Non-oil activity accelerates to three-month high in June

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Opec+ accelerates output hikes for August

Good morning. The non-oil sector seems to be picking up the summer heat, with PMI figures for June reaching a three-month high. The private sector also scored big over the weekend after Saudi and Indonesian companies inked a whopping USD 27 bn in agreements and MoUs during a high-profile visit to Riyadh.

BUT FIRST- Opec+ strikes again: The oil group agreed yesterday to raise production by 548k barrels per day in August, accelerating its plan to return supply to the market and exceeding analyst expectations, according to a statement from the group. The August hike is larger than previous monthly increments of 411k bbl / d for May, June and July.

The rationale: The group cited a steady global economic outlook and healthy market fundamentals, including low oil inventories.

Getting closer to the finish line: With the August increase, Opec+ will have restored over 1.9 mn bbl / d, out of a total of 2.2 mn bbl / d in voluntary cuts, according to Reuters calculations. This is in addition to a separate 300k bbl / d increase granted to the UAE. The adjustments are separate from other production cuts amounting to about 3.7 mn bbl / d that remain in place.

Opec+ will meet on 3 August to decide on production levels for September, noting that the return of supply could be paused or reversed depending on market conditions.

We took a deep dive on Opec+’s output increase and what it means for us.

ALSO- Opec’s oil output rose by 270k bbl / d in June to a total of 27 mn bbl / d, according to a Reuters survey. The increase was driven by production hikes in Saudi Arabia (200k bbl / d) and the UAE (100k bbl / d) as part of a broader agreement of Opec+ — which includes Opec members and other allies like Russia. The overall rise was limited by Iraq, which cut production to compensate for previous overages.

HAPPENING TODAY-

Acwa Power’s rights issue trading and subscription for new shares will kick off today, the renewables giant said in a disclosure to Tadawul. The trading will end on 13 July, while the subscription period for new shares ends on 16 July.

IN CONTEXT- Acwa is out with the final prospectus (pdf) for its capital increase through an SAR 7.1 bn rightsissue, after it got the green light from shareholders last week, according to a disclosure to Tadawul. The move — part of the company’s strategy to triple its AUM by 2030 and bolster its capital base — will increase its capital by 4.63% to SAR 7.67 bn across 766.5 mn shares.

The details: The company will offer 33.9 mn new ordinary shares at a price of SAR 210 per share. Shareholders will have the right to subscribe to 0.0463 shares per each owned share, while any unsubscribed shares will be sold to institutional investors in a rump offering.

ADVISORS- SNB Capital is the lead manager on the transaction, while also acting as a financial advisor along with JP Morgan and Citigroup. The three banks are joined by Saudi Fransi Capital, FAB Capital, Emirates NBD Capital, and Natixis Saudi Investment as joint underwriters.

WEATHER- Riyadh is expected to see a high of 42°C and a low of 30°C, while Jeddah’s mercury will go as high as 40°C and as low as 29°C. Makkah will see a 41°C high and 33°C low.

HAPPENING TOMORROW-

The 2025 Esports World Cup kicks off tomorrow in Riyadh, running through 24 August. The tournament is bringing over 2k professional players and 200 clubs from more than 100 countries to compete across 25 tournaments for a record-breaking USD 70 mn prize pool. This year’s lineup includes top games, such as League of Legends, Dota 2, PUBG, Fortnite, Call of Duty, Valorant, and Tekken 8.

PSAs-

Riyadh Metro began operating on a new schedule on Fridays, starting the first service at 8am, the Riyadh Public Transport said on X. Schedules for the rest of the week remain unchanged, with the first service starting normally at 6am.

WATCH THIS SPACE-

#1- Aramco is mulling the sale of up to five of its gas-fired power plants in an effort to raise funds, potentially generating some USD 4 bn, Reuters reported on Friday, citing sources it said are in the know. While the timeline remains undetermined, local utility firms could be potential buyers, the sources said.

The power plants in question are part of a significant portfolio, as Aramco currently has full or partial ownership of 18 power facilities, with more — such as the Tanajib Gas Plant project — set to begin operations this year.

The prospective sale is part of a broader strategy by the oil giant to free up capital, boost net income, cut costs, and support dividend payments to the Kingdom. This divestment strategy may extend to other non-core assets, including housing compounds, pipelines, and port infrastructure, the sources said.

