Hormuz choke + oil volatility is forcing a new construction calculus

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WHAT WE’RE TRACKING TODAY

Egypt cuts red tape for Gulf shipments amid Strait closure

Good morning, all. We have made it to the end of another week of a war that is showing few signs of slowing down.

Limited attacks on the Kingdom continued, with air defenses intercepting drones and missiles over Prince Sultan Air Base, the Eastern Province, Hafar Al Batin, and the Empty Quarter, and no reports of direct hits.

There were some hope of a safeguarded return to Hormuz – but it was all but crushed. Three vessels sustained damage yesterday morning off the UAE and Omani coastline from a “suspected but unknown projectile.”

BUT- Trade flows haven't stopped entirely: Iran is still reportedly going ahead with its oil exports to China and India, with “at least nine sanctioned tankers operating in or around the Strait of Hormuz in the past 24 hours,“ according to maritime risk analyst Martin Kelly.

Watch this space

CUSTOMS — The Egyptian Customs Authority has suspended Advanced Cargo Information (ACI) requirements for transit shipments in and out of Gulf states, according to a circular seen by EnterpriseAM. The three-month suspension comes as Egypt works to both funnel Gulf energy out of the country and goods in as the closure of the Hormuz Strait closes the GCC’s main trade connection with the rest of the world.

The details: Indirect transit shipments heading that will then head to ports in Nuweiba, Ain Sokhna, or Safaga to cross the Red Sea into the Gulf, along with Gulf exports that will arrive in Egypt before moving to a third country are now exempt from preregistration to get an Advance Cargo Information Declaration number before arriving on Egyptian shores.

REMEMBER- This isn’t the only state-led effort to position Egypt as a logistics bridge for the GCC amid the Hormuz Strait closure, with the country offering up its Sumed pipeline that runs from Ain Sokhna to Sidi Kerir and 10 additional Red Sea storage facilities to help export our crude from the Mediterranean.

TOURISM — The war is costing the Middle East’s travel and tourism sector USD 600 mn every day in lost international visitor spending, the World Travel and Tourism Council estimates. Aviation hubs including Dubai, Abu Dhabi, Doha and Bahrain are facing severe disruptions amid Iranian strikes, direc

How long until things get back on track? Tourism demand can recover in as little as two months after the conflict is over, provided governments and the industry “act quickly to restore traveler confidence,” the council said.

FINANCE — Watheeq Capital received the Capital Market Authority’s approval for the public offering of its Watheeq SAR Murabaha Fund, according to an announcement on Tadawul.

Oil watch

IEA opens the emergency taps: In a turnaround, the International Energy Agency (IEA) said it is releasing 400 mn barrels of oil from the 32 member states’ strategic reserves. The barrels will be released over a set time period and be allocated according to each country’s needs.

We were expecting things to go differently after the G7 and IEA said they are holding off on releasing oil reserves earlier this week. We suspect that Iran’s Revolutionary Guards recently saying it wouldn’t allow “one liter of oil” to leave the region should US-Israeli strikes continue and Brent briefly hitting USD 120 bbl had something to do with the change of heart.

How much difference will 400 mn make? To put it into perspective, pre-war, around 20 mn barrels passed through the Strait of Hormuz everyday, representing around 25% of maritime oil trade. This means that the barrels should cover around 20 days’ worth of supply.

IN CONTEXT- The 400 mn figure is significantly larger than the 182 mn released by the agency when Russia invaded Ukraine, making it the largest move of its kind.

Iran’s message: “Get ready for oil to be USD 200 per barrel,” a military spokesperson said in comments picked up by Reuters.

Over at Opec+, the group said Saudi Arabia had hiked production in February before the war as part of a contingency plan anticipating that a US strike on Iran could disrupt supplies, Reuters reports, citing the group’s monthly report (pdf). The Kingdom’s production came in at 10.9 mn bbl / d during the month. Opec+ had previously agreed to keep output steady through 1Q of this year before raising production by 206k bbl / d in April.

Oil price rises, despite all efforts: Brent crude surged beyond the USD 100 / bbl mark this morning after Oman evacuated all vessels from its key oil export terminal and fresh attacks on two tankers in Iraqi waters, Bloomberg reports. These updates raised fears that we could be looking at supply disruptions that extend beyond the Strait of Hormuz.

