Fourth Milling closes bookbuilding with strong investor demand

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Almajed Oud shares hit Tadawul today

Good morning, friends. It’s another relatively balanced news morning here in the Kingdom, with a couple of IPO and capital markets updates to go along with the latest figures on commercial registrations and startup funding.

ALSO- King Salman is undergoing medical tests for lung inflammation, state news agency SPA said yesterday, citing a statement from the Royal Court. SPA did not provide any further details on the tests, which King Salman was scheduled to begin yesterday. The king had received treatment earlier this year for lung inflammation.

HAPPENING TODAY-

Almajed Oud’s shares start trading on Tadawul’s main market today, Tadawul said on X. The perfume maker wrapped up its 30% stake offering last month at SAR 94 apiece, allowing it to raise SAR 705 mn in proceeds, and giving it a market cap of SAR 24 bn at listing. The institutional tranche of the offering was 15.6x oversubscribed and the retail tranche was 8.2x oversubscribed.

WEATHER- Riyadh is looking at a daytime high of 36°C and a nighttime low of 25°C today. Over in Madinah, the temperature will peak at 40°C before dropping to 27°C. Meanwhile, Jeddah will see a high of 36°C and a low of 28°C.

HAPPENING THIS WEEK-

The Gulf Municipal WorksConference is on its second day at the Ritz-Carlton in Riyadh and will wrap tomorrow. The event brings together officials and experts from across the GCC to explore key issues pertaining to urban development and sustainability.

PSAs-

#1- Today is the last day for property owners to register their properties in the Qurtubah neighborhood in Buraidah, according to the Real Estate General Authority. Owners can register online, and receive a real estate number and title deed with all the important details about their property. Registration requests will still be accepted in other announced areas after the deadline. Fines apply for late submissions.

#2- Investors have until tomorrow to subscribe to the Finance Ministry’s October sukuk issuance, according to a post on X. The issuance offers a 4.92% yield. The minimum subscription amount is SAR 1k, and the maximum is SAR 200k. Allocations are slated for Tuesday,15 October.

DATA POINTS-

Trading volumes in Tadawul’s sukuk/bond market logged SAR 16 bn across 119 negotiated trades in 9M 2024, according to a survey by Argaam. July emerged as the top-performing month, with transactions worth SAR 8.5 bn.

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THE BIG STORY ABROAD-

It’s exactly one year since Hamas’ attacks on Israel triggered a deadly and ongoing campaign in Gaza that has since seen thousands of Palestinians killed — with the estimate for the exact number of deaths contested by multiple sources as many remain missing or under rubble. The UN estimates over 42 mn tons of rubble, which could take more than a decade to clear, Reuters reports.

Israel’s military marked the eve of the anniversary of the start of the war with an aerial and ground offensive in Gaza, said to be the largest in months, killing 26 people in Deir al Balah through two attacks on a school and mosque that are now shelters for the displaced, Reuters reports separately. It also struck Jabaliya in northern Gaza, dropping leaflets to tell residents they’re attacking the area. In Lebanon, Israel bombarded Beirut overnight, while Hezbollah struck a military base near Haifa in Israel, the Guardian reports.

IN THE BUSINESS PRESS- It’s relatively quiet, typical for the start of a new week, but only for a little while as earnings season kicks into gear with 3Q figures set to trickle in as of 11 October. Speculations and forecasts are already making headlines, with Reuters taking note of an expected weakening recovery in Samsung’s earnings and of UBS’ forecast of an average 4.7% growth in S&P 500 earnings this quarter.

CIRCLE YOUR CALENDAR-

The three-day 6 Kings Slam event at Riyadh’s Venue kicks off on Wednesday, 16 October, featuring all-star players competing for the largest purse in tennis history. The matches will see face offs between tennis champs Novak Djokovic, Rafael Nadal, Jannik Sinner, Carlos Alcaraz, Daniil Medvedev, and Holger Rune (watch, runtime: 5:15). The final and third-place match will be held on Saturday, 19 October. Book your tickets here.

