Gigaproject spending slows as focus shifts to Riyadh, real estate financing

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WHAT WE’RE TRACKING TODAY

THIS MORNING: No production hikes for 1Q 2026, Opec+ decides

Good morning, ladies and gents. We’re leading this morning with a beefy update from intelligence platform Meed on the state of gigaprojects in the Kingdom. The gist? We’re seeing a significant slowdown in contract awards this year, as Neom stalls and the focus shifts to more mature projects, infrastructure, and event-linked developments.

HAPPENING TODAY-

#1- Cherry Trading’s shares is set to begin trading on the main market today, allowed to fluctuate within a 30% range for the first three days. We’ll be watching this one closely to see if Cherry can turn the tide of TASI’s muted debuts this year, after the strong demand for its institutional offering saw it nearly 85.6x oversubscribed.

Al Masar Al Shamil Education will also follow tomorrow. The debut follows the company’s SAR 599 mn IPO, which saw strong demand; the institutional tranche closed 102.9x oversubscribed, and the retail portion, representing 30% of the offer, was 1.21x covered. Priced at SAR 19.50, the listing sets Al Masar up with a SAR 2 bn market cap.

It could be a bad time for main market debuts, after TASI closed November down 9.1%, its worst monthly loss since mid-2022. We’re waiting on official figures from Tadawul to unpack the monthly performance.

#2- Industrial Transformation Saudi Arabia (ITSA) kicks off today at the Riyadh International Convention & Exhibition Center, running through Wednesday, 3 December. Organized by the Industry and Mineral Resources Ministry in cooperation with Germany’s Deutsche Messe AG and Riyadh Exhibitions Company, ITSA is an extension of the industrial fair first launched in Hannover, Germany in 1947. The event focuses on automation technologies, AI, energy, and advanced manufacturing.

#3- The ISOCARP World Planning Congress begins today in Riyadh. The four-day global event gathers policymakers, planners, academics, and practitioners to discuss how cities can adapt to multiple crises, leverage advancements like AI, and implement strategies to improve well-being and build resilience for future generations.

OIL WATCH-

No production hikes for 1Q 2026: Opec+ agreed to keep oil output quotas unchanged for the first quarter of 2026 in its meetings yesterday, according to a statement. The decision keeps 3.24 mn bbl/d of production cuts in place, representing some 3% of global demand.

The cartel also approved a mechanism to assess the maximum production capacity for member states, which will be used to set output baselines starting in 2027. An assessment will take place in the first nine months of 2026 to decide the following year’s output quotas, unnamed sources told Reuters.

ICYMI- The eight producers increasing output this year have lifted targets by about 2.9 mn bbl / d between April and December, and the increase in supply was among factors that sent Brent crude’s price down 15% YTD as of Friday’s close to USD 63 / bbl.

"The message from the group was clear: stability outweighs ambition at a time when the market outlook is deteriorating rapidly," head of geopolitical analysis at Rystad Energy Jorge Leon told Reuters.

US-based DeGolyer and MacNaughton will reportedly carry out most of the work for the review, unnamed delegates told Bloomberg, adding that an Indian company will be selected to review quotas for sanctions-afflicted Russia and Venezuela, as well as Iran which objected to baseline calculations. The three countries are reluctant to let foreign companies audit their energy industries, the business information service says.

WATCH THIS SPACE-

Sabic’s USD 6.4 bn Fujian project in China is slated to start production in 2H 2026, CEO Abdulrahman Al Faqih told Al Arabiya on the sidelines of the Boao Forum for Asia in Riyadh. The company is divesting non-core assets, including Hadeed, Alba, and select plastic applications, to concentrate on high-growth Asian markets, Al Faqih said.

REMEMBER- Sabic’s Fujian project is the world’s largest ethylene cracker with an annual capacity of 1.8 mn tons. The complex comprises 16 units — with Sabic supplying nine out of 12 technologies involved in production.

