PIF gains control of MBC in SAR 7.5 bn play

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Red Sea Global will take over Sindalah tourist island from Neom

Good morning, ladies and gents. We are back into your inbox with the latest in business and finance in rapidly shifting regional sands.

Leading this morning’s news well: The PIF finalized its SAR 7.5 bn play to take control of MBC, sending the media giant’s stock into new heights. Meanwhile, Aramco completed its second USD-denominated debt issuance this year.

ALSO- We got word from Riyadh Air, confirming to us that Saudi’s newest airline is slated for a 2025 launch despite aircraft delays. We also spoke to Madkhol Financial’s CEO Saad bin Atyan on the company’s newest offering Ratbi+, and Zilla Capital’s Managing Partner Moustafa El Shenety on their upcoming USD 150 mn fund geared towards Saudi healthcare.

WEATHER- Stormy week ahead: Thunderstorms and heavy downpours are forecast to persist across much of the Kingdom through Thursday, affecting Jazan, Asir, Al Baha, and Makkah in particular. Riyadh and Najran will see lighter showers, while parts of the Eastern Province may see scattered rain.

Riyadh: 42°C high / 31°C low,
Jeddah: 35°C high / 30°C low
Makkah: 39°C high / 32°C low.

PSAs-

Applications are now open for the privatization of the Military Uniforms & Accessories Factory (MUAF) in Riyadh and Al Kharj, in partnership with the Military Industries Corporation, the Industry and Mineral Resources Ministry, and the National Center for Privatization (NCP), the NCP said on X on Thursday. Submissions are accepted through the NCP website until 16 October.

We knew this was coming: The cabinet approved the project document to privatize MUAF on Tuesday.

WATCH THIS SPACE-

#1- PIF-owned Red Sea Global will reportedly take over the Sindalah tourist island from the USD 500 bn Neom project, the Financial Times reported, citing two sources it said are in the know. The move frees Neom which is reportedly undergoing a “comprehensive review,” reassessing budgets and progress of various developments facing headwinds, led by acting CEO Aiman Al Mudaifer, who took reins after the departure of CEO Nadhmi Al Nasr last November.

About Sindalah: The island was inaugurated last October for VIPs and a number of investors in a soft launch, enjoying the luxurious yacht marina and a golf club. The island was initially scheduled for opening earlier last year.

#2- PIF ban triggers massive layoffs at PwC? PwC Middle East has laid off some 60 partners and 1.5k employees after the Public Investment Fund (PIF) imposed a 12-month ban on new advisory contracts in February, the Financial Times reported, citing people familiar with the matter.

The ban exacerbated a broader consultancy slowdown in Saudi Arabia as spending on gigaprojects is recalibrated, with cuts largely hitting consulting staff tied to these projects. The double hit caused PwC's regional revenue growth to plummet to 0.4% for the fiscal year ending in June 2025, from the 26% growth recorded the previous year.

A leadership shake-up is also underway: Effective this October, PwC UK’s managing partner Laura Hinton will lead the Middle East business alongside incumbent senior partner Hani Ashkar, according to a staff email cited by the salmon-colored paper. Hinton is expected to become the sole senior partner within a year. Rumors had circulated in July on Hinton’s potential appointment.

Zooming out: The regional layoffs reflect wider pressures on the parent firm, which shed over 2k staff in the UK last year amid a broader market slowdown. Despite the cuts, PwC says overall regional headcount is stable thanks to hiring in other high-demand areas.

#3- Nomu logs another underwhelming debut: Shares of Nomu-listed Jamjoom Fashion Trading — the brand operator behind Nayomi and Mehyar — closed flat at SAR 145 a piece on their first day of trading. Some 110k stocks changed hands, generating turnover of SAR 16 mn across 606 trades, according to market data. The soft opening came just days after Wajd Life Trading shed more than 8% on its Nomu debut.

The SAR 345.7 mn IPO was main-market-grade in terms of proceeds. The company took a 30% stake to Tadawul's parallel market in a secondary offering that was 4.5x oversubscribed.

