iMENA raises USD 135 mn for pre-IPO expansion

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WHAT WE’RE TRACKING TODAY

THIS MORNING: “Positive news” in the coming weeks will ease trade tensions -Al Jadaan

Good morning, ladies and gents. It’s a calm morning for the Kingdom, with the big story in today’s light issue centering around iMENA’s USD 135 mn in funding round, paving the way for a potential Saudi IPO within two years. The earnings season is also picking up steam, with stc, a flurry of banks and Tadawul publishing their 1Q results.

Also in this morning’s news well: The new Investment Law regulations are now in effect, Future Vision’s share price dips on Nomu debut, and the IMF argues aging populations are not necessarily a bad thing for the global economy. Let’s dive in.

NEWS TRIGGERS-

Aramco is set to release its 1Q 2025 financial results on Sunday, 11 May, according to Argaam. Analysts are expecting the oil giant to bring in a net income of SAR 97.9 mn for the quarter.

REMEMBER- Aramco’s net income fell 12.4% y-o-y in 2024 to USD 106.25 bn (SAR 398.42 bn), driven by lower revenue, reduced finance income, and a 3.9% rise in operating costs.

HAPPENING TODAY-

Automechanika Riyadh kicks off today at the Riyadh International Convention and Exhibition Center. The regional automotive aftermarket industry trade show — wrapping up on Wednesday — will feature over 450 exhibitors from more than 30 countries and eight international pavilions.

The two-day Saudi Statistics Forum wraps up today at the Movenpick Hotel and Residences, Riyadh. The event is bringing together officials, experts, and specialists to discuss key statistical topics and showcase the sector’s role in supporting Saudi Arabia’s development and Vision 2030 goals.

WEATHER- Clouds will blanket Riyadh, Makkah, and Madinah, with a hazy calm settling.

Riyadh: 31°C daytime / 24°C overnight
Makkah: 42°C daytime / 29°C overnight
Madinah: 40°C daytime / 24°C overnight

WATCH THIS SPACE-

Will we be hearing good news soon? Finance Minister Mohammed Al Jadaan told Asharq Business he anticipates “positive news” in the coming weeks that would ease tensions in global markets and economies.

Efforts to de-escalate the tariff wars could be gaining traction: The IMF International Monetary and Financial Committee — chaired by Al Jadaan — held four lengthy meetings in Washington aimed at preventing further tariff escalation, during the IMF and World Bank’s spring meetup. “Escalation is not in anyone’s interest, whether in China, the US, Europe, or the Middle East,” Al Jadaan added.

ALSO- Saudi Arabia and Qatar have agreed to settle Syria’s outstanding USD 15 mn debt to the World Bank, clearing the way for crucial reconstruction grants and support for the country’s struggling economy, reads a joint statement issued at the spring meetup The settlement — Riyadh’s first official financial backing of Syria since a change in government in December — will allow the bank to resume operations in Syria after a 14-year suspension, unlocking access to vital financial aid to boost the country’s reconstruction.

We knew this might be coming: Rumors about a plan to pay off Syria’s arrears to the World Bank circulated earlier this month. Minister Mohammed Al Jadaan later confirmed to Asharq Business that Saudi Arabia was actively involved in discussions with both the US and the EU to lessen or remove the sanctions currently imposed on Syria.

OIL WATCH-

The Kingdom’s oil burn takes a dip: Oil burn in power plants dropped over 200k barrels per day (bbl / d) y-o-y during the first two months of 2025 to 678k bbl / d — hitting its lowest level since 2016, Mees reports.

The breakdown: The Kingdom’s direct burning of oil in plants took a steep dip to 589k bbl / d in February — an 11-year monthly low — which puts it on track to achieve its first annual fall in oil burn since 2021. Crude burn dropped to a three-year low of 455k bbl / d in 2024, while demand stayed steady and fuel oil consumption increased 3% y-o-y to 651k bbl / d.

The drop is in line with the Kingdom’s Liquid Displacement Program, which aims to cap annual oil burn by over 1 mn bbl / d and usher in more gas and renewables in a bid to eliminate oil burn entirely by 2030.

