PIF-Ma’aden JV Manara Minerals closing in on Zambia mines

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Crown Prince is in Brussels for Gulf-European summit

Good morning, wonderful people. We have another busy issue to send you off into the weekend, leading with signs that Manara Minerals is closing in on acquiring a minority stake in First Quantum’s assets in Zambia, and Tamweel Aloula closed the first issuance in its AT1 capital sukuk program. Plus: The World Bank’s Mena economic update isn’t as bad as it seems on first glance.

HAPPENING TODAY-

Crown Prince Mohammed bin Salman is in Brussels for the inaugural Gulf-European summit, state news agency SPA reports. Bin Salman is joined by other GCC leaders representing Bahrain, Kuwait, Oman, Qatar, and the UAE, with both blocs looking for common ground on trade, investment, renewable energy, security, and visa requirements, Reuters reports. UAE citizens can currently enter the EU without a visa, while passport holders from other GCC states must apply for a five-year visa first.

MEANWHILE- The Saudi Fund for Development is financing three development projects in Serbia worth a total of USD 205 mn, according to a post on X. The projects include a USD 75 mn irrigation infrastructure project spanning 230 km, a USD 65 mn bioscience campus in Belgrade, and a USD 65 mn transmission system to improve electricity coverage.

WEATHER- Riyadh is looking at a high of 37°C, and a low of 24°C today. Over in Madinah, the temperature will peak at 39°C, before dropping to 25°C. Meanwhile, Jeddah will see a high of 40°C, and a low of 29°C.

WORLD BANK MENA ECONOMIC UPDATE

The World Bank’s semi-annual MENA economic outlook was out overnight. The report sounds a distinct note of caution about how war in Gaza (to say nothing of Lebanon and the menace to Red Sea shipping) is an overhang on economic growth. Check out the announcement here and the report here (pdf).

The report plays up the deceleration of growth in 2024, saying that it’s been driven largely by the GCC economies. MENA economies as a whole will grow about 2.2% in 2024 — better than the 1.8% we saw in 2023, but far off the 5.8% pace we saw the year before.

We hope we’re not indulging our inner Pollyanna, but… That take masks the bank’s own forecast for a sharp pickup in growth next year. Check out (numbered) page 11, where the report’s authors are forecasting that growth in 2025 will accelerate to 3.8% across the region.

For the Big Three, the World Bank see:

UAE growth at 4.1% in 2025, up from 3.3% this year;
Saudi growing at a 4.9% clip in 2025, compared to just 1.6% this year;
Egypt’s economy expanding 3.5% in 2025, compared to 2.5% this year.

The worry: “Economic uncertainty in MENA is currently twice the average of other emerging markets and developing economies worldwide,” the report writes, saying its estimate is based on its measure of “the dispersion of views amongst private sector forecasters.”

What to watch for next: The report is out ahead of the kickoff next week of the World Bank and IMF Annual Meetings in Washington, DC. The meetings run Monday, 21 October through Saturday, 26 October, with the main events taking place 22-25 October.

^^ We’ll have another look at the report today and get back to you folks tomorrow if there’s anything else worth knowing.

WATCH THIS SPACE-

#1- Shares of the owner and operator of Burgerizzr will be suspended from trading on Nomu starting on Wednesday, 30 October for a maximum of five days ahead of its transition from Nomu to Tadawul’s main market, according to the transfer document (pdf).

ADVISORS- The company tapped Alkhair Capital as financial advisor on its transition to the main market. The Law Firm of Maha Mohammed Al Morgen is acting as legal counsel on the transition, while RSM is the financial due diligence advisor, and BDO is legal accountant. The company had initially filed for the transition in November 2023, but soon decided to put it on hold after failing to round off some regulatory requirements.

#2- Moonbase to invest USD 15 mn in search funds with an eye on emerging markets: Spain-based search fund investment firm Moonbase Capital has launched its second, USD 15 mn investment vehicle, with some 40% of the funds earmarked for deployment in emerging economies. The UAE and Saudi Arabia are on Moonbase’s list, EnterpriseAM Egypt reports.

Search funds? Search funds are investment outfits that raise capital to acquire well-performing small- or medium-sized businesses (SMEs). They’ll often then bring in an experienced entrepreneur to run the business and grow the company before exiting.

