Saudi is investing USD 100 bn in a minerals investment project

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Another season with Ronaldo for Al Nassr

Good morning, ladies and gentlemen, and happy THURSDAY. We’re wrapping up a busy week with another busy issue, led once again by big mining updates with the announcement of a USD 100 bn investment in a mining development push.

PLUS- We have good news on the inflation front, with the latest Gastat figures showing inflation cooled for the first time in four months in December.

AND– Google Pay is coming to Saudi this year: The Saudi Central Bank (Sama) and Google signed an agreement to bring Google Pay to the Kingdom this year, which will be facilitated through Mada Pay, according to a statement.

HAPPENING TODAY-

The FDI Regional Congress-SIDC kicks off today at the Riyadh International Convention and Exhibition Center. The three-day event will feature over 140 lectures by 112 Saudi and international speakers and 33 workshops to explore the latest advancements in dental technologies and services.

WEATHER- Riyadh will see a high of 23°C and a low of 6°C today, while Jeddah’s mercury will go as high as 33°C before tapering off to 23°C. Makkah’s weather will see a 34°C high and 22°C low.

WATCH THIS SPACE-

#1- Canada approved the USD 34 bn merger of crop traders Bunge and Viterra, imposing strict controls on Bunge’s minority stake in Saudi-owned grain company G3 to prevent any influence on G3’s pricing or investment decisions, Reuters reports. The approval also requires Bunge to divest six grain elevators in Western Canada and invest USD 362 mn in the country over the next five years. The agreement, expected to close in early 2025, will form a major global agricultural entity.

#2- Local and Gulf banks are in talks to finance 10-15% of the SAR 9 bn Hafar Al Batin Livestock City project, Aleqtisatiah reports, citing anonymous sources. The project, backed by Chinese investors and joint financing from the Agricultural and Industrial Development Funds, aims to produce 2 mn head of cattle annually and become a regional hub for red meat production. Future plans include launching seven similar cities across the Kingdom.

About the project: Once complete, the Hafar Al Batin Livestock City is set to be the largest of its kind in the Middle East. Spanning 11 mn sqm, it will cover 30% of Saudi Arabia’s red meat needs and will include feed factories, automated slaughterhouses, and a veterinary hospital powered by renewable energy. The city aims to produce 140k liters of milk, 100 tons of feed, and 1.5 mn meters of leather daily.

#3- PIF-backed aircraft leasing company AviLease is looking to ramp up its balance sheet to USD 20 bn by 2030, up from the current USD 8 bn, through M&A, buying individual planes, and placing large orders for aircraft, Reuters quotes Avilease CEO Ted O’Byrne as saying. O’Byrne expects Boeing and Airbus to get their supply issues in order within the next four years.

PSAs-

The Jazan Municipality launched 524 investment prospects on the Furas platform, including festival, entertainment and tourism events for the winter season, state news agency SPA reports.

SPORTS-

#1- Cristiano Ronaldo is staying with Al Nassr for another season and is reportedly being offered a “small” equity stake in the club as part of his EUR 183 mn contract extension, reports Marca. The Portuguese superstar’s contract is set to run out at the end of this season. The story also got ink from Mirror.

#2- Saudi-backed PFL eyes regional expansion: The Professional Fighters League (PFL), a mixed martial arts organization with significant backing from Saudi, is looking to broaden its footprint in the Middle East, with talks underway to host events in Dubai and Qatar, Bloomberg reports, citing PFL founder and Chairman Donn Davis.

Background: PIF’s sports investment arm Surj Sports Investment was a 50/50 partner with the PFL in its inaugural PFL Mena league, which launched in 2024.

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THE BIG STORY ABROAD-

One story is on every front page this morning: Israel and Hamas reached a ceasefire agreement that would pause the war on Gaza and see both sides exchange hostages starting Sunday and for six weeks. The agreement will unfold over three phases, with the first phase seeing the withdrawal of Israeli forces from populated areas of Gaza and a full ceasefire. (Reuters | AP | Bloomberg | FT | CNBC | WSJ | NYTimes)

Why now? While ceasefire negotiations have been happening on and off for over a year, the Financial Times claims that president-elect Donald Trump’s threat that there would be “hell to pay” if he took office before the release of the Israeli hostages held in Gaza “injected renewed momentum into the long-stalled talks.”