Data point

SAR 16.1 bn — that’s the total value of consumer spending via point-of-sale (PoS) in the Kingdom in the week ending 7 March, marking an 11% w-o-w increase and a strong rebound in the first week following the outbreak of the US-Iran war, according to the Saudi Central Bank’s latest weekly report (pdf). The recovery follows a relatively sluggish February, with the number of transactions climbing 7.4% w-o-w to 226.2 mn.

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The big story abroad

Making headlines this morning is the US’ plan to release 172 mn barrels of oil from its emergency reserve, as part of a coordinated effort by the International Energy Agency to curb surging energy prices triggered by the Iran war. The Trump administration will start releasing barrels over the coming weeks and over a 120-day period.

^^ We have more on the IEA’s plan to release 400 mn barrels of oil in the news well, above.

ALSO- Several international outlets are taking note of how much the US has spent on its war on Iran — the bill came to an estimated USD 11.3 bn in the first six days of the campaign on the Islamic Republic.

Meanwhile, on Wall Street: Alternative investment firm Cliffwater has placed a 7% cap on redemptions of its flagship private credit fund, after investors tried to withdraw some 14% of shares — one of the largest requests seen in the market. Withdrawals from the fund came amid growing concerns over the quality of loans linked to software companies whose business models are now under threat from advancements in AI tech. Hours after news of the cap came to light, Morgan Stanley followed suit with similar limits.

Hormuz choke + oil volatility is forcing a new construction calculus

The Strait of Hormuz crisis is creating a volatile cost-push trap for Saudi Arabia’s construction sector, threatening to upend the economic calculus that fueled the Kingdom’s recent construction boom with a nasty mix of surging oil prices and choked logistics. Since the strait’s closure, oil briefly touched USD 120 / bbl on Monday — the highest since June 2022 — before easing to USD 87.8 on hints of US de-escalation, leaving the industry on edge.

Why it matters

Oil is a primary construction driver, comprising 80% of input costs, affecting the cost of materials like steel, cement, and aluminum, as well as transport, Construction Week reports. “The impact would likely be felt through higher logistics costs, longer delivery times, and potential material shortages,” Craig Finlayson, regional senior director at Currie & Brown, tells EnterpriseAM.

The core issue, however, is volatility. “When energy markets become unstable it becomes much harder for contractors and clients to forecast costs and price projects with confidence,” Finlayson said. This shift moves the industry away from a demand-driven boom toward a period of supply uncertainty that is already resulting in contract delay notices as the chokepoint at Hormuz restricts the movement of both crude and construction materials, he said.

Even with the Red Sea, the Kingdom’s projects will feel the pinch: While projects like Neom and Red Sea Global utilize direct Suez Canal routes, developments in Riyadh and the Eastern Province rely on just-in-time deliveries through the Strait. The ports of Dammam and Jubail — critical entry points for Asian steel and MEP equipment — sit on the wrong side of the chokepoint, and even a temporary disruption creates lead-time uncertainty that is nearly impossible to price into active contracts, Construction Week said.

Looking back

Haven’t we seen this before? Not really. Unlike the 2022 windfall where USD 120 oil fueled an 8.7% GDP growth and accelerated giga-projects, the current physical chokepoint at the Strait of Hormuz has flipped the economic equation. “The difference now is that the key risk is supply chain disruption rather than simply higher oil revenues,” Finlayson said.

What this means: This leaves the Kingdom facing rising inflationary costs without the assured export revenue to offset the bill. For contractors, this means absorbing oil volatility — which drives 80% of input costs — without the trickle-down liquidity typical of a standard oil boom.

At USD 80 per barrel, the market is anxious — at USD 100, it shakes. Based on the 2022 precedent, analysts at Wood Mackenzie warned Construction Week that a breach of the USD 100 mark — highly possible if Hormuz remains contested — would trigger a 22% spike in structural steel and a 12% rise in cement prices. For now, Oxford Economics expects Brent crude to average USD 79 / bbl in 2Q 2026 — a USD 15 upward revision from February estimates — before potentially retreating if supply conditions normalize.