The details: Moonbase’s new fund will aim for 10-15% stakes with an average ticket price of EUR 1.25 mn over the coming 3-4 years. The fund is led by Managing Partners Tamer El Bahay and Tarek El Gammal.

#3- No more regional HQ for BNP Paribas? BNP Paribas doesn’t want to have to choose between Abu Dhabi, Dubai, and Riyadh — so it’s planning to cut staff in Bahrain and “scrap Manama as its Middle East and Africa head office,” Reuters says, citing unnamed sources. All of its offices in our neck of the woods would instead report into Paris if the plan goes ahead.

#3- Saudi and Egyptian private sector players have pledged to make investments worth USD 15 bn in Egypt across renewable energy, industry, real estate, tourism, and technology sectors, Saudi-Egyptian Business Council head Bandar Al Amri told Al Arabiya Business, without naming any of the potential investors. The investments were pending the Promotion and Mutual Protection of Investments agreement was signed on Tuesday in Cairo during Crown Prince and Prime Minister Mohammed bin Salman’s meeting with President Abdel Fattah El Sisi.

#4- Saudi firms are reportedly in negotiations for projects with Algeria’s state-owned oil company Sonatrach to ramp up production at the company’s facilities, Elkhabar quotes National Agency for Hydrocarbon Resources Development President Mourad Beldjehem as saying. No additional details were provided.

DATA POINTS-

#1- Consumer spending via point-of-sale (PoS) transactions in the Kingdom decreased 10.6% w-o-w for the week ending 12 October at SAR 12.3 bn, according to the Saudi Central Bank (Sama)’s report (pdf). Meanwhile, the number of weekly transactions was down 4.6% at 208.5k.

The breakdown: Food and beverages saw the highest spending during the week, despite falling 14.3% w-o-w at SAR 1.91 bn, followed by restaurants and cafes at SAR 1.86 bn, down 4.5%. Education recorded the steepest weekly decline in number of transactions, falling 36.0% w-o-w. Meanwhile, Riyadh had the highest value of PoS transactions at SAR 4.3 bn, followed by Jeddah at SAR 1.7 bn.

#2- The Saudi Export-Import Bank provided USD 1.2 bn in credit facilities to global export houses to help them overcome trade barriers, Mubasher quotes CEO Saad Al Khalab as saying.

FROM THE RUMOR MILL-

Goldman Sachs’ Saudi CEO Khalid Albdah (LinkedIn) is rumored to be stepping down in the coming weeks, Bloomberg and Reuters each reported yesterday, citing unnamed sources with knowledge of the matter. No reason has been disclosed on why Albdah will be parting ways with the bank. Albdah joined the firm from Al Rajhi Capital in 2013 and has headed its Saudi operations since 2015. Albdah also serves as the managing director of Goldman Sachs’ Saudi asset management division.

REMEMBER: Goldman Sachs was the first Wall Street bank to receive a regional headquarters license as part of its drive to expand operations in the Kingdom. The bank has advised on numerous recent major transactions, including Aramco’s USD 12 bn secondary offering.

SPORTS-

#1- The Green Falcons continue to falter in their World Cup qualifiers, after drawing a blank against Bahrain here at home. Our national team is currently level on points with Australia and Bahrain at 5 points each, and currently holds third place in Group C on goal difference.

#2- Inter Milan is coming to Saudi: Inter Milan has become the first international football club to acquire a commercial license to operate in-country from the Investment Ministry, it said in a statement. The Italian club is looking to expand its fan base among local youth, establish training academies, and organize local events among other activities in the Kingdom, the statement said.

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THE BIG STORY ABROAD-

The race for the White House has pushed business news a bit further down the front pages with 18 days to go until voters head to the polls in the United States. Harris raised substantially more than Trump in 3Q and the two are chasing each other’s voters.

INTEREST RATE WATCH- Economists see the European Central Bank delivering another quarter-point rate cut when it meets later today — and Goldman Sachs thinks the US Federal Reserve will deliver consecutive 0.25 bps cuts from November through June 2025.

