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Wednesday, 3 Dec 2025

What We’re Tracking Today
Economy
Ipo Watch
Banking
Ipo Watch
Defense
Startup Watch
Also On Our Radar
Planet Finance
Calendar

FY2026 budget unveiled ahead of a new Vision 2030 phase

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Today at a glance

1

ECONOMY

FY2026 budget unveiled ahead of a new Vision 2030 phase.
2

IPO WATCH

Almasar Education gains over 18% on Tadawul debut.
3

BANKING

Net foreign assets’s surplus narrows for the second consecutive month in October.
4

IPO WATCH

Alramz prices main market IPO top of range at SAR 70 a pop.
5

DEFENSE

US approves USD 1 bn military sales to Saudi Arabia.
6

STARTUP WATCH

Cybersecurity startup Cognna closes series A funding.
7

ALSO ON OUR RADAR

UK’s Buro Happold is the lead design consultant for Expo 2030.
8

PLANET FINANCE

Pundits pencil-in rate cut next week as Fed divisions widen on where the cycle should stop.

Wednesday, 3 Dec 2025

What We’re Tracking Today
Economy
Ipo Watch
Banking
Ipo Watch
Defense
Startup Watch
Also On Our Radar
Planet Finance
Calendar
1

WHAT WE’RE TRACKING TODAY

THIS MORNING: Paramount has Gulf sovereign funds backing Warner Bros. offer, Variety reports

Good morning. The Finance Ministry unveiled the spending plan for FY2026, as Vision 2030 is going into its third phase spanning the next five years. Spending on diversification efforts is expected to continue unfazed by oil volatility, but financing is set to shift away from capital-intensive construction projects to productive non-oil sectors including industry, AI and tourism. That means deficits are not going away at least until 2028, but at lower and lower levels as per the estimates.

ALSO- Almasar saw a strong debut on Tadawul, closing up over 18% and bucking what has been a bruising year of muted main market IPOs. Let’s dive in.

WATCH THIS SPACE-

#1- Paramount’s Warner Bros. offer has PIF, GCC backing? The latest offer from Paramount Skydance to fully acquire Warner Bros. Discovery is reportedly backed by the Public Investment Fund, the Qatar Investment Authority, and the Abu Dhabi Investment Authority, unnamed sources told Variety. The offer is mostly backed by Oracle co-founder Larry Ellison, while GCC backing is below the threshold that requires foreign investment approval in the US, the sources added.

Not the first time hearing of it: Ellison, who acquired Paramount this year for USD 8 bn, reportedly held preliminary and “active” talks with the PIF and other Gulf investors to secure financing for a potential bid, the Financial Times reported last month. Earlier reports by Variety on Gulf backing were denied by Paramount at the time.

Fierce competition: Ellison’s GCC-backed offer (if true) will reportedly be going up against offers from industry titans Netflix and Comcast. There’s no word yet on details of the rival offers, but sources say Netflix is trying to sweeten the bid by pledging to honor Warner’s agreements to distribute films in theaters in case its offer goes through.

#2- SNB taps global, Asian liquidity as local lenders extend their borrowing streak: Saudi National Bank (SNB) is reportedly lining up a USD 1 bn syndicated loan, mandating DBS Bank and Mitsubishi UFJ Financial (MUFG) to quarterback the five-year facility, Bloomberg reports, citing people it says are familiar with the matter. The transaction is now being syndicated to a wider pool, including Asian lenders, as the kingdom’s banks continue to raise cross-border funding to support the government’s USD 2 tn agenda.

  • The facility will reportedly be priced at 90 bps over SOFR, with the bank targeting participants globally.

IN CONTEXT- Lenders are gearing up for heavier funding needs as Vision 2030 capex continues to outstrip internal resources. S&P Global says domestic banks will have to extend USD 65-75 bn in new loans annually through 2026, mostly to real estate and utilities, and will increasingly rely on external borrowing as deposit growth lags.

A regional funding wave: SNB’s move follows a string of Middle East borrowers turning to Asia for liquidity, with regional entities raising USD 13.5 bn in syndicated loans from Asia Pacific YTD, nearly triple last year’s haul, according to Bloomberg data. Riyad Bank recently secured USD 1.5 bn, largely from Greater China lenders, while Abu Dhabi’s ADQ closed a USD 5 bn facility in October, tapping a similar investor base.

