PIF to invest USD 10 bn in green hydrogen

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Investment Minister Khalid Al Falih is in Pakistan for a three-day visit

Good morning, wonderful people. On the whole, it’s not a particularly busy news day, but the big story at home is rather significant: Unconfirmed reports indicate that the Public Investment Fund plans to make a USD multi-bn wager on green hydrogen by investing in production through a new firm.

^^ We have the details on this story and others in this morning’s news well, below.

HAPPENING THIS WEEK-

Saudi’s USD 5 bn investment in Pakistan could be in the home stretch: Investment Minister Khalid Al Falih is leading a high-level delegation to Islamabad for a three-day visit starting tomorrow, Pakistan’s Foreign Ministry spokesperson said in a press briefing yesterday, according to a readout. The minister is scheduled to meet with Pakistan’s President Asif Ali Zardari and Prime Minister Shehbaz Sharif, suggesting that the meetings could end with an announcement on the potential FDI package.

BACKGROUND- This visit follows discussions in April between Prime Minister and Crown Prince Mohammed bin Salman and Pakistan’s premier in Riyadh where they discussed a USD 5 bn investment packaged to support the cash-strapped country. The Crown Prince was expected to visit Pakistan back in May, but the visit was postponed.

Where could the money go? Just a week after the Riyadh talks, Foreign Minister Prince Faisal bin Farhan met with his Pakistani counterpart where the Saudi delegation was briefed on potential investments in various sectors in Pakistan including agriculture, IT, mining, and energy, among others.

WEATHER- In Riyadh, expect a warm day with a high of 36°C and a low of 23°C today. Dammam will be slightly hotter, peaking at 37°C before dropping to 24°C. Meanwhile, Abha enjoys milder temperatures, with a pleasant high of 28°C and a low of 17°C.

PSAs-

#1- Businesses subject to withholding tax must submit their September tax forms by this Thursday, 10 October to avoid a late payment fine of 1% for every 30 days of delay, Zatca said in a statement. Tax forms can be submitted on Zatca’s website here.

#2- Property owners in some areas of Dammam, Khobar, and Qassim can register their assets next month: The Real Estate General Authority is asking property owners of 351.3k plots in 316 neighborhoods in the Qassim region along with another 87.3k real estate plots in 26 neighborhoods in Dammam, and 14 in Khobar to register their properties in the real estate registry (RER) starting next month, according to two separate statements, here and here. Registration will open on Sunday, 3 November and close on Thursday, 6 February 2025. This is the authority’s latest rollout in a series of similar registrations aimed at populating the national registry.

#3- Saudi nationals no longer need a visa to travel to Solomon Islands: Holders of private, diplomatic, and official passports from both countries are now exempt from short-stay visa requirements, according to state news agency SPA.

SIGN OF THE TIMES-

Some 66% of Saudi professionals feel overwhelmed by the swift pace of workplace changes, with 58% worried about falling behind. Key challenges include managing multi-generational teams (37%), integrating AI into their work (36%), and adapting to working from the office (30%), Zawya reports, citing a Linkedin survey. Meanwhile, 53% of respondents believe experience isn’t enough on its own for success, while 39% stressed the need for continuous learning.

WATCH THIS SPACE-

#1- Go inches closer to acquiring Ejad Tech: Telecom operator Etihad Atheeb Telecommunication (Go) has received the greenlight from the General Authority for Competition for its planned acquisition of a 51% stake in IT firm Ejad Gulf Technologies, it said in a disclosure to Tadawul.

#2- Bienvenue à Riyadh: Some 18 French companies specializing in green buildings plan to enter the domestic market, with some planning to partner with local firms and launch regional headquarters, Aleqtisadiah reports, citing the French Embassy’s trade office in Riyadh. Around 40 more French companies plan to set up regional headquarters in the Kingdom, the news outlet said.