MARKET WATCH-

The iBoxx tadawul SAR government sukuk index rose 4.66% in 1Q after recording gains for three months in a row, according to an S&P Dow Jones Indices report (pdf). After rebalancing, the index dropped to 49 constituents, down from 51, due to the maturity of two sukuk worth SAR 7 bn and SAR 3.8 bn. The Kingdom did not issue new SAR-denominated sukuk last quarter, but raised USD 12 bn through three USD-denominated bond offerings.

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THE BIG STORY ABROAD-

It’s a quiet day in the global business press, as is typical of Monday mornings — but the foreign press is filled with news of attacks in different corners of the world.

In Vancouver, a car drove into a crowd celebrating Lapu Lapu day, a Filipino festival, at a neighborhood street party, killing 11 people and injuring several others. (Reuters | Guardian | FT)

Meanwhile, Israel launched an airstrike in a southern suburb of Beirut, jeopardizing a ceasefire that has held since November after claiming it was targeting an area that is a stronghold for Hezbollah, where Israeli officials said they were storing precision missiles. No casualties were reported. (Guardian | New York Times | AP)

Over in Iran, the blast at the country’s biggest port, Bandar Abbas, has so far killed 40 people, while more than 1.2k people are injured. Iran’s Defense Ministry has denied international media reports claiming that the blast could be linked to the mishandling of solid fuel used for missiles, though most reports say chemicals at the port were the suspected cause of the explosion. (Reuters)

iMENA raises USD 135 mn, sets sights on Saudi IPO within two years

Digital platform provider iMENA Group secured USD 135 mn in the first tranche of a pre-IPO funding round, led by PIF-owned Sanabil Investments, New York-based VC firm FJ Labs, SellAnyCar founder Saygin Yalcin (LinkedIn), along with other Saudi investors, according to a press release (pdf).

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

Where will the money go? The funds, which include a private placement and in-kind contributions, will support iMENA’s plan to raise its share in its main platforms — OpenSooq, SellAnyCar, and Jeeny — and facilitate its geographic and vertical growth. The capital will also support the company’s pre-IPO plans.

Part of a bigger plan: The funding round coincides with iMENA’s restructuring into iMENA Holding, a Saudi joint stock company. iMENA will relocate to Riyadh in preparation for a potential IPO within two years, with Yalcin joining the company’s board of directors to guide its strategic direction, the statement read. Usman Sikandar, Head of Investment Banking at Al Rajhi Capital — which acted as financial advisor on the private placement — also holds a seat on the board.

The tech IPO pipeline is looking hot: iMENA is gearing up to list on the Saudi Exchange, along with other MENA tech firms like fintech unicorn Tabby and tech services firm Ejada Systems.

About iMENA: Founded in 2012, iMENA operates platforms across the real estate, automotive, and mobility sectors in the Middle East, with the bulk of its market share in Saudi Arabia and the UAE. The company is in the black with an annual growth rate exceeding 55% annually and almost 40% of aggregate revenues coming from Saudi Arabia, according to the statement.

The story also got ink from Bloomberg.

Regs for new Investment Law are now live

Saudi Arabia’s executive regulation for the new investment law was published by the state official gazette Umm Al Qura last Friday (pdf). The new law — which replaced the old Foreign Investment Law and its executive regulations last year — introduces changes designed to attract more FDI by leveling the playing field between foreign and local investors under a unified set of rules.

Transfer of funds: The new regs allow investors to freely transfer investment-related funds to and from the Kingdom without delay — subject to applicable law. Transfers cover capital, reinvestments, incomes, dividends, royalties, fees, sale proceeds, and worker earnings.

BUT- Transfers may be delayed or restricted under fair, non-discriminatory laws in cases such as bankruptcy, creditor protection, securities activities, criminal matters, or court rulings.

Other important changes: The law abolishes the investment license requirement for foreign investors, introduces a new framework for handling violations — categorizing them as serious or non-serious — and applies a gradation principle to penalties. Penalties now take into account factors such as repeated offenses and the size of the entity, creating a fairer enforcement system. It also strengthens dispute resolution by allowing both local and foreign investors to appeal to relevant courts.

