Housing costs log slowest increase in over three years in November

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WHAT WE’RE TRACKING TODAY

Acwa Power sees China as the next big hub of green hydrogen

Good morning, wonderful people, and thank you for your patience this week while we took a few days off to tool-up for 2026.

We take a limited number of publication holidays every year. It’s a chance to work ahead, think big thoughts, and get organized — particularly when we’re planning something new. Breaks like these don’t just allow us to keep our journalism sharp by engaging in a bit of Maoist self-criticism, but to cook up new things.

Uh, Enterprise? Beyond self-flagellation, what do you guys do on these breaks? Past publication breaks are where we built the things that became:

Our annual events series, including our flagship EnterpriseAM Egypt Forum
Our audio products, including Morning Drive and Making It
Our launches in the UAE, Saudi Arabia, and the MENA-India corridor
The relaunch of EnterpriseAM Weekend in Egypt
…and plenty more

We’ll have lots more for you in the months to come — stay tuned. 🙂

WE’RE BACK IN BUSINESS THIS MORNING to catch you up on the past few days. In our lead story today, we look at the slowdown in housing costs inflation as reforms seem to be (finally) showing up in Gastat data.

MEANWHILE IN SPORTS- Al Hilal could soon move from the hands of the PIF to Prince Al Waleed Bin Talal, as reports indicate we could see a SAR 7.5 bn buyout as soon announced before the end of the month.

AND- The PIF is reportedly helping Noon build a war chest to defend its Saudi digital grounds against competitors, after the e-commerce platform raised USD 500 mn from the fund and other backers. Let’s dive in.

Happening tomorrow

Alramz Real Estate is landing on Tadawul’s main market tomorrow, one of the latest listings in a year marked with muted IPOs in the Kingdom.

Poor retail demand could be a bad signal for the developer. The retail portion was only 36% subscribed, with individual investors taking up 2.57 mn shares, the offering’s lead manager SNB Capital said in a disclosure to Tadawul last Thursday. This comes despite an institutional offering that was 11.1x oversubscribed, which prompted the company to price its IPO at SAR 70 per share, the top of the range it was guiding on.

The timing? Also not great. TASI is down 13% YTD and is headed for its worst year since 2015. Rough market conditions this year — think declining oil prices, white land fees, and more — weighed down on most newly listed stocks, with the majority still trading below IPO price.

Watch this space

ENERGY: A green hydrogen push incoming: Acwa Power plans to deploy USD 20 bn in capital each year over the next five years in solar, wind, and hydrogen, with some 60% directed to the domestic market, CEO Marco Arcelli told Semafor.

The company is looking to China as its “next big hub,” of green hydrogen, Arcelli said. Acwa also has some green GWs in the works in China, where it plans to deploy some USD 30 bn by 2030.

The reason? Favorable policies including mandated offtake and subsidies for capital expenditure, Arcelli told Semafor, adding that other jurisdictions like Europe, Japan, and South Korea need to adopt similar regulations or risk leaving China to dominate the global hydrogen market by 2030.

The renewables giant is not slowing down: Acwa Power closed the Bahrain leg of its acquisition of Engie’s stakes across Al Ezzel, Al Dur, and Al Hidd plants — the ones for which it signed February’s SAR 2.6 bn share purchase agreement, according to a press release on Monday. The Kuwaiti slice will follow up — locking in stakes in Az-Zour North plant alongside its O&M company — after technical sign-offs, the company said.

Next up: Africa? The Saudi utility inked a cooperation framework with the African Development Bank, setting up a pipeline to identify, develop, and finance power generation and desalination projects across the continent, targeting up to USD 5 bn in projects by 2030, according to a press release (pdf).

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DIPLO: Saudi looks eastward for tech ties: Crown Prince Mohammed bin Salman said he wants deeper cooperation with China in AI, advanced technology, new energy, and oil and gas during a visit by Chinese Foreign Minister Wang Yi to Riyadh on Sunday.

The message? Mentioning AI and advanced tech signals the Kingdom will not restrict its partnership with our largest trading partner to safe legacy sectors like construction. We need Beijing for the industrialization layer, particularly in solar and battery storage — where China holds a near monopoly.

