Real estate prices in 3Q see slowest rise in two years. PLUS: Big banks exceed expectations in the third quarter

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Chinese developers to make up for local contractors shortage -Al Hogail

Good morning, ladies and gents. Real estate reforms seem to have started pulling the brakes on rising prices, as the latest data from Gastat is showing 3Q saw the slowest increase in prices in two years. Adding to the good news are big banks seeing a bumper third quarter, with net income exceeding analyst forecasts for all four banks out with their results yesterday. Let’s dive in.

HAPPENING TOMORROW-

The Saudi Exchange will start trading Canadian Medical Center shares on the Main Market tomorrow, according to a Tadawul statement. The move follows the exchange’s approval earlier this month to transfer from Nomu with a capital of SAR 77 mn. The share price will be allowed to fluctuate by 10% daily.

WEATHER- Brace for a wild weather ride today: Thunderstorms and hail are set to hit Jazan and Asir, while the highlands of Al Baha and Makkah could see heavy rainy clouds and pockets of fog. Dusty, gusty winds will whip through southern Riyadh, and lighter dust may stir in the Northern Borders and Eastern regions.

Riyadh: 33°C high / 19°C low,
Jeddah: 36°C high / 26°C low
Makkah: 38°C high / 28°C low
Dammam: 33°C high / 20°C low.

PSAs-

Riyadh, Tabuk, and Makkah’s residents: brace yourselves for fixed sirens on Monday, 3 November, state news agency SPA reported on Sunday. The sirens will sound in Riyadh’s Diriyah, Al Kharj, and Al Dilam governorates, Makkah’s Jeddah and Thuwal, and across Tabuk governorates. Warning messages will be broadcast via the new tone at 1pm, the national alert tone at 1:10pm, and fixed sirens in designated areas at 1:15pm. The General Directorate of Civil Defense conducts these sirens to ensure community awareness and the system’s efficiency and readiness to respond.

WATCH THIS SPACE-

#1- The Kingdom is turning to “the best Chinese names” in the real estate sector in a bid to overcome shortage of local contractors, Housing Minister Majid Al Hogail told Asharq Business on Sunday. The White Land Tax law will help increase the growing momentum of the Kingdom’s real estate sector by ramping up cooperation with international companies, Al Hogail noted.

ICYMI- Al Hogail visited China last week, holding meetings with representatives of PowerChina, MCC, and CMEC to discuss cooperation in construction technologies. The visit also saw the National Housing Company sign framework agreements with Chinese firms, SAR 8.7 bn of which are with the China Seventh Construction Engineering Bureau (C7B) to develop over 20k units.

#2- Al Hassan Contracting is in talks with Egyptian digital transformation and cybersecurity solutions company Digital Planets over a 50% stake acquisition, Digital Planets’ CEO Ahmed Hanafy told Al Mal. The transaction — which could later extend to include Digital Planets’ UAE operations — follows Al Hassan’s earlier acquisition of a 50% stake in the company’s Saudi subsidiary, Hanafy told EnterpriseAM.

Also in the pipeline: Digital Planets is preparing to enter the Omani market next year, Hanafy told us. The move aims to strengthen the company’s presence in the GGC.

#3- Saudi Arabia plans to restructure railway projects into smaller fragments to attract private funding, Transport Minister Saleh Al Jasser told Asharq Business on the sidelines of the Saudi International Railway Exhibition and Conference. The government is seeking to boost local components in the railway industry from 52% to 60% by the end of the decade.

What’s in store for Saudi rail? The Kingdom is currently working on its Riyadh-Jeddah land bridge megaproject, whose project management contract was awarded to a consortium of US-based construction management firm Hill International, Italian consulting firm Italferr, and Spanish engineering firm Sener. Also in the works is the GCC railway project, a 2.1k km railway linking the six GCC member states.

DATA POINTS-

Qualified foreign investors recorded SAR 1.5 bn in net purchases of Saudi stocks on Tadawul main market during the week that ended on 16 October, according to the exchange’s Weekly Ownership and Trading Activity report (pdf). Saudi investors recorded SAR 1.5 bn in net sales, while foreign investors posted net purchases of SAR 1.4 bn and GCC investors posted net purchases of SAR 24.1 mn. Institutional investors led the purchasing activity at 53.4%, accounting for SAR 15.4 bn, while retail investors totaled 46.6%, amounting to SAR 13.5 bn.