What’s next? The AP dives into what the agreement means for Israel, Hamas, and the region.

CIRCLE YOUR CALENDAR-

#1- The three-day Real Estate Future Forum kicks off on 27 January at the Four Seasons, Riyadh.

#2-LEAP 2025 will take place between 9-12 February at the Riyadh Exhibition & Convention Center in Malham. The tech event will bring together over 1.8k global tech brands, 1k experts and some 680 startups. LEAP 2025 will feature over 300 hours of content across 17 tracks, covering AI, fintech, edtech, smart cities, and more. Co-located with LEAP is DeepFest, a major AI-focused event bringing thought leaders and innovators under one roof.

#3- The eight-day Big 5 Construct Saudi will take place from 15-18 February and 24-27 February at the Riyadh Front Exhibition & Conference Center. The Kingdom’s largest construction event will feature over 2k exhibitors from more than 60 countries, showcasing innovations across the sector. The event is expected to attract over 75k participants.

#4- The UFC returns to the Kingdom on 1 February, kicking off its 2025 collaboration with Riyadh Season, according to Forbes. The main event will see former middleweight champion Israel Adesanya face Nassourdine Imavov. Adesanya, on a two-fight losing streak, needs a win to remain in title contention, while Imavov enters with a four-fight winning streak.The co-main event will see Shara Magomedov square off with Michael “Venom” Page. The card also includes several ranked fighters, with matchups spanning multiple divisions. Full card here.

#5- The Formula One 2025 Saudi Arabian Grand Prix will kick off on 20 April, featuring 50 laps at the 6.174-km Jeddah Corniche Circuit. Tickets are available here.

Going “fast and furious” with USD 100 bn mining push

Saudi Arabia is developing a USD 100 bn mineral investment project, including USD 20 bn that is currently underway, Industry and Mineral Resources Vice Minister Khalid Al Mudaifer said at the Future Minerals Forum in Riyadh yesterday, according to CNBC. The vice minister did not disclose further details on the project.

The investment is part of a “fast and furious” push to deepen the Kingdom’s mining footprint and position itself as a global mining hub, Energy Minister Abdulaziz bin Salman said at the forum.

ALSO- Aramco and Ma’aden signed a non-binding heads of agreement to form a lithium extraction JV by 2027 to advance direct lithium extraction technologies, Aramco said in a statement. Aramco said it identified areas within its operations where lithium concentrations exceed 400 parts per mn. This story was also covered by Bloomberg.

REMEMBER- The Kingdom increased its estimate of unexploited mineral resources to USD 2.5 tn, driven by discoveries of rare earth elements and metals such as lithium, copper, and gold. To accelerate critical minerals development, it has introduced a USD 182 mn incentive program for exploration.

IN OTHER MINING NEWS-

Aramco plans to ramp up its investments in lithium production, the Financial Times reports, citing three sources it says are in the know.

IN CONTEXT- Global demand for lithium is projected to rise 7x by 2040 on the back of growing appetite for EVs, according to the International Energy Association’s projections. While China dominates two-thirds of the lithium processing market, “Saudi Arabia is very well positioned in processing because of the mixture that we have, starting from energy competitiveness, great infrastructure in terms of industrial cities and ports,” Industry and Mineral Resources Minister Bandar Alkhorayef told the salmon-colored paper. However, Saudi Arabia has yet to establish a significant presence in lithium or battery raw materials, Benchmark Mineral Intelligence says.

The fix? Analysts suggest vertical integration — controlling the entire supply chain from extraction to sales — would help Saudi Arabia’s lithium ambitions to succeed.

REMEMBER- Al Khorayef said in April that the Kingdom will continue to source lithium from abroad as part of its plans for the nascent EV sector, as securing domestic supplies was still at an early stage. Meanwhile, Canada-based NextSource Materials is screening interested investors for a proposed USD 280 mn battery anode plant in Saudi Arabia, it said back in June.

AND- Aramco + Kaust are working on lithium extraction plans: Aramco and King Abdullah University for Science and Technology (Kaust), and Ma’aden are developing a pilot project that tests and develops lithium extraction methods, according to Reuters. Kaust’s startup, Lithium Infinity (Lihytech) is leading technical efforts and R&D. Al Khorayef described the project as “promising but not yet commercially viable.”

