Non-oil exports grew 5.1% y-o-y in October, while imports fell

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WHAT WE’RE TRACKING TODAY

THIS MORNING: CMA signs off on Umm Al Qura Development IPO + a handful of Nomu debuts

Good morning, friends. We’ve come to the end of the last full work week of 2024 and can see some signs of the end-of-year slowdown.

THE BIG STORIES HERE AT HOME- Saudi Arabia’s non-oil exports rose 5.1% y-o-y in October, while imports dipped during the month. Meanwhile, Kingdom Holding invested an additional SAR 1.5 bn in Elon Musk’s xAI.

^^ We have chapter and verse on these stories and more in this morning’s news well, below.

☀️WEATHER- It’s another sunny day in Riyadh, with a high of 22°C and a low of 11°C. Meanwhile, Dammam is looking at a partially cloudy day with a high of 22°C and a low of 11°C. Over in Makkah, expect thunderstorms, a high of 29°C and a low of 19°C.

UPCOMING NEWS TRIGGERS-

Gastat willrelease today its 2023 report on the nonprofit and small and medium enterprises sectors.
Riyad Bank’s PMI report for December is set to be released on Sunday, 5 January. The Kingdom’s PMI rose to 59.0 in November after posting its strongest performance since July 2023.

PSAs-

#1- Applications for the Research, Development, and Innovation Authority’s (RDIA) 2025 grants are now open, with the grants designed to support research, development, and innovation projects across a handful of national priorities, RDIA said in a post on X. These priorities include health and wellness, sustainable environment, energy leadership, and future economies. The grants are open to researchers, innovators, and organizations across various sectors. Applications are open here.

#2- Applications for the Saudi Capital Market Awards close on Thursday, 9 January, with the awardwinners set to be announced at Riyadh’s Capital Markets Forum in February, it said in a statement. Independent committees from CFA Society Saudi Arabia and Middle East Investor Relations Association (MEIRA) will evaluate participants.

IPO WATCH-

#1- Umm Al Qura Company for Development and Construction can now proceed with its planned IPO of a 9.1% stake on Tadawul, after receiving the greenlight from the Capital Market Authority (CMA), according to a statement. The prospectus for the offering of 130.8 mn shares is yet to be published.

BACKGROUND- The company had tapped banks including Lazard, Al Bilad Capital, and GIB Capital for the planned IPO in January of last year, Bloomberg reported at the time. While the structure and pricing of the offering have yet to be announced, the business information service’s sources said at the time that an IPO “could raise a few hundred mn USD.”

#2- Adeer Real Estate + Ratio Speciality + Time Entertainment can move forward with Nomu IPOs after CMA approval: Adeer Real Estate lined up approval from the CMA for its planned IPO of a 20% stake (1 mn shares) on parallel market Nomu, according to a CMA statement. The regulator also signed off on Ratio Speciality ’s planned IPO of a 26% stake (5 mn shares), according to another statement, while Time Entertainment Company has the all-clear to move ahead with its planned IPO of a 20% stake to qualified investors, according to the CMA.

The regulator’s approval for an IPO offering is valid for six months, with additional information to be provided pending the publication of each offering’s prospectus.

WATCH THIS SPACE-

#1- Local and international companies now have until 21 January, 2025 to bid for five exploration licenses at the Jabal Sayid and Al Hajar mineralized belts, after the Industry and Mineral Resources Ministry extended the deadline, according to a statement. The successful bidder will be announced on 16 February.

BACKGROUND- Among the prequalified bidders are three consortiums and 11 companies, including Hancock Prospecting, Noring Ajlan & Bros, IGO, Silver Crop Metals, Vedanta, First Quantum Minerals, Golden Smelter, McQueen Mining, Grand Mining Limited, and K92.

#2- Al Futtaim’s Orient Ins. officially launched operations here at home, inaugurating its office in Riyadh’s Al Ghadir district, they said in a post on LinkedIn. The company is set to offer an extensive range of general, life, medical and motor ins. and reinsurance.

#-3 Budget carrier Flyadeal will start operating direct flights from Riyadh and Jeddah to Karachi, Pakistan twice a week on 2 February, 2025, the airline said on X.

DATA POINTS-

#1- The volume of reused treated water rose 13.3% y-o-y in 2023 to 554 mn cbm, with the establishment of four new water treatment plants, according to latest data (pdf) by The General Authority for Statistics (Gastat). Total capacity of municipal wastewater treatment plants rose 8.9% y-o-y to 2.5 bn cbm.