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THE BIG STORY ABROAD-

Topping business headlines internationally this morning is Amazon Web Services’ outage yesterday, which lasted about 15 hours before operations were restored to normal. The outage — which was caused by a database malfunction — impacted thousands of websites and applications, including Venmo, Snapchat, and Zoom. It was the largest internet crash since CrowdStrike’s last year, and the largest for AWS since a previous crash in 2021. (Bloomberg | Reuters | Wall Street Journal | AP)

ALSO- Stock markets across the world are getting attention amid several stock rallies:

The S&P 500 rose 1% as earnings season rolls in, boosted by Apple’s shares hitting an all-time high on the back of strong sales momentum for its iPhone 17. (Bloomberg | Reuters)
Japan’s benchmark Nikkei 225 rose more than 1% to an all-time high, as the country awaits a parliamentary vote which is likely to see Sanae Takaichi become the country’s next prime minister (and its first female PM). (CNBC)

Real estate price growth slows to 1.3% in 3Q

The real estate price index grew by just 1.3% y-o-y in 3Q 2025 — its lowest rate since 1Q 2022, according to data (pdf) from the General Authority for Statistics. The residential sector was behind the cooldown, marking its first decline since early 2024.

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Breaking down the numbers: Residential real estate prices fell 0.9% y-o-y in the third quarter. Land prices slipped 0.9%, and apartment prices fell 1.7%. Villa prices saw a modest increase of 0.2% and floor prices inched up by 0.3%.

Meanwhile, the commercial sector climbed at a slower pace, logging a 6.8% y-o-y increase in 3Q, compared to 11.7% in the previous quarter. Commercial land prices were up 7.2%, building prices rose 3.3%, and showroom prices edged up 1.1%.

Momentum cooled across major regions: Prices in Riyadh finally cooled down, inching up 1% y-o-y, down from 3.6% in the previous quarter. The steepest declines were in Madinah (down 8%), Northern Borders (down 7.7%), and Hail (down 7.3%). Meanwhile, the Eastern Province led the rise in real estate prices with a 6.1% increase, followed by Najran (3.7 %) and Tabuk (3.4%).

Are the reforms starting to take effect? The government has rolled out sweeping reforms to stimulate the real estate market to tackle “unacceptable” real estate prices, the Crown Prince acknowledged in his annual address. This includes a five-year rent freeze, opening property ownership to non-Saudis, permitting foreign investment in Makkah and Madinah real estate firms, and amending the White Land Tax law. The Royal Commission for Riyadh City also lifted temporary suspensions on a total of 114.7 sq km and launched the Tawazoun platform, offering citizens residential plots, capped at SAR 1.5k per sqm.

Saudi National Bank, Al Rajhi, Riyad Bank and Saudi Fransi report 3Q results

Four out of Saudi’s big five banks are out with their 3Q results, logging high growth in net income (save for Riyad Bank). All banks managed to exceed analyst forecasts for net income during the quarter.

SAUDI NATIONAL BANK-

Saudi National Bank’s (SNB) net income jumped 20.6% y-o-y to SAR 6.5 bn in 3Q 2025, its highest quarterly bottom line on record — and well above Bloomberg ’s forecast of nearly SAR 5.5 bn — the bank said in a Tadawul disclosure yesterday.

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The drivers: The growth is attributed to a 10.4% rise in total operating income, an 8.2% increase in fees from banking services, and 12% lower total operating expenses. Meanwhile, SNB’s income from financing was up 3.1% y-o-y at SAR 12 bn in the third quarter, while income from investments increased 12.5% y-o-y to SAR 3.8 bn.

On a 9M basis, the Kingdom’s biggest lender by assets saw its net income increase 19.1% y-o-y to SAR 18.6 bn. Meanwhile, it posted a 3.3% y-o-y increase in total income from financing at SAR 34.4 bn and a 13.1% climb in income from investments at SAR 10.9 bn during the same period.

AL RAJHI BANK-

Al Rajhi Bank recorded a 24.6% y-o-y rise in net income to SAR 6.4 bn in 3Q 2025, surpassing Bloomberg analysts’ forecast of SAR 5.8 bn, it said in a disclosure to Tadawul yesterday.