BACKGROUND- The amendments drew on international best practices from other countries, including the US, Turkey, the UAE, Germany, Singapore, and Indonesia. This process was designed to ensure that the updates align the Kingdom’s investment environment with international practices.

Future Vision dips over 5% on Nomu debut

Future Vision for Health Training’s share price slipped 5.3% on its Nomu debut yesterday to close at SAR 6.63 — down from its listing IPO price of SAR 7, according to market data .

The health training company floated a 20% stake on the parallel market in a primary offering that was 5x oversubscribed, to rake in some SAR 14 mn in proceeds.

Key Nomu listings to watch out for in 2025:

Auto equipment distributor Service Equipment Company is guiding on a price range of SAR 80-84 per share for its upcoming Nomu IPO of a 30% stake;
Al Khalidi Logistics lined up the Capital Market Authority’s (CMA) approval in December to take a 7% stake to the parallel market;
Qudra for Communications and IT got the go-ahead from the CMA to list 5 mn shares — good for an 18.2% stake — on Nomu last month ;
Hawiya Auctions was also approved to offer a 12% stake — 2.4 mn shares — on Nomu;
The National Signage Industrial Company, a subsidiary of Tadawul-listed Arabian Contracting Services, was cleared last month to IPO a 20% stake — amounting to 1.5 mn shares — on Nomu;
School operator Dome International for Investment was also cleared to offer a 14.5% stake, or 850k shares, on the parallel market;
Property developer Hamad Mohammed Bin Saedan Real Estate plans to take a 15% stake, or 4.2 mn shares, to market, after it lined up regulatory approval.
Medical equipment supplier Wajd Life Trading is set to IPO a 20% stake, good for 2.5 mn shares, on Nomu, after securing regulatory clearance last month;
Naf for Feed Industry was the latest to secure CMA’s approval to offer a 20% stake on the parallel market.

Zooming out: A total of 38 companies and 22 funds are planning to list across the region this year, signaling continued investor confidence in MENA markets. Saudi Arabia is set to lead the charge with 26 public offerings.

Techrar closes SAR 6 mn investment round

Homegrown e-commerce startup techrar closed a SAR 6 mn investment round led by Aramco’s VC arm Wa’ed Ventures, it said in a post on LinkedIn.

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Where will the money go? The new funding will be used for product development, team growth, and market and customer expansion to deliver customized customer experiences.

About Techrar: Founded in 2022 by Ahmed Salama (LinkedIn), Safwan Saigh (LinkedIn), Fozan Alkhalawi (LinkedIn), Rania Shaker (LinkedIn), and Ahmed Saeed (LinkedIn), techrar offers an integrated platform for managing subscriptions, memberships, and recurring billing.

Earnings season picks up steam with stc, a flurry of banks and Tadawul

SAUDI TELECOM COMPANY-

Saudi Telecom Company (stc) posted an 11% y-o-y increase in net income to SAR 3.65 bn in 1Q 2025, according to a disclosure to Tadawul (pdf). The rise was driven by higher revenues and tax returns, despite an increase in operating expenses. Meanwhile, revenue grew 1.6% y-o-y to SAR 19.2 bn, supported by a 9.7% rise in business unit revenues and 1.7% increase in commercial unit revenues.

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ALSO- The company will distribute SAR 2.74 bn in dividends at SAR 0.55 per share for 1Q 2025, it said in a separate disclosure. The distribution date is set for 20 May.

AND- Arabian Internet and Communications Services Company (solutions by stc) reported a 2.3% y-o-y increase in net income to SAR 361 mn in 1Q 2025, it said in a disclosure to Tadawul. Growth was driven by a drop in selling and distribution expenses, despite an increase in general and administrative expenses.

Revenues inched up 0.5% y-o-y to SAR 2.8 bn during the period, supported by a 28.6% increase in IT management and operational services and a 2.6% rise in digital services, despite a 13.8% decrease in core ICT services.