#3- Egypt’s Hassan Allam Holding plans to sign USD 500 mn worth of contracts for infrastructure projects in Saudi Arabia, Asharq Business quotes CEO Hassan Allam as saying. The company is ready to sign infrastructure development-focused contracts with the Saudi government, Allam said.

#4- PIF-backed luxury EV maker Lucid Group delivered nearly 2.8k cars in 3Q 2024, the company said yesterday (pdf). That figure is higher than earlier estimates of 2.2k in total deliveries for the quarter, Reuters reports citing a poll by Visible Alpha. The story was also picked up by Bloomberg.

The company is expected to announce its 3Q 2024 financial results early next month.

DATA POINTS-

#1- Retail investors made investments worth SAR 16 bn in the 10 IPOs on Tadawul’s main market this year so far, according to data compiled by Aleqtisadiah.

#2- Sales from 17 Saudi cement firms rose 4.3% y-o-y to 4.3 mn tons in September, Argaam reports citing data from Yamama Cement. Local sales were up 6.8% y-o-y, reaching SAR 4.2 mn tons, while exports dropped nearly 50%, totaling 93k tons.

#3- The National Company for Agricultural Services issued some 9.7k licenses in 3Q2024, state news agency SPA reports. Permits were granted for activities in agriculture, fisheries, livestock, veterinary, and other fields.

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THE BIG STORY ABROAD-

Israel, Hezbollah, and Hamas exchanged fire on the anniversary of the 7 October attack, with Israel launching air raids on 120 sites in southern Lebanon, and Hamas and Hezbollah both firing rockets at Israel, most of which the Israeli military said it had intercepted. Dozens of people in Lebanon were killed, including 10 firefighters, and two Israeli soldiers. Around 12 people were injured in Israel from Hamas’ and Hezbollah’s airstrikes. (Bloomberg | Reuters | The Guardian)

Oil prices rose to their highest levels since August, settling at USD 80.93 a barrel, as violence intensified and speculation over Israel’s retaliation with strikes on Iranian oil facilities continues, the Financial Times reports.

IN THE BUSINESS PRESS- Another antitrust defeat for Google is making headlines, after a US judge ruled that Google parent Alphabet open up its Play Store to its competition and distribute rival third-party app stores within its Play Store. The ruling comes following a jury decision last year that was in favor of Fortnite maker Epic Games, which had argued that Google had made it impossible for other app stores to establish themselves. (Reuters | FT | The Verge)

ALSO- It’s Nobel Prize season. The Nobel Prize in physiology or medicine was handed to Victor Ambros and Gary Ruvkun for their discovery of microRNA and the role it plays in gene regulation. Up next: The prize for physics will be handed out today, followed by chemistry tomorrow, literature on Thursday, peace on Friday, and economic sciences next Monday.

CIRCLE YOUR CALENDAR-

The four-day Saudi Film Forum 2024 will kick off Wednesday, 9 October in Riyadh, featuring areas for agreement signings, consulting, studio simulation, film talks, cinematic arts, and a little filmmaker section for children.

The Saudi Winter festivities are back, continuing until the end of March 2025, with over 1k events spread across seven key destinations: Riyadh, Jeddah, AlUla, the Red Sea, Eastern Province, Madinah, and Hail. The events include Riyadh Season, the Dakar Rally, MDL Beast’s music festival, hiking trails, camps, and winter caravans, with special offers available through the Visit Saudi app (Google Play | App Store).

The three-day 6 Kings Slam event at Riyadh’s Venue kicks off on Wednesday, 16 October, featuring all-star players competing for the largest purse in tennis history. The matches will see face offs between tennis champs Novak Djokovic, Rafael Nadal, Jannik Sinner, Carlos Alcaraz, Daniil Medvedev, and Holger Rune (watch, runtime: 5:15). The final and third-place match will be held on Saturday, 19 October. Book your tickets here.