The drivers: The strong performance was supported by a 17.1% rise in total operating income, driven by higher net financing and investment income, as well as stronger fee and commission income, trading gains, and exchange income. Meanwhile, income from financing was up 14.5% y-o-y to SAR 11.8 bn, and income from investments climbed 34.1% to SAR 2.5 bn.

Over the first nine months of 2025, the bank saw its net income rise 29.6% y-o-y to SAR 18.4 bn. Meanwhile, income from financing was up 17.3% y-o-y to SAR 34 bn and income from investments soared 36.4% to SAR 7.1 bn.

RIYAD BANK-

Riyad Bank’s net income edged up 1.3% y-o-y to SAR 2.7 bn in 3Q 2025, on the back stronger operating income despite rising operating expenses, it said in a disclosure to Tadawul yesterday. The figure surpassed Bloomberg analysts’ estimate of SAR 2.5 bn and marks the slowest earnings growth among Saudi banks that have reported so far.

Total income from financing increased 13.6% y-o-y to SAR 6.3 bn over the same period, while income from investments climbed 13.8% y-o-y to SAR 741.5 mn.

On a 9M basis, Riyad Bank’s net income rose 10% y-o-y to SAR 7.8 bn, driven by an 8.6% increase in total operating income to SAR 13.7 bn. Total income from financing increased 12.5% y-o-y to SAR 17.8 bn, while income from investments grew 16.6% y-o-y to SAR 2.2 bn.

BANQUE SAUDI FRANSI-

Banque Saudi Fransi (BSF) saw its net income expand 17.9% y-o-y to SAR 1.35 bn in 3Q 2025 — slightly surpassing Bloomberg analysts’ expectations which stood at SAR 1.32 bn — the bank said in a Tadawul disclosure yesterday. The bank saw its total income from financing went up 4.5% y-o-y to SAR 3.8 bn over the same period and its income from investments climb 22.9% y-o-y to SAR 714 mn.

On a 9M basis, net income increased 19.5% y-o-y to SAR 4.1 bn. Meanwhile, its total income from financing expanded 4.9% y-o-y to just shy of SAR 11 bn and its income from investments jumped 18.1% y-o-y to slightly over SAR 2 bn.

ALDREES-

Aldrees Petroleum and Transport Services’ net income climbed 34.5% y-o-y to SAR 113.8 mn in 3Q 2025, it said in a Tadawul disclosure yesterday. The increase was fueled by higher sales from its petrol and transport divisions and increased income from deposits and sukuk, which offset losses from an investment JV.

MEANWHILE- Revenue grew 34.9% y-o-y to SAR 6.9 bn over the same period, buoyed by an increase in the number of service stations and higher efficiency in the transport and logistics division.

On a 9M basis, the fuel retailer’s bottom line posted a 28.3% y-o-y hike to SAR 313.6 mn, while its top line increased 34.6% y-o-y to SAR 18.9 bn.

KEEP AN EYE OUT-

Saudi Awwal Bank — the last bank among Saudi’s big five — is expected to announce 3Q results sometime this week.
Saudi Telecom Company (stc) and Saudi Basic Industries (Sabic) will post their 3Q results on Monday, 3 November.
Saudi Aramco is set to announce 3Q 2025 financial results on Tuesday, 4 November, with expectations to reach SAR 89 bn in net income for the quarter, compared to SAR 97.6 bn over the same period last year. The company’s net income fell 22% in 2Q 2025 to just above SAR 85 bn (USD 22.7 bn).

Qiddiya awards SAR 5.4 bn contract to build performing arts center

PIF-backed Qiddiya Investment Company (QIC) awarded a SAR 5.4 bn (c. USD 1.4 bn) contract to Nesma & Partners to build the performing arts center in Qiddiya Entertainment City, Meed reported earlier this month. The center will feature over 3k seats across three theatres and a cantilevered amphitheatre with 500 suspended seats overlooking the city’s lower plateau.

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More details: The contract — tendered in September 2024 and finalized after bids in May this year — comes after QIC appointed US-based Tom Wiscombe Architecture as the design architect and Dubai-based Brewer Smith Brewer Gulf as the design consultant.