ON WALL STREET:

The Dow posted yesterday its third record-high close in four sessions ;
The WSJ’s latest survey suggests economists are more upbeat about economic growth in the US of A;

Private equity limited partners are selling their stakes in the secondary market amid a cash crunch;
It’s been a very good 3Q earnings season for Wall Street banks thanks to strong fees from M&A activity and debt issuances

IN TECH- Uber’s super-app ambitions now see it kicking the tires on the acquisition of travel website Expedia. The Financial Times notes that while transaction is in very early stages and could still go bust, Uber chief Dara Khosrowshahi was the CEO of Expedia for a dozen years ending in 2017 and is still on the site’s board of directors, “making it likely that any approach would be friendly.”

In Lebanon: Israel has stepped up its attack with further strikes and is claiming to have killed a Hezbollah commander yesterday.

CIRCLE YOUR CALENDAR-

The Professional Fighters League’s (PFL) Battle of the Giants is coming to Riyadh on Saturday, 19 October. Headlining the card, MMA superstar Francis Ngannou will face PFL heavyweight champion Renan Ferreira for the title of inaugural PFL Super Champion. Meanwhile, women’s featherweight champion Cris Cyborg will square off against Larissa Pachecho for the World Title Fight in the co-main event. Expect fireworks with additional matchups featuring Johnny Eblen vs. Fabian Edwards and A.J. McKee vs. Paul Hughes.

The three-day Seamless Saudi Arabia will take place at the Riyadh Front Center on Tuesday, 22 October. Business leaders and entrepreneurs from around the world will gather to discuss the latest trends shaping the digital commerce and fintech sectors. Notable speakers include representatives from the World Economic Forum, our friends at Cenomi, as well as Al Rajhi Bank, Riyad Bank, and Saudi Awwal Bank, among others.

The two-day Multilateral Industrial Policy Forum will kick off in Riyadh on Wednesday, 23 October. The forum will address global industrial challenges, focusing on topics like industrial policy, clean energy, and advanced manufacturing tech. The forum is organized by The Industry and Mineral Resources Ministry in partnership with UNIDO. The Kingdom will also host the UNIDO General Conference in 2025.

The Human Resources and Manpower Expo kicks off on Sunday, 27 October at the Riyadh International Exhibition and Convention Center, expecting over 1k exhibitors and 22k visitors.

The five-day Jeddah International Motor Show revs up on Tuesday, 29 October, running through Saturday, 2 November. The event will showcase motorcycle and drift shows, sim and kart racing, a lineup of custom-tuned cars, and more.

WWE Raw is coming to RIyadh for the first time ever on 2-3 November, kicking off on the back of the WWE Crown Jewel event the day prior, Turki Alalshikh said in a post on X. You can book your Raw tickets here, and your Crown Jewel tickets here.

Manara Minerals “in advanced talks” for USD 1.5-2 bn stake in Zambia mines

PIF-backed Manara Minerals is closing in on a USD 1.5-2 bn acquisition of a minority stake in First Quantum Minerals’ Zambian copper and nickel assets, Reuters reports, citing three sources it said are familiar with the matter. Manara — a JV between the Public Investment Fund (PIF) and mining giant Ma’aden — is reportedly looking to acquire a 15-20% stake in the mines.

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

REFRESHER- Manara Minerals has been eyeing a stake in First Quantum’s Zambian assets since earlier this year, with an eye on copper mines Sentinel and Kansanshi. First Quantum, meanwhile, disclosed earlier this year that it was in discussions with potential investors to sell stakes in its Zambian operations while also looking to offload other assets to offset debts and compensate for the shutdown of other operations.

Manara emerged as a top contender for the sale due to the fact that its plans to acquire a minority stake fit well with First Quantum’s plan to retain majority ownership in its highly profitable Zambian mines.

Manara has been expanding its mining portfolio: Manara Minerals completed the acquisition of a minority stake in Brazilian miner Vale Base Metals back in May. The transaction is worth an estimated USD 2.6 bn, based on a USD 26 bn enterprise value VBM had previously disclosed. The company also submitted an offer in August to acquire a 15% stake in Barrick Gold’s Reko Diq copper and gold mining project in Pakistan.