#4- Saudi Arabia will extend SAR 1.38 bn (USD 368 mn) in budget support to Yemen’s internationally recognized government in Aden, through the Saudi Development and Reconstruction Program, Reuters reported yesterday, citing a source it said is in the know. The funding is meant to ease currency weakness and rising prices, with Riyadh having previously offered SAR bns in aid and deposits to support the Aden administration’s finances.

REMEMBER- We have a major project along the Yemeni border: A SAR 2.2 bn smart food city is being developed in Najran Economic City at the Al Wadiah border crossing to strengthen ties with Yemen. The 1 mn sqm project will be developed over three years and will feature a dry port, cold storage, livestock quarantine areas, and packaging plants. Partners and investors have not yet been disclosed.

DATA POINTS-

The Kingdom’s non-oil trade balance surplus with the GCC countries widened 119% y-o-y during 2Q 2025 to SAR 11.96 bn, according to preliminary data from the General Authority for Statistics (Gastat). The UAE topped the list of non-oil trade with SAR 40.4 bn, followed by Oman at SAR 5.3 bn, Bahrain at SAR 4.7 bn, Kuwait at SAR 2.4 bn, and Qatar at SAR 1.6 bn.

SPORTS-

Al Ahli pulled off a dramatic comeback to draw 3-3 with Al Hilal in the Saudi Pro League after being three goals down at halftime. Theo Hernández and Malcom put Al Hilal in control, with Malcom scoring twice, but Ivan Toney struck twice later on and Merih Demiral netted in stoppage time to level the match. Both sides now have five points from three games, with Al Hilal sitting above Al Ahli on goal difference.

ALSO- Al Nassr opened its Asian campaign with a 5-0 victory over Tajikistan’s Istiklol in Riyadh on Wednesday. Goals were scored by Kingsley Coman, Abdulrahman Ghareeb, Wesley, Ângelo Gabriel, and Sadio Mané as Cristiano Ronaldo sat out the match.

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THE BIG STORY ABROAD-

Trump just slapped a USD 100k toll on the American Dream for immigrants, unveiling the steepest hike yet for H-1B visas and rolling out a “Gold Card” residency scheme that lets mn’aires buy their way into the US. The new rules — which target the work permits used by Silicon Valley to hire foreign engineers and scientists — also allow companies to pay USD 2 mn per worker to sponsor them.

The backlash has been swift: US immigration lawyers warn the six-figure fee could “effectively kill” the H-1B program, while Indian officials — whose nationals make up about three-quarters of approvals — said they will “consult on the best path forward.” Nasscom, India’s IT industry lobby, said the policy would create “considerable uncertainty” for US innovation and Indian workers alike. (Bloomberg | Financial Times | Reuters | New York Times | Associated Press | Wall Street Journal | Politico)

AND- ABC’s sudden suspension of late-night host Jimmy Kimmel after his comments about the killing of Charlie Kirk has sent shockwaves through America’s media world, with the Trump-appointed Federal Communications Commission chair openly threatening to pull broadcast licences from stations that don’t toe the line. Protesters gathered outside Kimmel’s Hollywood studio while major networks scrambled to adjust their programming, underscoring what one media scholar called a “continued lurch to the right” in US broadcasting. (Reuters | BBC | The Guardian)

ALSO MAKING HEADLINES- The White House says an agreement is near that would give US investors — led by Oracle — control over TikTok’s US operations, including the prized algorithm that drives the app’s video feed. (Associated Press | BBC | New York Times | Axios | Bloomberg)

PIF gains control of MBC in a SAR 7.5 bn play

PIF closes multi-bn MBC buyout: The Public Investment Fund (PIF) completed its SAR 7.5 bn acquisition of a 54% stake in Tadawul-listed broadcaster MBC Group, according to a joint statement (pdf). The acquisition, first announced last year, received all the necessary regulatory approvals, handing the sovereign wealth fund majority control of the region’s largest media group.

REFRESHER- PIF inked a binding agreement with Istedamah Holding in November of last year to buy up its entire stake in MBC at SAR 41.60 per share in a private transaction. The fund’s shares will remain on lockup for a period of six months.

Valuation swing: The purchase price came at a discount to MBC’s trading level at the time of signing last November (SAR 45.75), but now equates to a premium with the stock last closing at SAR 29.30, as the group grapples with what appears to be a stretched balance sheet.