#3- IPO rush continues: Saudi Exchange CEO Mohammed Al Rumaih says more than 40 companies IPO-ed this year and another 40 have already filed applications, Bloomberg reports citing statements he made at the FII Priority Asia Summit in Tokyo. The broader pipeline expands to as many as 100 firms when including companies now tapping advisers.

DATA POINT- Issuers already raised USD 4.5 bn across the main market and Nomu in 2025, the strongest year for IPO proceeds since 2022, led by PIF-backed airline Flynas and Mecca developer Umm Al Qura.

Market conditions are looking unfavorable for newcomers: TASI sits 12% lower YTD, on track for its worst year since 2015. Weak index performance has already slowed PIF-linked listings and weighed on recent debuts — more recently Cherry Trading.

Riyadh is pushing ahead with sweeping market reforms to draw foreign capital, including plans to open equity trading to all overseas investors and lift ownership caps, at a time when high spending and softer oil revenue are widening deficits.

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THE BIG STORY ABROAD-

Russian President Vladimir Putin met US special envoy Steve Witkoff in Moscow to discuss ways to end the war in Ukraine. Putin’s aide Yuri Ushakov described the discussions as “constructive” but said much work remains. The meeting followed US consultations with Ukrainian officials in recent weeks to revise a 28-point peace proposal criticized for favoring Moscow. (Reuters | BBC | Axios | New York Times | CNN | Washington Post)

In Washington, US President Donald Trump said he will announce his nominee for Federal Reserve chair in early 2026, naming White House economic adviser Kevin Hassett as a leading contender to replace Jay Powell when his term ends in May. Trump said the search, which once included about ten candidates, is now “down to one,” though final interviews with senior officials will continue in the coming weeks. The president reiterated his criticism of Powell for not cutting interest rates fast enough. (Financial Times | Reuters | Bloomberg)

Meanwhile in crypto markets, BTC climbed back above the USD 90k mark, rebounding after a steep selloff, Bloomberg reports. The recovery came after the Securities and Exchange Commission signaled plans for an “innovation exemption” for digital asset firms and Vanguard announced it would allow trading of crypto-focused ETFs and mutual funds on its platform. Despite the recovery, sentiment remains fragile with traders staying cautious ahead of next week’s Fed rate decision.

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2

ECONOMY

FY2026 budget unveiled ahead of a new Vision 2030 phase

Big spending and active borrowing will continue in the next fiscal year, the government’s FY2026 budget shows. Spending levels should not to be affected by volatility in oil prices, as the Kingdom wants to maintain stable plans to shore up the confidence of investors and the private sector, Finance Minister Mohammed Al Jadaan said at a briefing yesterday.

Total spending is expected to decline to SAR 1.31 tn in FY2026, compared to an estimated SAR 1.34 tn this fiscal year, according to the budget statement (pdf). Meanwhile, revenues are set to rebound to SAR 1.15 tn after falling to SAR 1.09 tn in 2025.

The biggest earmarks: Health and social development (SAR 259 bn), the military (SAR 240 bn), education (SAR 202 bn), and public security (SAR 120 bn). The government plans to maintain the high levels of spending in 2027 and 2028, but spending will shift to priority sectors like industry, logistics, AI and tourism to shore up non-oil growth.

IN CONTEXT- Vision 2030 enters its third phase in FY2026, which will focus on intensifying implementation of major projects and accelerating achievements to cement impact beyond the 2030 mark. GDP growth is penciled in at 4.6% next year, slowing to 3.7% in FY2027.

The ministry is targeting a deficit of SAR 165 bn, or 3.3% of GDP, significantly lower than the SAR 245 bn (5.3% of GDP) estimated for the current fiscal year. Deficits are expected to continue over the medium term, albeit at lower levels, as the government aims to balance between responding to economic cycles and achieving fiscal sustainability targets, the statement said.

“The current level of deficit is a policy choice. We need to invest in our economy to enable the private sector, and as long as the return on these investments is higher than the cost of the debts, we would continue that drive for the foreseeable future,” Al Jadaan said at the budget briefing.

Debt is expected to amount to SAR 1.62 tn in FY2026 (32.7% of GDP), up from an estimated SAR 1.46 tn in FY2025. “We are very careful to not oversupply the market,” Al Jadaan said, noting that only half of issuances this year happened through public markets to avoid risks and leave room for the private sector.