Tamweel Aloula closes undisclosed sukuk issuance as part of SAR SAR 500 mn AT1 sukuk issuance program

Tamweel Aloula closed its first additional tier 1 (AT1) capital sukuk issuance as part of a recently-launched program, according to a press release by the transaction’s advisor impact46. The funds will go towards supporting the company’s regulatory capital requirements, according to the press release.

What we know: The issuance was completed via private placement, with the sukuk set to be listed on the Saudi Exchange after receiving approval from regulatory authorities. No details were provided on the exact size of the issuance.

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

Background: Tamweel announced a SAR 500 mn AT1 sukuk issuance program last month, with initial plans to take the first issuance to market before the end of 3Q 2024. The sukuk are on offer to eligible investors in the Kingdom. The program is a first by a non-banking financial institution in Saudi Arabia, Tamweel said.

AT1 bonds? The debt instruments act as a capital cushion for banks if their capital levels fall below a certain threshold. They are seen as the riskiest debt instruments that can be issued by lenders and therefore hold a higher coupon.

IN OTHER DEBT NEWS-

Nomu-listed trade and development company Waja is gearing up for a SAR 70 mn sukuk issuance through a private placement under its SAR-denominated Sukuk Issuance Program, according to a disclosure to Tadawul. Waja has applied for permission from financial authorities and plans to funnel the proceeds towards supporting company supplies, the disclosure said.

First Avenue shares jump 30% on Nomu debut

First Avenue Real Estate Development’s shares climbed 30% on their first day of trading on Tadawul’s parallel market Nomu yesterday, closing at SAR 7.8 apiece, according to market data. The shares hit the maximum of the ±30% band within which they are allowed to trade on the first three days during intraday trading. Starting from the fourth day of trading on the Tadawul, the band will be capped at no more than 10% up or down before circuit breakers kick in.

REFRESHER- The Riyadh-based real estate developer took to market 8.7% stake at SAR 6 apiece. First Avenue priced its IPO at the top end of the range after its offering was 7.4x oversubscribed. The pricing means the company raised SAR 98.5 mn in proceeds from the sale and gave it a market cap of SAR 1.1 bn at listing.

ADVISORS- Al Khair Capital acted as both financial advisor and subscription manager, while Khalijoon Law Firm provided counsel. RSM United Accountants audited the company's financials. Meanwhile Al Rajhi Capital, AlBilad Capital, Riyad Capital, SNB Capital, and other institutions acted as receiving agents.

IN OTHER IPO NEWS-

The institutional subscription period for Naqawa for Information Technology’s (Purity Tech) Nomu IPO kicked off yesterday, and runs until next Tuesday, 22 October, according to Argaam. Investors are allowed to subscribe to a minimum of 100 shares and a maximum of 749.9k shares.

REMEMBER- Purity Tech is taking a 20% stake to market, at a price range of SAR 6.0-8.0 apiece. The stake is equivalent to 3 mn ordinary shares. Purity Tech lined up Capital Market Authority approval for the move back in June.

What’s next: The final allocation is slated for Sunday, 27 October, with excess funds set to be refunded by Tuesday, 29 October.

ADVISORS- Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager. Receiving agents include Al Rajhi Capital, Albilad Capital, Riyad Capital, SNB Capital, Alistithmar Capital, Alinma Investment, AlJazira Capital, ANB Capital, SAB Invest, Derayah Financial, BSF Capital, and Alkhabeer Capital.

Saudi Gold Refinery names new CEO

Saudi Gold Refinery appointed Jonathan D. Cordero (Linkedin) as its new CEO, according to a press release. Cordero was head of corporate development at Eurasian Resources Group for over nine years, and he is also a co-founder at US-based tech player Stealth, and Munich-based VC fund Caesar Ventures.

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Gigaprojects look at more prudent budget allocations

Please spend responsibly: Gigaprojects in the Kingdom are now shifting to a more “prudent” approach to spending as the government “tightens its belt” on the spending frenzy, the Financial Times says in its Big Read. The belt-tightening — which isn’t “even remotely close to an austerity program” — requires that these gigaprojects and those who run them maintain “no margin of error” on their deliverables and KPIs, says Jerry Inzerillo, CEO of the USD 65 bn Diriyah Gate gigaproject. “We have to spend the kingdom’s money responsibly,” Inzerillo said.