The move fits into PIF’s broader pivot toward domestic investments. The fund has been trimming overseas equity exposure, while ramping up local and strategic plays. Earlier this month, it inked an MoU with Macquarie Asset Management to co-invest in local infrastructure, digital, and energy transition projects, part of its push to anchor diversification and draw in foreign investments.

Market reax: MBC’s stock gained nearly 10% to close at SAR 32.20 on the back of the news.

Aramco issues 15k bonds in USD 3 bn sukuk offering

Saudi Aramco completed a two-tranche Reg S-compliant USD 3 bn sukuk issuance, it said in a Tadawul disclosure on Thursday. The oil giant offered 15k bonds with a nominal value of USD 200k apiece and a USD 1k in excess, to be listed on the London Stock Exchange, after reportedly attracting over USD 20 bn in orders.

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The issuance was split evenly, involving a USD 1.5 bn, five-year tranche with a 4.125% quarterly coupon priced at 70 basis points above US Treasuries, and 10-year slice offering a 4.625% quarterly profit rate priced at 80 bps. Both came in about 35 bps tighter than what the company initially hinted at.

This is the second time Aramco taps the global bond market this year, after raising USD 5 bn in May in a US-denominated bond issuance under its global medium-term note program over three tranches.

ADVISORS- Our friends at HSBC, alongside Al Rajhi Capital, Citi, Dubai Islamic Bank, First Abu Dhabi Bank, Goldman Sachs International, JP Morgan, KFH Capital and Standard Chartered Bank are serving as active joint bookrunners. Meanwhile, Abu Dhabi Commercial Bank, Albilad Capital, Alinma Capital, Bank of China, Emirates NBD Capital, Mizuho, MUFG, Sharjah Islamic Bank and SMBC are passive joint bookrunners.

Riyadh Air remains confident that it will stay on schedule to launch this year

Riyadh Air is ready for lift-off in 2025: Saudi Arabia’s highly anticipated airline Riyadh Air is on track to kick off its operations this year, a representative of Riyadh Air told EnterpriseAM Saudi in an emailed statement. Despite global supply chain snags, “we remain confident that our launch will stay on schedule, with aircraft deliveries and operations progressing as planned,” the airline said.

What’s the holdup? Riyadh Air delayed its takeoff from earlier this year after facing delays in Boeing aircraft deliveries. Service is expected to begin once Boeing hands over the first two planes from the four Boeing 787 Dreamliners currently undergoing assembly.

The global aviation industry is feeling the impact of aircraft delivery delays. The airline is situated in the “same position as every airline in the world — looking for their planes to be delivered [...] it's just more critical for us, as these are the first planes we will be operating, and we do not have a backup fleet to utilize while we wait for the new ones to arrive” the company said.

BUT- Safety nets are ready: The airline told us it has built-in contingency measures to safeguard its timelines, should unforeseen delays appear. They are currently prepared to adjust phasing, prioritize key routes, and resort to alternative capacity to ensure continuity of operations.

ICYMI- The airline locked in an order for up to 50 Airbus aircraft during the 2025 Paris Airshow in June, boosting its order book to 182 aircraft. It also tapped Rolls-Royce for the engines related to the order.

Closer than you think? The carrier has already secured landing slots for its debut routes and will unveil its first destination and ticketing plans in the upcoming months. Meanwhile, media reports in July indicated Riyadh Air will launch flights on 26 October connecting Riyadh and London Heathrow Airport, after securing a daily slot.

REMEMBER- Riyadh Air eyes 100 skies by 2030. The airline voiced plans back in June to serve 100 cities by 2030, aiming to add a destination every two months once it’s operational.

A “disruptive model”: Riyadh Air plans to stand out as a digital-native airline, deploying AI to smooth its operations by using biometrics and advanced data analytics to ease the customer journey. “We curate seamless, end-to-end travel experiences, ranging from immersive digital touchpoints to onboard experience crafted around Saudi hospitality,” the airline told us.

Luxury flying options were showcased back in April — with snazzy Arabian tent canopy-inspired business class cabins. The airline’s Boeing 787s will feature a three-class layout — business, premium economy, and economy — with around 10% of the 290 seats allocated to business class.