The venue is part of the wider Qiddiya City master plan, which also includes the Prince Mohammed bin Salman Stadium, Six Flags and Dragon Ball theme parks, an esports arena, and the Aquarabia water park — both Six Flags and Aquarabia are set to open this year.

REFRESHER- QIC awarded a SAR 4 bn (USD 1.1 bn) contract last October to Khobar-based Nesma & Partners and Madrid-based FCC Construction for the construction of the 45k-seat Prince Mohammad bin Salman Stadium in Riyadh’s Qiddiya city, which is slated for completion in 2029. Qiddiya will host another national stadium after QIC received expressions of interest in September from contractors for a SAR 7 bn (USD 1.8 bn) contract to build the stadium, which is scheduled to be completed by 2030.

Lavenco is floating 300k shares on Nomu

Lavenco Aluminum Systems, also known as Zahr Al Khuzama Aluminum, is offering 300k ordinary shares, representing 25% of its capital, on the Nomu Parallel Market, according to its prospectus (pdf). The issuance — equivalent to 20% of post-IPO capital — lined up the Capital Market Authority’s approval in June.

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The timeline: Qualified investors can subscribe for a minimum of 10 shares and a maximum of 74.99k shares during a five-working-day subscription window from 12 to 18 November. Final share allocation will be announced on 23 November, while any surplus refunds will follow two working days later.

Use of proceeds: Lavenco plans to direct the entire IPO proceeds — estimated at SAR 14 mn — toward financing its expansion and operational growth plans. The company plans to build a new SAR 5.1 mn aluminum systems factory in Dammam, spanning 8k sqm, and invest SAR 1.2 mn in aluminum production lines. Another SAR 4.5 mn will be allocated to working capital for aluminum operations, while SAR 755k is earmarked for iron production lines and SAR 2.5 mn for general working capital.

A glance at finances: The company’s net income grew 17.6% y-o-y to SAR 5.1 mn in 2024, while revenues rose 12% y-o-y to SAR 24.5 mn.

About the company: Established in 2016, the company began as a single-owner aluminum manufacturer before transitioning into a joint stock company. It specializes in curtain walls, doors, windows, louvers, and facade systems, catering primarily to private-sector construction and contracting clients across the Kingdom.

ADVISORS- The company tapped Amwal Financial as the financial advisor and Derayah Financial as the lead manager and bookrunner. Receiving agents include Alinma Investment, Alrajhi Capital, SNB Capital, BSF Capital, Riyad Capital, ANB Capital, Alistithmar Capital, Albilad Capital, Aljazira Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, GIB Capital, Musharaka Capital, EFG Hermes, and Awaed Alosool Capital.

Abyan Capital launches shariah-compliant US trading platform with Alpaca

Riyadh-based robo-advisor Abyan Capital rolled out a self-directed trading platform that allows Saudi investors to buy shariah-compliant US equities and open high-yield savings accounts, it said in a press release (pdf). The new platform, developed in partnership with California-based brokerage tech firm Alpaca, offers digital onboarding, instant funding channels, and tools to calculate the zakat, purification, and shariah compliance of the listed securities.

What they said: “We identified a significant gap in the Saudi market: no single player was offering shariah-compliant products, intuitive user experiences, and efficient access to US markets all on one platform. We believe we can be that player,” Abyan Capital Co-founder Saleh Alaqeel said.

IN CONTEXT- The move comes amid a sharp rise in Saudi trading activity in US markets. Transactions by Saudi investors jumped 230% in 2Q 2025 to SAR 193.4 bn (USD 51.6 bn), with US equities accounting for almost all cross-border trades, the statement read, citing data from the Capital Market Authority. “Additionally, the US markets accounted for over 98% of all international trading by Saudi investors.”

The two are longstanding partners: Abyan Capital and Alpaca first partnered in 2021, when the Saudi robo-advisor integrated Alpaca’s Broker API to power its automated wealth management app, which launched commercially in late 2022. The platform attracted over 100k downloads within three months, marking Abyan’s entry into digital portfolio management for retail investors.