The Professional Fighters League’s (PFL) Battle of the Giants is coming to Riyadh on Saturday, 19 October. Headlining the card, MMA superstar Francis Ngannou will face PFL heavyweight champion Renan Ferreira for the title of inaugural PFL Super Champion. Meanwhile, women’s featherweight champion Cris Cyborg will square off against Larissa Pachecho for the World Title Fight in the co-main event. Expect fireworks with additional matchups featuring Johnny Eblen vs. Fabian Edwards and A.J. McKee vs. Paul Hughes.

The two-day Multilateral Industrial Policy Forum will kick off in Riyadh on Wednesday, 23 October. The forum will address global industrial challenges, focusing on topics like industrial policy, clean energy, and advanced manufacturing tech. The forum is organized by The Industry and Mineral Resources Ministry in partnership with UNIDO. The Kingdom will also host the UNIDO General Conference in 2025.

The four-day Biban24 Forum organized by Monsha’at will run from Tuesday, 5 November to Saturday 9 November in Riyadh. It will feature over 250 speakers and 1.4k exhibitors, focusing on supporting the growth and competitiveness of SMEs, as well as promoting entrepreneurship in the Kingdom. Biban24 will also host the Entrepreneurship World Cup finals, offer 420 workshops, and focus on key sectors like e-commerce and financing.

The Saudi General Aviation Airshow Sand & Fun 2024 will run from Tuesday, 19 November to Saturday 23 at Al Thumamah Airport, Riyadh. Organized by the Saudi Aviation Club, the event will feature 100+ exhibitors and 15 airshow teams, with over 100k visitors expected. Sand & Fun is a key platform for exploring aviation tech, fostering partnerships, and driving industry growth.

The four-day Saudi Film Forum 2024 will kick off Wednesday, 9 October in Riyadh, featuring areas for agreement signings, consulting, studio simulation, film talks, cinematic arts, and a little filmmaker section for children.

The Saudi Winter festivities are back, starting October until the end of March 2025, with over 1k events spread across seven key destinations — Riyadh, Jeddah, AlUla, the Red Sea, Eastern Province, Madinah, and Hail. Expect everything from Riyadh Season’s entertainment spectacles, the Dakar Rally, and MDL Beast’s massive music festival, to hiking trails, camps and winter caravans, with special offers available through the Visit Saudi app (Google Play | App Store).

Fourth Milling Company’s retail offering was 3.9x covered

Fourth Milling Company (MC4) closed the retail tranche of its IPO with a 3.9x oversubscription rate, after booking SAR 677 mn in individual orders for 20% of the total shares on offer at SAR 5.3 apiece, according to a filing to Tadawul.

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REFRESHER- The company is taking a 30% stake to Tadawul’s main market in a secondary share sale. The offering’s institutional tranche was 119x oversubscribed. MC4 priced its IPO at the top of its indicative price range, which would give MC4 a market cap of SAR 2.9 bn at listing and should see it raise some SAR 858.6 mn in IPO proceeds.

ADVISORS- Riyad Capital is quarterbacking the transaction as lead manager, financial advisor, book-runner and underwriter, with Baker Mckenzie providing counsel to the issuer. PwC is financial due diligence advisor, Euromonitor International was tapped as market study consultant, and EY is auditor. Riyad Bank and Arab National Bank are receiving agents. Meanwhile, Khoshaim & Associates is counsel to Riyad Capital.

Newly-issued commercial registrations for businesses rise 62% in 3Q 2024

The Commerce Ministry issued a total of 136k new commercial registry records in 3Q 2024, marking a 62% y-o-y rise in the number of newly-issued registrations, according to the ministry’s quarterly report (pdf). Women-owned businesses accounted for 45% of the newly-issued registration documents during the quarter, the ministry said. Riyadh, Makkah and the Eastern Province emerged as top regions for business activity in Saudi, which collectively saw 72% of all new registrations in 3Q.