#2- Women’s labor force participation in Saudi Arabia grew 78.3% between 2Q 2020 and 2Q 2024, growing at an average annual rate of 20%, Al Watan reports based on its analysis of Gastat data. 2022 saw the highest rate of increase in women’s labor force participation, rising 22% y-o-y, before slowing down to 15% y-o-y growth in 2023.

#3- Some 2.3 mn freelance workers were registered on the platform Future Work as of September 2024, according to the platform’s 2024 report (pdf ). Some 38% of freelancers fall in the trade and retail sector, while human resources and social services accounted for 2% of freelancers’ work. The Riyadh province boasts the highest percentage of freelancers, hosting 27%.

#4- Jazan Governer Prince Mohammed bin Nasser bin Abdulaziz inaugurated SAR 12.6 bn worth of projects, including 465 municipal and housing initiatives valued at SAR 7.7 bn, while the province broke ground on 87 projects worth SAR 4.9 bn, according to Mubasher. The initiatives include 45 housing projects, 197 city operation and cleaning projects, 210 infrastructure projects, and 25 investment projects.

#5- The Saudi Authority for Industrial Cities and Technology Zones (Modon) signed 23 contracts worth over SAR 1.7 bn with private sector firms to develop infrastructure and superstructure projects across several industrial cities, as part of its 2024 development plans, it said in a post on X.

SPORTS-

The Green Falcons defeated Yemen 3-2 in yesterday’s Gulf Cup match, the Saudi national team said on X. The Kingdom’s next game is against Iraq on Saturday, 28 December.

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THE BIG STORY ABROAD-

Two stories are dominating the front pages this morning:

#1- An Azerbaijani passenger jet crashed in Kazakhstan yesterday, killing 38 people and injuring 29 others. The flight was en route from Baku to Grozny in southern Russia when it flew miles off course, then eventually crashed on shore. While it remains unclear why the flight diverted course, Reuters explains that the flight diverted “from an area of Russia that Moscow has recently defended against Ukrainian drone attacks.” Initial investigations by Russian authorities suggest that the accident was the result of the plane colliding with birds. (Reuters | The Guardian | AP | BBC | CNN | New York Times)

#2- Russia launched a missile attack targeting Ukraine’s energy infrastructure yesterday, which caused the Ukrainian state-owned electricity transmission company to restrict electricity in efforts to minimize damage to the country’s energy system. (Bloomberg | Financial Times | Reuters | New York Times | France 24)

CIRCLE YOUR CALENDAR-

#1- The three-day Future Minerals Forum kicks off on 14 January at Riyadh’s King Abdulaziz International Conference Center.

#2- The three-day Real Estate Future Forum kicks off on 27 January at the Four Seasons, Riyadh.

#3- LEAP 2025 will take place between 9-12 February at the Riyadh Exhibition & Convention Center in Malham. The tech event will bring together over 1.8k global tech brands, 1k experts and some 680 startups. LEAP 2025 will feature over 300 hours of content across 17 tracks, covering AI, fintech, edtech, smart cities, and more. Co-located with LEAP is DeepFest, a major AI-focused event bringing thought leaders and innovators under one roof.

#4- The eight-day Big 5 Construct Saudi will take place from 15-18 February and 24-27 February at the Riyadh Front Exhibition & Conference Center. The Kingdom’s largest construction event will feature over 2k exhibitors from more than 60 countries, showcasing innovations across the sector. The event is expected to attract over 75k participants.

Non-oil exports were up 5.1% y-o-y in October, while imports fell

The kingdom’s non-oil exports grew 5.1% y-o-y in October, according to the latest data from the General Authority for Statistics (Gastat) (pdf). Total non-oil exports including re-exports were up 12.7% y-o-y with re-exports increasing in value by 47.1% over the same period. Meanwhile, imports fell 3.8% in October, while the surplus of the merchandise trade balance declined 28.6% y-o-y.

Non-oil exports maintained their lead over imports: The ratio of non-oil exports to imports jumped 5.1 percentage points y-o-y to 35.2% in October, on the back of a 12.7% rise in non-oil exports, while imports fell 3.8%.