IN CONTEXT- The move comes as the government — which holds an 81.5% stake in Aramco — seeks to finance major diversification projects, as it faces budget deficit that widened to SAR 58.7 bn in the first quarter, and could reach 6% of GDP this year on the back of falling oil prices.

ALSO- BlackRock is reportedly in talks to sell its stake in Aramco’s natural gas pipeline network back to the state-owned oil company, Bloomberg reported on Thursday, citing people familiar with the matter. The US investment firm, as part of a consortium, bought a 49% stake in Aramco’s pipelines’ leasing asset back in 2021 for USD 15.5 bn.

#2- Two fintechs mull IPO: Al Rajhi Bank-owned small loans and credit cards provider Emkan Finance and retail and corporate financing provider Tamweel Aloula are making ready for IPO, Bloomberg reported on Friday, citing sources it says are in the know. Emkan has reportedly tapped Morgan Stanley and Al Rajhi Capital as advisors, the sources added.

Fintechs have been doing well: Newly listed fintechs delivered strong gains on Tadawul, with United International Holding’s share price up more than 18% since listing late last year, while Rasan is trading up 132% since its debut in June 2024.

#3- Riyad Bank intends to issue USD-denominated tier 2 trust certificates, it said in a disclosure to Tadawul. The value of the offer, including amount and terms, will be determined by market conditions. The issuance aims to raise funds from local and international eligible investors for “general banking purposes.”

ADVISORS: The bank has tapped Standard Chartered, HSBC, Merrill Lynch International, JP Morgan Securities, SMBC Group, Mizuho International, DBS Bank, and Riyad Capital as joint lead managers.

#4- The second round of negotiations over a GCC-Japan free trade agreement wrapped up in Tokyo last Friday, state news agency SPA reports. The round saw the discussion extend to barriers to trade, financial services, migratory issues, intellectual property, rules of origin, and dispute settlement, with a final agreement expected to be reached in future rounds.

IN CONTEXT- Negotiations on a GCC-Japan FTA were first held between 2006 and 2009, before resuming last December after the parties involved agreed on the terms of reference in October.

DATA POINTS-

E-commerce sales in the Kingdom via Mada cards rose 56% y-o-y to a record SAR 69.3 bn in 1Q 2025, with the number of transactions surpassing 370 mn during the quarter, according to the Saudi Central Bank’s May bulletin (pdf). Sales reached SAR 27.4 bn in May alone, marking an 17.7% increase from April’s SAR 23.3 bn, with over 147 mn transactions.

SPORTS-

Goodbye, Club World Cup: Al Hilal lost 2-1 to Fluminense last Friday, after the Brazilian side scored in the first and second halves of the Club World Cup quarter-final. Al Hilal dominated the statistics board with 58% possession and 15 attempts at goal (4 on target), but could not translate the difference to the scoring board.

What is next? The team led by Italian coach Simone Inzaghi is scheduled to face Al Qadsiah for the Saudi Super Cup semifinals at the Hong Kong Stadium on 20 August at 3pm.

British boxer Tyson Fury may come out of retirement to participate in the Riyadh Season next year, General Entertainment Authority Chairman Turki Alalshik said on X, adding that the opposite corner remains to be filled. Fury hinted that he would like to face Oleksandr Usyk once again, or Anthony Joshua, Reuters reported.

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THE BIG STORY ABROAD-

Trump’s Gaza ceasefire push sees mixed responses: US President Donald Trump said on Friday there “could be a Gaza deal next week” after Hamas responded in a “positive spirit” to his administration’s proposal for a 60-day ceasefire. The plan, which Trump labelled a “final proposal,” sees Hamas releasing half of the roughly 50 hostages it still holds and entering talks to end the war. Trump told reporters that he remains “very optimistic” but had yet to be briefed on the specifics.

Israel says Hamas changes are ‘unacceptable’ but will resume talks: While Hamas said it was ready to immediately enter a new round of negotiations on the US-brokered ceasefire, Israeli Prime Minister Benjamin Netanyahu’s office said the changes Hamas requested were “unacceptable.” Still, Israel will send a delegation to Qatar today to continue negotiations, aiming to secure the hostages’ release. Netanyahu is also expected to meet Trump in Washington on Monday, where the ceasefire agreement will top the agenda.