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The lay of the land: Saudi now has a total of 1.5 mn active commercial registrations, 46.8% of which are held by women. Of that same overall figure, 38% of commercial registrations are held by young entrepreneurs, according to the breakdown. Overall, Riyadh is home to 495.5k active registrations, followed by Makkah at 335k, and the Eastern Province at 235.9k.

Gaming industry leads the pack: The game development sector recorded the highest y-o-y growth in commercial registrations in 3Q 2024, with their number more than doubling to 5.8k, up from 2.8k during the same period last year. This was followed by 68% y-o-y growth in new commercial records in the logistics sector to 14.2k, a 49% uptick in the AI tech sector (10.2k), and a 48% increase in the 3D printing tech (5.4k). Commercial registrations for fintechs grew at 27% y-o-y. The number of active registrations in the local e-commerce sector came in at 39.8k in 3Q, up from 36.3k during the same period last year.

Also seeing growth: The financial and ins. services sector logged a total of 11.2k commercial registrations by the end of 3Q (17% y-o-y growth), followed by 8.6k in the hotel apartments sector (43% y-o-y growth). The sports club sector recorded 7.5k registrations (17% y-o-y growth), with wellbeing and personal care centers at 6.6k (37% y-o-y growth) .

REMEMBER- The Cabinet recently signed off a new Commercial Registration Law and Trade Name Law, which are set to take effect 180 days from their publication in the Kingdom’s official Gazette last Friday. Among other changes, companies will now be required to have a singular commercial register covering all of their activities in Saudi.

Saudi startups were the highest-funded in the MENA region for September

Saudi startups dominated MENA funding in September, with 13 startups raising a combined USD 165.3 mn during the month according to Rasmal’s latest MENA Startup Funding Report. This is a 12x m-o-m increase from August’s USD 13.9 mn. The UAE came in second position with USD 114.3 mn raised across 28 startups, followed by Egypt at USD 25 mn across eight startups.

Jeddah + Riyadh at the forefront: Four Jeddah-based startups raised USD 83.4 mn across four transactions, making it the second-most attractive city in the region for startups, followed by Riyadh startups, which secured USD 66 mn across nine transactions. These were driven by Shift’s USD 82.8 mn investment from Merak Capital, and car marketplace Syarah’s USD 60 mn series C round last month. Dubai led the pack in terms of the most attractive city in the region for startups, with 25 startups raising a combined USD 107.3 mn.

Regional snapshot: MENA startups raised a combined USD 328.3 mn across 60 startups last month, down from USD 566 mn in August. The region raised USD 1.1 bn across 143 startups in 3Q 2024. The lion’s share of investments in September — some USD 129.4 mn — was concentrated in late-stage VC funding. Meanwhile, seed-stage funding declined 17% m-o-m to USD 57.3 mn, and Series A grew 187.8% m-o-m to USD 54.7 mn.

REMEMBER- Saudi and the UAE accounted for 68% of MENA-based venture investors and contributed to 8% y-o-y growth in the number of local investors in the region in 1H 2024.

The three most attractive sectors: Fintech startups secured USD 134.8 mn in September, up from USD 47.2 mn in August. This was followed by the logistics sector at USD 83 mn, and the software development sector with USD 52.6 mn.

Almarai reports 17.3% y-o-y rise in 3Q 2024 net income

Tadawul-listed Almarai’s bottom line grew 17.3% y-o-y to SAR 570.4 mn in 3Q 2024, it said in an earnings release (pdf). The net income growth was driven by higher revenue, improved expenses management, and stabilized commodity prices, with the firm’s dairy, bakery, and poultry segments all seeing gains from higher sales and improved efficiency.

Revenues rose 8.6% y-o-y to SAR 5.2 bn, led by strong volume growth across all product categories, particularly foods and dairy. The company reported strong sales performance across all markets, with the exception of Egypt, which declined on a y-o-y basis in SAR due to the base effect of the country’s currency devaluation, according to a disclosure to Tadawul. In EGP terms, Almarai’s sales in Egypt registered double-digit growth.