Opening the gates both ways: Alpaca has recently completed a technical integration with Tadawul-listed e-brokerage Derayah Financial enabling non-resident clients to trade directly in the Saudi market. The collaboration is part of a broader effort to expand cross-border access and digitalize investment services. It follows Derayah’s MoU with Abyan Capital to streamline retail transactions.

IB Ventures launches USD 50 mn biotech fund

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Riyadh-based IB Ventures launched a USD 50 mn investment platform focused on advancing biotechnology innovation and localizing key technologies in the Kingdom, according to a company statement. The initiative, billed as a first for the region, seeks to attract high-potential international biotech firms, support technology transfer, and nurture Saudi startups across therapeutics, diagnostics, digital biology, and bio-manufacturing.

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The program integrates venture funding with incubation and acceleration support, while fostering collaboration with global research partners in the US and Switzerland where IB Ventures is expanding internationally with new offices, Bridge Middle East reports. The move aligns with Saudi Arabia’s National Biotechnology Strategy.

What they said: "The initiative establishes an integrated investment path that links financing, expansion and exit, ensuring the sustainability of returns and attracting strategic investors to the vital sector,” General Partner at IB Ventures Mohammed Alangari (LinkedIn) said.

PIF-backed Hassana Investment names seasoned banker Sabty Al Sabty as CEO

PIF-backed Hassana Investment named Sabty Sulaiman Al Sabty as its new CEO, effective 1 December, Bloomberg reports, citing a spokesman for the USD 320 bn pension fund. Al Sabty will succeed Saad Alfadly, who moved to Brookfield Asset Management in August after more than 10 years at Hassana’s helm.

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Al Sabty brings decades of experience in the financial sector, with several executive roles such as Riyad Bank’s CEO and head of the Listed Companies and Investment Products Department at the Capital Market Authority, along with a career headstart at PwC, according to Bloomberg.

Al Sabty is also a board member in many Saudi entities, including Tadawul Group, the Zakat, Tax, and Customs Authority, the General Authority for Awqaf, the Fund of Funds Company (Jada), Saudi Venture Capital Company, and SNB Capital, according to the Exchange’s website.

ALSO- Tanmiah Food appointed Zein Attar (LinkedIn) as its managing director and chief human resources officer, it said in a disclosure to Tadawul (pdf) yesterday. Attar brings over 15 years of experience in human resources and organizational strategy, having held senior roles at Taqa, Mercer, and Bupa Saudi Arabia prior to Tanmiah. She previously served as chair of Tanmiah’s Nomination and Remuneration Committee and as an independent board member.

Tamara is now licensed in the UAE

FINTECH-

Tamara receives restricted license from CBUAE: Payments fintech platform Tamara secured a restricted finance license from the Central Bank of the UAE (CBUAE), according to a press release. With the license, the fintech unicorn can roll out its credit and payment services in the UAE, expanding its footprint in the country.

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Background: The fintech — which is Saudi Arabia’s first unicorn — already partnered with Mastercard earlier this year to launch a shariah-compliant split payment card, as well as with Dubai’s Finance Department to collaborate on biometric payments.

M&A WATCH

Qashio enters Saudi market with SanadCash acquisition: Dubai-based B2B spend management platform Qashio acquired Saudi fintech SanadCash for an undisclosed sum, marking its entry into the Saudi market, according to a press release. The two firms will build a “unified platform that simplifies how companies manage spending” and that enhances financial transparency, the statement said.

REMEMBER- Qashio raised USD 19.8 mn in May to finance its Saudi expansion and scale its B2B fintech loyalty program. The round — led by Rocketship VC with participation from ABN Ventures and regional investors — supports regulatory compliance and growth across Mena, Europe, and the UK.

Next step, scaling up operations: Over the next six months Qashio plans to hire over 120 new employees across key markets, including KSA, Europe, the UK, and the UAE, to support its expansion and product rollout.

REGULATION WATCH-

The Municipal and Rural Affairs and Housing Ministry approved new rules forusing public sidewalks for commercial purposes (pdf), it said in a statement on Sunday. The updated regulations aim to better organize how cafes, restaurants, and shops use space outside their businesses while keeping sidewalks clear and safe for pedestrians.

The move seeks to balance business needs with public access, ensuring smoother foot traffic and maintaining the original purpose of sidewalks as shared public spaces. Businesses can apply for permits through the Balady platform, which simplifies the approval process and clarifies all requirements.