BACKGROUND- Riyadh is looking to diversify its tech partnerships, just weeks after unlocking access to advanced US chips and striking several AI agreements during the Crown Prince’s US visit.

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SPORTS: A bid to turn Barcelona green? A EUR 10 bn Saudi offer is reportedly in the works to take control of FC Barcelona, Spanish journalist Francois Gallardo said on X. However, Aleqtisadiah later cited an unnamed “official” source denying any acquisition offers — Saudi or otherwise.

Even if the rumors were true, there’s a catch: The club is 100% owned by some 150k members, or socios, who can legally block external takeover bids.

There could be a way to crack the Socio Wall. Pundits suggest a transaction could target the club’s revenue rights through a spun-off entertainment arm. This structure would allow debt-ridden FCB (owing some EUR 2.5 bn) to accept sovereign capital without breaking its ownership laws.

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***

THE BIG STORY ABROAD-

Will Gulf sovereigns continue backing Paramount Skydance’s hostile bid for Warner Bros Discovery? The question hangs in the air this morning amid widespread reports that WBD plans to reject Paramount’s bid in favour of Netflix. The news sent Affinity partners, the key conduit for GCC backing of Paramount’s hostile bid, running to the exit.

Affinity, the private equity outfit led by Donald Trump’s son-in-law Jared Kushner, said overnight it would “no longer pursue the opportunity.” Kushner helped Paramount line up some USD 24 bn in funding for the bid from Saudi’s PIF, the Qatar Investment Authority, and Abu Dhabi’s L’imad Holding.

PLUS- It’s a rough morning for the auto industry: Volkswagen is shutting a plant in Germany, its home market, for the first time in its 88-year history. That’s bad news for any country (including Egypt) hoping that VW would choose it as the site for a new assembly plant — German unions would go bonkers if it invested significant sums abroad after shutting a plant at home. Ford, meanwhile, is taking a USD 19 bn writedown as it walks-back plans to go all-in on EVs.

Keep an eye on oil this morning: Crude futures dipped overnight after the Trump administration said it would impose a “total and complete blockade of all sanctioned oil tankers” going into and and out of Venezuela.

AND- The Trump administration is in damage-control mode after the White House chief of staff gave a stunningly candid interview to Vanity Fair in which she said she was “aghast” at the destruction of USAID, called Elon an “odd duck” and ketamine user, and talked smack about JD Vance’s love of conspiracy theories. Read: Susie Wiles, JD Vance, and the “Junkyard Dogs”: The White House Chief of Staff on Trump’s Second Term (Part 1 of 2)

Housing costs log slowest increase in over three years in November

Inflation decelerated in November to 1.9% y-o-y, a 0.3 percentage points down compared to 2.2% in October, according to the General Authority for Statistics’ (Gastat) consumer price index (pdf).

Housing is cooling down even more, as the effect of Riyadh’s rental freeze policy starts to show up in the index. The 4.3% y-o-y increase in housing, water, electricity, gas, and other fuels — mainly driven by a 5.4% y-o-y increase in housing rents — is the lowest reading since October 2022, and a far cry from the 7.8% peak in October of last year.

Emirates NBD anticipates a further slowdown in the coming year, the bank said in a note (pdf).

Food and beverage prices — the heaviest component in the index — inched up by 1.3% y-o-y, slower than October. Meanwhile, entertainment, sports and culture also inched up 1.3%, on the back of a 2.1% increase in prices of holiday deals.

ALSO- Transport prices rose 1.5% y-o-y, driven by a 6.4% increase in passenger transport prices.

On the decline: Restaurants and accommodation services prices also fell 0.5% y-o-y due to a 2.3% y-o-y slowdown in accommodation services. Furnishings, household equipment, and routine household maintenance prices declined 0.3% y-o-y, largely due to a 3.3% drop in furniture, furnishings, and carpet prices.

Seasonality could be behind slowdowns and declines in prices, as demand could be cooling for holiday and travel spending, reflected in food and transport categories, TS Lombard’s MENA Economist Hamzeh Al Gaaod told EnterpriseAM.

A downward trend for 2026? Inflation could decline to levels below 1% y-o-y for the coming year “as housing-related price pressures continue to fade and lower global energy prices dampen fuel inflation,” according to a Capital Economics note seen by EnterpriseAM. Deflationary rates could be in the cards by the end of next year, CE adds.