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 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 four-day Biban24 Forum organized by Monsha’at will run from Tuesday, 5 November to Saturday 9 November in Riyadh. It will feature over 250 speakers and 1.4k exhibitors, focusing on supporting the growth and competitiveness of SMEs, as well as promoting entrepreneurship in the Kingdom. Biban24 will also host the Entrepreneurship World Cup finals, offer 420 workshops, and focus on key sectors like e-commerce and financing.

The Saudi General Aviation Airshow Sand & Fun 2024 will run from Tuesday, 19 November to Saturday 23 at Al Thumamah Airport, Riyadh. Organized by the Saudi Aviation Club, the event will feature 100+ exhibitors and 15 airshow teams, with over 100k visitors expected. Sand & Fun is a key platform for exploring aviation tech, fostering partnerships, and driving industry growth.

PIF plans USD multi-bn green hydrogen investment through a new firm

A new green hydrogen firm? The Public Investment Fund (PIF) reportedly plans to invest at least USD 10 bn in green hydrogen production via a newly-formed company named Energy Solutions, Bloomberg reports, citing unnamed sources it says are familiar with the matter. News of the firm’s launch is expected as early as this month, sources say. Saudi Aramco is said to be a co-investor in the new company, although the size of its contributions is unknown.

Saudi has big green hydrogen plans: The Kingdom’s USD 8.4 bn green hydrogen plant at Neom is set to reach full capacity by the end of 2026. The Neom Green Hydrogen Company reached financial close with financing from 23 local, regional, and international banks and financial institutions back in May 2023. The mega facility will produce up to 600 tons of green hydrogen per day, with the capacity to produce 1.2 mn tons of green ammonia annually. The plant will source its power needs from up to 4 GW of solar and wind energy. US-based Air Products secured an exclusive 30-year off-take agreement for all the green ammonia produced at the plant.

ICYMI- Investment Minister Khalid Al Falih recently tapped Italy as a “partner of choice” through which the Kingdom can channel hydrogen exports to Europe. Al Falih also cited a need to build out ports and pipelines to carry low carbon energy exports to Europe.

Blue hydrogen is also on the cards: The Kingdom is looking to establish a global presence in blue hydrogen production as well, with a goal of eventually supplying 15% of the world’s blue hydrogen volumes, PIF Governor and Aramco Chairman Yasir Al Rumayyan said back in February. The country’s eastern region is well-positioned to support the development of a blue hydrogen industry due to existing oil and gas production infrastructure and access to deep saline aquifers for CO2 storage, according to the King Abdullah Petroleum Studies and Research Center.

SOUND SMART- Green vs. blue hydrogen: Green hydrogen is produced using renewable energy such as wind or solar power to split water into hydrogen and oxygen, emitting zero carbon in the process. However, it comes with a higher price tag due to costly production and infrastructure demands. Blue hydrogen on the other hand is produced from natural gas with carbon emissions captured and stored to mitigate environmental impact. It is less expensive to make and can be scaled faster with existing infrastructure but its reliance on fossil fuels presents a trade-off in terms of sustainability.

Almajed Oud shares jump on Tadawul debut

Almajed Oud’s shares climbed 30% on their first day of trading on Tadawul’s main market yesterday, closing at SAR 122.2 apiece, up from their debut price of SAR 94.0 per share, 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.

Background: The perfume maker wrapped up its 30% stake offering last month at SAR 94 apiece, allowing it to raise SAR 705 mn in proceeds, and giving it a market cap of SAR 24 bn at listing. The institutional tranche of the offering was 15.6x oversubscribed and the retail tranche was 8.2x oversubscribed.

ADVISORS- BSF Capital was financial advisor and lead manager, while Baker Mckenzie provided counsel to the issuer. Stat was counsel to the financial advisor, underwriter manager, institutional subscription manager and lead underwriter. PwC ran financial due diligence, while Euromonitor International acted as the market study advisor and BDO Dr. Mohamed Al Amri & Co was the independent financial auditor.