Inflation cools off in December for the first time in four months

Inflation eased slightly to 1.9% y-o-y in December 2024, down from November’s high of 2%, according to the General Authority for Statistics’ (Gastat) latest consumer price index (pdf). This marks the first month of decline since August, ending a four-month upward trend. On a monthly basis, consumer prices remained basically unchanged, despite a 0.5% uptick in the housing, water, electricity, gas, and other fuels category. Gastat’s full report on December’s average prices of goods and services is available here (pdf).

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Rising rents continue to prop up housing costs: The heaviest component in the Saudi consumer basket — housing, water, electricity, gas and other fuels — recorded an 8.9% y-o-y increase, primarily driven by a 10.6% y-o-y increase in home rentals, in addition to a 9.9% increase in villa rentals.

Food bills are also on the up: A 2.9% y-o-y increase in meat and poultry prices drove food and beverage prices up by 0.8% in December. Restaurants and hotels were up 0.9% on the back of a 2.3% y-o-y increase in the cost of hotel and furnished apartment services.

Also feeling the pinch: Education recorded a 1.1% y-o-y increase in prices on the back of a 1.8% rise in intermediate and secondary education fees. Jewelry and watches, among other precious antiques, were up 20.2% y-o-y, pushing the price of personal goods and service up by 2.2%.

Cooling off: Furnishing and home equipment prices fell 2.8% y-o-y in December, driven by a 5.1% drop in furniture, carpets, and flooring prices. Similarly, clothing and footwear saw a 2.2% drop, with ready-made clothing prices dipping 4.2%. Transportation costs were down 2.5%, as vehicle purchase prices saw a 3.9% decrease.

IN CONTEXT- Inflation in the Kingdom has stayed comparatively tame relative to global trends, Reuters reports, with the IMF projecting it will hold steady at 1.9% and 2.0% this year and the next. December’s reading falls slightly above the 1.7% clip the Finance Ministry had penciled in for 2024.

THE YEAR IN REVIEW- Housing costs, particularly rents, were the primary driver of Saudi’s annual inflation rate throughout 2024. Inflation kicked off the year at 1.6% in January before accelerating to 1.8% in February, and dipping back to 1.6% in March through to May. The rate decelerated slightly to 1.5% in June and July — the slowest growth rate of the year — before picking up in August at 1.6% and September at 1.7%. The highest inflation rate of the year was recorded in November at 2%, topping October’s earlier peak of 1.9%.

WHOLESALE PRICE INDEX-

Producer prices were up 1.2% y-o-y in December 2024, on the back of a 12% increase in the prices of refined petroleum products, according to Gastat’s wholesale price index (pdf). Meanwhile, December’s wholesale prices were up 0.2% m-o-m.

Al Rajhi Bank + Banque Saudi Fransi wrap up AT1 sukuk offerings totaling USD 2.25 bn

A good day for sukuk: Al Rajhi Bank and Banque Saudi Fransi completed their additional tier 1 (AT1) USD-denominated sukuk issuances, both announced earlier this week, totaling USD 2.25 bn.

#1- Al Rajhi Bank closed its USD 1.5 bn sukuk offering yesterday, it said in a disclosure to Tadawul. The offering saw 7.5k sukuk sold at a 6.25% annual return, with a USD 200k buy-in minimum. Subscriptions kicked off on 14 January and wrapped up yesterday, with settlement scheduled for Tuesday, 21 January.

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More on the offering: The offering is perpetual, meaning there is no fixed maturity date. However, the sukuk are callable after five years under specific terms defined in the terms sheet. Proceeds from the sale will bolster the bank’s financial base and support initiatives under its Sustainable Finance Framework.

ADVISORS- Our friends at HSBC and Mashreq are joint lead managers and bookrunners on the transaction, along with JPMorgan Securities, Morgan Stanley, Al Rajhi Capital, Citigroup Global, Emirates NBD, Goldman Sachs, Dubai Islamic Bank, Credit Agricole, MUFG Securities EMEA, SMBC Bank International and Standard Chartered Bank.

