PIF-owned SRC acquires SAR 1 bn mortgage portfolio from Bidaya

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Nice One’s two-day retail subscription window opens tomorrow

Good morning, wonderful people. While we can’t quite say we’re entering the end-of-year slowdown — as we have a handful of year-end reports for you to sink your teeth into — the news cycle here at home is beginning to catch its breath as we slide into the final days of 2024.

IN TOMORROW’S ISSUE- The IMF released a comprehensive report (pdf) on the economic outlook and policy challenges for GCC countries. The report dives into the region’s fiscal and monetary policies, energy strategies, and banking systems, and sheds light on economic diversification efforts and key reforms that could shape the region’s future. You can find an in-depth breakdown of what the IMF had to say about the region — and Saudi Arabia specifically — in tomorrow’s issue.

HAPPENING TODAY-

#1- IPO WATCH- The retail subscription window for Almoosa Health's IPO opens today, where the Al Ahsa-based hospital operator will offer 20% of the 30% stake on offer for two days.

REMEMBER- Almoosa Health priced its Tadawul IPO at SAR 127 apiece — the top of the range it was guiding on — after its institutional offering was 103x oversubscribed. The final pricing will see the firm locking in SAR 1.7 bn in proceeds, giving it a market cap of SAR 5.6 bn at listing. Individual investors will be able to book between 10k-250k shares each, with the final allocation of shares set to be announced no later than Sunday, 29 December.

#2- The Madinah Investment Forum wraps up today, with 200 potential investments worth over SAR 57 bn up for grabs, state news agency SPA reports. Featuring 18 speakers, over 40 entities, and four dialogue sessions, the event highlights Medina’s development projects and promising sectors including hospitality, logistics, agriculture, and real estate.

☀️WEATHER- It’s still sunny and crisp in Riyadh, with a high of 18°C and a low of 6°C. Meanwhile, Jeddah continues to get warmer temperatures at 29°C, tapering off to 24°C. Over in windy Madinah, expect a high of 24°C and a low of 12°C.

HAPPENING TOMORROW-

IPO WATCH- Nice One’s two-day retail subscription window opens tomorrow, where individual investors will be eligible for 10% of the cosmetic company’s main market IPO. They will be able to book a maximum of 250k shares, and a minimum of 10 shares each at SAR 35 apiece.

REFRESHER- The online beauty retailer is taking a 31.5% stake to Tadawul. Nice One priced its IPO at the top of the range after its institutional offering — which wrapped up last week — was 139.4x covered. The final pricing will see it raise SAR 1.2 bn in proceeds, and will give it a market cap of SAR 4 bn at listing.

PSAs-

Industrial establishments must review and update their registered customs items on the Sina'ei platform before 31 January, after the Industry and Mineral Resources Ministry upgraded customs codes to 12 digits from 10 previously, state news agency SPA reports. The update is meant to standardize the customs coding system and improve data alignment with authorities.

FACT CHECK- Health ins. will not apply to all government sector employees, Al Madina reports, debunking claims on social media. The misinterpreted announcement rather pertains to an agreement by the Expenditure and Projects Efficiency Authority, which allows specific government agencies to request health ins. services through the Etimad platform, according to Al Madina’s sources.

The agreement’s targeted groups include ministry representatives, deputy ministers hired on competency contracts, employees in government institutions applying the ins. system, and university presidents hired on competency contracts.

WATCH THIS SPACE-

#1- The Saudi-Yemeni Business Council announced the launch of three companies during its meeting in Makkah, focusing on renewable energy, telecommunications, and trade promotion, Okaz reports. These include a new energy company with an initial capital of USD 100 mn to generate solar energy for Yemen, a telecommunications company operating Starlink satellites, and a company organizing exhibitions to showcase Saudi products and support Yemen’s reconstruction.

#2- Budget carrier Flynas will launch bi-weekly direct flights from Dammam’s King Fahad International Airport to Red Sea International Airport, starting Saturday, 28 December, according to TradeArabia.