The privacy edge sets it apart from Gulf peers: While matching competitors in spaciousness, the airline cabins stand out with sliding doors (privacy panels) to offer a more secluded travel experience, in addition to lie-flat seats, mood lighting, large entertainment screens, and high-speed Wi-Fi.

Freight is also in the cards: Riyadh Air told us they are designing a strategy that will accommodate a large bellyhold capacity across its anticipated fleet — set to boost the Kingdom’s overall cargo network. The airline is set to integrate AI-driven demand forecasting digital platforms for its cargo operation, and form partnerships with logistic players to streamline operations. The primary focus will be on high-value segments such as e-commerce, pharma, and perishable goods.

LOOKING AHEAD- The airline expects strong and sustained growth in Saudi Arabia’s airline market over the next five years. Passenger demand is expected to rise on the back of growing tourism and business travel into the Kingdom, while cargo volumes are also expected to hike up as the Kingdom plugs major investments into logistics and trade infrastructure under Vision 2030.

Madkhol launches new employee investment platform Ratbi+

Homegrown fintech startup Madkhol Capital launched Ratbi+, a savings and investment program for corporate employees in Saudi Arabia. The platform — unveiled during Money 2/20 Middle East — enables companies to convert employee rewards into professionally managed, shariah-compliant investment portfolios to aid in employee savings and retention, Madkhol Financial’s CEO Saad bin Atyan told EnterpriseAM Saudi.

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What does Ratbi+ do? Ratbi+ provides each employee with a personal investment portfolio funded by company contributions, according to Atyan. These funds vest over a specified period, requiring the employee to remain with the company to gain full ownership. This structure is intended to be mutually beneficial, encouraging employee retention for the company while helping staff build personal savings, Atyan told us.

A new take on compensation: The program aims to shift the traditionally transactional employer-employee relationship toward a long-term partnership, Atyan said. “For years, salaries have been treated as one-off transactions; money in, money out. What’s been missing is a way to transform salaries into a tool for long-term financial wellness. Ratbi+ was built to close that gap.”

The platform is highly customizable, allowing companies to decide how performance rewards are managed — either manually or through HR software integration — and whether employees can select their own investment risk tolerance or choose from predefined options, he said. Management can monitor key metrics like participation and savings through the dashboard, while the underlying portfolios, composed of assets like sukuk and Islamic funds, are automatically rebalanced to align with the chosen risk strategy, he added.

LOOKING AHEAD- Madkhol Financial, which is licensed by the Capital Market Authority, is offering trial periods for the new service, Atyan said. The company plans to actively gather feedback from its initial corporate clients to guide the product's evolution, he said. The long-term vision involves expanding its features and building a strong customer base through strategic partnerships.

Zilla Capital to establish USD 150 mn Saudi healthcare fund

Egyptian investment services firm Zilla Capital plans to launch a USD 150 mn investment fund focused on healthcare in Saudi Arabia, Managing Partner Moustafa El Shenety told EnterpriseAM. The planned fund will focus on primary care services and specialized care operators in the Kingdom, El Shenety told us.

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Zilla Capital expects the fund to raise USD 100 mn in its first close, El Shenety added. The firm will target high-net-worth individuals in Saudi Arabia and the wider GCC region, along with family office groups, and has already secured two anchor investors.

The firm already has two Saudi companies in its sights, which El Shenety described as “big and well-established local players.” The two acquisitions could together account for 60% of the USD 150 mn fund, he added. Due diligence is set to start in October, with the firm hoping to conclude the acquisitions in 1H 2026.

The firm also plans to launch a EGP 500 mn fund targeting EGX-listed companies, which will focus on “undervalued companies and those of untapped and unrealized potential,” according to El Shenety.

BwaTech locks in USD 16 mn in a funding round

#1- Homegrown fintech company BwaTech raised USD 16 mn (SAR 60 mn) in a funding round led by Sharaka Financial, announced during the Money 20/20 Riyadh, according to a press release published on Thursday. The capital will support the company’s growth plans and strengthen its market footprint in the Kingdom

About Bwatech: Established in 2020 by Rasha Al Oraini (LinkedIn) and Hesham Al Hekail (LinkedIn), the company runs a unified fintech platform that enables businesses to manage bank-backed commitments, accounts, and open banking services. Its offerings are accessible through web and mobile apps, with API integrations that allow seamless links to corporate systems.