REMEMBER- A government committee led by Crown Prince and Prime Minister Mohammed bin Salman is reportedly wrapping up a review of gigaprojects with a view to trimming spending at some. Project timelines are being adjusted to avoid straining the economy.

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

Zatca, Modon receive awards for customer service + employee empowerment

The Zakat, Tax, and Customs Authority (Zatca) earned the Best Customer Experience and Operational Excellence award at the Customer Experience Global Awards in London, according to a post on X. The award ceremony was organized by the British Institute for Human Resources Development.

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The Saudi Authority for Industrial Cities and Technology Zones (Modon) received five regional awards in human resources development and women's empowerment at the 2024 Human Resources Summit in Abu Dhabi, according to state news agency SPA.

Preferred employer;
Best leadership development program;
First place in promoting innovation in job engagement among GCC countries;
Second place for Innovation and excellence in employee experience;
Third place for supporting and empowering women.

** Our Thursday Kudos section recognizes companies that are doing well — or doing well by others. Have something you want us to consider? Email ksa@enterprise.news.

Egyptian mobility solutions provider Swvl launches regional HQ in Riyadh

STARTUP WATCH-

Egypt-born mass transit app Swvl officially launched its regional HQ in Riyadh, in a bid to tap government contracts, according to a press release. “By establishing this RHQ in Riyadh, Swvl intends to leverage the program’s [Saudi Arabia's Regional Headquarters Program] incentives to support its long-term expansion plans and fuel Swvl’s growth strategy across the region.”

IN CONTEXT: SWVL CEO and founder Mostafa Kandil mentioned the move back in May. Swvl secured USD 2.6 mn in contracts in the Kingdom in 3Q, expanding its services in Riyadh, Dammam, Madina, and Jubail.

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

TELECOM-

Stc has tapped its tech subsidiary solutions for a SAR 309.7 mn internet and communications network upgrades contract, according to a disclosure to Tadawul. The two-year contract will see solutions ramp up the capacity of the telecom giant’s internal internet network to support 5G services, switch out old devices, supply, install and test new equipment, programs and tools, and establish internet infrastructure at new data centers among other tasks. Stc owns 79% of solutions.

MARITIME-

Mawani adds new shipping service to Jeddah Islamic Port: Saudi Ports Authority (Mawani) has added a new shipping service, dubbed MER1, to Jeddah Islamic Port in partnership with C Star Line and UGL, it said in a statement. The new service has a capacity of some 1.6k standard containers and connects Jeddah with Nhava Sheva and Mundra in India, Jebel Ali in the UAE, Djibouti, and Aden in Yemen. The frequency of the newly launched route was not disclosed in the statement.

Amid rising interest rates, Middle East sustainable bond issuance drop in 9M 2024

Sustainable bond issuance across the Middle East declined 18% y-o-y to USD 16.7 bn in 9M 2024, according to an S&P Global report (pdf). The market’s cooling reflects a normalization following COP28’s momentum in late 2023, while other factors such as inflation, interest rates, and economic growth all impact demand for the notes. Meanwhile, funding and regulation can also be affected by “transparency and disclosure within ESG reporting [which] are in the early stages of development.”

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

The Middle East’s sustainable bond issuances accounted for 2.2% of global sustainable bond issuance in 9M 2024, down from 2.6% during the same period in 2023.

Although issuances have slowed, sustainable bonds account for a larger share of the region’s bond market than the global average. In the Middle East, sustainable bond issuances account for 15-20% of total bond issuances (excluding sovereigns and private placements), coming in above the 12-14% global average.

Sustainable sukuk issuances accounted for 35-40% of all issuances in the region so far this year, up from 25-30% in 2023. Total sustainable sukuk issuances in the region remained basically unchanged at USD 6.1 bn in 9M 2024, in the face of a global 11% y-o-y decline to USD 7.1 bn. Saudi Arabia dethroned the UAE as the largest issuer of this type of issuances in 9M this year, compared to the same period in 2023.

Saudi Arabia and the UAE are leading the market, accounting for 60% of sustainable bond issuances in the region, with Qatar also making strides this year, including recording the region’s largest issuance in 2024 so far with the sale of a USD 1.5 bn sovereign green bond sale in 2Q 2024.