How contractors might react

For new contracts, contractors are “likely to begin pricing higher risk premiums” and adjust bids to hedge against the volatility, Finlayson said. This is “particularly challenging” for fixed-price agreements as the full weight of energy hikes and logistics disruptions has yet to filter through the supply chain, leaving contractors wary of cost risks they cannot confidently forecast.

For projects already underway, the impact will depend heavily on commercial terms. Those with escalation or fluctuation clauses may survive, but contracts without those mechanisms “could come under pressure if exceptional price increases materialize,” Finlayson noted. Where supply chain disruption leads to significant cost increases or delays, contractors are expected to rely on contractual relief provisions such as force majeure or exceptional event clauses, he said.

Find something certain and hold it tight: Finlayson advises clients to “protect certainty wherever possible.” He suggests “reviewing procurement strategies, diversifying supply chains and ensuring contracts include appropriate mechanisms to manage potential cost volatility.”

Our take? The industry may need to shift logistics to bypass the Strait of Hormuz entirely. By diverting materials to Red Sea ports like Jeddah or Yanbu, developers can prioritize certainty over immediate cost, despite higher inland trucking expenses to reach places like Riyadh. MSC has already begun offering inland alternatives to Hormuz, connecting King Abdullah and Jeddah ports to ports in the Arabian Gulf.

Saleh Abdulaziz posts first-day pop

Tadawul’s first IPO of the year shrugs off market jitters: Riyadh-based miner Saleh Abdulaziz Al Rashed’s stock gained 14.4% on day one of trading, closing at SAR 51.50 even as markets continue to navigate the geopolitical fallout from the Iran war. Some 5.9 mn shares traded between a high of SAR 54.20 and a low of SAR 46.96 on the main market.

ICYMI- The IPO — Tadawul’s first of the year, following a bruising 2025 for Saudi equities — raised SAR 251 mn in proceeds through the sale of a 30% stake in the company in a secondary share sale.

The offering was priced more than two weeks before the conflict erupted, locking in investor demand before the Iran war inflated risk premiums. Furthermore, Saudi equities are holding relatively well, with TASI up 2% since the war started, as higher oil prices propped up Tadawul’s biggest blue-chip: Aramco. Morgan Stanley said it was overweight on Tadawul stocks earlier this week.

It could be a while before we see another IPO: Chiro Ghosh, group head of research at Sico Bank, told EnterpriseAM earlier this week that Sico was advising clients to abandon the April-June listing window. With geopolitical risk pushing investors to demand higher premiums, 1H listings are becoming increasingly unattractive for issuers, with momentum building toward 2H 2026 and early 2027, Mustafa Fahim, a senior investment banker added.

ADVISORS- ANB Capital quarterbacked the transaction as financial advisor, lead manager, bookrunner, and underwriter. Receiving agents for the offering included ANB Capital, Alinma Capital, Saudi Fransi Capital, Al Rajhi Capital, Riyad Capital, Albilad Investment, Al Jazira Capital, Alistithmar Capital, Derayah Financial, SNB Capital, Yaqeen Capital, Al Khabeer Capital, Sab Invest, Sahm Capital, GIB Capital, Musharaka Capital, EFG Hermes KSA, Awaed Alosool Capital, and Dinar Investment.

Bahri + Flynas post 2025 earnings

Bahri

The National Shipping Company of Saudi Arabia (Bahri) saw its net income rise 12.1% y-o-y in 2025 to SAR 2.4 bn, according to a Tadawul disclosure.

The growth was supported by strong performance in the Bahri Oil unit and higher income from equity-accounted investees, which offset declines from Bahri Chemicals, and Bahri Integrated Logistics. Meanwhile, the firm’s revenue grew 9.1% y-o-y to SAR 10.3 bn over the same period.

Dividends: Bahri’s board recommended a dividend payout of SAR 922.9 mn for 2025 at SAR 1 apiece, it said in a separate disclosure. The distribution date is yet to be announced.