MEANWHILE- The Finance Ministry has inflation projected at 2% in 2026, while forecasts from the World Bank see inflation averaging 2.2%.

Alwaleed wants Al Hilal — and it could happen very soon

Al Hilal could be the first top club to move to private hands. Alwaleed Bin Talal is reportedly very close to gaining full control of the club for SAR 7.5 bn that will go into the PIF’s coffers as the current sole owner, unnamed sources told Asharq Al Awsat. An official announcement is expected before the new year, the sources said.

Details are still blurry: It’s not clear whether the b’naire prince is planning to carry out the transaction through the titan he chairs, Kingdom Holdings Company, or his own private office as a trophy investment.

Our take

For KHC, Al Hilal could be an asset. The soccer club posted some SAR 1 bn in revenue in FY 2023-2024, leading to an SAR 33 mn net income. The numbers suggest Al Hilal is already a well-oiled machine that won’t require KHC to spend big and wait for a return down the road.

Other top clubs might need more time to get their house in order. Negotiations for an Al Ittihad buyout are still early with a flurry of interested investors, including b’naire brothers Abdullah and Mohiuddin Saleh Kamel, Asharq Al Awsat’s sources said. The same goes for Al Nassr and Al Ahli, with nothing expected to be finalized for at least three months.

Background-

The PIF is moving on from building the SPL to leaving room for private investors, after it took control of Al Ittihad, Al Ahli, Al Nassr, and Al Hilal in June 2023 and shored up spending on transfers.

Top clubs’ spending — including USD 121 mn from Al Hilal — led the SPL to claim the sixth place globally for total transfer spending during the summer 2025 transfer window with a total of USD 751.5 mn.

PIF & backers shore up Noon’s finances to survive intense competition

The PIF is reportedly helping Noon build a war chest to defend its Saudi digital grounds against competitors. The e-commerce platform raised USD 500 mn from the fund, Emirati founder Mohammed Alabbar, and other unnamed backers, Semafor reported, citing sources it says are familiar with the matter.

Our take? The fresh capital is needed for Noon to stand up to competition from local and global players, allowing it to grow its marketplace, maintain competitive pricing, and counter fast-expanding smaller rivals.

It’s getting hot out there. Amazon is deepening its grocery push in MENA, China’s Meituan has entered the Middle East with food delivery and dark stores, and Carrefour is capitalizing on its supply chain and store network. Meanwhile, Saudi’s Ninja raised USD 250 mn for expansion, while low-cost platforms Shein and AliExpress are also getting in the mix more and more.

Background

The company is also considering a dual listing on the Saudi and UAE stock exchanges within the next two years as it moves toward profitability, and is exploring mergers and acquisitions to expand into new markets such as India. It is also expanding its automated self-delivery services, aiming to cut its 40k delivery workforce by half by 2027.

Another Nomu IPO bites the dust

Alwazn Almithaly pulled the plug on its SAR 35.2 mn Nomu IPO, after the subscription period for a 15% stake closed last week. The reasons for shelving the offering remain unclear, despite the company having guided a SAR 75-78 price range.

The context

Not the first: Offerings from Dome International, AlKhaldi Logistics, Al Mozaini Real Estate, Rawabi Marketing were also pulled in 2025, highlighting the ongoing challenges for new listings in the current market environment.

Nomu saw a softening turnover in 3Q, as total value traded eased to SAR 2.05 bn, down from SAR 2.98 bn in 3Q 2024.

What do they all have in common? Moderate growth, concentrated ownership, thin liquidity, and business models still transitioning toward scale, George Khoury, head of research & education at CFI Financial Group Holding, told us.

Alwazn fits squarely within the group. It is a stable business meeting a market that now demands stronger growth visibility, clearer scalability, and a more differentiated equity story before committing capital, he added.

Investors are looking for momentum: Alwazn’s revenue grew 14% in 1H, but momentum remains steady rather than accelerating, Khoury said. Around 75% of sales are still anchored in the PoS channel, which expanded by just 4%, while faster-growing wholesale and online channels remain too small to materially change the revenue mix in the near term, he added.

That profile matters in a small-float IPO, where demand hinges on clear momentum and visible scalability, according to Khoury.