#3- The legal system is getting a facelift: The Justice Ministry and the Saudi Bar Association will collaborate to reform the Kingdom’s legal system in a bid to empower lawyers, and facilitate access to legal services, the Saudi Gazette reports, citing statements from Saudi Bar Association officials. Key initiatives include simplifying processes, including creating an automated process for lawyer license renewals with applications processed within 15 days.

#4- The Real Estate General Authority issued off-plan sales licenses for residential real estate projects in Riyadh, according to separate statements posted on X (here, here, and here).

DATA POINTS-

#1- Derayah Financial saw its assets under management grow 45% by the end of 1H 2024 to SAR 15.1 bn, compared to the end of 2023, the company’s CEO Mohammed AlShammasi told Argaam. Factoring in assets under custody, value rose 22% during the same period to SAR 40 bn.

#2- Asset manager Areeb Capital’s assets under management rose 740% y-o-y to SAR 19.69 bn by the end of 3Q 2024, the company said in a press release.

SPORTS-

FROM THE RUMOR MILL- Marcus Rashford may leave Manchester United for Saudi: As the January transfer window approaches, Saudi Pro League clubs Al Ahli, Al Ittihad, and Al Qadsiah have reportedly shown interest in English forward Marcus Rashford, according to TalkSport. Al Ahli leads the race but may need to offload Roberto Firmino to meet registration rules.

? Brazil’s João Fonseca defeated the US’ Learner Tien in a four-set championship match to become the Next Generation ATP Finals champion, according to ATP Tour’s website. This wraps up Saudi Arabia's first pro tennis event. Fonseca came out on top with a final match score of 2-4, 4-3(8), 4-0, 4-2.

ALSO- Rafael Nadal arrived in Jeddah on Friday to participate in events surrounding the tournament, including meeting Saudi Davis Cup players and connecting with rising tennis players.

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THE BIG STORY ABROAD-

It appears that the Christmas news slowdown has come early this year, with things pretty quiet in the western press this morning — among the few headlines worth noting:

US president-elect Donald Trump is once again making headlines this time for threatening to reassert US control over the Panama Canal, demanding Panama reduces the canal fees. During a speech late last night, Trump vowed he “would not let the canal fall in the wrong hands.”

Panamanian President Jose Raul Mulino rejected the comments, defending Panama’s sovereignty and the fairness of the rates. The canal has been under Panamanian control since 1999 after the US gave up control, with international law providing no basis for the US to reclaim its control over the canal. (Reuters | Wall Street Journal | AP | BBC)

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- The three-day Future Hospitality Forum opens its doors 11 May at the Mandarin Oriental Al Faisaliah, Riyadh.

#4- The Money 20/20 fintech conference will run from 15-17 September. As a global hub for payments, banking, and financial services innovation, Money 20/20 promises to bring together industry leaders to shape the future of fintech.

#5- Orgatec Workspace will make its debut at the Riyadh Front Exhibition & Conference Center between 16-18 September, according to a joint press release. The trade fair — which will focus office furniture and design — aims to connect manufacturers, suppliers, and distributors. The event is the brainchild of a collaboration between German-born international trade fair organiser Koelnmesse (organizer of Orgatec) and the Daily Mail’s exhibitions and publishing unit Dmg Events (organizer of Workspace).

SRC acquires SAR 1 bn mortgage portfolio from Bidaya

PIF-owned Saudi Real Estate Refinance Company (SRC) signed an agreement to acquire a SAR 1 bn mortgage portfolio from Bidaya Finance, marking the largest transaction of its kind among mortgage companies, according to a press release.

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

The pitch: SRC’s CEO emphasized the agreement’s role in improving liquidity and stability, while Bidaya’s CEO highlighted its contribution to innovative financing and the securities market. The agreement aims to boost homeownership, strengthen the real estate finance market, and expand refinancing opportunities.

What we don’t know: No details were made available on the terms and timeline for the portfolio transfer. The structure of the portfolio and its target market also remain unclear.