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THE BIG STORY ABROAD-

It’s a quiet Monday morning in the global business press, with no single story dominating the headlines. Among those receiving attention:

#1- Israeli Prime Minister Benjamin Netanyahu has formally requested a presidential pardon from President Isaac Herzog in his ongoing corruption trial, citing the “public interest” in ending the case. In his letter to the president, Netanyahu said the trial has become a source of “deep public division” and that ending it would help restore national unity. The move marks a reversal for Netanyahu, who has long denied the charges and vowed to prove his innocence. Herzog confirmed receiving the request and said it would be reviewed carefully. (CNN | Associated Press | Reuters | Guardian)

#2- Pope Leo arrived in Beirut yesterday for a three-day visit aiming to promote peace and unity in Lebanon, following an Israeli strike on southern Beirut that killed five people. During his first foreign trip since his election in May, the pontiff is scheduled to meet political and religious leaders, celebrate mass on the Beirut waterfront, and visit the site of the 2020 port explosion. (CNN | Washington Post | Reuters | Guardian)

CIRCLE YOUR CALENDAR-

The Aleqtisadiah Event forum is slated to make its debut in April 2026, featuring ministers, officials, and CEOs from the AI and advanced technology sectors. The forum was formed via a partnership between Aleqtisadiah newspaper and the Global Intelligence Association for Training.

Gigaproject spending slows as focus shifts to Riyadh, real estate financing -Meed

Gigaprojects’ outlook in the years ahead: Fiscal pressure and mounting uncertainty over mega-schemes like Neom’s The Line led to a significant slowdown in Saudi Arabia’s gigaproject spending, reaching a five-year low in 2025, Meed’s head of content and research Ed James said in a webinar attended by EnterpriseAM.

By the numbers: Gigaproject contract awards declined sharply this year, with only USD 8.5 bn awarded so far — well below last year’s total of USD 29.3 bn and 2023’s peak of USD 34.6 bn. Most recent awards were concentrated in construction and transport infrastructure, including roads, utilities, and buildings. Total awards since the gigaprojects program started currently stand at some USD 116 bn.

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

WHAT HAPPENED THIS YEAR?

The crunch in awards comes as the Public Investment Fund is taking stock of its priorities, facing tighter finances primarily due to lower oil prices. Development efforts are now concentrated on the Riyadh region and key event-tied infrastructure for the upcoming Expo 2030 and the 2034 Fifa World Cup.

A big shift: Gigaprojects have accounted for roughly 20% of Saudi project awards over the past 5-7 years, as per Meed’s tally. The five flagship developments — Neom, Red Sea Global, Qiddiya, Roshn, and Diriyah — represented 77% of spending on gigaprojects, followed by other PIF subsidiaries (9%) and non-PIF megaprojects (14%).

Market sentiment: A live poll of some 400 attendees revealed 58% are not confident gigaproject spending will return to 2023 levels. Still, half the respondents are maintaining their focus on gigaprojects, while 33% said they have increased their level of engagement.

ICYMI- A few mega-developments were launched in 2025: PIF subsidiary Rua Al Haram Al Makki launched the King Salman Gate project in Makkah earlier this year, a 12 mn sqm mixed-use development next to the Holy Mosque that will host up to 900k worshippers. A USD 2 bn National Athletics Stadium is planned at Qiddiya, targeted for completion by 2030. Early works have also begun on the Riyadh Expo 2030 site, which needs to be operational by October 2030.

All eyes on Riyadh: Most awards this year have clustered in and around Riyadh, specifically the Diriyah, Qiddiya, and Roshn gigaprojects. This makes sense as Qiddiya is in relatively mature stage and will start its first operational phase soon, while Diriyah is the centerpiece of Riyadh’s preparation for Expo 2030 and the 2034 World Cup. Major investments are also flowing into supporting infrastructure projects like King Salman Park, Sports Boulevard, and King Salman International Airport.

MEANWHILE- Neom doubts continue to bubble: The Line and Magna projects along the Gulf of Aqaba coast are unlikely to progress soon, as the USD 500 bn Neom project undergoes a comprehensive review due to cost challenges and limited commercial feasibility, according to Meed. The consensus is that The Line, with an estimated USD 50 bn cost per module, is currently commercially unfeasible, leading to a near-complete pause in work.

Most people agree, it seems: Some 80% of attendees think The Line is unlikely to proceed in its current form.