IN OTHER DEBT NEWS-

#2- Banque Saudi Fransi completed its USD 750 mn sukuk offering, it said in a disclosure to Tadawul. The sale consisted of 3.75k sukuk, each valued at USD 200k. The certificates have an annual return of 5.375% and a five-year tenor, but may be redeemed prior to that date under terms. Settlement took place yesterday.

ADVISORS- Our friends at HSBC were appointed as global coordinator for the issuance, while Mashreq, Abu Dhabi Commercial Bank, Citigroup Global, Crédit Agricole Corporate and Investment Bank, Emirates NBD, Goldman Sachs, the Islamic Corporation for the Development of the Private Sector, Mizuho International, SMBC Bank International, and Saudi Fransi Capital were selected as joint lead managers.

Itmam Consulting sets Nomu IPO price at SAR 15 per share

Itmam Consulting priced its Nomu IPO at SAR 15 per share, after the subscription period for qualified investors closed out with a 2.3x oversubscription rate, the financial advisor on the transaction Yaqeen Capital said in a disclosure to Tadawul. The final pricing sees the firm locking in some SAR 45 mn in proceeds, giving it a market cap of around SAR 315 mn at listing, according to EnterpriseAM calculations.

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What’s next? Yaqeen Capital will finalize the remaining procedures with the Saudi Exchange and confirm Itmam’s listing date on Nomu.

BACKGROUND- The Riyadh-based consulting firm is offering a 14.3% stake on Tadawul’s parallel market — good for 3 mn shares, 1 mn of which are newly issued. Net proceeds from the offering will fund working capital to support expansion plans, after allocating SAR 3 mn to cover offering expenses. Itmam’s seven major shareholders will see their ownership diluted to a combined 80.6%, down from their current 94%, and will be subject to a 12-month lock-up period beginning from the first day of trading.

ADVISORS- Yaqeen Capital is quarterbacking the transaction as lead manager and financial advisor, while RSM acts as a legal accountant. Receiving agents include Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, and Riyadh Capital, among others.

Saudi ranks 2nd in MENA for e-commerce maturity, 26th globally -BMI

Saudi Arabia ranked second out of seven MENA countries tracked by the E-Commerce Maturity Index, and 26th out of 75 countries globally, according to a report by Fitch Solutions’ market research arm BMI. The firm sees domestic e-commerce spending growing at an annual rate of 10.6% over the next four years, to reach USD 24.5 bn by the end of 2029, with its share of total consumer spending rising to 3.6% in 2025, and reaching 4.1% by 2029.

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Online shopping is running hot: BMI sees Saudi households spending a total of USD 17 bn via e-commerce channels this year, marking a projected 9.6% y-o-y growth. That is nearly two times faster than the expected growth in broader household spending (+5.7% y-o-y) over the same period.

The drivers: The score places the Kingdom ahead of its regional peers, largely thanks to its youthful population, urban density, rapid internet penetration and widespread smartphone usage. Almost 30% of the population is between the ages of 20 and 39, which will be a key factor in the market’s digital adoption, BMI said. Additionally, projected improvements in payment systems, internet connectivity, and the proliferation of 4G and 5G networks are expected to boost the Kingdom’s digital infrastructure.

BUT- Some regulatory challenges continue to set the Saudi market below the global average level of industry risks, such as intellectual property issues, complex import and advertising laws. “Although improvements have been forthcoming, it still remains a barrier,” the report notes.

THE METHODOLOGY- BMI’s E-commerce Maturity Index looks at a number of factors within a market, including internet connectivity, smartphone usage, disposable income levels, demographics and regulatory frameworks to determine a country’s readiness and potential for e-commerce growth.

Saudi startups raised a combined USD 30 mn in December

Saudi-based startups raised a combined USD 30 mn across 11 companies in December, down from USD 50 mn in November, putting the Kingdom in second place in the Mena region following the UAE, which raised a combined USD 217 mn across 18 transactions, according to data compiled by Wamda and Digital Digest.

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A snapshot of December funding rounds: AI infrastructure provider OmniOps secured SAR 30 mn in a funding round led by GMS Capital Ventures. Edtech startup Aanaab raised USD 7 mn in a Series A round backed by Jeddah-based Dallah Investment Holding. Additionally, private tutoring platform AlGooru closed a USD 4 mn pre-series A round, led by Singapore’s Constructor Capital, with participation from Abu Dhabi’s Hub71, angel investors, and family offices.