Chemical goods are still our biggest non-oil export category, accounting for 26.8% of total non-oil exports in October, down 3.7% y-o-y. Plastics, rubber, and their derivatives followed, accounting for 23.7% of non-oil exports, remaining basically unchanged compared to last year.

MEANWHILE- Merchandise exports decreased 10.7% y-o-y, driven by a 17.2% decrease in oil exports. Oil exports accounted for 72.6% of total exports in October, down from 78.3% in the same period last year.

No surprise here — China is still our top trading partner: The Kingdom’s merchandise exports to China made up 16.1% of total exports in October, followed by India (9.5%) and Japan (9.4%). Meanwhile, imports from China accounted for nearly a quarter (24.4%) of Saudi’s total imports in the same period, followed by the US (7.9%) and the UAE (6%).

Topping the list of suppliers: The US accounted for 7.9% of the Kingdom’s total imports, followed by the UAE (6%), making them our second and third biggest sources of imports after China. India, Germany, Italy, Egypt, Japan, South Korea and the UK were among the Kingdom’s top 10 import markets, accounting for a combined 64.1% of total imports.

Ports in focus: Dammam’s King Abdulaziz Port handled 29.4% of imports in October 2024, followed by Jeddah Islamic Port (20.5%), and Riyadh’s King Khalid Int’l Airport (13.4%).

ON THE OIL FRONT-

Oil exports are trending low: Oil’s share of total exports dropped by 5.7 percentage points y-o-y to 72.6% in October 2024, with total oil exports dropping 17.2% y-o-y.

KHC invests SAR 1.5 bn in Elon Musk's xAI in series C round

Kingdom Holding Company (KHC) made a SAR 1.5 bn (USD 400 mn) equity investment in Elon Musk’s xAI in its series C funding round, according to a disclosure to Tadawul. The investment is part of KHC’s strategy to secure early stakes in innovative companies, it said in the disclosure. No details were provided on the size of the equity stake KHC will receive in exchange.

Doubling down on Musk: KHC, the investment vehicle of Prince Alwaleed bin Talal, also invested in xAI’s USD 6 bn series B funding round in May. The company is separately the second-largest shareholder in Musk-owned social media platform X (formerly Twitter), with Prince Alwaleed and KHC collectively holding a 4% stake in the platform.

By the numbers: xAI’s valuation is now at USD 45 bn (SAR 168.8 bn), up from USD 25 bn (SAR 93.8 bn) in the series B round, implying that KHC’s earlier investment “has already appreciated, driven by the substantial valuation growth of xAI.”

Not the only Saudi investor: Al Moammar Information Systems invested USD 1 mn in xAI back in May. The investment was made through the company’s self-financed SAR 40 mn AI fund, which it set up for the purpose of investing in global AI players.

The Kingdom has big AI ambitions: The Saudi Data and Artificial Intelligence Authority expects the domestic AI market to contribute 12% to GDP, according to a September report. The Kingdom is also reportedly planning a USD 100 bn AI project, Project Transcendence. Meanwhile, the Public Investment Fund is looking to set up a USD 40 bn AI-focused fund that would make it the world’s largest investor in artificial intelligence.

The gulf ♥️xAI: The round also saw participation from UAE’s tech-focused investor MGX, Qatar’s Investment Authority and Oman Investment Authority, according to a blog post on xAI’s website.

Ma’aden now owns 85% of the Wa’ad Al Shamal JV with Sabic

Ma’aden takes a bigger slice of a JV with Sabic: Ma’aden acquired Mosaic Phosphates BV ’s full 25% stake in the Ma’aden Wa’ad Al Shamal Phosphate Company (MWSPC) joint venture, according to a disclosure to Tadawul. This raises Ma’aden’s ownership in the JV to 85%.

The fine print: Mosaic will offload its entire 25% stake in MWSPC in exchange for 111 mn newly issued shares in Ma’aden, which will amount to 2.9% of Ma’aden’s share capital following the transaction. The mining company set a share swap ratio for its outgoing shares of 0.53 for every 1 share in MWSPC, which brings the total transaction value — including guarantor’s rights and the fertilizer product marketing agreement — to SAR 5.6 bn. Both parties will be held to a lock-up period of 5 years.

Advisors: Our friends at HSBC acted as financial advisors to Ma’aden, while AS&H Clifford Chance provided counsel.