SAUDI AWWAL BANK-

Saudi Awwal Bank (Sab) reported a 4.5% y-o-y increase in net income to SAR 2.1 bn in 1Q 2025, driven by a rise in total operating income despite a 2% uptick in operating expenses, it said in a disclosure to Tadawul. The figure beat analyst expectations, which had pegged the bank’s net income at SAR 2.04 bn for the quarter.

Meanwhile, the bank’s total income from financing grew 11.1% y-o-y to SAR 4.1 bn, while its total income from investments edged down 0.4% y-o-y to SAR 1.1 bn.

SABIC AGRI-NUTRIENTS-

Sabic Agri-Nutrients reported a net income of SAR 985 mn in 1Q 2025, up 17.1% y-o-y on the back of a 22% rise in sales and contributions from an associate and a joint venture, it said in a disclosure to Tadawul. This was partially offset by increased feedstock costs, leading to higher costs of goods sold.

Revenues climbed 22.1% y-o-y to SAR 3.1 bn during the period, driven by a 3% rise in average selling prices and an 18% increase in quantities sold following a scheduled plant turnaround last year.

ARAB NATIONAL BANK-

Arab National Bank (ANB) reported a 5.5% y-o-y rise in net income to SAR 1.3 bn in 1Q 2025, it said in a disclosure to Tadawul. Growth was primarily driven by higher net returns on FVSI financial instruments and rising earnings from fees and commissions, special commissions, exchange, and trading.

Meanwhile, the bank’s total income from financing grew 1.8% y-o-y to SAR 2.9 bn during the quarter, while its total income from investment grew 4.8% y-o-y to SAR 655 mn.

BANK ALBILAD-

Bank Albilad saw its net income rise 8.9% y-o-y to SAR 700.4 mn in 1Q 2025, supported by a 9% increase in total operating income despite a similar rise in operating expenses, it said in a disclosure to Tadawul.

The bank’s total income from financing grew 6.4% y-o-y to SAR 1.8 bn during the quarter, while its total income from investments rose 6.4% y-o-y to SAR 392.5 mn.

SAUDI TADAWUL GROUP HOLDING-

Saudi Tadawul Group’s net income fell 40.2% y-o-y to SAR 120.5 mn in 1Q 2025, driven by lower operating revenues and a 13% increase in operating expenses attributed to the group’s growth strategy implementation, it said in a disclosure to Tadawul.

Revenue also dropped 15.3% y-o-y to SAR 328.2 mn during the period due to lower trading and post-trade services revenues following a 33.8% drop in trading values. This was partially offset by a 17.3% increase in revenue from non-trading linked services.

Aramco thinks conventional engines, e-fuels are here to stay

Aramco’s wager on conventional engines and e-fuels got ink in the Financial Times as the company ramps up investments in synthetic fuels derived from renewable energy “to decarbonize transport and narrow the emissions gap between EVs and conventional engines.”

The rationale? Electrifying most road transport is not environmentally logical for countries reliant on fossil fuels for electrical energy production, Aramco’s Chief Technology Officer Ahmad Al Khowaiter told the salmon-colored paper.

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A push into e-fuels: The company is eyeing a 10% stake in Geely-Renault JV Horse Powertrain to establish a new engine manufacturer and a partnership with BYD to share engine technology for hybrid vehicles. These ventures are aimed at reducing carbon emissions while extending the life of combustion engines.

.. and more: The oil giant developing a 50 bbl / d e-kerosene production plant in Spain and a 35 bbl / d e-gasoline production plant at home, both expected to become operational by 2027, Al Khowaiter added. “The idea is to have a supply of fuel to meet the needs of carmakers to test it, as well as for Formula 1” and other motor racing competitions.

BACKGROUND- The push started back in 2023, and gained new momentum after the Trump administration started considering rolling back consumer tax credits for EVs, and the UK reviewed EV sales targets downward while pushing back deadlines for the sale of hybrids to 2035. E-fuels also caught the attention of EU and Chinese carmakers amid the potential to tap a growing demand for biofuels.