Bloodshed continues as talks loom: Over the weekend, Israeli airstrikes killed at least 138 Palestinians, including 15 people in an overnight attack on a tent encampment near Khan Younis, according to local health officials. (Reuters | Bloomberg | The Guardian | FT)

AND- Musk launches ‘America Party:’ Former Trump adviser Elon Musk announced the formation of the America Party on Saturday, saying it will “give you back your freedom” after an X poll showed strong support for a new US political party. (Reuters | The Guardian | Axios | New York Times)

Non-oil activity growth hits three-month high in June

Non-oil business activity in the Kingdom accelerated in June, driven by expansions in new client demand and a surge in hiring, according to the Riyad Bank Saudi Arabia PMI (pdf). The seasonally adjusted headline figure rose to a three-month high of 57.2 in June, up from 55.8 in May, slightly above its long-run average of 56.9

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New orders rose at the fastest pace in four months: The rate of new business growth rose to 64.3 in June from 62.5 in May, a significant improvement compared to a 58.6 low in April, Reuters reported. Firms attributed the improvement to the acquisition of new clients, enhanced marketing, and better demand conditions, with the upturn primarily driven by domestic sales.

Output levels saw softer growth, however: While demand drove another expansion of output at the end of the second quarter, the pace of activity growth eased slightly to a ten-month low, according to Riyad Bank.

Employment levels surged: The Kingdom saw staffing levels increase to the highest level since mid-2011, marking the fastest pace of employment growth in over 14 years. The growth came as “companies actively expanded their frontline and skilled teams to meet higher workloads,” Riyad Bank Chief Economist Naif Al Ghaith said.

Purchasing activity grew at its fastest rate in two years, in response to rising input needs to fulfill new orders. Nearly 40% of survey respondents increased their purchases.

Cost pressures pushed up selling prices: The surge in hiring contributed to the highest increase in wage costs on record, in a bid to retail talent. This — along with rising material prices — led to companies raising their selling prices, reversing the declines seen in May and “signalling an improved ability to pass on higher costs to customers,” Al Ghaith said.

Strong optimism for the year ahead: Confidence about future activity climbed to a two-year peak, supported by healthy order pipelines, robust demand, and stronger domestic economic conditions. “On the future outlook, sentiment among non-oil businesses remains highly positive,” Al Ghaith said.

Saudi + Indonesia sign USD 27 bn in private sector agreements

Saudi + Indonesia reinforce bilateral trade: Saudi and Indonesian companies signed agreements and MoUs valued at some USD 27 bn for investments in clean energy, petrochemicals, and aviation fuel, state news agency SPA reports. The agreements were signed during the first meeting of the Saudi-Indonesian Supreme Coordination Council, coinciding with the visit of President Prabowo Subianto to Riyadh.

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What we know: Renewables giant Acwa Power signed two separate MoUs with a combined value of USD 10 bn to develop Indonesia’s clean energy industry, it said in a press release.

The details: The first agreement was signed with Badan Pengelola Investasi Daya Anagata Nusantara (Danantara Indonesia) to explore potential investments in renewable energy generation, combined cycle gas turbines, green hydrogen and water desalination.

The second agreement was signed with PT Pertamina to develop clean energy projects, including 500MW of renewable energy, gas-to-power and green hydrogen projects, a new electrical tender, and operation and maintenance (O&M) business lines.

The council sets the agenda: The two countries agreed to coordinate actions leading to the stabilization of global energy markets, investment in the health sector, and collaborations in several areas and activities, including the digital economy, manufacturing sector, and mining industry as well as food security, among others. Details on the rest of the agreements are not yet disclosed.

Looking ahead: Riyadh and Jakarta agreed to hold a second meeting in the near future, to continue developing a joint roadmap through the holding of regular investment forums.

DATA POINT- Saudi-Indonesian bilateral trade amounted to USD 31.5 bn in the last five years, making the Kingdom Indonesia’s top trading partner, SPA reported.

Tourism employment rises 4.1% y-o-y in 1Q 2025 to 983k

Employment in the tourism sector rose 4.1% y-o-y in 1Q 2025 to 983.3k workers, according to Gastat’s latest tourism statistics report (pdf). Saudi employees made up 24.8% of the workforce at 243.4k workers, while the remaining 75.2% were non-Saudis.

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As a share of the total workforce, employment in the tourism industry fell 0.3 percentage points y-o-y to 5.4%. Meanwhile, the share of tourism jobs in the private sector dipped to 8.1%, down 0.6 percentage points from 1Q 2024.