REGIONALLY- The Mena startup ecosystem saw a 76% y-o-y decline in December 2024, raising USD 279 mn across 42 transactions. Debt financing accounted for 44% of the total. Meanwhile, fintech reclaimed its position as the most funded sector, with USD 93.5 mn raised across seven transactions.

New CEOs at Raydan Food + Wafrah

Tadawul-listed Raydan Food Company appointed Khalil Camille Aboufadel as its new CEO, according to a disclosure to Tadawul. Aboufadel boasts 24 years of experience in FMCG across the MENA region. He has previously held leadership posts at Al Ghazawi Group, Consulting Office, Burger King, Kout Food Group, Pizza Hut, and Applebee’s.

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Food processor and producer Wafrah for Industry and Development tapped Abdullah Mohamed A Shehri as its new CEO, effective Saturday, 1 February, the Tadawul-listed company said in a filing to the exchange.

Ma’aden lands upon gold, copper in three mining sites

MINING-

#1- Ma’aden hits gold and copper: Saudi Arabian Mining (Ma’aden) found high-grade mineralization at its Mansourah Massarah gold mine extending 220 meters below the deepest point of its open pits, as well as broad zones of gold mineralization at its Wadi Al Jaww mine, and gold and copper mineralization at its Jabal Shayban mine, it said in separate filings to the exchange (here and here).

REMEMBER- Ma’aden started full operations at the Mansourah Massarah mine, the Kingdom’s largest gold mine, in 1Q 2024, with an estimated annual production capacity of 250k ounces of gold.

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#2- The Saudi Industry and Mineral Resources Ministry signed five partnership agreements with the governments of France, Austria, Jordan, Djibouti, and Zambia to boost cooperation in the mining sector, according to separate posts on X. This took place on the sidelines of the Future Minerals Forum.

MANUFACTURING-

Aramco inked an MoU with Indian conglomerate Welspun Corp to set up an LSAW pipe factory in Dammam, Welspun said in a regulatory filing (pdf) to the National Stock Exchange of India. The new plant, slated to begin operations in mid-2026, will have a production capacity of 350k MT of pipes per year.

ALSO- Modon + Aramco ink localization MoU: Aramco signed an MoU with Modon during the In-Kingdom Total Value Add (IKTVA) Forum to localize energy sector supply chains and increase local content in the oil and gas industries, according to a third post.

LOGISTICS-

Aramco-DHL JV lands a 15-year warehousing agreement with Aramco: Advanced Supply Management Operations (better known as ASMO), a JV between Aramco and DHL, signed a 15-year agreement with Aramco to manage procurement and logistics services for the oil giant, including demand planning, inventory management, warehousing, and access to a B2B e-marketplace, according to a press release. This comes just as ASMO launched its first warehouse in Riyadh.

REMEMBER- The JV locked in SAR 300 mn (USD 81 mn) in agreements with Aramco Digital, SAP, and Oracle to “digitalize and advance the transformation of the supply chain and procurement landscape.” It also signed MoUs targeting energy, chemicals, refining, healthcare, and aviation to boost Saudi Arabia’s supply chain sector.

HEALTHCARE-

PIF’s investment firm Sanabil Investments partnered with healthcare venture builder Redesign Health to back the launch of at least 20 healthcare companies via their newly-launched Venture Studio by Redesign Health, according to a press release.

DEBT WATCH-

#1- Keir International lined up a SAR 50 mn shariah-compliant loan with the Arab National Bank, according to a disclosure to Tadawul. The one-year facility will go towards financing Keir’s projects, as well as the issuance of bank guarantees and letters of credit.

#2- Saudi Networkers Services renewed a SAR 40 mn shariah-compliant credit facility with Saudi Awwal Bank, according to a disclosure to Tadawul. The facility runs until 5 December, 2025 and will finance the company’s working capital.

ART-

Auction house Sotheby’s gears up to host its first-ever auction in Saudi Arabia on 8 February in Diriyah, Art News reports. The auction, titled Origins, will feature around 100 lots, including artworks by Pablo Picasso, Andy Warhol, and Wassily Kandinsky, along with rare watches, jewelry, sports memorabilia.