Is the parallel market IPO pipeline thinning?

We still haven’t heard from a bunch of IPO hopefuls. The Capital Markets Authority (CMA) had approved Quality Education Company’s request to list a 20% stake on Nomu in June. The regulator also approved IPOs for Afaq Al Arabiya for Transportation and Storage and Qudra for Communications and IT in March, though these approvals are valid for only six months and have likely expired.

Modon pushes localization, JLL gets a piece of FMTECH, and FinMin issues December sukuk

Modon lands SAR 1 bn in localization agreements for Dammam 3-

Dammam 3 is becoming a renewable energy manufacturing hub: The Saudi Authority for Industrial Cities and Technology Zones (Modon) signed five agreements worth over SAR 1 bn to localize manufacturing in Dammam’s Third Industrial City, with a heavy focus on the renewable energy supply chain.

Who is moving in?

The cables: Egypt’s Elsewedy Electric is deploying SAR 223 mn to manufacture electrical equipment in a 96k sqm facility;
The solar tech: China’s Cospowers is putting up SAR 150 mn for a 40k sqm solar panel and electrical equipment facility;
The infrastructure: India’s Karamatara will invest SAR 150 mn to manufacture heavy metal structures required for utility-scale projects on a 200k sqm plot.

The wider net: The renewables pacts account for just over half of the SAR 1 bn total investment, with the rest split among undisclosed agreements to establish facilities for food products, automotive components, and steel production.

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

JLL to acquire minority stake in the PIF’s FMTECH-

JLL is buying a seat at the table of the world’s biggest construction pipeline, acquiring a “significant stake” in the Public Investment Fund’s Saudi Facility Management Company (FMTECH). If finalized, the PIF would retain majority control, while JLL would exchange its digital facility management platforms for a privileged vehicle in the Saudi market.

Why it matters? Rather than competing for individual tenders, JLL would effectively become a semi-sovereign partner by buying into the entity serving the Kingdom’s gigaprojects.

FinMin closes December sukuk issuance-

The Finance Ministry closed the December 2025 issuance under the SAR-denominated sukuk program, raising over SAR 7 bn across five tranches:

A two-year tranche, valued at SAR 1.2 bn;
A four-year tranche, valued at SAR SAR 335 mn;
A seven-year tranche, valued at SAR 1.2 bn;
An 11-year tranche, valued at SAR 1.7 bn;
A 14-year tranche, valued at SAR 2.6 bn.

Gulf investors ♥️stocks heading into 2026, as private equity suffers from “illiquidity premium”

Investors across the Gulf view public equities as the most attractive asset class on a risk-adjusted basis heading into 2026, favoring the liquidity and historical reliability of public markets over other asset classes, according to Sico’s Investor Return Expectations in the GCC 2026 survey. This is followed by fixed income and real estate.

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

Investors are generally targeting annual returns of 9-12% for the asset class — a target that Sico Group’s head of research Nishit Lakhoti broadly aligns with the asset class’ long-term 8-9% total return CAGR in the GCC.

On the other hand, most investors are demanding the highest returns from private equity compared to other asset classes, given persistent illiquidity and exit risk in the sector. Most investors now require a minimum unleveraged return of around 13% to commit capital.

Blame it on the “illiquidity premium.” That’s how Sico Capital CEO Wissam Haddad refers to the spread between the 9-12% target for equities and the 13%+ requirement for PE, which he says comes as softer IPO markets have made exits harder, forcing investors to demand higher compensation for the risk of having capital trapped in longer holding periods or continuation funds.

Cash might not be king? Despite expectations of 5-6% returns on liquidity holdings, Sico Group Deputy Group CEO Ali Marshad said investors may be underestimating the impact of rate cuts, noting that yields paying 5% today could drift closer to 4.25% over the coming year as policy eases, potentially forcing capital back into risk assets to maintain returns.

The same goes for government bond yields: In the fixed income space, investors in Saudi Arabia, the UAE, and Qatar are looking for 5% annual returns on 10-year USD government bonds, while those in Oman, Kuwait, and Bahrain are eyeing closer to a 6% yield. Easing inflation and rate cuts will likely pull most GCC sovereign yields below 5%, with Bahrain remaining the key outlier, Marshad says.