SAUDI IPO PIPELINE AT A GLANCE-

Among the transactions now in the market or expected soon:

Fourth Milling Company (MC4) closed the retail tranche of its Tadawul IPO with a 3.9x oversubscription rate this week. The company is taking a 30% stake to market;
Arabian Mills is selling a 30% stake on Tadawul, with its institutional offering selling out within hours and closing 132x oversubscribed;
Nice One Beauty Digital Marketing Company has received regulatory approval to offer a 30% stake on Tadawul;
Shalfa Facilities Management is planning to offer a 15% stake on the Nomu parallel market;
Naqawa for Information Technology (Purity Tech) is taking a 25% stake public in an IPO on Tadawul’s parallel market Nomu;
Real estate developer First Avenue is set to sell an 8.7% stake on the Nomu parallel market, pricing its offering at the top of the range after its bookbuilding process drew in strong investor interest;
Hypermarket operator Lulu is said to be eyeing a dual listing on Tadawul and ADX this November;
Singapore’s Olam Group is mulling the IPO of its Olam Agri subsidiary on Tadawul;
Aster DM Healthcare looks set to spin off its GCC assets and seek a dual listing on Tadawul and in the UAE;
PIF-backed lender Riyad Bank is considering the listing of its investment banking arm Riyad Capital;
Nupco — a unit of the PIF — has reportedly tapped Rothschild & Co as financial advisor for its potential Tadawul IPO;
Budget airline Flynas is reportedly looking to go public this year.

Almajed Oud’s bottom line fell 22% y-o-y in 2Q 2024

Newly-listed perfume maker Almajed Oud saw its net income drop 22% year-on-year to SAR 55.5 mn in 2Q 2024, according to a disclosure to Tadawul. Revenues rose 5.7% y-o-y to SAR 257 mn, driven by the uptick in sales during Hajj season and the expansion of its store network.

On a 1H basis: The company’s bottom line grew 18.3% y-o-y to SAR 119.5 mn in 1H 2024, and its revenues increased 21% to SAR 513.1 mn, with both increases also coming on the back of the Hajj season.

PIF-backed Nintendo rallies + Saudi’s use of digitization for economic growth

It’s another mixed bag for Saudi Arabia in the foreign press, with coverage of PIF-backed Nintendo’s share rally, a report on Kingdom’s digitization efforts, Saudi’s bid to rejoin the UN Human Rights Council all making the rounds.

PIF-backed Nintendo shares rose 4.4% on Monday after reports that the Public Investment Fund (PIF) is considering raising its stake in the gaming company, according to CNBC. The fund also holds stakes in Japanese gaming firms Koei Tecmo, Nexon, and Capcom, and it is exploring further investments in Japan’s video gaming sector as it looks to localize the industry. PIF currently owns 8.58% of Nintendo.

!_Insertline_!

MEANWHILE- CNN is out with a report looking at how Saudi Arabia is trying to leverage digitization, particularly AI, to power its economic growth. The report features interviews with Aramco Digital Tareq Amin, Saudi Data & AI Authority’s Chief Strategy Officer Abdullah Sulaiman Alkhodairi, and the Secretary General of the Digital Cooperation Organization Deema Alyahya.

AND- Saudi Arabia’s bid for a seat on the UN Human Rights Council is drawing international attention ahead of tomorrow’s vote, after losing it in 2020.

Almarai is set to fully take over Jordan-based dairy producer Hammoudeh Food Industries

M&A WATCH-

#1- Almarai’s subsidiary Teeba Investment for Developed Food Processing inked an agreement that will see it takeover Jordan-based dairy producer Hammoudeh Food Industries for SAR 263 mn, Almarai said in a disclosure to Tadawul. The potential transaction will be financed through Almarai’s internal cashflows.