Financial institutions are the most prevalent issuer in the region, while issuances by state-owned corporates are down 45% in 9M 2024 on an annual basis. “In the UAE, the financial sector has pledged to mobilize AED 1 tn (USD 272 bn) in sustainable finance by 2030,” the report says.

The implementation of net-zero policies could drive more issuances: Stakeholders will need to move swiftly towards net-zero policies, along with a stronger focus on sustainability strategies, as well as new regulations for sustainable bond issuances to gain better traction.

The composition of sustainable bond issuances is changing: Whereas sustainable bond issuances in 2023 were primarily green bonds, this year saw growth in “sustainability issuances (including funding social projects),” the report says. The shift is largely driven by financial institutions, which are incorporating social elements into their projects to align with broader sector objectives. Common social initiatives include improving access to essential services, supporting affordable housing, and creating jobs through investments in SMEs.

Globally, it’s a bit of a different picture: Although green bonds continued to be a fixture of the region’s debt market “given the exposure to hydrocarbons,” they account for a far smaller share of sustainable bond issuances this year than the global average. On a global scale, green bonds still make up around 60% of sustainable bonds.

MARKETS THIS MORNING-

The Shanghai Composite, Hang Seng, and ASX 200 are all up in early trading this morning, boosted by yet another record close for the Dow yesterday. Only the Nikkei (-0.5%) is bucking the trend.

Futures suggest major Wall Street and European benchmarks could see a bit of selling pressure at the opening bell later today.

TASI	12,039	+0.3% (YTD: +0.6%)
MSCI Tadawul 30	1,507	+0.2% (YTD: -2.8%)
NomuC	25,979	+0.2% (YTD: +5.9%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.5% repo	5.0% reverse repo
EGX30	30,545	-0.1% (YTD: +22.7%)
ADX	9,306	+0.2% (YTD: -2.8%)
DFM	4,485	+0.4% (YTD: +10.5%)
S&P 500	5,821	+0.1% (YTD: +21.8%)
FTSE 100	8,329	+1.0% (YTD: +7.7%)
Euro Stoxx 50	4,909	-0.8% (YTD: +8.6%)
Brent crude	USD 74.48	+0.3%
Natural gas (Nymex)	USD 2.37	-5.2%
Gold	USD 2,691	+0.5%
BTC	USD 67,552	+1.6% (YTD: +59.9%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.3% yesterday on turnover of SAR 7.3 bn. The index is up 0.6% YTD.

In the green: EPCCO (+10.0%), A. Othaim Market (+8.5%) and East Pipes (+6.0%).

In the red: Al Baha (-9.4%), Alamar (-2.6%) and Almarai (-2.6%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.2% yesterday on turnover of SAR 78.8 mn. The index is up 5.9% YTD.

In the green: First Avenue (+30.0%), Burgerizzr (+15.3%) and NGDC (+10.4%).

In the red: Ladun (-6.4%), Al Rasheed Industrial (-6.1%) and Al Muneef (-4.6%)

CORPORATE ACTIONS-

Telecom giant STC’s general assembly will vote on a new three-year dividend policy on Wednesday, 6 November, according to a statement (pdf). The policy, effective from 4Q 2024 to 3Q 2027, would guarantee a fixed quarterly dividend of SAR 0.55 per share, up from its current SAR 0.4 per share, according to historical data (pdf). Additional dividends may be considered based on the company’s financial position, strategic investments, and capital needs, subject to board and shareholder approval. The policy may change if there are significant shifts in strategy, regulatory requirements, or banking commitments.

CALENDAR

OCTOBER

16-19 October (Wednesday-Saturday): Accounting Technologies Conference, Hilton, Riyadh.

19 October (Saturday): Battle of the Giants, Mayadeen Hall, Riyadh.

21-22 October (Monday-Tuesday): Smart Ports & Logistics Transformation Summit, Riyadh.

21-22 October (Monday-Tuesday): Aussie Expo, King Abdullah Financial District Conference Center, Riyadh.

21-23 October (Monday-Wednesday): Global Health Exhibition 2024, Riyadh.

22-24 October (Tuesday-Thursday): Seamless Saudi Arabia 2024, Riyadh Front Center, Riyadh.