REMEMBER: SRC inked an MoU with Saudi Mortgage Guarantees Services Company (Damanat) in October that would see the latter provide coverage for the mortgage portfolios owned by the fund. The company also plans to issue its first USD-denominated bond this year, following SAR 20 bn in bonds sold over the past three years.

KSA surpasses UAE as GCC’s top fixed-income issuer this year

The Kingdom was the biggest issuer of fixed-income instruments in the GCC this year, raising a total of USD 84 bn, according to a report (pdf) by Kuwait-based financial firm Kamco Invest. This marks a 45% y-o-y increase in Saudi’s fixed-income issuances and surpasses the UAE (USD 61 bn) and Qatar (USD 24.1 bn).

The GCC saw total fixed-income issuances climb 57.3% y-o-y to a record-high USD 182.7 bn in 2024. This growth was driven by a surge in corporate issuances, which rose 48.5% y-o-y to USD 105.4 bn in 2024.

Also leading in bond maturities: The Kingdom is also set to account for the lion’s share of bond maturities in the GCC from 2025 to 2029, with USD 168 bn in maturities, followed by the UAE at USD 153.2 bn, and Qatar USD 79.5 bn. The majority of maturities here, totaling USD 110.2 bn, are tied to government-issued bonds and sukuk.

The Kingdom holds the highest oil sector corporate maturities in the GCC totaling USD 12.8 bn by 2029. The Kingdom also holds USD 3.8 bn in real estate maturities by 2029 — second only to the UAE (USD 7.2 bn).

GCC corporate maturities are projected at USD 235 bn over the next five years (2025–2029), according to Kamco.

That’s slightly below GCC sovereign maturities, which are projected at USD 232.3 bn over the same period. Bond and sukuk maturities are expected to remain elevated throughout this period before gradually declining in the subsequent years, Kamco says, citing Bloomberg data.

What the pundits are saying: Shifting US bond yields and evolving global conditions signal challenges for fixed-income markets, the report reads. However, the GCC’s strong fiscal standing, low external borrowing, and sovereign wealth funds position it ahead of debt-laden emerging markets, ensuring resilience amid uncertainty, the report said.

Sports contributed USD 6.9 bn to Saudi Arabia’s GDP last year

Saudi Arabia’s sports sector contributed USD 6.9 bn to the Kingdom’s GDP in 2023 and is expected to add USD 16.5 bn annually (1.5% of GDP) by 2030, according to a report (pdf) by Surj Sports Investment. By comparison, the sector contributed USD 2.4 bn to GDP in 2016, the report says.

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

The value of the local sports market grew 12.5% y-o-y to USD 7.2 bn in 2023, with forecasts that the market will hit a value of between USD 8-22.4 bn between now and 2030. From 2018 to 2021, sports-related careers grew by 114%, according to the report.

The Kingdom invested USD 2 bn annually into the sports sector, expecting an economic impact of USD 22 bn and over 100k jobs within the next decade. In 2023, Saudi Arabia allocated USD 670 mn towards privatization and USD 320 mn in private sector sponsorships. Saudi Pro League clubs alone spent USD 957 mn on transfers over the same period, ranking Saudi Arabia second globally in net transfer spending behind the Premier League.

And it paid off: “The monumental vote to award Saudi Arabia the hosting rights for the 2034 FIFA World Cup marks the culmination of nearly a decade of unrivaled sporting growth. Since 2019, Saudi Arabia has hosted more than 100 elite international events across 40 sports, firmly establishing itself as a leading destination for world-class competition, talent, and innovation,” CEO of SURJ Sports Investment Danny Townsend said.