REMEMBER- The Kingdom will implement a three-phase Saudization plan for 41 private tourism professions, with phase one beginning in April of next year.

Hospitality facilities surged: The number of licensed tourism hospitality facilities jumped 78% y-o-y to 5k by the end of 1Q 2025, including 2.4k hotels — up 67.5% — and 2.6k serviced apartments and similar facilities — up 89.1%.

Mixed occupancy trends: Hotel room occupancy reached 63% during the quarter, up 2.1 percentage points y-o-y, while occupancy in serviced apartments and other hospitality facilities fell 3.8 percentage points y-o-y to 50.7%.

Room rates diverged: The average daily hotel room rate dropped 3.4% y-o-y to SAR 477. However, rates in serviced apartments and other facilities rose 7.2% to SAR 209.

Steady hotel stays: Hotel guests’ average stay remained unchanged y-o-y at 4.1 nights in the first quarter. Serviced apartment guests stayed an average of 2.1 nights, down 4.5% y-o-y.

Office market heats up in 1Q 2025 with record rents, high occupancy -Knight Frank

Grade A rents in Riyadh rose 23% y-o-y to a record SAR 2.7k per sqm in 1Q 2025, while Grade B rents rose 24% exceeding SAR 1.5k per sqm, according to Knight Frank’s Spring 2025 Saudi Arabia Commercial Market Overview (pdf).

The breakdown: Prices of Grade A in Jeddah increased 4% y-o-y to SAR 1.3k per sqm, while those in Grade B grew 6% y-o-y to SAR 845 per sqm. Grade A rents in Dammam Metropolitan Area remained stable at SAR 1k per sqm, while Grade B rents were up 6% y-o-y to SAR 845 per sqm.

Grade A occupancy is inching up: Occupancy rates in Riyadh’s Grade A offices reached 98% (up one percentage point) by the end of 1Q 2025. Meanwhile, occupancy was up by 2 percentage points y-o-y to 95% in Jeddah, and up 2 percentage points y-o-y to 87% in Dammam.

.. and Grade B too: Occupancy for Grade B offices in Riyadh were up 3 percentage points y-o-y to 97%. Jeddah’s occupancy was up 6 percentage points y-o-y to 95%, while the DMA remained unchanged at 72%.

The drivers: Demand for office space is being driven up by the Public Investment Fund (PIF) and subsidiary companies taking most of the available units, Amar Hussain, associate partner for research at Knight Frank MENA, told Semafor. “You have these entities coming in and locking entire floors at rates most companies can’t match,” Hussain said. This is coupled with the Regional Headquarters Program, which requires foreign firms to move their hubs to the Kingdom by 2026 to be eligible for government contracts.

LOOKING AHEAD- A total of 2.7 mn sqm of new office space is expected to be completed across the Kingdom in the next two years. Riyadh’s total office stock was 5.5 mn sqm at the end of 1Q 2025 and is projected to increase to 9.8 mn sqm by 2027. Jeddah’s office stock is forecasted to grow to 1.8 mn sqm by 2027 from 1.6 mn over the same period. The DMA is expected to reach 1.7 mn sqm of office space by 2027, up from 1.5 mn sqm as of 1Q 2025.

UAE-based Burjeel acquires PhysioTrio

M&A WATCH-

#1- UAE-based Burjeel Holdings acquired a 100% stake in Riyadh’s PhysioTrio Physiotherapy Center through its subsidiary, Burjeel Arabia, it said in a press release on Thursday. Burjeel will integrate the center — which specializes in sports rehabilitation and has contracts with the Sports Ministry — into its expanding PhysioTherabia network in the Kingdom. Financial details remain undisclosed.

Background: Burjeel launched PhysioTherabia in 2023 in partnership with Leejam Sports, with a network that now includes 30 sports rehabilitation and physical therapy centers across the Kingdom, including eight new centers in Riyadh, Jeddah, Dammam, Al Khobar, and Yanbu inaugurated last year.

More to come? The firm wants to grow its PhysioTherabia network to 60 facilities, a spokesperson from Burjeel told EnterpriseAM in response to emailed questions.

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#2- Thimar Development Holding reduced its stake acquisition in the Yamama Plus Serviced Apartments to 22%, it said in a disclosure to Tadawul last Thursday. The transaction will be settled with the transfer of investments in the Osool and Bakheet Al Arba’a Fund to develop Yamama City Center.