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On a 9M basis: Net income rose 12.2% y-o-y to SAR 1.9 bn in 9M 2024, with revenues rising 8.0% during the same period to SAR 15.8 bn.

REMEMBER- Almarai is looking to spend more to make more: It said in March that it plans to spend SAR 18 bn over the next five years as part of a strategic plan aimed at maximizing sales. It plans to ramp up investment in supply chains, development, sustainability, operational efficiency, and technology.

Regional investment bank Sico BSC appoints a new group chief legal officer

Bahrain-based regional asset manager and investment bank Sico BSC has tapped Noora Janahi (LinkedIn) as its new group chief legal officer, it said in a post on Linkedin. Janahi’s most recent posting saw her spend 15 years as a partner at Hassan Radhi and Associates. Sico’s financial services subsidiary Sico Capital is based in Riyadh.

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Regional tensions weigh on Saudi stock market

It’s another busy day for Saudi Arabia in the foreign press, with commentary on Saudi equity performance, the resumption of work on Jeddah Tower, and the Kingdom’s economic diversification plans.

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TASI starts off 4Q on a low note: The Tadawul all-share index (TASI) fell 3.7% in the first four days of 4Q 2024, wiping out all of the index’s YTD gains and marking “its worst fourth-quarter start in years,” Bloomberg reports. The decline, which comes as regional tensions draw close to a crescendo, is expected to continue in the short-term, with head of sell-side research at Aljazira Capital, Jassim Al Jubran. The Saudi equity market’s performance will be affected by the trajectory of the conflict, particularly if Saudi’s neighbors begin engaging in direct military conflict. Strategists at HSBC Holdings downgraded Saudi Arabian equities to neutral from overweight, pointing to short-term concerns due to the geopolitical tensions and lower oil prices.

Where does oil factor in? Despite oil prices placing pressure on the national budget and diversification plans, crude would have to hover below USD 69 / bbl to impact equity markets, the business information service quotes Sedco Capital’s acting CEO Abdulwahhab Abed as saying.

MEANWHILE- The Financial Times looks at Prince Alwaleed bin Talal’s plans to resumeconstruction on the Jeddah Tower, which is set to become the world’s tallest skyscraper when completed in 2028.

AND- CNN journalist Fareed Zakaria sang the praises of Saudi Arabia on Arab News’ show Frankly Speaking, lauding the positive changes taking hold in the Kingdom (watch, runtime: 32:05). “There are areas where [Saudi Arabia] is moving very fast; there are areas where it is still being somewhat restrained. I am impressed that they are trying to strike a balance, that they are trying to push some things forward and modernize in some areas.”

Al Etihad + HR Ministry roll out ins. product for expats living in Saudi

FINANCIAL SERVICES-

Non-Saudi workers in the local private sector will now have access to ins. coverage for their financial dues after Tadawul-listed ins. company Al Etihad inked a SAR 391 mn one-year contract with the Human Resources and Social Development Ministry to provide coverage, according to a disclosure to Tadawul. The ins. cover includes wages, unpaid dues and a return ticket to the worker's home country.

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LOGISTICS-

Gov’t launches tender for developing 13 customs warehouses: The Zakat, Tax, and Customs Authority and the National Center for Privatization launched a tender for building and operating warehouses across the Kingdom, according to a post on X. The project includes building 12 new warehouses, renovating an existing one, and supplying equipment for 38 points of entry nationwide under a 15-year contract. Interested companies have until 14 November 2024 to express their interest and submit a request for qualification here.

US September jobs report beats analyst expectations

The US economy added 254k jobs in September, coming in far above forecasts, with unemployment dropping to 4.1%, according to data from the Bureau of Labor Statistics over the weekend. Unemployment also fell to 4.1% during the month, coming down from a three-year high of 4.3% in July.