We could see higher levels of debt, but still below 40% of GDP, chief economist at Abu Dhabi Commercial Bank Monica Malik told Bloomberg, adding that sharp falls in oil prices remain a risk that could lead to a bigger deficit.

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3

IPO WATCH

Almasar Education gains over 18% on Tadawul debut

K-12 school operator Almasar Education gained 18.4% to SAR 23.1 per share on its first day of trading on Tadawul, bucking a wider trend of downbeat main market debuts amid tougher liquidity conditions on the Saudi bourse. The stock traded between a high SAR 23.1 and a low of SAR 18.33, briefly dipping below its final offer price of SAR 19.50, before settling at the top end of that range. Around 21.4 mn shares changed hands across 41k trades worth SAR 450.4 mn.

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

Usual caps apply: Almasar’s shares can move within a 30% band on debut, with a 10% static limit in place for the first three sessions. From day four onward, volatility is capped at 10% as circuit breakers kick in.

A strong open after a heavily oversubscribed IPO: The K-12 school operator’s strong debut follows a well-covered offering, with the institutional tranche closing 102.9x oversubscribed and the retail portion 1.21x covered. The company floated a 30% stake in a fully secondary offering from its then-sole owner Amanat, raising SAR 599 mn. This places it around mid-table among this year’s Tadawul listings by proceeds, sitting just behind United Carton Industries (SAR 600 mn) and ahead of Entaj (SAR 450 mn).

IN CONTEXT- Almasar’s debut lands in a market that’s been under heavy pressure, with Tadawul’s benchmark index TASI sliding 9.1% in November to about 10.6k points dragging its YTD loss to roughly 12% — its sharpest monthly drop since mid-2022 and steepest YTD slump in a decade. Analysts say the pullback reflected liquidity pressures, capital rotating into IPOs, cautious positioning, and a rapid unwinding of speculative wagers after mixed signals on foreign-ownership caps.

Why it bucked the trend: Almasar came to market with a set of tailwinds few other issuers enjoyed. The school operator had a visible expansion pipeline at a time when defensives held up far better than cyclicals in a liquidity-strained market. Its SAR 599 mn float was also fully secondary, meaning no new supply hit the market, and the size was manageable relative to current liquidity conditions. Together, that may have helped strong demand translate more cleanly into post-listing support and gave Almasar a clearer runway than most recent Tadawul debuts.

What to watch: The company plans to deploy SAR 115 mn in capex in Saudi Arabia to expand its special-needs daycare footprint and open 15 new schools and centers over the next two years, 50-70% of which is already invested. CEO Fadi Habib has also signaled ambitions to scale higher-education offerings in KSA, mirroring the growth trajectory of its domestic portfolio, including Middlesex University Dubai.

ADVISORS- Our friends at EFG Hermes KSA co-managed bookbuilding alongside SNB Capital who is quarterbacking the transaction as financial advisor, bookrunner, and underwriter with Clifford Chance acting as counsel to the issuer. Baker Mackenzie is advising the bookrunner, while PwC is handling financial and tax due diligence. Euromonitor International provided market research, and Deloitte is acting as auditor.

Amanat may not be done listing in Saudi: Almasar’s strong debut could also bolster its parent company’s appetite for a second Saudi listing. The Dubai-based firm was previously reported to have mandated EFG Hermes and First Abu Dhabi Bank (FAB) to explore an IPO of its healthcare arm — a transaction that could raise around USD 200 mn.

ALSO IN THE PIPELINE-

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4

BANKING

Net foreign assets’s surplus narrows for the second consecutive month in October

Net foreign assets’ surplus in the Kingdom’s banking sector declined for the second consecutive month in October to SAR 1.42 tn, down from SAR 1.45 tn in September, according to the Saudi Central Bank’s (Sama) latest monthly statistical bulletin (pdf).

The breakdown: Sama’s net foreign assets ended October with a surplus of SAR 1.57 tn, down from SAR 1.6 tn in September. Meanwhile, commercial banks saw their deficit soaring to SAR 154.9 bn in October from SAR 146.5 bn a month earlier.

