and is still operating on the assumption that those payments will continue through the season, an unnamed league source told the news outlet. CEO Scott O’Neill said the league has begun reaching out to prospective partners as it looks to attract new investments.

The league is gearing up for its revamped LIV 2.0 model, which could reportedly involve fewer events, a stronger emphasis on team majors, and lower prizes than the current USD 32.3 mn level. It’s also tightening its financials, monitoring travel spending, and ending costly app features.

ICYMI- The PIF pulled the plug on the breakaway golf league it bankrolled for four years, as it no longer matches its investment strategy, after its total commitment amounted to USD 5 bn back in December. LIV Golf was reportedly exploring a US bankruptcy filing as a worst-case scenario if its search for new capital falls short.

Gulf airlines losing altitude?

Middle Eastern airlines are expected to swing to a collective USD 4.3 bn loss in 2026 — making the region’s airline market the only one expected to slip into the red this year, according to the IATA.

The downturn reflects pressure across the entire operating chain — airspace closures, flight cancellations, longer routings, weaker connecting traffic, and sharply higher fuel costs. IATA expects regional passenger demand to decline 11.4%, while capacity is projected to contract 4.4%.

Gulf carriers depend heavily on east-west transfer flows through Dubai, Doha, and Abu Dhabi, which makes lost connectivity more expensive than a normal demand dip.

IN CONTEXT- Gulf carriers’ reliance on east-west transfer traffic through hubs such as Dubai, Doha, and Abu Dhabi means disruptions to connectivity can have an outsized impact on earnings. While that has created a near-term opening for rivals including IAG, Lufthansa, Air France-KLM, and Cathay Pacific on long-haul routes linking Asia and Africa, Bloomberg cites industry executives as saying that the shift in demand is likely to prove temporary as Emirates, Qatar Airways, and Etihad restore capacity and passengers return to their usual transit options.

Al Modawat gets closer to Tadawul

Al Modawat Specialized Medical Co. tapped Deloitte’s audit and assurance arm Deloitte & Touche to provide financial due diligence services as it prepares to migrate its shares to Tadawul from parallel market Nomu, according to a disclosure.

REMEMBER- The company announced its plans to transition to the main market in June last year after listing on Nomu back in 2024 with a 20% stake. It previously tapped Estidamah Capital as a financial advisor to manage the move to Tadawul.

From Russia with love

Saudi Arabia and Russia have signed 13 agreements and MoUs totalling SAR 4.8 bn to strengthen the Kingdom’s food security and boost localization, the Saudi Press Agency reports. The agreements cover the localization of veterinary vaccines, securing livestock feed, and the export of Saudi fish, camel milk, and coffee.

Earlier this week, Saudi Arabia and Russia set a target of USD 1.46 bn in Russian investments over the next five years. Bilateral trade is projected to reach USD 12 bn over the period, a significant increase from the USD 3.9 bn recorded between 2022 and 2026.

Data point

1.95 mn — that’s the number of vehicles Saudi Arabia imported over 2024/2025, according to data from the Zakat, Tax, and Customs Authority cited by Saudi Gazette. The Kingdom maintains its position in the top 20 automotive markets globally.

You’ve spent decades building wealth, and the question now isn’t how to make money — it’s how to make sure it survives you, works across borders, and doesn’t quietly erode while you’re not looking. The rules have changed. Egyptian real estate, once a near-guaranteed store of value, is competing with markets in Greece, Spain, and Dubai.

Whether it’s art as an asset, crowd-funding, or the tax implications quietly stacking up behind that second passport, the toolkit for serious capital deployment has expanded faster than most conventional advice — or most advisors — have.

In Issue 3 of EnterpriseAM Money Matters, we cover the decisions that matter most when you’re at the stage where capital preservation is just as important as capital growth — and where getting it wrong is no longer something you can simply recover from.

Tap or click here to subscribe to the Egypt edition, delivered to your inbox on Wednesday, 10 June.

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The big story abroad

Regional tensions have eased after Iran and Israel said attacks will stop for now, but both countries warned that they are ready to launch retaliatory attacks if provoked. Israeli Prime Minister Benjamin Netanyahu said that Tel Aviv’s operations against Iranian-backed Hezbollah will continue.