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Sector breakdown: Job growth in the US was led by the leisure and hospitality sectors, with nearly 70k new positions added in restaurants and bars. Healthcare also posted gains with 45k new jobs. Meanwhile manufacturing, mining, oil, retail, and other sectors remained flat for the month.

“Smashing” expectations: The September data far exceeded the 140k new jobs figure cited in a Reuters poll, with the Financial Times saying the figures “smashed” expectations and led traders to reassess their expectations of the US Federal Reserve’s monetary easing pace. Traders are now penciling in a smaller 25 bps reduction at the Fed’s next pol icy meeting in November. The higher-than-expected employment growth reinforces economists’ hopes that the US Federal Reserve’s strategy is placing the US economy on track for a “soft landing,” the salmon-colored paper reported.

Strong outlook for the US economy: “You couldn’t paint a prettier picture of the job market and broader economy. If this report doesn’t silence the recession fearmongers, then nothing will,” the Financial Times quotes chief economist at Moody’s Analytics Mark Zandi as saying. Meanwhile, senior US economist at Vanguard Josh Hirt has described the latest jobs reports as “a bit of a game-changer.” The boost in perceptions on the US economy is also expected to boost VP Kamala Harris’ standing against Donald Trump ahead of November’s presidential elections with the pair currently head-to-head in polls.

Bond markets paint a different picture: US Treasury yields rose after the job numbers were published, with the two-year yield rising to a one-month high of 3.93%. Stocks also rallied, with S&P 500 closing up 0.9% on Friday, marking its fourth straight week of gains. Bond traders are now concerned that the higher-than-expected jobs figures are putting the US economy on track for a “‘no landing’ scenario — a situation where the US economy keeps growing, inflation reignites and the Federal Reserve has little room to cut interest rates,” Bloomberg says. The data “spoiled” a rally in US Treasuries that had driven yields down, with bond markets reacting to fears that the Fed’s monetary easing cycle is “disconnected” from the market.

All eyes on inflation now: Queens’ College, Cambridge President Mohamed El Erian told Bloomberg TV the strong employment figures require that the Fed “renew its focus” on keeping inflation in check. “This is not just a solid labor market, but if you take these numbers at face value, it’s a strong labor market late in the cycle,” El Erian said. The Bureau of Labor Statistics is set to release its Consumer Price Index for September this Thursday, 10 October.

MARKETS THIS MORNING-

Asia-Pacific markets are solidly in the green in early morning trading today, Japan’s Nikkei rising more than 2% and Hong Kong’s HSI rising nearly 1%. South Korea’s Kospi and Australia’s ASX 200 are also in the green. Mainland China’s markets are still closed for the Golden Week holiday and will reopen tomorrow.

TASI	11,769	-1.6% (YTD: -1.7%)
MSCI Tadawul 30	1,475	-1.5% (YTD: -4.9%)
NomuC	24,656	-1.0% (YTD: +0.5%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.5% repo	5.0% reverse repo
EGX30	31,721	+1.2% (YTD: +27.4%)
ADX	9,180	-0.4% (YTD: -4.2%)
DFM	4,406	+0.2% (YTD: +8.5%)
S&P 500	5,751	+0.9% (YTD: +21.3%)
FTSE 100	8,281	-0.02% (YTD: +10.4%)
Euro Stoxx 50	4,955	+0.7% (YTD: +9.6%)
Brent crude	USD 78.05	+0.6%
Natural gas (Nymex)	USD 2.85	-3.9%
Gold	USD 2,667.80	-0.4%
BTC	USD 62,501	+1.0% (YTD: +47.9%)

THE CLOSING BELL: TADAWUL-

The TASI fell 1.6% yesterday on turnover of SAR 6.2 bn. The index is down 1.7% YTD.

In the green: Al Baha (+7.1%), Aslak (+3.3%) and Kingdom (+2.2%).

In the red: Saudi Ceramics (-7.3%), Elm (-6.8%) and Arab Sea (-6.8%).