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#2- Peer-to-peer lending platform MoneyMoon has secured USD 2.9 mn (SAR 11 mn) in a pre-series A round led by Core Vision, with backing from family offices and angel investors, it said on LinkedIn on Friday. The funding will be used to enhance MoneyMoon’s technology and expand access to instant short-term financing.

About MoneyMoon: Founded in 2023 by Abdulmajeed Alaskar (LinkedIn), the company operates within the Saudi Central Bank’s regulatory sandbox and delivers shariah-compliant peer-to-peer financing through a Murabaha-based model. The platform specializes in short-term lending with instant approvals and flexible investment options, leveraging machine learning to balance fast financing with investor protection.

#3- B2B fintech Bynow secured USD 1.2 mn from Merak Capital to accelerate product development, roll out new tools to automate receivable and payable, and expand across the Kingdom and regional markets, according to a press release published on Thursday.

About Bynow: Founded by Rami Suliman (LinkedIn) and Ahmed Banafa (LinkedIn) in 2022, the startup provides buy now, pay later (BNPL) solutions tailored to businesses, with a particular focus on SMEs looking to improve cash flow. Bynow aims to cut down on manual processes by building automation tools for intercompany payments.

IN OTHER STARTUP NEWS-

Startup investor Value Makers Studio invested in restaurant SaaS platform Ballurh and mental health platform Arab Therapy under its Bridge 2025 program, it said on LinkedIn on Wednesday.

About the companies: Ballurh supports more than 400 restaurants and has processed over SAR 1 bn in transactions, while Arab Therapy — which started in Berlin — now offers therapy sessions and workplace wellness programs in the Kingdom.

Laheq Island to test luxury market appeal

The international press is keeping tabs on Red Sea’s Laheq Island as a test of the Kingdom’s ability to compete for elite holiday-home demand. Bloomberg reported on the ring-shaped archipelago being developed by PIF-backed Red Sea Global, which is intended to lure foreign investment and establish the Kingdom as a high-end tourism destination, moving faster than some other giga-projects like Neom.

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Demand for Laheq project is solid, the business information service quoted Red Sea Project’s head of development Stephen Cheesebrough, as the Red Sea Global expects SAR 2 bn in sales this year and has already attracted international buyers, including an unnamed UK Premier League footballer. The 400-hectare project will include 528 villas and 221 apartments priced between USD 1.5 mn and USD 40 mn, alongside a golf course, marina, beach club, and two hotels, Cheesebrough said.

BUT- Bloomberg alluded to the ultra luxury property market in Saudi being “still in its infancy” compared to Dubai, with social restrictions such as the alcohol ban posing hurdles to drawing global ultra-wealthy buyers, according to Faisal Durrani, head of Middle East research at Knight Frank.

Dar Al Arkan faces up to 10% tax rate on undeveloped North Riyadh land

REAL ESTATE-

Some 2.8 mn sqm of Dar Al Arkan’s land plots in North Riyadh will face updated White Land Tax regulations, it said in a disclosure to Tadawul. Some 181k sqm of its land face the highest priority 10% tax rate, while about 2.65 mn sqm fall under the 5% medium priority rate.

ICYMI- The Housing Ministry published the final executive regulations for the Kingdom’s White Land Tax Law last month, setting out a system that classifies all urban idle land into five categories based on development priorities.

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BUSINESS-

Saudi + Zambia launch joint business council: The Federation of Saudi Chambers and the Zambia Chamber of Commerce and Industry signed an agreement to establish a Saudi-Zambian joint business council, it said on X on Thursday. The council will bring together entrepreneurs from both countries to share information, explore markets, and develop partnerships through meetings, exhibitions, and trade missions.

Crypto treasuries face test as altcoins challenge BTC’s dominance

Corporates pile into digital assets as BTC vs altcoin split emerges: Institutional treasuries of public companies are moving USD bns into crypto, but a divide is emerging over whether the balance sheet should stick to BTC or diversify into altcoins, Bloomberg reports.