BUT- Neom’s industrial city Oxagon and luxury island Sindalah are still expected to press ahead, with the latter undergoing some reworking and its development likely to be transferred under tourism veterans at Red Sea Global.

A longer time horizon: The gigaproject timeline is moving beyond 2030, extending into the 2030-2040 horizon and beyond as Vision 2040 emerges, James said. (Neom is already being positioned as a “100-year project.”) Projects that have yet to launch or are still in early development are expected to face funding challenges, prompting a stronger emphasis on securing alternative financing and investments to progress.

Projects are shifting to real estate financing, private sector: Gigaproject entities, including Roshn, have been increasingly relying on real estate-driven funding models, including off-plan sales, to reduce dependence on government spending. Public-private partnerships are also gaining momentum, particularly in labor accommodation, wastewater treatment, power, and mobility.

The Q-Express high-speed rail — now in tender — is the region’s first rail public-private partnership.

A HEFTY PIPELINE-

Saudi Arabia holds the GCC’s largest future project pipeline at USD 1.65 tn — nearly equal to the rest of the region combined. Construction accounts for most of the pipeline (USD 629 bn), followed by transport, power, and water. Much of the future spending is listed as mixed-use due to limited visibility on contract packages, James said.

More than USD 50 bn in gigaproject packages are currently out to tender or under evaluation, though award delays persist pending budget approvals. A further USD 47 bn is in the prequalification phashe, and nearly USD 90 bn in design. Active tenders include Q-Express rail, King Salman Airport’s iconic terminal, Neom-related renewables, QIC infrastructure, and New Murabba.

Are there more gigaprojects under wraps? An examination of PIF financials shows several wholly-owned subsidiaries with unannounced gigaprojects, suggesting a larger future pipeline, Meed says. Key developments include Central Riyadh (a 15 sq km regeneration project), Project Lime (Dubai Gate Zone), Project W (AlUla), Project Ghazal, Project Rise (North Riyadh), Project Dunes (Shaybah), and Project Paradise (southwest Riyadh).

Many of these projects are in design or early tendering, with several expected to launch in the next 12-24 months, indicating the current pipeline could be further expanded, James said.

So.. what’s next? A sharp uptick in spending is unlikely in the near term, as the PIF is finalizing its updated five-year strategy expected to be unveiled early next year. The fund is signaling a pivot toward AI and emerging sectors, while still prioritizing Expo- and World Cup-related infrastructure, King Salman Park, Sports Boulevard, and King Salman International Airport. Transport also remains a big focus, including roads, bridges, metro extensions, the Riyadh Link, the Saudi Land Bridge, and the planned expansion of Maaden’s minerals railway.

GDP to grow at 5% clip in 2026 -NBK

Non-oil sectors going strong: The non-oil economy is forecast to expand at 4% this year and the next, buoyed by greater gains from retail and hospitality activities alongside tourism. “These activities collectively account for almost 21% of non-oil GDP, up from 18.5% in 2022. Manufacturing and transportation will also figure more, supported by rising industrial capacity and continued investment in logistics or transport,” the report said.

MEANWHILE- Oil GDP is forecast to increase by 7.8% y-o-y in 2026, up from a 5.8% rise in 2025. The lender expects oil production to rise to 10.22 mn bbl / d in 2026, compared to 9.48 mn bbl / d projected for 2025.

Inflation is expected to remain contained at around 2% in 2026 amid a slowdown in rental inflation — a component that constitutes about 20% of the CPI basket — which recorded a 5.7% y-o-y increase in October.

Fiscal deficit is seen narrowing to 4% in 2026 from an expected 5% in 2025, the bankprojects. The wider 2025 shortfall is attributed to expected reduced oil revenues from Aramco due to lower oil prices, though increased oil production and buoyant non-oil revenues are expected to soften the impact.

The government is exercising greater fiscal discipline, with expenditure growth set to decelerate in 2025 before recording 2.5% growth in 2026. This fiscal position comes as the central government debt is set to rise to 33% of GDP in 2026, up from 30.5% in 2025.

How does this compare to other forecasts?