THE CLOSING BELL: NOMU-

The NomuC fell 1.0% yesterday on turnover of SAR 25.1 mn. The index is up 0.5% YTD.

In the green: Naas Petrol (+12.6%), Leaf (+10.0%) and Mayar (+8.2%).

In the red: Enma Al Rawabi (-8.5%), Aictec (-7.7%) and Leen Al Khair (-7.7%)

CORPORATE ACTIONS-

Salama Cooperative Ins. has issued its prospectus (pdf) for a SAR 100 mn rights offering, as it looks to hike its capital by 50% to SAR 300 mn after obtaining approval from the Capital Market Authority. The firm plans to offer 10 mn additional shares at SAR 10 apiece to existing shareholders and new investors with the transaction expected to raise some SAR 100 mn in proceeds. Net proceeds will go towards supporting growth plans and maintaining a central bank-imposed solvency margin requirement after deducting an estimated SAR 11.3 mn in offering costs. Shareholders will not receive any of the offering’s proceeds.

ADVISORS- The company tapped Alawwal Capital as financial advisor, lead manager, and underwriter, with Al Nefaie Investment also stepping in as an additional lead manager.

CALENDAR

OCTOBER

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

9-12 October (Wednesday-Saturday): Saudi Film Forum 2024, Riyadh.

12 October (Saturday): Riyadh Season.

12 October (Saturday): Shakur Stevenson x Joe Cordina, Riyadh.

12-14 October (Saturday-Monday): Global Logistics Forum, Riyadh.

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

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

19 October (Saturday): Battle of the Giants, Mayadeen Hall, Riyadh.

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.

23-24 October (Wednesday-Thursday): UNIDO’s Multilateral Industrial Policy Forum (MIPF), Riyadh.

26 October (Saturday): Donor Conference to Support Refugees in Sahel and Lake Chad Regions, TBD.

27-28 (Sunday-Monday): The Global PropTech Summit, Movenpick Hotels & Resorts, Riyadh.

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

30 October-3 November (Wednesday-Sunday): Hia Hub 4.0, Riyadh.

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

NOVEMBER

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

3-23 November (Sunday-Sunday): NEOM Beach Games, Neom.

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

5-9 November (Tuesday-Saturday): Biban24 Forum, The Front Exhibition and Conference Center, 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.

11-12 November (Monday-Tuesday): Expenditure Efficiency Forum, The Hilton, Riyadh.

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

16 November (Saturday): Latino Night at Riyadh Season, Riyadh.

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

19-20 November (Tuesday-Wednesday): The Women's Economic Forum 2024, Dammam.

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

23 November (Saturday): Red Sea 600, Jeddah Yacht Club and Marina.

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

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

28 November-14 December (Thursday-Saturday): Noor Riyadh, Riyadh.

29 November-2 December 2024 (Sunday-Wednesday): World Sailing Youth Match Racing World Championship, Jeddah Yacht Club and Marina.

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.

11 December (Wednesday): Billboard Arabia Music Awards (BBAMAs), King Abdullah Financial District, Riyadh.

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

5-8 December (Thursday-Sunday): World Sailing Women’s Match Racing World Championship, Jeddah Yacht Club and Marina.

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

15-19 December (Sunday-Thursday): Internet Governance Forum, King Abdulaziz International Conference Center, Riyadh.

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

Signposted to happen sometime in 2024:

The AFC Champions League Elite

2025

JANUARY 2025

14-16 January (Tuesday-Thursday): Future Minerals Forum, King Abdulaziz International Conference Center, Riyadh.

27-29 January (Monday-Wednesday): Real Estate Future Forum, Four Seasons Hotel, Riyadh.

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

29-30 January (Wednesday-Thursday): Global Labor Market Conference, Riyadh.

FEBRUARY 2025

4-5 February (Tuesday-Wednesday): The RLC Global Forum, Riyadh.

6-8 February (Thursday-Saturday): Liv Golf season opener, Riyadh Golf Club, Riyadh.

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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