SpaceX’s upcoming IPO continues to make headlines, becoming heavily oversubscribed as institutional investors place USD 10 bn worth of orders. The IPO is set to price on 11 June and start trading the following session.

Another anticipated IPO is making waves: OpenAI has confidentially filed for an IPO with the Securities and Exchange Commission. The company is yet to decide on a timetable for the listing, but unnamed sources have said the company could go public as soon as this fall.

Introducing Siri AI: Apple has unveiled a new phase for its voice assistant Siri, overhauling the program with AI, steering it closer to chatbots like OpenAI’s ChatGPT or Anthropic’s Claude. The tech giant says its commitment to privacy and data protection is key in differentiating its AI offerings from its rivals. A beta version will be available next month before a full launch in the fall.

Meanwhile, in Washington: A judge has ruled as unlawful an attempt by the Trump administration to levy a USD 100k fee on H-1B visa applications — widely used by tech companies and specialized industries to hire foreign workers. The Department of Justice is expected to appeal the decision.

Chinese firms in the hot seat: The Pentagon has accused three Chinese firms — Alibaba Group, BYD, and Baidu — of aiding China’s armed forces. The companies have been listed as “Chinese military companies” that pose a national security risk to the US.

Syria rebuild, Makkah redevelopment

Saudi capital is finding new homes in both reconstruction and redevelopment projects, as developers launch major housing schemes in Syria and take on another neighborhood regeneration project in Makkah.

A pair of projects in Syria

Abyat Real Estate launched two new developments in Damascus with combined investments exceeding USD 2 bn, according to state news agency Sana. Apartment subscriptions are expected to open within a month, pending final approvals, General manager Mohammed Al Solum told Alarabiya. The proceeds will be held in a joint escrow account between Syria’s Housing Establishment and the developer.

The details: Abyat Hills will be built in Damascus’ Qudsaya E3 suburb on a 379k sqm site and will include more than 2k residential units, with completion targeted within four years. The larger Modern Urban Cluster project will span 6 mn sqm in the Al Bajaa area and include around 20k units over an eight-year development period.

REMEMBER- Saudi companies have been steadily expanding into Syria since the Saudi-Syrian Investment Forum in July 2025, which saw SAR 24 bn in agreements signed, including SAR 7.2 bn in real estate. Momentum has continued since then, with around USD 6.4 bn worth of agreements moving forward in an investment roundtable in October across real estate, infrastructure, energy, and telecoms. Saudi firms have also taken on a diverse pipeline of projects tied to Syria’s reconstruction, pledging to drive bns of USD into the country over the next five years.

Our take: This is part of Riyadh’s new regional playbook. Rather than writing aid checks, the Kingdom is deploying Saudi companies into strategic sectors to secure an early commercial foothold in Syria while building long-term political and economic influence.

One more for Makkah’s redevelopment pipeline

AlRajhi takes on another Makkah redevelopment project: AlRajhi United Real Est ate is partnering with Maad International to redevelop Makkah’s Jarham South district, according to a post on LinkedIn. The development will cover more than 628k sqm and involve investments exceeding SAR 3.5 bn.

The details: The project falls under the Royal Commission for Makkah City’s (RCMC) Developed Districts Program (DDP) and will be financed through a real estate investment fund managed by a yet-to-be-named, CMA-licensed financial institution, Argaam reports. The redevelopment will include roads, water and sewage networks, electricity infrastructure, and telecommunications services.

ICYMI- AlRajhi is already involved in another Makkah redevelopment scheme through its partnership with Umm Al Qura for Development and Construction (Masar). That project covers the Hindawiya West and South sites, spans 1.2 mn sqm, and carries an initial estimated cost of SAR 6 bn. It is being executed through a closed-ended real estate fund and will extend the Masar destination through new infrastructure development.

The development pushes the DDP’s portfolio to over SAR 16.8 bn, after the RCMC rolled out SAR 13.3 bn worth of projects last week. They included Ladun and Al Ayuni’s Khalidiyah SAR 6 bn informal settlement redevelopment project and Dar Al Majd and First Avenue’s SAR 2 bn East Hindawiya development.