Flynas

Budget airline Flynas swung to a net loss of SAR 527 mn in 2025 from a net income of SAR 434 mn a year earlier, after booking SAR 1.08 bn in one-off IPO-related expenses, according to an earnings release (pdf). Excluding these non-recurring costs, adjusted net income rose 28% y-o-y to SAR 556 mn. Meanwhile, revenue grew 3.8% y-o-y to SAR 7.8 bn.

The drivers: Revenue growth was largely supported by the low cost carrier segment, which accounted for about 90% of the total at SAR 7.1 bn — up 4% y-o-y as the airline expanded its network and operating footprint. Hajj and Umrah revenue remained broadly stable at SAR 584 mn, while general aviation revenue fell 6% y-o-y to SAR 174 mn.

Operational highlights: Flynas carried 15.8 mn passengers in 2025, up 7% y-o-y, while capacity increased 11% amid international expansion. The airline expanded its fleet to 71 aircraft by year-end, including eight new A320neos delivered during the year and five wet-leased jets added to support network growth. Flynas also launched 25 new routes and introduced 12 destinations across nine countries.

It’s too early to tell how the conflict will affect Flynas this year, but the airline is in a better condition than some GCC peers and is still operating flights on schedule, CEO Al Mohanna told Asharq Business. Some 30% of the company’s fuel consumption is covered with hedge contracts, Al Mohanna said.

Basic Chemical Industries

Basic Chemical Industries’ net income for 2025 was basically unchanged from the previous year at around SAR 41 mn, it said in a disclosure to Tadawul. Revenues dropped some 3.4% to around SAR 730 mn, which management attributed to a dip in the sales of industrial chemicals, manufactured goods, and polymer sales.

FinMin closes SAR 15.43 bn in sukuk

FinMin raises SAR 15.4 bn with latest sukuk issuance

The Finance Ministry closed its SAR 15.43 bn domestic sukuk offering for March, according to a statement (pdf) from the National Debt Management Center. The issuance comes under the government’s SAR-denominated sukuk program.

The issuance was structured in six tranches:

A 2029 tranche of SAR 1.15 bn at a yield of 4.68%;
A 2031 tranche of SAR 11 mn at 4.82%;
A 2033 tranche of SAR 365 mn at 5.00%;
A 2036 tranche of SAR 3.45 bn 5.24%;
A 2039 tranche of SAR 5.4 bn 5.42%;
A 2041 tranche of SAR 5.1 bn at 5.63%.

Almunajem Foods buys regional rights to Doux and Supreme brands

Almunajem Foods has signed a EUR 20.5 mn agreement with French Poultry to acquire the intellectual property rights for two global brands, it said in a disclosure to Tadawul. The company bought the rights to the Doux and Supreme brands within the Kingdom, the GCC, and Yemen.

Debt window dash

Calm lasted just long enough for borrowers to sprint through it. Investment-grade US issuers sold more than USD 65 bn of bonds on Tuesday — the busiest single day on record — as companies rushed to lock in funding while markets briefly steadied on hopes that the Iran war might not widen, the Financial Times reports.

Amazon led the dash: The company launched 11 USD tranches to raise USD 37 bn, upsized from initial guidance after drawing roughly USD 123 bn in orders, while also preparing an inaugural EUR 10 bn eurosale as it leans further into debt to fund AI infrastructure.

The queue behind it was unusually crowded. Nearly 12 blue-chip issuers — including Honeywell Aerospace and the finance arms of Toyota Motor Corporation and Ford Motor Company — piled in at once, pushing issuance past the previous one-day record set when Verizon Communications sold USD 49 bn in 2013.

Why the urgency? Because in this market, windows barely stay open. One fixed-income trader told the FT that issuances have shifted from being planned “week by week to hour by hour” — stability now comes in tradable bursts.

That urgency follows a week when borrowers mostly stayed on the sidelines. Bloomberg reported that all companies preparing to tap the US market on Monday stood down, while parts of Europe’s pipeline also paused as default risks rose amid the regional war and increasing oil prices.

The repricing underneath has been quick: Europe’s iTraxx Crossover moved above 300 bps for the first time since June, and Asian investment-grade credit default swaps also widened — a reminder that investors are charging more again to insure against repayment risk.