Emerging markets shine as gold rally lifts assets to multi-year highs

The sharp rally in gold prices is fueling strong gains across emerging markets, lifting equities, currencies, and investor sentiment in key producers, Bloomberg reported on Sunday. South Africa’s bourse is on track for its best year in two decades, with gold miners Sibanye Stillwater, AngloGod Anshanti, and Gold Fields tripling in value this year.

“The rally in gold is beneficial for a small group of countries in emerging markets such as Uzbekistan, Ghana, and South Africa. The wider story of the rising gold price is that investors are increasingly looking for alternative investments away from the more traditional developed market currencies,” portfolio manager at William Blair Investment Management Daniel Wood told Bloomberg.

South Africa's FTSE/JSE Africa All Share Index has climbed more than 30% this year, supported by a stronger rand and 10-year government yields falling below 9% for the first time since 2018. Softer inflation and recent rate cuts have further boosted confidence — marking a sharp turnaround for a market long held back by political uncertainty and power shortages.

Ghana — Africa’s top gold producer — has taken a more direct route to capture value from its gold output. The newly established GoldBod — a state gold-trading body launched in March — has generated roughly USD 8 bn in foreign exchange inflows by centralizing gold export proceeds and channeling them through the banking system, Reuters reported, citing Central Bank Governor Johnson Asiama. The Ghanaian cedi (GHS) has also surged about 38% this year, making it the world’s best-performing currency, according to Bloomberg.

While some analysts warn against overstating the impact of the metal’s rally, many see it as part of a broader rotation away from the USD. Countries such as Poland, Turkey, Uzbekistan, and Kazakhstan have been adding to their gold reserves. “The rally does benefit emerging markets more than developed markets. Emerging markets not only produce gold, they also hoard the metal,” said senior emerging-markets strategist at State Street Markets Ning Sun.

Gold’s meteoric rise is being powered by a mix of macroeconomic and geopolitical forces. Expectations of rate cuts from the US Federal Reserve have lowered the cost of holding non-yielding assets like gold, strengthening investor appetite, Reuters reported. Safe haven flows spurred by persistent geopolitical tensions — including renewed strains between the US and China — have intensified demand. Central banks have also played a pivotal role, continuing to diversify away from the USD and increase their bullion reserves, with surveys showing a growing preference for gold as a long-term store of value.

Reflecting these trends, HSBC raised its 2025 average gold price forecast to USD 3.4k per ounce last Wednesday, citing steady demand from institutional investors and official purchases seeking protection against volatility and currency weakness.

MARKETS THIS MORNING-

Asian markets are soaring this morning on bumper Hong Kong earnings and US trade optimism, with Hong Kong’s Hang Seng up 1.9% in early trading, while Japan’s Nikkei is up 1.5% and the Shanghai Composite is up 0.8%. Meanwhile, Wall Street futures are little changed following a broad rally yesterday.

TASI	11,645	-0.4% (YTD: -3.3%)
MSCI Tadawul 30	1,519	-0.2% (YTD: +0.6%)
NomuC	25,222	-1.0% (YTD: -19.9%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.75% repo	4.25% reverse repo
EGX30	37,975	+0.2% (YTD: +27.7%)
ADX	10,098	-0.3% (YTD: +7.2%)
DFM	5,955	-0.6% (YTD: +15.4%)
S&P 500	6,735	+1.1% (YTD: +14.5%)
FTSE 100	9,404	+0.5% (YTD: +15.1%)
Euro Stoxx 50	5,681	+1.3% (YTD: +16.0%)
Brent crude	USD 61.01	-0.5%
Natural gas (Nymex)	USD 3.42	+0.5%
Gold	USD 4,378	+0.4%
BTC	USD 110,599	+1.8% (YTD: +18.3%)
Sukuk/bond market index	921.08	0.0% (YTD: +2.1%)
S&P MENA Bond & Sukuk	151.76	+0.1% (YTD: +8.4%)
VIX (Volatility Index)	18.23	-12.3% (YTD: +5.1%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.4% yesterday on turnover of SAR 5.3 bn. The index is down 3.3% YTD.