For sale

The Kingdom is putting more of its football on the market. The Sports Ministry and the National Centre for Privatization & PPP (NCP) opened bidding on five more clubs, including Al Riyadh, Al Fateh, Abha, Al Tai, and Al Shoulla, the ministry said in a statement seen by EnterpriseAM. Investors have until 5 July to file prequalification applications under the Sports Clubs Investment and Privatization Project.

A spread across the divisions: Al Riyadh, Abha, and Ahsa-based Al Fateh play in the Saudi Pro League, while Hail-based Al Tai sits in the First Division and Kharj’s Al Shoulla sits in the Second. All five cleared the regulatory steps and reached the “readiness stage” for offering, the ministry said, adding that it is matching each club’s readiness against the seriousness of would-be buyers rather than rushing clubs out the door.

The momentum is there: Expressions of interest (EOI) stay open on a rolling basis, and a deal takes 8-10 months to close once a buyer surfaces. More than 80 EOIs are now registered across 22 clubs, evidence of fast-building appetite from both local and international money, according to the ministry.

That tallies with what officials are telling investors abroad: The government has completed transactions on 11 clubs with two more in the works, Ibrahim AlMoaiqel, assistant deputy minister for investment and privatization, told the Middle East Sports Investment Forum in London last week.

Two transactions are close to the line: Negotiations over Al Najma and Al Akhdoud are underway, with contract signing and an ownership-transfer announcement to follow. The privatization of Al Akhdoud stalled last year after interested investors failed to meet the requirements.

More is coming: “We intend to bring more clubs to the market over the next few months,” AlMoaiqel said. His pitch to buyers is to get in early, likening the moment to the run-up to Major League Soccer’s value surge before the 2026 World Cup in North America. Saudi is looking to boost club valuations ahead of the 2034 World Cup by expanding commercial activity and deepening investment, creating attractive entry points for foreign investors while supporting broader economic growth.

REMEMBER- The model has shifted from spending to selling. Riyadh restructured the sector in 2023, folding its four biggest clubs (Al Hilal, Al Nassr, Al Ittihad, and Al Ahli) into companies that are majority-owned by the PIF, and bankrolling a wave of marquee signings. The fund agreed to offload 70% of Al Hilal to Prince Alwaleed bin Talal’s Kingdom Holding Company at an SAR 1.4 bn (USD 373 mn) enterprise value — its first sell-down, and the first club offered to a corporate buyer.

A note of caution: The sell-down is happening against a jittery regional backdrop, with the Iran war weighing on travel, tourism, and sentiment across the Gulf. Officials are working to reassure investors that the plan is intact. “Recent headlines have raised some questions about parts of the region, but the reality is headlines are very different from fundamentals,” AlMoaiqel said.

Supply, wanted

Supply constraints are the common theme across the real estate market in 1Q 2026. Office occupancy in Riyadh remains near full capacity, industrial rents are climbing amid a shortage of modern logistics space, and developers are racing to deliver new projects as occupiers increasingly prioritize quality, affordability, and operational standards.

The office crunch

Good luck finding an empty desk in Riyadh: Corporate space in the capital is virtually full, with Grade A office occupancy holding at 98% amid continued demand from multinational firms establishing regional headquarters in the capital, now numbering more than 780, according to CBRE’s 1Q Real Estate Market Review (pdf). Meanwhile, office rents in Riyadh were up 3.5% y-o-y. The demand profile is increasingly concentrated among technology companies, which accounted for 53% of new office requirements during the quarter.

Secondary markets pick up the slack: The premium supply squeeze is forcing tenants to look outside Riyadh. Jeddah’s Grade A occupancy holds a tight 94%, while Dammam's market has split into two halves. Top-tier assets in Dammam are operating at 91% occupancy, but older Grade B buildings are struggling to retain tenants due to a lack of modern infrastructure.

A slight easing is on the cards: Despite around 560k sqm of new office supply due this year and more than 1.5 mn sqm planned by 2028, CBRE MENA research head Matthew Green does not expect Riyadh’s office market to loosen significantly, he tells EnterpriseAM. While rental growth and occupancy are likely to moderate, they should remain “in a healthy range” due to continued demand from domestic occupiers and companies relocating under the RHQ program. “We have already seen the trend of aggressive growth start to moderate in recent quarters,” he says, adding that the trend is likely to continue as economic growth softens.