And the cushion is thinning fast: The global high-grade credit index has already shed almost all of its 2026 gains after being up 1.6% just over a week ago, leaving issuers to borrow whenever calm returns before oil, yields, or headlines close the window again.

MARKETS THIS MORNING-

Asia-Pacific markets are a sea of red in early trading this morning after Brent crude jumped beyond the USD 100 bbl mark on reports of fresh attacks on tankers in Iraqi water, raising fears of a wider supply disruption beyond the Strait of Hormuz. It is shaping up to be an equally volatile day of trading on Wall Street, with futures down.

TASI	10,942	+0.1% (YTD: +4.3%)
MSCI Tadawul 30	1,483	+0.3% (YTD: +6.9%)
NomuC	22,238	-0.2% (YTD: -4.5%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	47,195	-1.2% (YTD: +12.8%)
ADX	9,865	-1.3% (YTD: -1.3%)
DFM	5,726	-2.4% (YTD: -5.3%)
S&P 500	6,776	-0.1% (YTD: -1.0%)
FTSE 100	10,354	-0.6% (YTD: +4.3%)
Euro Stoxx 50	5,795	-0.7% (YTD: +0.1%)
Brent crude	USD 100.55	+9.3%
Natural gas (Nymex)	USD 3.26	+1.6%
Gold	USD 5,160	-0.4%
BTC	USD 70,348	+0.6% (YTD: -19.7%)
Sukuk/bond market index	919.04	+0.2% (YTD: 0.0%)
S&P MENA Bond & Sukuk	152.05	+0.4% (YTD: +0.1%)
VIX (Volatility Index)	24.23	-2.8% (YTD: +62.21%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.1% yesterday on turnover of SAR 4.9 bn. The index is down 4.3% YTD.

In the green: Saleh Alrashed (+14.4%), Retal (+4.3%) and Emaar EC (+4.2%).

In the red: Jazadco (-8.9%), Marafiq (-7.1%) and Saico (-7.0%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.2% yesterday on turnover of SAR 12.1 mn. The index is down 4.5% YTD.

In the green: Aictec (+18.1%), Alqemam (+9.8%) and United Mining (+9.5%).

In the red: Academy of Learning (-12.3%), Sahat Almajd (-8.4%) and Alashghal Almoysra (-7.6%).

Jamal Labani, CEO of Solidrange

Jamal Labani, CEO of Solidrange: For a special Ramadan edition of our My Morning Routine column,we spoke to Solidrange CEO Jamal Labani (Linkedin). Edited excerpts from our conversation:

My name is Jamal Labani, and I am the CEO of Solidrange. My background is pretty unconventional for this space. I studied chemistry and pre-med in the US, but after volunteering in a hospital for a year, I realized I definitely didn't want to be a doctor. The reason I chose chemistry in the first place was because I got 100% in all my high school subjects except chemistry, where I got a 92%. It was the hardest subject for me, so I wanted to tackle it.

I’ve always had an entrepreneurial fire in me. Even in college around 2011, I started a pre-Uber delivery service called Ox Arabia, delivering McDonald's to campus and offering special Arab home-cooked meals.

I eventually shifted into compliance and business development . When Saudi Arabia's National Cybersecurity Authority was newly formed around 2018 and the Vision 2030 transformation journey was underway, they wanted compliance in every industry to ensure the best results. In my field of medicine, they introduced Saudi Central Board for Accreditation of Healthcare Institutions. My co-founders and I saw a huge gap because all the standards were written in English, and the medical managers didn't understand English well enough. They were doctors, not compliance experts, so the standards were not comprehensive for them.

We recently raised a USD 2.4 mn seed funding round to integrate AI into our product offerings. I am a non-technical founder running a cybersecurity company. This might seem unusual in our industry, but we are fully backed by major VCs like Seedra and STC’s Tali Ventures because of the incredible team we’ve built and our commitment to listening to our clients.

While I rely heavily on our CTO Ahmad Tahir for the deep technical execution, I’ve taken it upon myself to bridge my own knowledge gap by completing courses from MIT and Harvard in coding and AI. I didn’t do it for the certificates, but because I want to truly understand the technology we are building and how it solves problems. My philosophy has always been that you don't need to write the code yourself as long as you can build a resilient team, understand the broader perspective, and deliver exactly what the market demands.