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Who’s buying into what? With USD 116 bn held by 190 listed firms in BTC, the crypto mainstay’s backing outweighs altcoin holdings — however this lead is being challenged to some degree on the back of altcoin’s promising yields, with ETH treasuries reaching USD 16 bn and firms holding USD bns worth of SOL, pointing to shifting preferences.

The case for BTC: BTC backers see it as the only virtual asset that carries real legitimacy as a treasury asset, with its fixed supply of 21 mn tokens and established position in crypto markets providing “stability and simplicity,” Bit Digital CEO Sam Tabar said. BTC is also less susceptible to price volatility than its altcoin counterparts.

In the other corner: Alternative assets like ETH and SOL could offer bigger upside and returns, because of the various tactics like staking, staking, and lending that they offer. However, more exposure to market volatility and price swings make it a “horrible asset for a treasury company,” according to Strive Inc’s CEO Matt Cole.

BTC’s stagnant position on balance sheets will need to be challenged through the issuance of instruments or bonds, some argue, adding that the “moment has passed” for BTC to just be bought and held on balance sheets.

BUT- Skepticism around altcoins remains: CEO of BTC treasury firm Nakamoto David Bailey warned in an X post that failed altcoin projects and “toxic financing” have blurred the purpose of digital asset treasuries. He likened BTC treasuries to banks, arguing that firms with strong balance sheets will grow while weaker ones will be absorbed. Altcoins are also among the most vulnerable to market downturns, which would hit treasury firms hard.

	TASI	10,781	+1.2% (YTD: -10.4%)
	MSCI Tadawul 30	1,399	+1.1% (YTD: -7.3%)
	NomuC	25,291	+0.7% (YTD: -19.7%)
	USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
	Interest rates	5.0% repo	4.5% reverse repo
	EGX30	35,403	+1.2% (YTD: +19.0%)
	ADX	10,128	+0.3% (YTD: +7.5%)
	DFM	6,023	+0.7% (YTD: +16.8%)
	S&P 500	6,664	+0.5% (YTD: +13.3%)
	FTSE 100	9,217	-0.1% (YTD: +12.8%)
	Euro Stoxx 50	5,458	0.0% (YTD: +11.5%)
	Brent crude	USD 66.68	-1.1%
	Natural gas (Nymex)	USD 2.89	-1.7%
	Gold	USD 3,706	+0.6%
	BTC	USD 115,599	-0.1% (YTD: +23.6%)
	Sukuk/bond market index	917.25	0.0% (YTD: +1.7%)
	S&P MENA Bond & Sukuk	150.45	-0.1% (YTD: +7.5%)
Don	VIX (Volatility Index)	15.45	-1.6% (YTD: -11.0%)

THE CLOSING BELL: TADAWUL-

The TASI rose 1.2% on Thursday on turnover of SAR 16.4 bn. The index is down 10.4% YTD.

In the green: MBC Group (+10.0%), EIC (+9.9%) and Almajdiah (+7.6%).

In the red: Saptco (-4.5%), Musharaka Reit (-3.0%) and Alandalus (-2.6%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.7% on Thursday on turnover of SAR 56.1 mn. The index is down 19.7% YTD.

In the green: Munawla (+10.4%), Ladun (+10.0%) and AME (+9.8%).

In the red: Meyar (-12.5%), Alhasoob (-6.5%) and Alshehili Metal (-6.1%).

CORPORATE ACTIONS-

Raydan Food Company secured the Capital Market Authority’s approval to cut its capital to SAR 73.1 mn from SAR 158.1 mn, it said in a statement on Thursday. The move, which would reduce its shares to 7.3 mn from 15.8 mn, remains subject to shareholders’ approval and completion of regulatory procedures.

FM Farhan to lead Saudi delegation at Palestine summit in New York

Foreign Minister Faisal bin Farhan is in New York to lead the Kingdom’s delegation at tomorrow’s United Nations General Assembly session, state news agency SPA reports. Farhan will chair the high-level international conference on the implementation of the two-state solution between Israel and Palestine, where several countries, including France, Canada, Australia, Belgium, the UK, and most recently Portugal are expected to formally recognize the state of Palestine.