The bigger risk for developers may be execution. Rising construction material costs, higher transportation and ins. expenses, shipping disruptions, and longer delivery times for imported materials are all compressing development margins and increasing the risk of delays, Green says. Even so, projects completing over the next 12 months are still expected to enter a structurally undersupplied market.

Housing downsizes, rent surges

Trading the mansion for a studio: The residential sector is adjusting as 1Q transaction values dropped 4.5% y-o-y. High land costs and a cautious market have buyers walking away from large villas and opting for smaller high-liquidity apartments in the SAR 300k-500k range.

The trend is more than just financing conditions. “The increasing demand for apartments, particularly those in the more affordable space, likely reflects partly the point in the market cycle following a period of price growth,” he says. He also points to growing investor activity, with both domestic and foreign buyers increasingly targeting smaller, higher-yielding units as buy-to-lease investments. Developers, meanwhile, are expanding their focus on affordable apartment projects to appeal to younger buyers and first-time homeowners.

The rental market is faring better. Ejar lease contracts rose 37% in February, supported by growing numbers of professionals relocating under the RHQ program. While average rents in Riyadh declined 2.1% in March, Green attributes much of this to the September 2025 rent-freeze regulations which have primarily affected owners of existing leased assets. Landlords with legacy rent profiles “no longer have the ability to raise rents in line with the market” when contracts expire, he says. New projects, however, have enough flexibility to set rents at or above prevailing market levels before leasing begins.

In the industrial space

Shipping headaches make warehouses expensive: Maritime bottlenecks have forced cargo re-routing and squeezed logistics margins, but warehouse real estate isn’t slowing down. A lack of premium space, paired with government mandates to stockpile essential goods, has sent rents climbing. Warehouse spaces in Riyadh East saw a 21.8% y-o-y rent jump, while Jeddah East retained its position as the premium industrial corridor.

The shortage of modern industrial space has triggered a wave of partnerships aimed at accelerating development, Green says. He points to AG Logistics Partners — the joint venture between Artar and Germany’s Garbe Industrial — as well as the partnership between Saudi Aramco, DHL Supply Chain, and Arcapita to develop a 1.4 mn sqm logistics facility at Spark.

Retail clicks and staycation safety nets

Traditional malls are changing into entertainment hubs as online shopping gains ground, with digital transactions hitting 85% of total retail payments. Brick-and-mortar retail is surviving on local food, beverage, and fashion spending. While mall rents have remained steady, a wave of supply is still inbound when The Avenues and Westfield pipelines drop over 200k sqm of new retail and office space into Riyadh and Jeddah this year.

Looking ahead

The next challenge is operations, not construction. As the real estate market matures, tenant expectations around property management and maintenance are rising, particularly among government entities and multinational occupiers, Green says. With a wave of new supply due by 2030, “the winners and losers in the Saudi market are likely to be defined by those that can firstly deliver a high-quality product, but then also maintain that same level of quality standard and customer service through the operational phase of the asset,” he says.

The Ninja and the Hero

Local quick-commerce unicorn Ninja is reportedly weighing a bid for parts of Delivery Hero’s Middle East portfolio, including its Saudi unit HungerStation and a joint acquisition of Dubai-based Talabat, Financial Times reports, citing people familiar with the matter.

Stepping into the international scramble: Ninja entering the mix adds fresh pressure on Uber’s full takeover bid for Delivery Hero. DoorDash has also been circling the Middle East arm of the German-born delivery platform and major shareholder Prosus is considering a bigger stake, further complicating the deal landscape.

But Ninja’s founders bring history to the table. One of its founders, Ebrahim Al Jassim, helped establish HungerStation, while another, Canberk Donmez, previously held executive roles at Delivery Hero.

What sets Ninja apart: Ninja operates a network of dark stores dedicated to online retail, focusing on groceries and household essentials rather than restaurant food delivery, unlike Talabat, HungerStation, Uber, and DoorDash. Combining a restaurant network with Ninja’s existing dark store infrastructure would allow it to better utilize its logistics footprint around the clock.