A core philosophy behind our product is data sovereignty. We all know there are international platforms that end up not having the best interests of our region in mind. When we talk about GRC, we are dealing with classified information. Being a sovereign Saudi product builds immense trust. Clients know everything can be hosted entirely on-premise, meaning they control it entirely, and ensuring there is no external single point of failure. This trust extends beyond Saudi Arabia — we have clients in Qatar and are building strong pipelines in Bahrain, the Emirates, and Kuwait.

We are built on resilience and effort. I'm the biggest failure ever — I've failed way more times than I've succeeded, but I always come back to find out what went wrong. Even our logo reflects this: it's made of hexagons and triangles. I was watching the Discovery Channel and saw how bees use hexagons and how Archimedes used triangles — they are the strongest, most resilient shapes in nature.

I actually love Ramadan. Beyond the spirituality, it's the best time to catch up on work because everybody else is taking time off and relaxing. You don't have this luxury of time for the rest of the year as you're just running from one thing to another. I spend more than 12 hours in the office during the holy month.

I usually wake up naturally around 8-8:30am without an alarm clock. I always make sure I have an hour for myself before starting work. I don't like going to the gym in the morning, so I spend the first 30 to 60 minutes stretching or doing yoga, and reading or listening. Notebook LM has been great to me for the past year — I've listened to more than 60 books.

I arrive at the office around Dhuhr prayer and stay at my desk until Iftar. I keep it simple with a date, Greek yogurt, and coffee, then I head straight to the gym to play basketball for 20 to 30 minutes. Sports have been very important to me mentally to get my energy up and clear my head. After that, I go home, eat my actual breakfast, and jump back to the office.

I pray Isha and two Rakats of Taraweeh at the mosque next to my office, and I'm usually back at my desk by 9:30p . I stay late — one day I left at 2am, and my team was there with me. I never ask them to stay, but they see the work I am putting in and they come too.

I live by two slightly contrasting pieces of advice. I come from a family with very high expectations, and my dad always quoted the Hadith: “God loves that when you do something, you do it well.” But at the same time, I live by the idea that “perfection is the enemy of completion.” You need to find the sweet spot between doing your absolute best and not letting perfection stop you. Sometimes you don't need a ten out of ten right away; you just need to go from zero to one, and then perfect it step by step.

My favorite piece of art is a painting by Jan Steen called “The Happy Family.” I bought a miniature version of it for my house. It depicts the proverb saying “as the old sing, so pipe the young,” a concept that exists across many cultures, from Egypt to Saudi Arabia to Holland.

CALENDAR

MARCH

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

18-23 March (Tuesday-Monday): Eid Al Fitr holiday (TBC).

21 March (Saturday): Fanatics Flag Football Classic, Kingdom Arena, Riyadh.

25-27 March (Wednesday-Friday): Future Investment Initiative Institute, Faena Hotel, Miami Beach.

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, Mandarin Oriental 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 Hotel, Riyadh.

20-22 April (Monday-Wednesday): Saudi Paper and Packaging Expo, Riyadh International Convention & Exhibition Center.

20-22 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh

22-23 April (Wednesday-Thursday): The World Economic Forum’s Global Collaboration and Growth Meeting, Jeddah.

27-29 April (Monday-Wednesday): Aluminum Arabia, The Arena, Riyadh.

28 April (Tuesday): GC Summit Saudi Arabia, Riyadh.

MAY

3-9 May (Sunday-Sunday): The Global Sustainability Expo, The Arena Riyadh Venue.

5-6 May (Tuesday-Wednesday): SkyMove Air Cargo MENA, Riyadh.

19-21 May (Tuesday-Thursday): The Saudi Entertainment and Amusement Expo, Riyadh Front Exhibition and Conference Center.

24-28 May (Sunday-Thursday): Eid Al Adha holiday.

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.

23 September (Wednesday): Saudi National Day.

OCTOBER

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

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

NOVEMBER

24-28 November (Tuesday-Saturday): Aero Middle East and Sand & Fun, Thumamah Airport, Riyadh.

Signposted to happen sometime in 2026:

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