The total assets of commercial banks inched up to SAR 4.94 tn by the end of October, compared to just under SAR 4.93 tn in the previous month, representing a 13% y-o-y rise. Bank credit across all segments increased 13.8% y-o-y to SAR 3.3 tn by the end of the month.

Personal loans continued to dominate credit, coming in at more than SAR 1.43 tn, followed by corporate credit to real estate activities with SAR 383 bn, wholesale and retail trade at SAR 215 bn, and electricity, gas, and water supplies at around SAR 213.4 bn.

MEANWHILE- Residential mortgages financed by banks went down for the third month in a row, and it slumped 31.5% y-o-y to just above SAR 5.5 bn during the same period, with a total of 8.03k contracts.

Settled letters of credit financing private sector imports decreased 7.1% y-o-y to SAR 14.3 bn by the end of October. Around SAR 1.9 bn went to building materials, while SAR 1.8 bn was allocated to vehicles, SAR 1.4 bn for food items, SAR 658 mn for machinery, and SAR 601 mn for appliances.

New letters of credit — an indicator for future imports — surged 6.7% y-o-y to SAR 15.9 bn by the end of the month. This included around SAR 3.5 bn for motor vehicles, SAR 1.6 bn for building materials, SAR 698 mn for machinery, SAR 995 mn for food items, and SAR 988 mn for appliances.

ALSO- Broad money supply (M3) increased 6.9% y-o-y to SAR 3.1 tn by the end of October. Demand deposits (45.1%) topped the list of currency supply components, followed by time and savings deposits (37%), other quasicash deposits (10.3%), and banknotes in circulation outside banks (7.7%). Meanwhile, total liabilities reached over SAR 5.4 tn, recording a 6.9% y-o-y increase.

SOUND SMART- M3 is the broadest measure of money supply in a given economy. It includes banknotes, current accounts, and other money that can be quickly mobilized (what econ-nerds call M2) as well as large time deposits, institutional money market funds, short-term repurchase agreements, and larger liquid funds.

Gov’t bonds went up again in October: Government bonds jumped for the third straight month in October to SAR 648.4 bn, marking an increase of 11.8% y-o-y. Meanwhile, bank credit to public institutions increased 37.3% y-o-y to SAR 246.9 bn.

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5

IPO WATCH

Alramz prices main market IPO top of range at SAR 70 a pop

Alramz Real Estate priced its Tadawul IPO at SAR 70 per share, the top of therange it was guiding on, after its institutional offering was 11.1x covered, drawing roughly SAR 10 bn in orders, it said in a press release (pdf). The final offer price will see it raise SAR 900.2 mn in gross IPO proceeds, according to our calculations, implying a market cap of SAR 3 bn at listing.

What’s next: Retail investors will get a three-day subscription period for 20% of the shares on offer starting Sunday, 7 December. They will be able to apply for up to 250k shares each, with a minimum of 10 shares, according to the prospectus. Final allocations will be made on Monday, 15 December.

REFRESHER- Alramz is floating 12.86 mn new shares, representing 30% of its post-IPO capital, on Tadawul’s main market. The IPO will raise the company’s capital to SAR 428.57 mn from SAR 300 mn once the sale wraps up. Alramz has already locked in cornerstone commitments for 2.7 mn shares. All proceeds — minus SAR 27 mn in offering expenses — will go to the company which plans to channel roughly 37% of them into project development, 36% into launching new real estate funds, and the remaining 23% toward general corporate purposes.

Where it ranks among its peers: With SAR 900.2 mn in proceeds, Al Ramz lands amongst the largest Tadawul main-market IPO of 2025, sitting just behind Nice One (SAR 908 mn) and ahead of United Carton Industries (SAR 600 mn) and Almasar Education (SAR 599 mn).

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.

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6

DEFENSE

US approves USD 1 bn military sales to Saudi Arabia

US approves military sales to Saudi Arabia: The US State Department has approved two potential military sales to Saudi Arabia totaling USD 1 bn to provide aviation training and logistics support, according to separate statements. The agreements are intended to strengthen the operations of the Royal Saudi Land Forces Aviation Corps.

#1- Logistics support: The first agreement (pdf), valued at an estimated USD 500 mn, covers a logistics package to supply spare parts and repairs. The package is designed to support the maintenance of the Kingdom’s fleet of UH-60 Black Hawk, AH-64 Apache, and CH-47F Chinook helicopters, as well as other aircraft.