But the valuation math is a bit hectic: Uber recently valued Delivery Hero at about EUR 12 bn when it upped its stake to 37% last month. Meanwhile unnamed sources argued a “sum of parts” breakup could be worth more than EUR 17 bn. Within that, the Middle East portfolio — including Talabat and HungerStation — is reportedly seen fetching around EUR 10 bn collectively by some Delivery Hero shareholders, with the group’s 80% stake in Talabat alone potentially valued at more than EUR 9 bn.

What’s next? Ninja is expected to prioritize HungerStation first due to simpler integration and fewer regulatory hurdles, with a proposal potentially coming as soon as this week, though discussions remain early and uncertain.

REMEMBER- Ninja is also preparing for a potential IPO that could raise USD 1 bn by late 2026 or early 2027, reportedly tapping Citigroup, Goldman Sachs, Riyad Capital, and UBS to advise on the move.

Aljazira Bank redeems USD 500 mn sukuk

Aljazira Bank is redeeming its USD 500 mn Tier 1 Capital Sukuk at 100% of issue price on 29 June, five years after the certificates were issued, according to a Tadawul disclosure. The transaction will cover all 2.5k units issued and has already received regulatory approval.

The move follows its return to local debt markets in March, when it raised up to SAR 1.5 bn in a private placement of SAR-denominated AT1 Capital Sukuk under its SAR 5 bn program.

Standard Chartered to expand its local scope

Standard Chartered has received the Capital Market Authority’s green light to undertake investment management and operating fund activities, according to a press release. The move “strengthens the bank’s ability to support clients across a wider range of institutional investment needs,” Standard Chartered Capital Saudi Arabia CEO Sarah AlKhelaiwi said.

From a favorite to have-not: Software dealmaking is in a rout

After recording USD 290 bn in buyouts last year — the highest total in 11 years — software dealmaking has slowed down significantly this year. Activity fell to USD 50 bn in the first five months of 2026, down from USD 88 bn a year earlier and the lowest level for the period since the pandemic, the Financial Times reports.

The retreat isn’t limited to M&A: In the US’s leveraged loan market, software’s share of new issuance has fallen to just 9%, roughly half last year’s level and its lowest share since 2013, according to PitchBook.

What’s changed? Fears that AI agents could replace parts of traditional software workflows have left investors struggling to separate winners from losers in the industry. Monthly software transaction value fell from USD 24 bn in January to just USD 5 bn in May after Anthropic’s launch of new AI productivity tools rattled the sector.

That uncertainty is weighing not just on acquisitions, but also on the financing that supports them. Software's share of LBO-related issuance has also fallen, to 17.5% from 34.5% last year — another sign that lenders and sponsors are becoming more cautious about backing the sector.

The core problem is valuation: “Until an investor knows what a business may be worth post-AI adoption, it’s impossible for them to make a case to their investment committee,” Arma Partners’ Paul-Noël Guély told the salmon-colored paper.

That is leaving software as one of the market’s “have-nots,” in the words of PGIM Credit's Engin Okaya, as investors grow more selective about where they deploy capital. Healthcare, by contrast, has overtaken software as the largest source of institutional loan issuance for the first time since 2015, accounting for 14% of volume this year. Investors are showing much more confidence in sectors seen as less exposed to AI disruption, Latham & Watkins' David Walker told the newspaper.

MARKETS THIS MORNING-

Asia-Pacific markets rebounded in early trading after Iran and Israel said they would press pause on launching any further attacks against each other. South Korea’s Kospi is up 3.4%, while Japan’s Nikkei is up a more modest 0.8%. The Shanghai Composite is up as well, while the Hang Seng is in the red.