23-24 October (Wednesday-Thursday): UNIDO’s Multilateral Industrial Policy Forum (MIPF), Riyadh.

26 October (Saturday): Donor Conference to Support Refugees in Sahel and Lake Chad Regions, TBD.

27-28 (Sunday-Monday): The Global PropTech Summit, Movenpick Hotels & Resorts, Riyadh.

27-30 (Sunday-Wednesday): Human Resources and Manpower Expo, Riyadh International Exhibition and Convention Center, Riyadh.

29-31 October (Tuesday-Thursday): Future Investment Initiative Conference, Riyadh.

29 October - 2 November (Tuesday-Saturday): Jeddah International Motor Show, Superdome, Jeddah.

30 October - 3 November (Wednesday-Sunday): Hia Hub 4.0, Riyadh.

31 October (Thursday): No-visa travel for Saudis to Montenegro on charter flights expires.

NOVEMBER

2 November (Saturday): WWE Crown Jewel, Riyadh.

3 November (Sunday): WWE Raw, Riyadh.

2-9 November (Saturday- Saturday): WTA Finals, Riyadh.

3-23 November (Sunday-Sunday): NEOM Beach Games, Neom.

4-7 November (Monday-Thursday): Saudi Build, Riyadh.

5-9 November (Tuesday-Saturday): Biban24 Forum, The Front Exhibition and Conference Center, Riyadh.

11-14 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Center.

11-22 November (Monday-Friday): The Diplomatic Conference to Conclude and Adopt a Design Law Treaty, Riyadh.

26-28 November (Tuesday-Thursday): Saudi Electricity Expo, Riyadh.

11-12 November (Monday-Tuesday): World Advanced Manufacturing Logistics Summit & Expo, Riyadh.

11-12 November (Monday-Tuesday): Saudi Airport Exhibition, Riyadh.

11-12 November (Monday-Tuesday): Expenditure Efficiency Forum, The Hilton, Riyadh.

11-13 November (Monday-Wednesday): Saudi Intermobility Expo 2024, Jeddah.

11-14 November (Monday-Thursday): Cityscape Global, Riyadh.

16 November (Saturday): Latino Night at Riyadh Season, Riyadh.

18-20 November (Monday-Wednesday): The Heavy Equipment and Truck Show, Dammam.

19-20 November (Tuesday-Wednesday): The Women's Economic Forum 2024, Dammam.

19-21 November (Tuesday-Thursday): Saudi International Maritime Forum, Dammam.

23 November (Saturday): Red Sea 600, Jeddah Yacht Club and Marina.

25-27 November (Monday-Wednesday): World Investment Conference, Riyadh.

26-28 November (Tuesday-Thursday): Future Power Expo, Riyadh.

28 November-14 December (Thursday-Saturday): Noor Riyadh, Riyadh.

29 November-2 December 2024 (Sunday-Wednesday): World Sailing Youth Match Racing World Championship, Jeddah Yacht Club and Marina.

DECEMBER

1 December (Sunday): Opec+ to meet.

2-3 December (Monday-Tuesday) Wings of Change Middle East, Riyadh.

3-5 December (Tuesday-Thursday): The International Business Exchange – IBEX EVENTS, Riyadh.

4-5 December (Wednesday-Thursday): Zakat, Tax and Customs Conference, Riyadh.

11 December (Wednesday): Billboard Arabia Music Awards (BBAMAs), King Abdullah Financial District, Riyadh.

2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification, Riyadh.

5-8 December (Thursday-Sunday): World Sailing Women’s Match Racing World Championship, Jeddah Yacht Club and Marina.

11 December (Wednesday): FIFA Congress, which will decide the hosting countries for the FIFA World Cup 2030 and 2034

15-19 December (Sunday-Thursday): Internet Governance Forum, King Abdulaziz International Conference Center, Riyadh.

23-26 December (Monday-Thursday): Aqarat Expo, Riyadh.

Signposted to happen sometime in 2024:

The AFC Champions League Elite

2025

JANUARY 2025

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

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

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

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

FEBRUARY 2025

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

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

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

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

22 February (Saturday): Founding Day.

MARCH 2025

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

MAY 2025

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

JUNE 2025

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

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

SEPTEMBER 2025

23 September (Tuesday): Saudi National Day.

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.

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