#2- Training services: The second USD 500 mn approval (pdf) is for an aviation training services program, including comprehensive flight and maintenance training led by US Army instructors for crews operating AH-64E Apache, CH-47F Chinook, UH-72A Lakota, and UH-60L/M Black Hawk helicopters.

IN CONTEXT- Crown Prince Mohammed Bin Salman’s visit to Washington is starting to bear fruit. The visit saw the signing of a US-Saudi strategic defense agreement facilitating access for US defense firms into Saudi Arabia and securing “burden-sharing” funds from the Kingdom, as well as a defense sale package that included future deliveries of the long-anticipated F-35 jets and an agreement to sell nearly 300 US tanks.

  • Saudi was also designated as a major non-Nato ally, paving the way for more financing and priority access for military equipment, as well as participation in joint research efforts.
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7

STARTUP WATCH

Cybersecurity startup Cognna closes series A funding

AI-driven cybersecurity firm Cognna closed a series A funding round at USD 9.2 mn, according to a press release. The round was led by Impact46 with participation from BNVT Capital, Vision Ventures, and Tali Ventures.

Use of proceeds: The funds will be utilized to accelerate Cognna’s global expansion, enhance its Agentic AI capabilities, and strengthen its leadership in AI-powered Security Operations Centers.

About Cognna: Founded in 2023 by Ziyad Alshehri (LinkedIn) and Ibrahim Alshamrani (LinkedIn), the company develops AI-powered tools to help organizations detect and respond to threats. Its Nexus platform combines automated processes with human oversight to manage cybersecurity operations efficiently, reduce costs, and integrate quickly into existing systems.

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8

ALSO ON OUR RADAR

UK’s Buro Happold is the lead design consultant for Expo 2030

CONSTRUCTION-

Buro Happold is the lead design consultant for Expo 2030: UK-based engineering consultancy Buro Happold inked an agreement with Expo 2030 Riyadh Company to become the lead design consultant for the event, according to a press release. It will provide comprehensive design and technical services spanning the detailed master plan, event and legacy-phase planning, infrastructure and utility design, public-realm and landscape work, and engineering support during construction.

RETAIL-

Cenomi Centers officially renamed Al Nakheel Mall Dammam to Westfield Dammam, the first mall in the Kingdom to carry the global brand under a plan that will extend to rebranding two additional centers in Riyadh and Jeddah next year, according to a press release (pdf). The rebranding is expected to attract several international brands preparing to enter either Westfield Dammam or the Eastern Province for the first time in the coming months.

REMEMBER- Cenomi Centers signed a 10-year franchise agreement — renewable for an additional 10 years — with France-based Unibail-Rodamco-Westfield back in May to bring the Westfield brand to its shopping centers in the Kingdom. The agreement included the rebranding of up to eight of Cenomi’s malls as Westfield centers, beginning with three major sites in Riyadh, Jeddah, and Dammam.

MINING-

The Industry and Mineral Resources Ministry opened up bids for three mineral exploration licences spanning 13k sq km, according to a statement on Monday. The licenses cover new belts in Madinah, Makkah, Riyadh, Qassim and Hail, prospective for gold, silver, copper, and zinc. Companies can apply through the Taaden platform.

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9

PLANET FINANCE

Pundits pencil-in rate cut next week as Fed divisions widen on where the cycle should stop

The see-sawing of expectations for what’s to come at next week’s US Federal Reserve interest rate meeting continues, with expectations for a 25 basis point cut now at 89.2%, according to CME's FedWatch Tool, up from 63% a month ago. This would come on the heels of two 25 bps cuts in September and October, with the latest cut bringing the target range down to 3.75-4% as policymakers grappled with weak labor data and murky economic indicators in the wake of the government shutdown.

This also comes as a lack of consensus among Fed officials deepens. Fed Chair Jerome Powell noted “strongly differing views” within the rate-setting committee over whether to focus on price stability or maximum employment.

Policymakers are also split about what a neutral rate — the level that neither stimulates nor restrains the economy — would be ahead of Fed officials giving their predictions next week, with estimates diverging more than at any point since 2012, Bloomberg reports. Estimations from September put it between 2.6-3.9%, with 19 officials coming up with 11 different predictions.