TASI	10,973	+0.4% (YTD: +4.6%)
MSCI Tadawul 30	1,462	+0.6% (YTD: +5.4%)
NomuC	22,750	-1.0% (YTD: -2.3%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	51,883	-0.5% (YTD: +24.0%)
ADX	9,484	-1.4% (YTD: -5.1%)
DFM	5,735	-0.6% (YTD: -5.2%)
S&P 500	7,406	+0.3% (YTD: +8.2%)
FTSE 100	10,373	+0.1% (YTD: +4.5%)
Euro Stoxx 50	6,062	0.0% (YTD: +4.6%)
Brent crude	USD 93.74	-0.5%
Natural gas (Nymex)	USD 3.15	0.0%
Gold	USD 4,361	-0.1%
BTC	USD 63,127	-0.3% (YTD: -27.9%)
Sukuk/bond market index	909.48	-0.2% (YTD: -1.1%)
S&P MENA Bond & Sukuk	151.25	-0.2% (YTD: -0.4%)
VIX (Volatility Index)	18.92	-12.0% (YTD: +26.6%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.4% on Monday on turnover of SAR 5.7 bn. The index is up 4.6% YTD.

In the green: CGS (+7.8%), National Company for Learning and Education (+6.7%), and Amana Ins. (+4.3%).

In the red: Kingdom Holding (-4.3%), Aldawaa Medical Services (-4.1%), and Saico (-3.0%).

THE CLOSING BELL: NOMU-

The NomuC fell 1.0% on Monday on turnover of SAR 15.7 mn. The index is down 2.3% YTD.

In the green: Al Modawat Specialized Medical Co. (+10.1%), Quara Finance (+7.0%), and Dkhoun National Trading (+4.9%).

In the red: Al Mohafaza for Education (-10.0%), Paper Home (-10.0%), and Meyar (-8.8%).

CALENDAR

JUNE

11 June (Thursday): The Effie Awards Saudi Arabia, Riyadh

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

21-24 June (Sunday-Wednesday): Saudi Print & Pack, Riyadh International Convention & Exhibition Center.

21-24 June (Sunday-Wednesday): Riyadh International Industry Week, Riyadh International Convention & Exhibition Center.

21-24 June (Sunday-Wednesday): Saudi Plastics & Petrochem, Riyadh International Convention & Exhibition Center.

21-24 June (Sunday-Wednesday): Saudi Smart Logistics, Riyadh International Convention & Exhibition Center.

22-24 June (Monday-Wednesday): The Future Hospitality Summit, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

AUGUST

30 August-1 September (Sunday-Tuesday): The Saudi Entertainment and Amusement Expo, Riyadh Front Exhibition and Conference Center.

31 August-3 September (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.

SEPTEMBER

8-10 September (Tuesday-Thursday): The WTM Spotlight Riyadh, Riyadh Front Exhibition & Conference Center (RFECC), Riyadh

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

23 September (Wednesday): Saudi National Day.

28 September-1 October (Monday-Thursday): The International Conference on Theory and Practice of Electronic Governance (ICEGOV), Prince Sultan University, Riyadh.

OCTOBER

12-15 October (Monday-Thursday): World Energy Congress, Riyadh.

26-28 October (Monday-Wednesday): ACHEMA Middle East, Riyadh International Convention & Exhibition Center.

28-29 October (Wednesday-Thursday): Procurement and Supply Chain Futures Forum, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

28-29 October (Wednesday-Thursday): Real Estate Supply Chain Forum, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

NOVEMBER

11-12 November (Wednesday-Thursday): Aluminum Arabia, The Arena, Riyadh.

16-19 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre (Malham), Riyadh.

25-29 November (Wednesday-Sunday): Aero Middle East and Sand & Fun, Thumamah Airport, Riyadh.

Signposted to happen sometime in 2026:

2H: Sabic’s USD 6.4 bn Fujian project in China to start production;
September: Saudi Paper and Packaging Expo, Riyadh International Convention & Exhibition Center;
November: The UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia;
November: The Esports Nations Cup, Riyadh;
The World Economic Forum’s Global Collaboration and Growth Meeting, Jeddah;
SkyMove Air Cargo MENA, Riyadh;
The Intervision international music competition will take place in Saudi Arabia.

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;
Capital Markets Forum takes place in March in Riyadh.

Signposted to happen sometime in 2Q 2027:

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

2027

FEBRUARY

1-3 February (Monday-Wednesday): Energy Regulators Regional Association annual conference, Riyadh.

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Developers double down on Syria and Makkah

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Today at a glance

Neom pays a hefty price for terminating contracts