#2- Sarco inches closer to acquiring Golden Compass: Oil refineries operator Saudi Arabian Refineries Company (Sarco) has tapped undisclosed advisors for its potential acquisition of Golden Compass Mining Services Company through a share-swap agreement, it said in a disclosure to Tadawul

FINANCIAL SERVICES-

#1- AlEtihadCooperative Ins will provide reins. coverage against the default of Saudi Re under a SAR 208.7 mn, one-year reins. contract, according to a disclosure to Tadawul. The would see Al Etihad cover the outstanding financial dues and wages owed to non-Saudi employees in the event of Saudi Re’s default.

#2- Damanat + SRC: PIF-owned Saudi Real Estate Refinance (SRC) has inked an MoU with Saudi Mor tgage Guarantees Services Company (Damanat) that would see the latter provide coverage for the mortgage portfolios owned by the fund, according to a joint statement.

HOSPITALITY-

Built Industrial to construct The Point Abha multi-use project: Ladun Investment’s subsidiary Built Industrial was awarded a SAR 645.7 mn contract by the Real Estate Development Fund (REDF) for the construction of a 75k sqm multi-use project dubbed The Point Abha, according to a disclosure to Tadawul. Information about the timeline wasn’t disclosed.

SERVICES-

Global management consulting player Trascent and Saudi-based Gulaid Holding have launched a new JV, Trascent Arabia, in the facilities management sector, according to a press release. The JV will provide management consulting services, along with contract execution and management, and program management.

TOURISM-

PIF-owned Aseer Investment partnered with Nmr Real Estate and the National Companyfor Tourism (Syahya) to develop a tourism project in central Abha in Aseer, according to state news agency SPA. The development will include coffee shops, restaurants, and retail stores. No details were provided on the timeframe or investment ticket of the project.

Derivative-backed ETFs are taking off with retail investors — but high payouts come with risks

Derivative-enhanced ETFs, the next meme stocks? Derivative-backed exchange-traded funds (ETFs) are the latest financial instrument to be a day trading hit, luring amateur investors in droves with massive payouts, Bloomberg reports. These ETFs are gaining popularity in no small part thanks to “financial influencers” touting them on TikTok, Youtube, and other social media as an easy way to make big gains in a short time.

By the numbers: Derivative-backed ETFs boost returns on the stocks that they are linked to by overlaying them with options and other derivatives. Although usually sold as a defensive strategy, the options can be cashed-in, generating dividends with a 100% yield or greater. Both startup and legacy firms are piling in, with 164 derivative-based products launched in the US year-to-date. The category’s assets have also grown 6x over a five-year timeframe to some USD 300 bn, according to Bloomberg data. Their growth is contributing to a wider ETF boom, with the market now valued at USD 10 tn.

Too good to be true? Experts and regulators are growing increasingly concerned that day traders are jumping on the trend without understanding the full risks involved. Youtube tutorials and other media promoting these strategies are often sponsored and tend to gloss over the risks involved. “The most important thing the industry can do is make sure clients understand what to expect in these strategies. That’s actually what keeps me up at night,” JP Morgan asset manager Hamilton Reiner — who helped pioneer the new class of ETFs — told Bloomberg.

It’s basic arithmetic: Funds bestowing yields of 30% or more will undoubtedly erode their net-asset value, Reiner said. If investors are not careful, erosion in their holdings’ net-asset value can see their portfolio values wither away.

Regulators are also raising flags: “The number of self-directed investors has multiplied at the same time that product complexity has increased and access to an almost unlimited menu of financial products has grown,” investor advocate at the US Securities and Exchange Commission Cristina Martin Firvida told Bloomberg, referencing the explosion in the number and variety of derivative-backed ETFs and their rapid uptake by inexperienced traders. A recent review of financial influencer activity found that the vast majority of that content — both about ETFs and other financial products and strategies — did not comply with US Financial Industry Regulatory Authority regulations, Bloomberg says.