Crown Prince Mohammed bin Salman will participate in the conference virtually. The General Assembly also passed a resolution allowing Palestineian Authority’s chief Mahmoud Abbas to submit its statement via a pre-recorded video, after the US denied visas of Palestinian representatives.

ICYMI- A Saudi-French led resolution calling for “tangible, timebound, and irreversible steps” toward a two-state solution passed the UN General Assembly earlier this month, with a vote of 142 in favor, 10 against, and 12 abstentions.

CALENDAR

23 September (Tuesday): Saudi National Day.

24-25 September (Wednesday-Thursday): Schneider Electric’s Innovation Summit, Hilton Residences Riyadh.

28 September (Sunday): A multi-round auction for the exploration rights of 162 new mining sites in the Al-Naqrah and Al-Sukhaybirah Safra belts in Madinah by the Industry and Mineral Resources Ministry.

28-30 September (Sunday-Tuesday): Jeddah Construct, Jeddah Superdome.

29 September-1 October (Monday-Wednesday): Intersec Saudi Arabia, Riyadh International Convention and Exhibition Centre, Riyadh.

29-30 September (Monday-Tuesday): Cultural Investment Conference, King Fahd Cultural Center, Riyadh.

30 September (Tuesday): Deadline for businesses subject to VAT to file their August tax returns.

3Q 2025

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

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.

1-3 October (Wednesday-Friday): FIBO Arabia 2025, Riyadh Front Exhibition & Conference Center.

5 October-8 January 2026: Title deed registration for 3.2k properties in Al Yasmin district, Hail.

6-8 October (Monday-Wednesday): Saudi Lifestyle Week, Riyadh International Convention & Exhibition Center.

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

12 October-15 January 2026: Title deed registration for 31.7k properties in 14 neighborhoods in the Eastern Province.

12 October-15 January 2026: Title deed regiswatch tration for about 157.3k properties in 78 neighborhoods across the Eastern Province.

15 October (Wednesday): Russian-Arab Summit.

16 October (Thursday): Aviation Impact Middle East, Hyatt Regency Riyadh Olaya .

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

19-20 October (Sunday-Monday): Saudi Rail International, Riyadh Front Exhibition and Conference Center.

21 October (Tuesday): The Visual Arts Commission will hold a public talk and a live performance in Paris through Asia NOW under its Art & Ideas program.

21-22 October (Tuesday-Wednesday): Saudi Festival of Creativity (Athar), JAX District, Riyadh.

21-23 October (Tuesday-Thursday): Global Internet of Things Congress 2025 (GIoTC 2025), the Arena Venue, Riyadh.

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

23-25 October (Thursday-Saturday): Zenos Wellness Summit, Bab Samhan Hotel, Riyadh.

24 October-1 November (Friday-Saturday): AlUla Wellness Festival.

26-27 October (Sunday-Monday): The Global Proptech Summit 2025, Mandarin Oriental Al Faisaliah, Riyadh.

27-30 October (Monday-Thursday): Global Health Exhibition, Riyadh Exhibition and Convention Center, Riyadh.

27-30 October (Monday-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

2 November (Sunday): Naming ASICS Innovation Pitch competition’s six finalists.

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

5-9 November (Wednesday-Sunday): Jewellery Salon Expo, Riyadh.

7-8 November (Sunday-Monday): The Visual Arts Commission will conclude its Art & Ideas program with a two-day symposium in Riyadh.

8-9 November (Saturday-Sunday): Del Monte Superleague Supercup, Jeddah.

9 November (Sunday): The deadline for applications for the second batch of the Standard Incentives for the Industrial sector deadline.

10-12 November (Monday-Wednesday): BioFach Saudi Arabia, Riyadh International Convention & Exhibition Center.

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

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

19-22 November (Wednesday-Saturday): PIF Saudi International Golf Championship, Riyadh Gold Club.

20 November (Thursday): Deadline for title deed registration for 14.6k properties across 21 neighborhoods in Qassim.

22 November (Saturday): The Ring IV, ANB arena, Riyadh.

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

23-27 November (Sunday-Thursday): Global Industry Summit by United Nations Industrial Development Organization, 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.

25-26 November (Thursday-Saturday): The Global Sustainability Expo, The Arena Riyadh Venue, Ghirnatah.