IN CONTEXT- Thimar signed an agreement to buy a 26% stake in the Yamama Plus Serviced Apartments in April) valued at SAR 9 mn in exchange for a SAR 7.6 mn in-kind consideration and SAR 1.4 mm in banknotes.

IPO WATCH-

Al Modawat picks advisor for main market move: Al Modawat Specialized Medical Company appointed Estidamah Capital as its financial advisor to manage its planned move from the parallel market Nomu to the main market Tadawul, according to a disclosure to Tadawul published on Thursday. The shift is subject to regulatory approval from Saudi Exchange and the company meeting all listing requirements.

We knew this was coming: The company announced their plans to transition to the main market in June, after it listed a 20% stake on Nomu last year at SAR 111 apiece.

CAPITAL MARKETS-

The Securities Depository Center (Edaa) now offers Omnibus accounts for traded securities in the local capital market, aimed at easing the management of investors’ assets, according to a disclosure to the exchange published on Thursday.

ICYMI- Edaa rolled out a new platform, Edaa Connect, to digitally register all investment funds in February and set to serve as a central hub for subscription and redemption of mutual fund investments to both individual and institutional investors.

INFRASTRUCTURE-

Al Baha rolls out around SAR 1 bn in new projects: Al Baha Governor Prince Hussam bin Saud inaugurated municipal and housing projects worth SAR 238 mn for 2024 and launched new projects for 2025 valued at SAR 768 million, Al Baha Municipality said in on X last week.

REGULATION WATCH-

The Capital Market Authority (CMA) approved the Final Clearing Regulation and related financial collateral involving financial market institutions, it said in a statement on Thursday. The regulation ensures that qualified financial contracts remain enforceable even if one party defaults or faces bankruptcy, aiming to enhance financial stability and protect investor rights. It also defines the scope of application, eligible contracts, and exemptions from bankruptcy laws.

RETAIL-

Americana to bring Carpo stores to Gulf markets: Tadawul and ADX-listed F&B giant Americana Restaurants International signed an exclusive franchise agreement with Greece-based premium food brand Carpo to open and operate its stores in Kuwait and Qatar, with plans to expand to the Kingdom and Bahrain, according to a press release. The first flagship locations are expected to launch by late 2025.

Hong Kong reclaims IPO crown as Chinese firms flood market with dual listings

Hong Kong is on track to overtake Nasdaq and the New York Stock Exchange as the world’s top IPO venue this year, as Chinese companies fuel a dramatic rebound in equity fundraising on the exchange, CNBC reports. Listings surged eightfold to USD 14 bn in 1H 2025 on the Hong Kong Stock Exchange — the highest since 2021 — as firms rushed to tap resurgent investor demand, according to Dealogic data.

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The momentum will likely continue into 2H: Some 90-100 IPOs are expected to bring in upwards of USD 25.5 bn in proceeds in 2025, according to PwC.

Secondary listings from China are fueling the rebound: Much of the momentum stems from a wave of secondary listings by mainland firms, seeking to diversify funding sources, with at least 40 of the 200+ IPO candidates already listed on Chinese exchanges, according to Wind data. In May, Chinese battery giant CATL raised over USD 5 bn in a Hong Kong secondary listing — the largest such transaction globally this year.

Hong Kong’s rally and the influx from mainland China is also fueled further by the arrival of DeepSeek at the start of the year. Paired with stilted growth from China’s CSI 300, mainland investors have increasingly looked to better returns on equities in Hong Kong instead.

Beijing’s regulatory push is another key tailwind: Officials have fast-tracked offshore IPO approvals for qualified tech firms, while Hong Kong’s new Tech Enterprises Channel, launched in May, accelerates listings for AI and biotech companies. These policies “have provided a much-needed shot in the arm,” Dealogic’s Perris Lee said. Hong Kong is now seen as more “inclusive” of emerging sectors, BNP Paribas’ Wei Li added, making it a draw for firms with global ambitions.

It’s also benefitting from the shift away from the US amid geopolitical tensions and delisting risks. Despite this, New York’s exchanges — NYSE and Nasdaq — were bigger than Hong Kong overall in 1H, with some USD 16.2 bn in listings, according to PwC.

A sharp reversal from 2024: In December, Hong Kong’s Hang Seng stock market dropped 1.4% amid a sea of red across Asian indices, with China’s CSI 300 down 0.9% and Japan’s Nikkei off 1.2%, as investors weighed Beijing’s stimulus pledges against sluggish growth.