Registered women athletes in Saudi Arabia rose 52% y-o-y to total 2k in 2023, while women’s participation in sports is up by 149% since 2015. Women now represent 45% of Neighbourhood Club members, which total 43k. In football, over 70k girls participated in the Saudi Schools League, and the number of registered women players increased by 86% since 2021 to exceed 1.1k. The SAFF Women’s Premier League features 200 players, including 15 international signings, with 90 matches scheduled for the 2024/25 season

Local multi-group sports clubs totaled 126 in 2024, compared to nine in 2019. Meanwhile, the number of sports federations has tripled since 2015, reaching 98 in 2024. The kingdom now has 177 tennis clubs, up 146% since 2019, and more than 13.5k participants in the Tennis for All program. Padel courts grew to 950 in 2023, with over 100k grassroots players. Padel also has the highest women’s participation rate among sports, with some clubs reporting up to 50% women participation.

On the virtual side: The e-sports sector is projected to contribute USD 13.3 bn to GDP and create 39k jobs by 2030. The sector saw USD 38 bn poured in by the PIF’s Savvy Games Group with acquisitions including the USD 4.9 bn purchase of game developer Scopely and a USD 1.5 bn buyout of ESL Faceit Group.

KSA turns to digital stadiums for sports transformation

PwC rolled out a playbook for Saudi Arabia to revamp its sports sector, proposing the digitalization of stadiums, the business consulting firm said in a recent report.

The report recommends tapping integrated advanced technologies like AI, IoT and drones to set up these smart stadiums, pointing to the economic benefit of Qatar’s 2022 FIFA World Cup, which contributed to an 8% rise in Doha's real GDP in 4Q 2022.

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

Digital stadiums use AI, IoT, augmented reality features, and drones to boost fan engagement, and facilitate crowd management on the ground. They can also enable personalized ad placement which channels personal data to unlock new revenue streams, boost sponsor returns and stimulate spectator spending.

Big expectations: The global market for digital stadiums market is projected to grow at an annual rate of 20.6%, reaching USD 191.7 bn by 2037, the report said. The growth will be supported by growing demand for immersive sports experiences and the commercial appeal of operational efficiency, according to the report.

Fans worldwide are welcoming the digital era: The timing also coincides with a global surge in fan expectations for digitally enhanced sports experiences, PwC suggests, citing data from an Intel survey. 77% of participants said they would spend more on tickets to a digital stadium, while 88% believed technology plays a positive role in their experience.

Key recommendations include standardizing protocols to define digital stadiums, setting clear standards for integration, and personalizing fan experiences through interactive apps and multilingual support. Investing in real-time monitoring, cloud-based systems, and reliable backup solutions will boost efficiency, enhance security, and future-proof operations, the report said.

IN CONTEXT- The pivot towards digital stadiums is especially relevant as the Kingdom prepares to host marquee events like the 2027 AFC Asian Cup, the 2029 Asian Winter Games, and the 2034 FIFA World Cup, among others in the pipeline, in a bid to position itself as an international sports hub and lock in FDI.

BUT- Going digital has its downsides: Data privacy concerns demand robust cybersecurity measures, while digital stadiums might alienate fans who prefer traditional, in-person engagement experiences. Balancing innovation with inclusivity will be key to ensuring widespread adoption, PwC recommended.

Saudi-born suspect in Magdeburg incident charged with murder

Leading mentions of Saudi in the foreign press this morning: Saudi-born doctor Taleb Al Abdulmohsen is now facing multiple charges of murder and attempted murder for the car-ramming attack in Magdeburg, Germany, Reuters reports. German authorities arrested Al Abdulmohsen after he drove through the crowds at a Christmas market, killing five people and injuring 200.

The Kingdom had reportedly warned German authorities about his extremist posts on social media well before the attack occurred, Reuters reports, citing a Saudi source and a German security source.

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

Aramco taps Ayesa for Khobar stadium project

CONSTRUCTION-

Aramco taps Spain-based tech and engineering company Ayesa as project management consultant for the Aramco Stadium in Al Khobar, according to a press release. The 800k sqm stadium, set to accommodate 47k spectators upon its completion in 2026, will serve as a venue for the 2027 Asian Football Confederation Cup.