ICAEW expects Saudi Arabia's GDP growth to slow down slightly to 4.3% in 2026;
Fitch’s BMI sees Saudi’s GDP growing 3.8% in 2025 and accelerating to 4.1% in 2026;
The IMF upgraded its growth forecasts to 4% in both 2025 and 2026;
The World Bank has a more dispersed forecast of 2.8% in 2025 and 4.5% in 2026.

Consumers confident about the economy, personal finances -Ipsos

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The Kingdom’s Primary Consumer Sentiment Index (PCSI) hit 70.6 in November 2025, signaling strong consumer optimism, according to global market research and consulting firm Ipsos’ latest report (pdf). The score came 21 points higher than the global average of countries included in the survey.

The gist: We’re still far more satisfied with our personal financial positions and are more optimistic about the economy than the global average — but ever-so-slightly less certain about job security than the rest of the world.

Going the right way: Economic expectations came in at 75.8 points — significantly higher than a global average of 42.0. Some 91% think the country is headed in the right direction, unchanged from October. Almost two-thirds view the economy in their local area as strong, topping surveyed countries, while only 3% characterize it as weak. Meanwhile, 82% expect the economy to become stronger over the next six months, with just 4% seeing a downturn.

Unemployment remains the top concern for consumers in Saudi, cited by 48% of those surveyed. Inflation, taxes, climate change, and social inequality followed.

Personal financial conditions scored 74.0 — higher than the global average of 57.8. Some 45% of respondents say they’re currently in a strong position, and 73% expect theirs to get stronger in six months.

Employment confidence was at 57.4 — slightly below a global average of 59.9. Some 55% know someone who lost their job in the last six months due to the economy. However, 76% said they’re more confident about job security now compared to six months ago, while almost two-thirds find it unlikely that someone they know will lose their job in the next six months.

In the mood for spending: 74% are more confident in their ability to invest and save for the future, while 73% are more comfortable making a major purchase, and 77% feel better about buying durable goods for their households compared to six months ago.

Methodology: The survey was based on self-administered online interviews with a sample of 500 respondents aged 15 and above from the general public.

King Khaled Airport to greenlight operational revamp in 1Q 2026

King Khaled Airport gearing up for overhaul: Riyadh’s King Khaled International Airport is set to undergo a major operational transformation plan across its terminals to boost handling capacity and reduce wait times, according to a statement. The changes are slated for implementation in 1Q 2026 and will be confirmed once all airport stakeholders and airlines are ready.

The shakeup: Terminals 1 and 2 will serve international flights operated by Saudi carriers, while Terminals 3 and 4 will be dedicated to domestic flights, and Terminal 5 will be designated for international flights by foreign carriers. The new reallocation is set to be rolled out after redesigns are completed to preserve the airport’s original design.

The airport is rapidly expanding: Riyadh Airports is working on upgrading Terminal 2 infrastructure, including an overhail replacing of electromechanical, information, security, and telecommunication systems, and architectural interior. Meanwhile, US multinational infrastructure consulting firm Aecom has been involved in the expansion of King Khaled Airport, initially featuring the revamp and expansion of Terminals 3 and 4.

The long vision: The current airport will be enveloped in the future King Salman International Airport, poisd to be one of the world’s largest, targeting to accommodate up to 120 mn passengers by 2030 and 185 mn by 2050. Construction is set to begin in 2Q 2026, with a targeted initial capacity of 40 mn passengers, the airport’s CEO Marco Mejia told Aleqtisadiah last week.

IN CONTEXT- The new modus operandi will come a few months after Saudi’s launch of Riyadh Air — a key piece of the push to turn Riyadh into its own regional mega aviation hub, and part of the Kingdom’s ambition to diversify the economy beyond oil. The newly launched airline aims to serve 100 cities by 2030 by adding a destination every two months.

Nomu opens up to more investors in push to revive liquidity

Nomu’s investor base has just broadened to include bachelor’s graduates in finance, investment, and accounting under newly approved rules that update and expand a draft framework (pdf) floated by the Capital Market Authority (CMA) in March. The changes — effective immediately — widen the range of individuals eligible to trade on the parallel market, easing long-standing entry barriers as regulators look to bolster liquidity and revive a market that has lagged this year.