The safe wagers for investors in the Gulf? The UAE and Saudi Arabia, as usual — though confidence in Saudi Arabia eased slightly y-o-y amid concerns over liquidity and market performance.

And the new kids on the block: Oman, Kuwait, and Bahrain have all seen optimism improve, with Kuwait in particular seeing investor confidence surge to 41% this year, up from 28%, according to the survey. This was led by reform momentum and an uptick in government spending in both Oman and Kuwait.

MARKETS THIS MORNING-

Most Asian markets are in the green this morning, with Japan’s Nikkei making marginal gains on the back of positive export figures that beat analyst expectations. South Korea’s Kospi gained 0.7%, while Hong Kong’s Hang Seng is up 0.1%. China’s CSI 300 was the outlier, remaining slightly lower. Over on Wall Street, futures slipped overnight after a losing session for all three indices yesterday, on the back of higher unemployment figures out yesterday.

TASI	10,453	-1.3% (YTD: 13.2%)
MSCI Tadawul 30	1,375	-1.2% (YTD: -8.9%)
NomuC	23,470	-1.0% (YTD: -25.4%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	42,002	-0.7% (YTD: +41.2%)
ADX	9,980	-0.1% (YTD: +6.0%)
DFM	6,110	+0.3% (YTD: +18.2%)
S&P 500	6,800	-0.2% (YTD: +15.6%)
FTSE 100	9,685	-0.7% (YTD: +18.5%)
Euro Stoxx 50	5,718	-0.6% (YTD: +16.8%)
Brent crude	USD 58.92	-2.7%
Natural gas (Nymex)	USD 3.96	+1.9%
Gold	USD 4,342	+0.2%
BTC	USD 87,484	+1.9% (YTD: -6.5%)
Sukuk/bond market index	918.09	+0.1% (YTD: +1.8%)
S&P MENA Bond & Sukuk	151.77	+0.1% (YTD: +8.5%)
VIX (Volatility Index)	16.48	-0.1% (YTD: -5.1%)

THE CLOSING BELL: TADAWUL-

The TASI fell 1.3% yesterday on turnover of SAR 3.6 bn. The index is down 13.2% YTD.

In the green: Alahli Reit 1 (+4.2%), Dar Alarkan (+3.5%) and Arabian Drilling (+1.5%).

In the red: Chubb (-5.4%), Sport Clubs (-5.1%) and Petro Rabigh (-4.8%).

THE CLOSING BELL: NOMU-

The NomuC fell 1.0% yesterday on turnover of SAR 34.4 mn. The index is down 25.4% YTD.

In the green: Anmat (+11.1%), Naba Alsaha (+7.1%) and Knowledge Tower (+5.1%).

In the red: Alhasoob (-9.9%), UFG (-9.1%) and Aictec (-8.7%).

CALENDAR

NOVEMBER

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

DECEMBER

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 December (Monday): The Northern Borders Investment Forum 2025, Ministry of Interior Staff Club, Arar

15 December (Monday): Made in Saudi.

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.

22 February (Sunday): Founding Day.

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.

17-23 March (Tuesday-Monday): Eid Al-Fitr holiday.

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.

24-28 (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

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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Housing costs log slowest increase in over three years in November

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Acwa Power sees China as the next big hub of green hydrogen

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Housing costs log slowest increase in over three years in November

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Alwaleed wants Al Hilal — and it could happen very soon

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PIF & backers shore up Noon’s finances to survive intense competition

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Another Nomu IPO bites the dust

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Modon pushes localization, JLL gets a piece of FMTECH, and FinMin issues December sukuk

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Gulf investors ♥️stocks heading into 2026, as private equity suffers from “illiquidity premium”

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Housing costs log slowest increase in over three years in November

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Acwa Power sees China as the next big hub of green hydrogen

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Housing costs log slowest increase in over three years in November

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Alwaleed wants Al Hilal — and it could happen very soon

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PIF & backers shore up Noon’s finances to survive intense competition

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Another Nomu IPO bites the dust

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Modon pushes localization, JLL gets a piece of FMTECH, and FinMin issues December sukuk

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Gulf investors ♥️stocks heading into 2026, as private equity suffers from “illiquidity premium”

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