Construction began in September, led by Saudi-based Al Bawani and Belgian contractor Besix. The project is developed by PIF-owned Roshn Group in partnership with Aramco. Ayesa’s portfolio includes managing Real Madrid’s Santiago Bernabéu Stadium.

REMEMBER- Saudi is looking to host a handful of international sporting events in the next decade, with plans to build out sports infrastructure to bolster its bidding position. The Kingdom was officially awarded the right to host the 2034 World Cup, after releasing its bid book in August, highlighting 15 stadiums across five cities. The Kingdom is also exploring the possibility of bidding to host the Olympic games.

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

TRANSPORTATION-

The public bus service landed in Jazan’s Farasan Island as part of the Transport General Authority’s plan to roll out the service across the province, the authority said in a post on X. The Jazan Bus project aims to deploy the public transit service across the province’s main cities, including Jazan, Sabya, and Aburish. The network is set to include 47 buses, nine routes, and 84 stops. The service launched in Jizan city earlier this year.

M&A WATCH-

Alhasoob ends M&A talks with Alkhorayef Group: Alhasoob Trading has terminated its non-binding MoU with Alkhorayef Group for the proposed acquisition of Alkhorayef Printing Solutions without obligations on either party, according to a filing to Tadawul. The agreement — which was inked in December 2023 and extended until December of this year — would’ve seen Alhasoob acquire Alkhorayef Printing by issuing shares to its parent company.

FINANCIAL SERVICES-

Amana Ins. gets the go-ahead for contract ins. product: Amana Cooperative Ins. received the green light from the Ins. Authority to offer a contract ins. scheme for domestic employees, it said in a filing to Tadawul.

BANKING-

EdfaPay is now able to roll out mobile point-of-sale services (also known as MPoS or SoftPOS), after it obtained a technical license from the Saudi Central Bank to provide the service, according to an emailed statement (pdf). The SoftPOS tech enables smartphones to process e-payments directly without needing traditional card readers.

Chinese sovereign bond yields drop to their lowest since 2009 amid demand slowdown and as property market crisis enters fifth year

China’s short-term bond yields — which move inversely to prices — have fallen to levels not seen since the global financial crisis in 2009 amid rising expectations of further rate cuts next year due to weak domestic demand, the Financial Times reports. Ten-year bond yields also fell by 0.03 percentage points to 1.74.

Driving these shifts is a combination of heightened demand for bonds and sluggish consumer activity. Domestic consumption growth has been underwhelming, with retail sales falling short of expectations and imports declining more than predicted last month, the Financial Times reports separately. The decline in yields also comes on the back of increased bond purchases from banks and ins. firms, one analyst told the FT.

The property crisis is also yet to let up: Developers in the country have defaulted on USD 130 bn bonds since the crisis began — including USD 15 bn in defaults this year alone, Bloomberg reports. Just this month, the banking regulator has asked insurers to report their financial exposure to China Vanke Co. to assess how much support China’s fourth-largest developer by sales needs to avoid default.

The Chinese government is pushing back: The People’s Bank of China last week gathered some banks that it says have engaged in “aggressive” trading of sovereign bonds to caution them against illegal trading and advise them to be more “prudent.” The People’s Bank of China also decided to hold its benchmark lending rates steady this month in line with the US Federal Reserve, though it plans to make further cuts next year as part of a shift towards more aggressive support and stimulus in a bid to stimulate the economy, which includes propping up the property market. Authorities have also been slashing purchasing costs and easing restrictions on developers, while also providing state guarantees for bond sales by more stable developers.

It could take a year or two before we see results: While measures have slowed the decline, one analyst estimated that it could take another year or two before the real estate sector bottoms out, with more defaults expected next year.

MARKETS THIS MORNING-

Asian markets are in the green, with Japan’s Nikkei up 1%, South Korea’s Kospi gaining 1.3%, and Hong Kong’s Hang Seng rising 0.7%, boosted by news of a potential merger of Honda, Nissan and Mitsubishi. Meanwhile, Wall Street is heading for a positive open ahead of a holiday-shortened trading week.