25-29 November (Thursday-Monday): General Aviation Airshow 2025 - Sand & Fun, Riyadh.

27 November (Saturday): Deadline for title deed registration for 8.7k properties in Jeddah’s Al Sheraa and Al Amwaj neighborhoods.

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

28-30 November (Friday-Sunday): UIM F1H2O World Championship, Jeddah.

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

30 November-1 December (Sunday-Monday): FII Priority Asia Summit, Tokyo.

DECEMBER

1-3 December (Monday-Wednesday): Industrial Transformation Saudi Arabia, Riyadh International Convention & Exhibition Center.

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

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

7-9 December (Sunday-Tuesday): CoMotion Global 2025, Riyadh.

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

11 December (Thursday): Deadline for title deed registration for 214.2k properties across Riyadh and the Eastern Province.

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.

December: Made in Saudi exhibition, Riyadh International Convention and Exhibition Center, Riyadh

2026

JANUARY

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

13-15 January (Tuesday-Thursday): Future Minerals Forum, King Abdul Aziz International Conference Center, Riyadh.

20 January (Tuesday): SuperReturn Saudi Arabia, Hotel Fairmont, Riyadh.

18-21 January (Sunday-Wednesday): Saudi Hospital Design and Build Expo, Riyadh.

26-27 (Monday-Tuesday): GPRC Summit, Riyadh.

26-28 (Monday-Wednesday): Saudi Franchise Expo (SFE), Riyadh Exhibition and Convention Centre, Riyadh.

26-28 (Monday-Wednesday): Real Estate Future Forum, Four Seasons Hotel, Riyadh.

26-28 (Monday-Wednesday): IFAT Saudi Arabia, Riyadh Front Exhibition & Conference Center, Riyadh,

27-28 (Tuesday-Wednesday): SkyMove Air Cargo MENA, Riyadh.

28 (Wednesday): Data Center Nation Riyadh, Riyadh.

28-30 (Wednesday-Friday): Jeddah International Travel and Tourism Exhibition (JTTX), Jeddah.

FEBRUARY

2-4 (Monday-Wednesday): Saudi Media Forum, Riyadh.

2-4 (Monday-Wednesday): Women Leaders Summit and Awards KSA, Riyadh.

3-4 (Tuesday-Wednesday): RLC Global Forum Annual Meeting, Riyadh.

5-7 February (Thursday-Saturday): LIV Golf 2026 season opener, Riyadh Golf Club, Riyadh.

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

9-14 February (Monday-Saturday): Asian Racing Conference, Crowne Plaza Riyadh RDC Hotel & Convention Centre, Riyadh.

11 (Wednesday) Digital Transformation Summit Saudi Arabia (DTS), Riyadh.

11-14 (Wednesday-Saturday): JeddaDerm, Jeddah.

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

MARCH

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

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

APRIL

6 April (Monday): Procurement and Supply Chain Futures Forum, Al Faisaliah Hotel, Riyadh.

6-7 April (Monday-Tuesday): Real Estate Supply Chain Forum, Al Faisaliah Hotel, Riyadh.

12-15 April (Sunday-Wednesday): Saudi Print & Pack, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Riyadh International Industry Week, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Saudi Plastics & Petrochem, Riyadh International Convention & Exhibition Center.

12-15 April (Sunday-Wednesday): Saudi Smart Logistics, Riyadh International Convention & Exhibition Center.

13-16 April (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.

20-22 April (Monday-Wednesday): The Future Hospitality Summit, Mandarin Oriental Al Faisaliah Al Faisaliah Hotel, Riyadh.

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

21 April (Tuesday): GC Summit Saudi Arabia 2026, Saudi Arabia.

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

MAY

3-5 May (Sunday-Tuesday): Sports Investment Forum (SIF), Riyadh.

OCTOBER

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

Signposted to happen sometime in 2026:

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.
November: The Esports Nations Cup, Riyadh.

Signposted to happen sometime in 2027:

The World Water Forum takes place in Riyadh.
The Ocean Race finishes in Amaala on the Red Sea.
Riyadh-Kudmi transmission line to be completed.

Signposted to happen sometime in 2Q 2027:

The Hail Region Water Networks Project is expected to be completed.

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