On the flipside: The new wave of ETFs is “democratizing access to finance,” Bloomberg wrote citing advocates of laissez-faire policies, with the new products allowing mainstream online traders to access financial strategies that were previously restricted. “There is a breaking down of traditional barriers because ETFs are direct-to-consumer products,” chief revenue officer at Tidal Financial Group Gavin Filmore said. “The minute I launch a product, every trader at home can buy it. It’s like a sneaker, it’s like a potato chip,” he adds.

MARKETS THIS MORNING-

Mainland China’s markets extended their rally before paring gains on the first day of trading after the country’s Golden Week holiday, as the country’s top economic planner unveils more details on the government’s planned stimulus package in a morning press conference. Other Asian markets are down in early morning trading, led by the Hang Seng Index, which tumbled 6.3%. Across the pond, it’s a sea of red for US futures, with the Dow Jones, S&P 500, and Nasdaq all down in pre-market trading.

TASI	11,914	+1.2% (YTD: -0.5%)
MSCI Tadawul 30	1,492	+1.2% (YTD: -3.8%)
NomuC	24,649	0.0% (YTD: +0.5%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.5% repo	5.0% reverse repo
EGX30	31,819	+0.3% (YTD: +27.8%)
ADX	9,147	-0.4% (YTD: -4.5%)
DFM	4,395	-0.3% (YTD: +8.3%)
S&P 500	5,696	-1.0% (YTD: +19.4%)
FTSE 100	8,304	+0.3% (YTD: +7.4%)
Euro Stoxx 50	4,970	+0.3% (YTD: +9.9%)
Brent crude	USD 81.06	+3.9%
Natural gas (Nymex)	USD 2.75	-3.8%
Gold	USD 2,666	-0.1%
BTC	USD 63,198	+0.9% (YTD: +49.0%)

THE CLOSING BELL: TADAWUL-

The TASI rose 1.2% yesterday on turnover of SAR 7.0 bn. The index is down 0.5% YTD.

In the green: Almajed Oud (+30.0%), Al Baha (+10.0%) and Al Omran (+9.9%).

In the red: Retal (-4.2%), Kingdom (-2.6%) and Aslak (-1.8%).

THE CLOSING BELL: NOMU-

The NomuC closed flat yesterday on turnover of SAR 48.5 mn. The index is up 0.5% YTD.

In the green: Naas Petrol (+9.6%), Leaf (+6.5%) and Alashghal Almoysra (+5.2%).

In the red: Riyadh Steel (-12.7%), Al Hasoob (-5.8%) and View (-4.7%)

CORPORATE ACTIONS-

#1- SNB Capital lined up approval from the Capital Market Authority (CMA) for a public offering of units of the SNB Capital Saudi Nomu Market Fund, according to a statement. No further details on the offering have so far been disclosed.

#2- Alistithmar Capital also received CMA approval for the public offering of Alistithmar Capital Small-Mid Cap Saudi Companies Fund, the authority said in a separate release. No further information the offering was provided.

#3- Tatwir Aliddijhar for Financial Technology has received a fintech experiment permit from the CMA to test out its robo-advisory services, according to a statement.

CALENDAR

OCTOBER

9-12 October (Wednesday-Saturday): Saudi Film Forum 2024, Riyadh.

12 October (Saturday): Riyadh Season.

12 October (Saturday): Shakur Stevenson x Joe Cordina, Riyadh.

12 October (Saturday): Beterbiev x Bivol in Four-Crown Showdown, The Kingdom Arena, Riyadh.

12-14 October (Saturday-Monday): Global Logistics Forum, Riyadh.

15-16 October (Tuesday-Wednesday): Solar & Storage Live KSA, Riyadh.

16-17 October (Monday-Tuesday): Global Airport & Aviation Forum, Jeddah.

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.

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.

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

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

2-9 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.

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.

11-14 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.

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.

JUNE 2025

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

2026

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

2027

The World Water Forum takes place in Riyadh.

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