Golden Chicken taps Safeer for solar plant installation

RENEWABLES-

Safeer signs PPA with Golden Chicken for solar plant installation: Safeer — the JV between TotalEnergies and Saudi’s Zahid Group — signed a power purchase agreement with Golden Chicken to install a 5.18 MWp (4.13 MWac) solar power plant at the company’s site in the Kingdom, according to a press release. The facility is expected to generate more than 13 GWh of renewable electricity annually and offset around 6.7k tons of emissions annually.

Golden Chicken is into sustainability: The company signed an agreement with Dutch company Mavitec last year to develop a solid-waste treatment plant.

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DEBT WATCH-

#1- Nomu-listed Balady Poultry lined up two financing arrangements with Al Rajhi Bank, it said in separate filings to the exchange (here and here). The poultry-maker secured a SAR 333 mn, seven-year credit facility to support its growth plans and a SAR 100 mn, one-year facility to meet its working capital requirements. This could be part of the financing needed to cover the firm’s SAR 1.1 bn expansion plan announced in February to boost its poultry production over the next five years.

#2- Tanmiah Food subsidiaries secure SAR 200 mn facilities: Agricultural Development, Desert Hills for Veterinary Services, and Tanmiah Restaurants — all subsidiaries of Tamniah Food Company — secured SAR 200 mn in short-term shariah-compliant credit facilities from the Arab National Bank, according to a disclosure to Tadawul. The one-year financing is backed by a promissory note and will be used to cover working capital needs.

HEALTHCARE-

Novo Nordisk’s obesity drug to be made in Saudi? Danish drug maker Novo Nordisk signed an MoU with PIF-owned biopharmaceutical company Lifera to localize the production of semaglutide GLP-1 treatments in the Kingdom, according to a press release. The move aims to improve Saudi pharmaceutical manufacturing capabilities and ease access to treatments for chronic diseases like obesity and diabetes.

Future plans: Novo Nordisk plans to launch the weight management treatment Wegovy in the Kingdom in 2025 and hopes to increase its current reach of 1 mn patients to help three times as many by 2030.

REAL ESTATE-

Sumou + GolfNorth to work on golf destinations: Sumou Global Investment will collaborate with Canada’s golf course operator GolfNorth to develop a series of golf-centered lifestyle destinations across Saudi Arabia, the Middle East, and North Africa, according to a press release (pdf).

The details: The projects will include luxury residences and hotels, championship golf courses, and wellness centers in Riyadh, Jeddah, and Khobar starting this year, with phased openings beginning in 2027. GolfNorth will be responsible for the design, operation, and maintenance of the golf courses.

ARTS-

The Director’sProgram by Red Sea Labs will run from Tuesday, 29 April through 3 May in Jeddah, the Red Sea Film Foundation said in a post on LinkedIn. The program, led by renowned film director Spike Lee, will showcase 15 emerging filmmakers from the Arab world, Asia, and Africa and offer workshops, masterclasses, and one-on-one sessions. Interested directors may apply through the Red Sea International Film Festival website.

Why “silver” economies aren’t necessarily bad for growth

A silver economy is on the rise, shaped by a slowdown in worldwide population growth, drop in fertility falls, and extended lifespans. The IMF’s 2025 World Economic Outlook (pdf) outlines new economic prospects that healthier seniors can unlock as the global age structure shifts, despite challenges to labor supply and public finances.

An aging world: Most economies are approaching or have crossed their “demographic turning point” — where the working-age population begins to decline. By 2035, all advanced and major emerging economies will be on the other side of this shift, with most low-income countries following by 2070. By the end of the century, the worldwide average age is set to rise by 11 years.

Aging creeps in across the world’s youngest regions too: While the biggest advanced economies and emerging markets in Europe and Asia have the largest share of older population, the younger Latin America, Africa, and the Middle East are also on track to see a steep rise in older people. The more fertility falls and lifespans extend, the smaller the window to reap demographic dividends — especially in low-income countries.

Healthier, not just older: Today’s 70-year-olds match the cognitive sharpness of 53-year-olds in 2000, fueling longer careers, delayed retirements, and higher earnings. Better health has raised the chances of seniors participating in the labor force by 20 percentage points. However, challenges like outdated skills, pension limitations, and age discrimination persist for older age groups.