TASI	11,244	+1.0% (YTD: -6.6%)
MSCI Tadawul 30	1,443	+1.4% (YTD: -4.4%)
NomuC	27,288	-0.3% (YTD: -13.3%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	32,820	+0.4% (YTD: +10.4%)
ADX	9,982	0.0% (YTD: +6.0%)
DFM	5,753	+0.1% (YTD: +11.5%)
S&P 500	6,279	+0.8% (YTD: +6.8%)
FTSE 100	8,823	0.0% (YTD: +8.0%)
Euro Stoxx 50	5,289	-1.0% (YTD: +8.0%)
Brent crude	USD 68.30	-0.7%
Natural gas (Nymex)	USD 3.39	-0.7%
Gold	USD 3,347	+0.1%
BTC	USD 108,125	-0.1% (YTD: +15.6%)
Sukuk/bond market index	913.01	+0.1% (YTD: +1.2%)
S&P MENA Bond & Sukuk	145.8	-0.1% (YTD: +4.2%)
VIX (Volatility Index)	17.48	+6.7% (YTD: +0.8%)

THE CLOSING BELL: TADAWUL-

The TASI rose 1.0% last Thursday on turnover of SAR 5.6 bn. The index is down 6.6% YTD.

In the green: Cenomi Retail (+9.9%), Saudi Ceramics (+6.3%) and HB (+5.6%).

In the red: Alrajhi Takaful (-2.9%), SIECO (-2.5%) and Ades (-2.3%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.3% last Thursday on turnover of SAR 23 mn. The index is down 13.3% YTD.

In the green: Albattal Factory (+17.2%), Jana (+14.0%) and Mulkia (+8.0%).

In the red: Alqemam (-10.2%), Qomel (-6.3%) and Naas Petrol (-6.1%).

CORPORATE ACTIONS-

Saudi Fisheries Company submitted an application to the Capital Market Authority for a capital increase via a new rights issue worth SAR 334.9 mn, raising the company’s operating capital to SAR 401.9 mn, according to a Tadawul disclosure. The capital hike will be used to support the company’s strategic and future plans.

Foreign Minister lands in Moscow for trade, visas, and regional talks

Foreign Minister Prince Faisal bin Farhan visited Moscow on Friday, where he met with Russian Foreign Minister Sergey Lavrov to discuss boosting economic, cultural, and energy ties between the two countries, the Foreign Ministry said on X.

What was in the talks? Bin Farhan noted growing trade and tourism links, and said both sides are working toward a visa waiver agreement. The ministers reaffirmed their cooperation under the Opec+ alliance and discussed regional issues including Palestine, the Iranian nuclear file, and the Kingdom’s ongoing mediation efforts between Russia and Ukraine.

ALSO- The Kingdom will prioritize a lasting ceasefire in Gaza before considering the normalization of ties with Israel, Reuters quoted Bin Farhan as saying during the visit.

CALENDAR

JULY

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

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

17 July (Thursday): Deadline to register for the Kingdom’s first civil aviation hackathon

Avithon.

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.

3Q 2025

The National Water Company is expected to award a construction contract for the Hail Region Water Networks project.

SEPTEMBER

3-4 September (Wednesday-Thursday): Sustainable Maritime Industry Conference (SMIC), Ritz-Cartlon, Jeddah.

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 October (Wednesday): Electronic salary transfer via the Musaned platform to include employers with two or more domestic workers.

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

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

15 October (Wednesday): Russian-Arab Summit.

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

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

28-30 October (Tuesday-Thursday): Future Investment Initiative (FII9), King Abdulaziz International Conference Center (KAICC) and the Ritz-Carlton, Riyadh.

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

NOVEMBER

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

11-13 November (Tuesday-Thursday): TouriseSummit, Riyadh.

17-20 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre, 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.

24-26 November (Monday-Wednesday): Metropolis Madinah Conference for civilizational capitals, King Salman International Convention Centre (KSICC), Al Madinah.

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

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

DECEMBER

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

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

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

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

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.

2026

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

1 January (Thursday): Electronic salary transfer via the Musaned platform becomes mandatory for all domestic workers in the Kingdom.

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

13-14 February (Friday-Saturday): Jeddah E-Prix 2026, Jeddah.

31 March (Tuesday): Zatca’s 23rd E-invoicing integration wave deadline.

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

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