FinMin closes SAR 11.6 bn in December sukuk issuance

The Finance Ministry closed its December sukuk issuance, raising SAR 11.6 bn from fixed-income investors, up from SAR 3.4 bn last month, according to a statement (pdf) by the National Debt Management Center (NDMC). This is part of the government’s SAR-denominated sukuk program.

December saw yields on all tranches tick up on a monthly basis. The issuance was structured in five tranches:

A 3-year tranche valued at SAR 5.6 bn with a 5.1% yield;
A 5-year tranche valued at SAR 3.9 bn with a 5.15% yield;
A 7-year tranche valued at SAR 706 mn with a 5.19% yield;
A 10-year tranche valued at SAR 1.4 bn with a 5.25% yield;
A 12-year tranche valued at SAR 2k with a 5.27% yield.

A snapshot of total outstanding debt: The Kingdom’s total direct debt stood at SAR 1.2 tn (USD 308.7 bn) as of 3Q 2024, consisting of SAR 688.7 bn (USD 183.7 bn ) in domestic debt and SAR 468.9 bn (USD 125 bn ) in external debt, as of the end of September 2024, according to NDMC’s website.

Crown Prince named personality of the Year 2024

Crown Prince Mohammed bin Salman was named the Arab Heritage Cultural Center’s Personality of the Year 2024, Al Watan reports. The title recognizes his efforts in women’s empowerment, cultural reforms, and Saudi Arabia’s transformation, blending modernization with Arab traditions.

Methodology: The title holder was determined through a Europe-wide survey conducted from March 2023 to December 2024, with input from students, journalists, intellectuals, and internet users, identified influential figures in collaboration with cultural institutions.

National air carrier Saudia claimed Cabin Crew of the Year at the Aviation Business Middle East Awards 2024, spotlighting the exceptional service and professionalism of its crew, according to a press release.

The Roads General Authority took home two awards at the Project Management OfficesSummit, according to state news agency SPA. It secured first place in asset management transformation for shifting from traditional road maintenance to a full asset life cycle management approach. The authority also claimed third place for transitioning to performance-based maintenance contracts.

Edtech startup Ynmo closes USD 5 mn round led by Wa’ed Ventures

STARTUP WATCH-

Aramco’s VC arm Wa’ed Ventures led a USD 5 mn investment in homegrown edtech startup Ynmo, with other investors including Qatar Development Bank (QDB) and Nour Nouf Ventures, according to a press release. The funding will help Ynmo grow its service offerings and introduce new features to improve its educational and rehabilitative support for children with disabilities.

About Ynmo: Founded in 2017, the edtech company uses technology to develop tailored educational and rehabilitation programs. Its AI-backed platform connects specialists and families, offering advanced therapy solutions in behavioral, speech, and psychological support.

DEBT WATCH-

#1- Saudi Pharma Industries and Medical Appliances (SPIMACO) secured a SAR 220 mn shariah-compliant credit facility from Alinma Bank, according to a disclosure to Tadawul. The agreement includes a one-year, SAR 20 mn short-term facility and a five-year, SAR 200 mn medium-term facility. The facilities, guaranteed by a promissory note, will finance SPIMACO's working capital needs.

#2- Bank Aljazira is mulling an Additional Tier 1 Sukuk issuance via private placement under its SAR 5 bn Sukuk Issuance Program, according to a disclosure to Tadawul. The proceeds of the issuance — the size of which was not disclosed— will go to supporting the bank's capital base and strategic objectives. The issuance will be priced and structured based on market conditions. Aljazira Capital, Al Rajhi Capital, and HSBC Saudi Arabia have been appointed as joint lead managers and dealers.

TRANSPORT-

Uber rolled out its RPT link service in Riyadh, with the aim of streamlining access to public transport stations with digital, first-mile and last-mile solutions, Saudi Projects said. The service offers users up to two rides per day at not cost to and from Riyadh train stations, complemented by dedicated route buses.

Private equity returns remain subdued in 2024 as transaction drought drags on

Private equity payouts will deliver just half the value of their usual annual cash returns to investors this year, marking the third consecutive year of underperformance, driven by a slowdown in dealmaking activity, the Financial Times reports, citing industry executives. Buyout firms typically sell approximately 20% of their holdings each year, but funds have collectively underdelivered on USD 400 bn in payments to investors over the past three years, according to Cambridge Associates.

Sales are closing at discounts: A recent Goldman Sachs report said that sales often close at discounts of 10-15% below internal valuations.