Aging is expected to weigh down in growth: These global demographic shifts are set to slow economic growth and strain public finances over the long term. Overall output growth is expected to decline by 1.1 percentage points through 2050 and by 2 percentage points through 2100, compared to 2016–2018 levels. Output per capita growth is also projected to slow by 0.6 percentage points through 2050 and by 1.8 points by century’s end.

Regional growth implications: Advanced economies like Japan face contraction risks due to aging, while the US and Canada maintain modest growth due to favorable demographics. China will see a sharp growth deceleration (down 2.7 percentage points in 2025-2050), while India, though initially insulated with a 0.7 point slowdown, will face increasing pressure post-2050.

AND- These trends are expected to pressure interest rates downward and threaten debt sustainability. Aging populations save more, invest less, and strain pension and healthcare systems.

Balancing capital and labor: Global aging could also shift capital from older, high-savings nations to younger, capital-scarce ones. At the same time, younger workers might move to aging economies to fill workforce gaps, providing a potential balance in global labor markets and capital flows.

How can countries adapt? Promoting preventive healthcare and reducing risk factors can improve rates of healthy aging. Pension reform and adaptable workplaces, as well as bridging labor market gaps by addressing age, gender, and income disparities, would promote longer working lives. Economies could also boost fertility by supporting childcare and flexible work arrangements that balance career and family. Meanwhile, productivity could be increased by leveraging AI and biotechnology.

The “silver” lining: Measures like increasing senior participation rates, delaying retirement, and narrowing gender gaps could raise annual growth by up to 0.6 percentage points annually through 2050. This would offset almost 75% of the demographic drag during this period, with some countries in Europe and India could see even higher growth.

MARKETS THIS MORNING-

Asian markets are mixed this morning, as investors carefully weigh trade developments and new stimulus measures from China. Japan’s Nikkei is up 0.8%, and Hang Seng (Hong Kong) is slightly up 0.1%, while Shanghai Composite is down 0.2%. Meanwhile, Wall Street futures are pointing to a lower opening ahead of a packed earnings week that has Amazon, Apple, Meta and Microsoft (among other heavyweights) on the docket.

TASI	11,756	-0.1% (YTD: -2.3%)
MSCI Tadawul 30	1,498	-0.2% (YTD: -0.8%)
NomuC	28,570	-0.1% (YTD: -9.2%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	31,855	+0.7% (YTD: +7.1%)
ADX	9,392	-0.4% (YTD: -0.3%)
DFM	5,163	-0.6% (YTD: +0.1%)
S&P 500	5,525	+0.7% (YTD: -6.1%)
FTSE 100	8,415	+0.1% (YTD: +3.0%)
Euro Stoxx 50	5,154	+0.8% (YTD: +5.3%)
Brent crude	USD 66.87	+0.5
Natural gas (Nymex)	USD 2.94	+0.2%
Gold	USD 3298.40	-1.5%
BTC	USD 94,401.20	+0.1% (YTD: +0.9%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.1% yesterday on turnover of SAR 4.3 bn. The index is down 2.3% YTD.

In the green: Albaha (+9.9%), Saudi Re (+9.8%) and Anaam Holding (+9.3%).

In the red: Zain KSA (-4.2%), Solutions (-3.7%) and Derayah (-2.9%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.1% yesterday on turnover of SAR 33 mn. The index is down 9.2% YTD.

In the green: Tharwah (+8.5%), Naas Petrol (+6.1%) and Neft Alsharq (+5.7%).

In the red: Fadeco (-8.9%), SPC (-6.7%) and SMC (-6.3%).

CORPORATE ACTIONS-

Nomu-listed Hedab Alkhaleej Trading’s BoD recommended a SAR 7.5 mn dividend distribution at SAR 1 a share for FY 2024, it said in a disclosure to Tadawul. The distribution date will be announced once the general assembly gives the nod.

Alinma Bank’s shareholders approved a SAR 746.14 mn dividend distribution at SAR 0.30 per share for 4Q 2024, according to a Tadawul filing (pdf). Distribution will start on 8 May.