In the green: SIDC (+4.8%), Enaya (+4.1%) and Cenomi Retail (+3.1%).

In the red: Chubb (-4.4%), Acwa Power (-3.7%) and Sumou (-3.7%).

THE CLOSING BELL: NOMU-

The NomuC fell 1.0% yesterday on turnover of SAR 29.9 mn. The index is down 19.9% YTD.

In the green: Jamjoom Fashion (+10.4%), Lana (+9.6%) and Alrasheed (+5.7%).

In the red: Naas Petrol (-9.3%), Mulkia (-7.5%) and NBM (-7.3%).

CALENDAR

25 September-19 December (Thursday - Friday) 2025 Saudi Toyota Championship.

28 September-1 January: Title deed registration for 54k properties in 77 neighborhoods across Riyadh, Makkah, and the Eastern Province.

OCTOBER

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

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

12 October-15 January 2026: Title deed registration for about 41.7k properties across 115 neighborhoods in Riyadh, Qassim, and the Eastern Province.

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

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

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

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

22 October (Wednesday): Construction Technology ConFex KSA (CTF KSA), Crowne Plaza Riyadh RDC Hotel, Riyadh.

22 October (Wednesday): Data Centre Technology ConFex (DCTC), Crowne Plaza Riyadh RDC Hotel, Riyadh.

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

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

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

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

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

27-30 October (Monday-Thursday): Future Investment Initiative (FII9), King Abdulaziz International Conference Center (KAICC) and the Ritz-Carlton, Riyadh.

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

28 October (Tuesday): The Middle East Industry Congress – HVACR Next Generation, InterContinental Durrat Al Riyadh Resort & Spa in Riyadh.

NOVEMBER

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

2-3 November (Sunday-Monday): The Forbes Middle East Women’s Summit, Fairmont Riyadh Hotel.

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

5-6 November (Wednesday-Thursday): The Digital Government Forum, JW Marriott Hotel in Riyadh

5-8 November (Wednesday-Saturday): Binam Forum 2025, Riyadh Front Exhibition and Conference Center.

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

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

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

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

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

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

16-17 November (Sunday-Monday): Jeddah Fintech Week 2025, Jeddah Hilton, Jeddah.

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

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

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

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

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

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

24-26 November (Monday-Wednesday): The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh.

24-26 November (Monday-Wednesday): Metropolis Madinah Conference for civilizational capitals, King Salman International Convention Centre (KSICC), Al Madinah.

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

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

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

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

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

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

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

DECEMBER

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

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

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

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

8-9 December (Monday-Tuesday): Digital Acceleration and Transformation Expo (DATE), JW Marriott hotel, Riyadh.

8-9 December (Monday-Tuesday): Climate Action and Renewable Energy (CARE), JW Marriott hotel, Riyadh.

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

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

16-17 December (Tuesday-Wednesday): Global Airports Forum (GAF) 2025, Riyadh International Convention and Exhibition Center, Riyadh.

25 December (Thursday): Deadline for title deed registration for 64.4k properties across neighborhoods in Madinah, Makkah, Riyadh, and the Eastern Province.

25-27 December (Saturday-Monday): The Fortune Global Forum 2025, Riyadh.

31 December (Wednesday): Zatca 22nd E-invoicing integration wave deadline.

31 December (Wednesday): Cancellation of Fines and Exemption of Financial Penalties Initiative by the Zakat, Tax and Customs Authority (Zatca) deadline.

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

2026

JANUARY

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

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

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

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

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

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

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

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

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

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

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

FEBRUARY

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

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

2-13 (Monday-Friday): 2026 Asian Road Cycling Championship and Paralympic Cycling, Qassim.

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

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

8-12 February (Sunday-Thursday): World Defense Show, Riyadh International Convention and Exhibition Center, Riyadh.

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

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

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

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

MARCH

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

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

APRIL

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

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

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

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

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

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

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

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

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

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

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

MAY

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

OCTOBER

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

Signposted to happen sometime in 2026:

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.
November: The Esports Nations Cup, Riyadh.
The Intervision international music competition will take place in Saudi Arabia.
6 July-23 August (Monday-Sunday): Esports World Cup, Riyadh.

Signposted to happen sometime in 2027:

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

Signposted to happen sometime in 2Q 2027:

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

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