The slowdown comes on the back of a challenging environment for agreements: Higher interest rates have driven up financing costs and caused corporate valuations to slide, making it difficult for firms to secure attractive transaction terms, the salmon-colored paper notes. M&As are expected to end the year with a 15% y-o-y growth to USD 3.5 tn, marking a 7% y-o-y increase in volume — falling short of earlier hopes for a bigger recovery amid hopes for lower rates and more investments from private equity players.

Recovery in 2025? Industry executives and advisors expect M&A activity to pick up pace next year, potentially helping PE firms address what Bain & Company describe as a “towering backlog” of USD 3 tn in maturing agreements requiring exits. Popular public listings in 2024 — including Lineage Logistics, Standard Aero, and Galderma — have also buoyed confidence among PE players looking to exit their investments, along with the rally on Wall Street in the past couple of months since Donald Trump’s election in the US.

Continuation funds — where assets are sold between funds managed by the same firm to facilitate exits — will be a key strategy to return capital to investors. Jefferies forecasts that these funds will account for a record USD 58 bn in PE exits this year, representing 14% of total activity, up from just 5% during the 2021 peak.

Even so, it won’t happen overnight. “There is an expectation that the wheels of the exit market will start to turn. But it doesn’t end in one year; it will take a couple of years,” Cambridge Associates’ global head of private investments, Andrea Auerbach, said.

ALSO WORTH KNOWING ON PLANET FINANCE-

US banking giants take over US banking industry in 2024: US banks JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo generated a net income of USD 88 bn in 9M 2024, accounting for 44% of the sector’s income in the US, according to Financial Times calculations. Including US Bank, PNC, and Truist, the seven largest banks generated 56% of the sector’s income during this period, up from 48% in 2023. This marks the largest share of industry net income in the first nine months of the year in nearly a decade.

MARKETS THIS MORNING-

Asian markets are mostly up in trading, with Japan’s Nikkei and Topix gaining ahead of news of a bumper budget set to be announced for its fiscal year starting April. South Korea’s Kospi is also up, while China opened lower, and Hong Kong’s market remained closed for Boxing Day.

Wall Street futures are little changed as markets come back from the Christmas holiday, with investors holding their breath for a so-called “Santa Claus rally” to end the year on a strong note.

TASI	11,892	-0.2% (YTD: -0.6%)
MSCI Tadawul 30	1,494	-0.2% (YTD: -3.7%)
NomuC	31,007	+0.3% (YTD: +26.4%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	30,005	+0.1% (YTD: +20.5%)
ADX	9,415	-0.2% (YTD: -1.7%)
DFM	5,084	+0.1% (YTD: +25.2%)
S&P 500	6,040	+1.1% (YTD: +26.6%)
FTSE 100	8,137	+0.4% (YTD: +5.2%)
Euro Stoxx 50	4,858	+0.1% (YTD: +7.4%)
Brent crude	USD 73.58	+1.3%
Natural gas (Nymex)	USD 3.95	+7.9%
Gold	USD 2,636	+0.3%
BTC	USD 98,535	+0.2% (YTD: +133.1%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.2% yesterday on turnover of SAR 2.8 bn. The index is down 0.6% YTD.

In the green: Al Baha (+8.3%), Red Sea (+6.3%) and SIDC (+5.1%).

In the red: MBC Group (-3.3%), Bawan (-3.05%) and Savola Group (-3%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.3% yesterday on turnover of SAR 39.7 mn. The index is up 26.4% YTD.

In the green: Mayar (+14.2%), Sama Water (+13.4%) and Meyar (+9.9%).

In the red: Al Dawliah (-10.9%), WSM (-7.4%) and AlJouf Water (-6.1%)

Top spots to celebrate New Year’s eve in Saudi Arabia

Make your New Year’s Eve in the Kingdom more than just a countdown: Whether you’re planning to ring in the new year solo or share the festive cheer with your loved ones, we have a roundup of how and where you can make the most out of your night in the Kingdom.

FOR A DUAL CELEBRATION-

#1- Boulevard City: Watch Boulevard Riyadh transform with live concerts, dazzling fireworks, and an electrifying atmosphere. With performances by top local and regional artists, this lively hub is perfect for families and friends eager to experience the city’s New Year’s energy.

Price: Entry without charge.