CALENDAR

APRIL

25 April-3 May (Friday-Saturday): AFC Champions League Elite Finals, Jeddah.

27-28 April (Sunday-Monday): First Saudi Statistics Forum, Movenpick Hotel and Residences, Riyadh

28 April- 30 April (Monday-Wednesday): Automechanika Riyadh, Riyadh International Convention and Exhibition Center, Riyadh.

29 April (Tuesday): Rules for special purpose entities (SPEs) feedback deadline.

MAY

May: World Intellectual Property Organization (WIPO) Global Awards 2025 announces finalists.

3 May (Saturday): Canelo Alvarez vs William Scull, Anb Arena, Riyadh.

4-8 May (Sunday-Thursday): Adeer Real Estate Nomu IPO offering period.

5 May (Monday): Opec+ meeting.

6-7 May (Tuesday-Wednesday): US Federal Reserve Open Market Committee meeting.

9 May (Friday): PFL Mena Season 2 Kick-off.

11-13 May (Sunday-Tuesday): Future Hospitality Summit, Mandarin Oriental Al Faisaliah, Riyadh.

12-14 May (Monday-Wednesday): 2025 Saudi Giga projects Summit, Riyadh.

12-15 May (Monday-Thursday): Saudi Smart Manufacturing, Riyadh International Convention & Exhibition Center.

23 May (Friday): Guns N’ Roses Show, Riyadh.

29 May (Thursday): 2024-2025 academic year ends.

JUNE

4-9 June (Wednesday-Monday): Hajj.

6-10 June (Friday-Tuesday): Eid Al Adha.

17-18 June (Tuesday-Wednesday): US Federal Reserve Open Market Committee meeting and Summary of Economic Projections.

24-25 June (Tuesday-Wednesday): Tech-ecO-System Summit (ToSS), Riyadh.

30 June (Monday): Cancellation of Fines and Exemption of Financial Penalties Initiative by the Zakat, Tax and Customs Authority (Zatca) deadline.

JULY

July (Second week): World Intellectual Property Organization (WIPO) Global Awards 2025 awards ceremony, Geneva.

7 July-24 August (Monday-Sunday): Esports World Cup, Riyadh.

29-30 July (Tuesday-Wednesday): US Federal Reserve Open Market Committee meeting.

31 July (Thursday): Deadline for companies with SAR 2.5 mn or more in 2022/2023 revenues to integrate e-invoicing solutions with Fatoora.

AUGUST

7 July-24 August (Monday-Sunday): Esports World Cup, Riyadh.

5-17 August (Tuesday-Sunday): 2025 Fiba Asia Cup, Jeddah.

SEPTEMBER

15-17 September (Monday-Wednesday): Money 20/20 Middle East, Riyadh.

17-18 September (Wednesday-Thursday): US Federal Reserve Open Market Committee meeting and Summary of Economic Projections.

23 September (Tuesday): Saudi National Day.

OCTOBER

1-3 October (Wednesday-Friday): Saudi Green Building Forum, Riyadh.

7-8 October (Tuesday-Wednesday): Global EV & Mobility Technology (GEMTECH) Forum, Riyadh.

17 October (Friday): Saudization for private healthcare roles enters its second phase.

22-23 October (Wednesday-Thursday): Private Capital Forum, Riyadh.

25-27 December (Saturday-Monday): The Fortune Global Forum 2025, Riyadh.

28-29 October (Tuesday-Wednesday): US Federal Reserve Open Market Committee meeting.

NOVEMBER

3-9 November (Monday- Sunday): WTA Tour Finals, Riyadh.

23-26 November (Sunday-Wednesday): Saudi Food Exhibition and Conference, Riyadh.

24-26 November (Monday-Wednesday) The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh.

27-30 November (Thursday-Sunday): World Rally Championship Saudi Arabia 2025, Jeddah.

30 November (Sunday): Zatca 21st E-invocing integration wave deadline.

DECEMBER

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

9-10 December (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

31 December (Wednesday): Zatca 22st E-invocing integration wave deadline.

2026

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.

8-12 February (Sunday-Thursday): World Defense Show, Riyadh.

26-29 October (Monday-Thursday): World Energy Congress, Riyadh.

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.

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