What’s changed: Only those with a master’s degree or specialized professional credentials, such as the SOCPA fellowship, were qualified to trade on Nomu before the new amendments. The revised criteria open the door to younger, early-career practitioners who were previously excluded.

ALSO- A lighter trading load: The threshold for individuals qualifying through trading activity was cut to SAR 20 mn in total trades over the past 12 months, compared with the earlier requirement of SAR 40 mn spread across at least 10 trades each quarter, scrapping the quarterly minimum facilities entry for investors who trade in larger but less frequent blocks.

Together, the lower threshold and simpler calculation are designed to give the market a larger, steadier flow of active participants, which has a direct impact on liquidity.

AND- BoDs get a free pass: Board members and board-committee members of Nomu-listed companies are now automatically qualified for investing in the parallel market, a status they previously held only if they met the broader, stricter qualified-investor criteria.

The new Nomu-only label: The framework also swaps out the generic “qualified investor” label for the Nomu-specific “qualified investor in the parallel market.” The change tightens compliance and removes ambiguity that previously blurred the line between Nomu eligibility and the broader qualified investor.

IN CONTEXT- The parallel market is facing a slump, as NomuC delivered YTD losses of 22.5% (as of Thursday). The cooling was clear in 3Q, where the index held flat near 25.5k points as total value traded dropped to SAR 2.05 bn from SAR 2.98 bn in 3Q 2024. The index’s average turnover also slid to SAR 31.5 mn during the quarter, down from SAR 45.9 mn in the same period last year.

Gulf General Cooperative Ins. plans capital raise as BlueFive proposes share subscription

M&A WATCH-

Gulf General Cooperative Ins. signed a non-binding offer with BlueFive Investments Holding for to acquire new shares from a potential capital increase, it said in a disclosure to Tadawul. BlueFive would buy all new shares in the company, with existing shareholders’ pre-emptive rights suspended. The offer is valid until definitive agreements are signed, two months from 24 November, with the door open for extension.

What’s next: The offer still needs regulatory approvals from the Ins. Authority, Capital Market Authority, and the company’s shareholders. Gulf General also needs to first reduce its capital to cover accumulated losses, then issue new shares at SAR 10 each to BlueFive.

REGULATION WATCH-

The Kingdom approved a new Geographical Indications Protection Law to safeguard locally produced goods linked to specific regions, such as Taif roses, Saudi dates, and Najran honey. The law — which will go into effect 180 days after its publication last Friday — law establishes a national registry under the Saudi Authority for Intellectual Property and empowers it to issue executive regulations. These regulations cover agricultural, food, artisanal, and industrial products to protect their authenticity and market value at home and abroad.

Strict penalties for violations: The law bans unauthorized or misleading use of geographical indications, with penalties ranging from one month to three years in jail, and fines of SAR 5k to SAR 1 mn. Offenses include counterfeiting, mislabeling, misleading advertising, and unfair competition. Courts can confiscate or destroy counterfeit goods and tools, publish judgments at the offender’s expense, and suspend or close businesses for repeat violations.

Gold bulls see more upside as central bank buying hits new records

Gold is back in the spotlight as institutional investors turn increasingly bullish on the precious metal, driven by a rare alignment of macro forces — Fed rate-cut expectations, record central-bank accumulation, and deepening uncertainty across risk assets, according to a new Goldman Sachs poll conducted on its Marquee platform. Nearly 70% of respondents in the poll — which surveyed more than 900 institutional clients — expect gold prices to rise further by the end of 2026, with 36% betting on prices above USD 5k per ounce next year.

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

Respondents identified central-bank purchases and fiscal concerns as the two biggest drivers of gold’s 2026 outlook. The most common view: official-sector buying will keep gold supported even if US growth slows. In parallel, Goldman’s co-head of global commodities research, Daan Struyven, told Bloomberg TV last week that the bank sees “nearly 20% additional upside by the end of 2026,” forecasting USD 4.9k per ounce by next year (watch, runtime: 2:10). The key drivers, he said, are “structurally higher central bank purchases” since 2022 and renewed “inflows into gold ETFs once the Fed begins cutting rates.”