#2- Al Nakheel Mall: The perfect destination for bargain hunters and holiday shoppers, Al Nakheel Mall is where you go for a side of fun with your festive shopping. The mall will be rife with New Year sales, entertainment zones and live performances for last-minute shoppers.

FOR A NIGHT UNDER THE STARS-

#3- Diriyah Oasis: Head to Diriyah Oasis for a family-friendly celebration featuring interactive games, live performances and an awe-inspiring firework display. This open-air entertainment district may be our top recommendation for a lively and memorable evening with your loved ones.

Price: SAR 100 for entry.

#4- Winter at Tantora, Alula: Step into a living museum at AlUla’s ongoing cultural Tantora Festival. The celebrations begin in Old Town, showcasing handcrafted art, traditional dances, and visual storytelling.

#5- Thumama National Park: From dune bashing and archery to sandboarding and bubble ball, Thumamah Park ’s desert thrills are a treat for adrenaline junkies. Nestled just 60km north of Riyadh, the desert camping experience ends with a traditional meal under the stars.

Price: SAR 550 per person (in a group of at least five people).

FOR A DINE-AND-DANCE NIGHT-

#6- Al Faisaliah Hotel: Dine with stunning views of Riyadh's skyline at Al Faisaliah ’s rooftop, the Globe. The romantic setting, gourmet cuisine and live music make it an unforgettable way to welcome the new year.

#7- La Petite Maison: Dress in white and silver to match the “Moonlit Elegance” theme at La Petite Maison. The Mediterranean-inspired set menu will feature delicacies like foie gras terrine and seafood towers, paired with live DJ performances and violinist Pasha Cazan.

Price: SAR 812 minimum spend.

#8- Roka: Whether you’re in Riyadh or Jeddah, get ready for a lively celebration at Roka, where signature robatayaki dishes meet dynamic live entertainment. You can choose between a la carte options or tasting menus and enjoy complimentary non-alcoholic bubbles as you toast to the new year.

HONORABLE MENTION-

#9- Mnky Hse: Step into a golden New Year’s Eve celebration at Mnky Hse Riyadh ’s Fiesto de Oro, paired with a Latin American-inspired set menu and live entertainment that will keep the energy high all night.

Price: SAR 550 per person.

#10- Dammam Corniche: The popular waterfront becomes a pedestrian-only zone adorned with dazzling lights and festive decorations for the New Year. Dammam Corniche ’s stages host live music and performances, while food stalls and vendors line the path. It’s the ideal spot for families to celebrate by the sea.

CALENDAR

DECEMBER

28 December (Saturday): Deadline for registration in SDAIA’s Injaz Hackathon.

29 December (Sunday): Final allocation for Almoosa Health’s Tadawul IPO.

31 December (Tuesday): Last day for taxpayers to benefit from Zatca’s fines and penalties waiving initiative.

31 December (Tuesday): Engineers in the public sector will be subject to a new pay grade scheme.

1Q: BinDawood Holding expected to close 100% acquisition of Zahrat Al Rawdah Pharma

1Q: Roshn expected to raise SAR 2.6 bn from international bank

JANUARY 2025

1-17 January (Wednesday-Friday): 2025 Dakar, Bisha and Shubaytah.

5 January (Sunday): Launch day for Riyadh Metro line 3.

7-9 January (Tuesday-Thursday) Saudi Tourism Forum, Riyadh Front, Riyadh.

9 January (Thursday): Deadline to submit applications for the Saudi Capital Market Awards.

12 January (Sunday): Launch ceremony of the standard incentives for the industrial sector.

13-16 January (Monday-Thursday): Hajj Conference and Exhibition, Superdome, Jeddah.

14-16 January (Tuesday-Thursday): Future Minerals Forum, King Abdulaziz International Conference Center, Riyadh.

15-16 January (Wednesday-Thursday): The International Learning and Technology Conference, Effat University, Jeddah.

21 January (Tuesday): Data Center Nation, Mandarin Oriental Al Fasisaliah, Riyadh.

21-23 January (Tuesday-Thursday): The International Exhibition for Material Handling, Equipment, Warehouse Supplies, Forklifts & Heavy Equipment, Riyadh International Exhibition Center.

21-23 January (Tuesday-Thursday): Saudi International Exhibition for E-Marketing and E-Commerce, Riyadh International Convention and Exhibition Center.