There’s always some disagreement over where the neutral rate — also known as r-star — is, especially because it can only be inferred and later judged in the rearview mirror, but this time, the degree of disagreement is more intense — and potentially, more consequential. “It starts to become potentially a binding constraint for some of the more hawkish Fed members,” Stephen Stanley, chief US economist for Santander, said. “It definitely means that each successive cut becomes harder and harder.”

AI + tariffs influencing the outlook: Broader AI adoption could lift productivity and push the neutral rate higher, according to Minneapolis Fed President Neel Kashkari. Investment in AI, along with supportive fiscal and monetary policies, were cited as factors helping the global economy cope with US President Donald Trump’s tariff agenda, according to an OECD report cited by Bloomberg. Fed Governor Stephen Miran, on the other hand, maintains that US policies like tariffs and tax cuts may be pushing neutral rates lower, supporting the case for more easing.

Looking ahead: A changing of the guard at the Federal Reserve in 2026 could also reshape views on the neutral rate, with incoming policymakers expected to lean toward lower interest rates — adding another layer of uncertainty to the path of future policy.

Speaking of: US President Donald Trump is set to announce the new Fed Chair early next year, he said last week, and White House economic adviser Kevin Hassett is a top contender. His election would grant Trump a 5-2 majority on the board of the central bank.

MARKETS THIS MORNING-

Asian markets are mostly in the green after Wall Street indices rallied yesterday, with South Korea’s Kospi leading gains with a c.1.1% rise, Japan’s Nikkei climbing more than 0.7%, and China’s CSI 300 adding 0.2%. Hong Kong’s Hang Seng was the only outlier, dipping 0.7%. Over on Wall Street, futures point to another strong open on the heels of the tech-fueled rally.

TASI

10,536

-0.1% (YTD: -12.46%)

MSCI Tadawul 30

1,384

+0.1% (YTD: -8.3%)

NomuC

23,719

-1.2% (YTD: -24.6%)

USD : SAR (SAMA)

USD 3.75 Sell

USD 3.75 Buy

Interest rates

4.5% repo

4.0% reverse repo

EGX30

40,626

-0.2% (YTD: +36.6%)

ADX

9,747

+0.4% (YTD: +3.5%)

DFM

5,837

+0.4% (YTD: +13.2%)

S&P 500

6,829

+0.3% (YTD: +16.1%)

FTSE 100

9,702

0.0% (YTD: +18.7%)

Euro Stoxx 50

5,686

+0.3% (YTD: +16.1%)

Brent crude

USD 62.45

0.0%

Natural gas (Nymex)

USD 4.86

+0.3%

Gold

USD 4,250

+0.7%

BTC

USD 91,655

+6.0% (YTD: -2.1%)

Sukuk/bond market index

918.71

-0.03% (YTD: 1.84%)

S&P MENA Bond & Sukuk

151.91

-0.3% (YTD: +8.6%)

VIX (Volatility Index)

16.59

-3.8% (YTD: -4.4%)

THE CLOSING BELL: TADAWUL-

The TASI was down 0.1% yesterday on turnover of SAR 3.8 bn. The index is down 12.5% YTD.

In the green: Al Masar Al Shamil (+18.4%), Albabtain (+3.6%) and Acwa Power (+3.3%).

In the red: Herfy Foods (-5.4%), Chubb (-4.7%) and Sidc (-4.6%).

THE CLOSING BELL: NOMU-

The NomuC was down 1.2% yesterday on turnover of SAR 12.5 mn. The index is down 24.64% YTD.

In the green: Almodawat (+7.2%), Wajd Life (+6.0%) and Mufeed (+5.2%).

In the red: Taqat (-10.0%), NBM (-10.0%) and Alfakhera (-9.8%).

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CALENDAR

NOVEMBER

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

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 December (Sunday): Beginning of real estate registration for 253.2k properties in 499 neighborhoods across Riyadh, Qassim, Makkah, and Hail.

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.

16 February (Monday) King Salman Stadium design-and-build contract prequalification submission deadline.

26 February (Thursday): Title deed registration deadline for 142.8k properties across 104 neighborhoods in Hail.

MARCH

12 March (Thursday): Deadline for real estate registration for 253.2k properties in 499 neighborhoods across Riyadh, Qassim, Makkah, and Hail.

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:

  • 2H: Sabic’s USD 6.4 bn Fujian project in China to start production 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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