That doesn't seem to be just a speculative trade, as the surge in the precious metal prices is being underpinned by record official sector demand. The World Gold Council’s (WGC) Central Bank Gold Reserves Survey 2025 shows the biggest official-sector buying spree in more than 70 years. Central banks bought 1.1k tons of gold in 2022 — the most since the WGC began tracking reserves in 1950 — and stayed above 1k tons in 2023. The momentum has continued, with around 450-500 tons of central lenders’ gold purchases in the first half of 2024 alone.

The shift is structural, not cyclical. Some 81% of central banks now expect global gold reserves to rise further, while nearly one-third expect the USD’s reserve share to decline. The motivations are consistent — store-of-value appeal, crisis resilience, and de-dollarization — with China, India, Turkey, Singapore, and Poland among the most active buyers.

Rate-cut expectations are adding fuel to the rally, with traders now seeing an 86.4% chance of a Fed cut in December, according to CME Group's FedWatch tool. That matters because lower US rates reduce the opportunity cost of holding gold — a non-yielding asset — and typically pull new buyers into ETFs.

Spot prices are already responding, with gold hitting a two-week high of USD 4.2k on Friday and is on track for a 3.6% weekly gain and a 5.2% rise this month. Futures also climbed, with the February contract settling at USD 4.2k per ounce.

High prices have slowed physical buying in India and China, where demand is typically strongest heading into year-end. But analysts say macro drivers — rate expectations, central bank flows, geopolitical hedging — matter far more right now. As long as the Fed is moving toward an easing cycle and sovereign buyers stay active, institutional investors expect the gold rally to extend into next year.

MARKETS THIS MORNING-

Asian markets are mixed in early trading this morning — Japan’s Nikkei and the Kospi are both down, while the Shanghai Composite and the Hang Seng are in the green.

TASI	10,591	-0.5% (YTD: -12.0%)
MSCI Tadawul 30	1,389	-0.4% (YTD: -8.0%)
NomuC	23,903	-0.5% (YTD: -24.1%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.5% repo	4.0% reverse repo
EGX30	40,753	+1.8% (YTD: +37.0%)
ADX	9,747	+0.4% (YTD: +3.5%)
DFM	5,837	+0.4% (YTD: +13.2%)
S&P 500	6,849	+0.5% (YTD: +16.5%)
FTSE 100	9,721	+0.3% (YTD: +18.9%)
Euro Stoxx 50	5,668	+0.3% (YTD: +15.8%)
Brent crude	USD 63.03	+1.0%
Natural gas (Nymex)	USD 4.82	-0.6%
Gold	USD 4,267	+0.3%
BTC	USD 88,564	-2.7% (YTD: -5.1%)
Sukuk/bond market index	919.59	-0.1% (YTD: +1.9%%)
S&P MENA Bond & Sukuk	152.33	-0.1% (YTD: +8.9%)
VIX (Volatility Index)	16.35	-5.0% (YTD: -5.8%)

THE CLOSING BELL: TADAWUL-

The TASI closed down 0.5% yesterday on turnover of SAR 2.1 bn. The index is down 12% YTD.

In the green: Retal (+3.8%), Saudi Cable (+3.4%) and Alandalus (+3.3%).

In the red: Tihama Advertising (-8.3%), Alkhaleej Training (-7.2%) and Sidc (-6.1%).

THE CLOSING BELL: NOMU-

The NomuC inched down 0.5% yesterday on turnover of SAR 22.3 mn. The index is down 24.1% YTD.

In the green: Balsm Alofoq (+9.5%), Meyar (+8.1%) and Adeer (+6.0%).

In the red: Pan Gulf (-9.5%), SPC (-8.1%) and Horizon Educational (-7.4%).

CALENDAR

NOVEMBER

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

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

DECEMBER

1-3 December (Monday-Wednesday): Industrial Transformation Saudi Arabia, Riyadh International Convention & Exhibition Center.

1-4 December (Monday-Thursday): International Conference on Nuclear and Radiological Emergencies, Riyadh.

1-4 December (Monday-Thursday): 61st ISOCARP World Planning Congress, Riyadh.

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

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

7 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:

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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