TASI	11,849	-0.4% (YTD: -1.0%)
MSCI Tadawul 30	1,485	-0.3% (YTD: -4.3%)
NomuC	31,238	-0.65% (YTD: +27.3%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	30,373	-0.5% (YTD: 22.0%)
ADX	9,351	+0.8% (YTD: -2.4%)
DFM	5,057	+0.2% (YTD: +24.6%)
S&P 500	5,931	+1.1% (YTD: +24.3%)
FTSE 100	8,085	-0.3% (YTD: +4.5%)
Euro Stoxx 50	4,862	-0.3% (YTD: +7.5%)
Brent crude	USD 72.94	+0.1%
Natural gas (Nymex)	USD 3.75	+4.6%
Gold	USD 2,645	+1.4%
BTC	USD 94,419	-1.7% (YTD: +124.6%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.4% yesterday on turnover of SAR 4.1 bn. The index is down -1.0% YTD.

In the green: Svcp (+9.9%), SHL (+6.4%) and Taiba (+5.0%).

In the red: Riyadh Cables (-6.3%), Shaker (-5.2%) and Sulaiman AlHabib (-4.0%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.65% yesterday on turnover of SAR 59.3 mn. The index is up 27.3% YTD.

In the green: Ioud (+11.9%), Al Rasheed (+8.3%) and Leaf (+6.9%).

In the red: KnowledgeNet (-8.5%), AlBabtain Food (-8.4%) and Azm (-8.4%)

CORPORATE ACTIONS-

#1- Sabic Agri-Nutrients to distribute SAR 1.4 bn in dividends: Fertilizers maker Sabic Agri-Nutrients is set to pay out SAR 1.4 bn in dividends on some 476 mn shares for its 2H 2024’s earnings, the company said in a Tadawul disclosure. The dividends will be distributed on 17 February, 2025.

#2- Al Baha Investment and Development Company’s shareholders approved a 26.5%reduction to the company's capital, according to a Tadawul statement. Trading on the company’s shares was suspended yesterday and today, before resuming tomorrow with fluctuation limits based on a price of SAR 0.44 per share. The reduction is meant to cover SAR 78.7 mn in accumulated losses.

#3- SPPC looks to convert SAR 73.7 mn of debt to capital: The Saudi Printing and Packaging Company (SPPC) submitted a request to the Capital Market Authority to convert SAR 73.7 mn in debts owed to Alinma Bank into capital to the Capital Market Authority, the company said in a Tadawul disclosure. SPPC signed a two-part debt settlement agreement with Alinma Bank last month to settle SAR 178.1 mn in outstanding debts. Our friends at EFG Hermes KSA were tapped as financial advisor for the transaction.

#4- Amwaj International lines up SAR 6 mn in dividends: Electronics and home appliances player Amwaj International is set to pay out SAR 6 mn in dividends, at SAR 1 per share, after it secured shareholders’ approval in a general assembly meeting on Thursday, the company said in a Tadawul disclosure. The dividends, which will be paid on its 2023 earnings, are slated for distribution on Wednesday, 1 January 2025.

#5- Savola Group is eyeing more buyback of the SAR 1 bn sukuk it had issued in 2019, the firm said in a disclosure to Tadawul. The company said yesterday it plans to buy back an extra 8.1%, or SAR 81 mn, of the sukuk, after it bought back and canceled SAR 859 mn, taking its total buyback program to 94%, up from 85.9%.

CALENDAR

DECEMBER

22-24 December (Sunday-Tuesday): Saudi-Yemeni Business Council discussions, Makkah.

23-25 December (Monday-Wednesday): Retail offering for Almoosa Health’s Tadawul IPO.

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

24-25 December (Tuesday-Wednesday): Retail subscription period for Nice One’s Tadawul IPO.

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.

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.

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.

FEBRUARY 2025

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

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.

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.

24-27 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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