25 January (Saturday): The opening of the 2025 Islamic Arts Biennale, Western Hajj Terminal of King Abdulaziz International Airport, Jeddah

27-29 January (Monday-Wednesday): Real Estate Future Forum, Four Seasons Hotel, Riyadh.

27-29 January (Monday-Wednesday): Saudi Franchise Expo, Riyadh International Convention and Exhibition Center.

28-29 January (Tuesday-Wednesday): Federal Open Market Committee meeting.

28-29 January (Tuesday-Wednesday): Sustainability Forum Middle East, Riyadh.

29-30 January (Wednesday-Thursday): Global Labor Market Conference, Riyadh.

31 January (Friday): Deadline for businesses to update their registered customs items.

FEBRUARY 2025

1 February (Saturday): UFC event, The Venue, Riyadh.

2 February (Sunday): Flyadeal launches direct flights to Karachi, Pakistan, departing from Riyadh and Jeddah twice a week.

3-5 February (Monday-Wednesday): Saudi International Marine Exhibition (SIMEC), Riyadh.

4-5 February (Tuesday-Wednesday): The RLC Global Forum, Riyadh.

4-5 February (Tuesday-Wednesday): Capital Markets & ESG Finance, Hilton Riyadh Hotel & Residences.

6 February (Thursday): Property registration deadline for owners in several districts of seven Qassim cities.

6-8 February (Thursday-Saturday): LIV Golf season opener, Riyadh Golf Club, Riyadh.

8 February (Saturday): Sotheby’s first auction in the Kingdom, Diriyah.

9-12 February (Sunday-Wednesday): LEAP Tech Conference, Malham, Riyadh.

9-12 February (Sunday-Wednesday): DeepFest by Leap, Riyadh.

10-12 February (Monday-Wednesday): Saudi Travel Market, Riyadh International Exhibition Center.

10-13 February (Monday-Thursday): Leap 2025, the Kingdom’s premier tech investment conference.

14-15 February (Friday-Saturday): Formula E, Diriyah.

15-18 February (Saturday-Tuesday): Week one of Big 5 Construct Saudi, Riyadh Front Exhibition & Conference Center.

16-17 February (Sunday-Monday): AlUla Conference for Emerging Market Economies, AlUla.

18 February (Tueday): The Capital Markets Forum, KAFD Conference Centre, Riyadh.

19-20 February (Wednesday-Thursday): The Capital Markets Forum, The Four Seasons, Riyadh.

19 February (Wednesday): Derayah REIT dividend distribution.

19-21 February (Wednesday-Friday): Saudi Media Forum, Riyadh.

22 February (Saturday): Founding Day.

23-27 February (Sunday-Thursday): Riyadh International Disputes Week, Hilton Riyadh Hotel Granada.

24-25 February (Monday-Tuesday): The Riyadh International Humanitarian Forum, Riyadh.

24-27 February (Monday-Thursday): Week two of Big 5 Construct Saudi, Riyadh Front Exhibition & Conference Center.

MARCH 2025

1-30 March: Ramadan.

18-19 March (Tuesday-Wednesday): Federal Open Market Committee meeting and Summary of Economic Projections.

31 March- 3 April (Monday-Thursday): Eid Al Fitr.

APRIL 2025

14-16 April (Monday-Wednesday): Future Hospitality Summit, Mandarin Oriental Al Faisaliah, Riyadh.

21-24 April (Monday-Thursday): Saudi Food Exhibition and Conference, Riyadh.

22-23 April (Tuesday-Wednesday): AAM Middle East, Riyadh.

7-9 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh.

MAY 2025

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

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

13-14 May (Tuesday-Wednesday): Global EV & Mobility Technology Forum, The Arena, Riyadh.

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

31 May-5 June (Saturday-Thursday): Hajj.

JUNE 2025

6-9 June ( Friday-Monday): Eid al-Adha.

17-18 June (Tuesday-Wednesday): US Federal Reserve’s Federal Open Market Committee meeting.

26 June (Thursday): 2024-2025 academic year ends.

JULY 2025

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

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

SEPTEMBER 2025

15-17 September (Sunday-Tuesday): Money 20/20 Middle East, Riyadh.

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

23 September (Tuesday): Saudi National Day.

OCTOBER 2025

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

NOVEMBER 2025

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

DECEMBER 2025

December: The Fortune Global Forum 2025, Riyadh.

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

2026

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

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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