BUSINESS-

UK-born construction consultancy Rider Levett Bucknall (RLB) inaugurated its regional headquarters in Riyadh, according to Arab New s. RLB has operated in the Kingdom for 40 years, working on infrastructure projects across residential, commercial, healthcare, and educational sectors. RLB specializes in construction, property, and management services, offering expertise in cost management, project programming, and advisory services.

Crypto hedge funds fell short of BTC’s 120% rally in 2024

Crypto hedge funds underperform BTC in 2024 despite strong returns: While 2024 was a strong year for crypto, with BTC surging 120% to exceed USD 100k, crypto-focused hedge funds gained just 40%, struggling to keep up with BTC’s pace, Bloomberg says, citing data from the VisionTrack Composite Index.

The year saw significant volatility, with crypto funds facing 20-30% drawdowns in spring and summer. However, most gains occurred in the final quarter, fueled by improved sentiment and the election of crypto-friendly US president-elect Donald Trump, which propelled BTC to fresh highs.

Crypto hedge funds faced stiff competition from low-fee, BTC-focused ETFs, which offered investors a cost-effective alternative to high-fee fund strategies. BTC and memecoins dominated the market, leaving little room for other digital assets to compete, Reflexive Capital CIO David Kalk noted.

Hedge funds struggled with timing BTC’s performance due to their need to manage risk-sensitive drawdowns. “In the hedge fund world, drawdowns are quite sensitive and so you can’t just always be fully exposed long,” Tread.fi CEO David Jeong said to Bloomberg.

Best performing strategies and leading funds: Directional and quantitative strategies led the way in 2024. The VisionTrack Quant Directional Index rose 53.7%, while Galaxy Digital’s Alpha Liquid Fund gained 76.6%. ProChain Master Fund achieved a 70% return by focusing on large-cap tokens like Bitcoin, outperforming altcoin-centric funds. Fundamental research funds — which rely on research in tokens and blockchains — also performed well in general, as US-based Reflexive Capital posted 106% net returns.

MARKETS THIS MORNING-

Asian markets rallied this morning, driven by Wall Street gains and South Korea’s decision to keep rates unchanged. Hang Seng (Hong Kong) rose 0.9%, while Shanghai Composite and Japan’s Nikkei both saw a 0.3% rise. Meanwhile, Wall Street futures inched slightly higher, after the best S&P performance since November.

TASI	12,212	+0.3% (YTD: +1.5%)
MSCI Tadawul 30	1,527	+0.6% (YTD: +1.2%)
NomuC	31,300	-0.1% (YTD: -0.6%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	29,390	+1.5% (YTD: -1.2%)
ADX	9513	+0.2% (YTD: +1.0%)
DFM	5251	+0.1% (YTD: +1.8%)
S&P 500	5950	+1.8% (YTD: +1.2%)
FTSE 100	8301	+1.2% (YTD: +1.6%)
Euro Stoxx 50	5032	+1.0% (YTD: +2.8%)
Brent crude	USD 82.03	+2.6%
Natural gas (Nymex)	USD 4.11	+0.5%
Gold	USD 2720.80	+1.4%
BTC	USD 99,659.60	+3.3% (YTD: +6.6%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.3% yesterday on turnover of SAR 7.2 bn. The index is up 1.5% YTD.

In the green: Nice One (+9.9%), Marafiq (+5.8%) and Budget Saudi (+4.9%).

In the red: Astra Industrial (-5.5%), Saudi Re (-3.5%) and Riyadh Cables (-3.1%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.1% yesterday on turnover of SAR 50 mn. The index is down 0.6% YTD.

In the green: Lana (+15.3%), Rawasi (+11.9%) and Alhasoob (+9.7%).

In the red: Alrazi (-6.2%), Quara (-5.8%) and Multi Business (-5.7%).

CALENDAR

JANUARY 2025

1-17 January (Wednesday-Friday): 2025 Dakar, Bisha and Shubaytah.

18 January (Saturday): Deadline for companies to amend status under the New Companies Law.

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.

24-25 January (Friday-Saturday): UIM E1 World Championship Jeddah, Jeddah.

25 January (Saturday): The opening of the 2025 Islamic Arts Biennale, Western Hajj Terminal of King Abdulaziz International Airport, Jeddah

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.

31 January (Friday): Deadline for businesses to update their registered customs items.

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

FEBRUARY 2025

1 February (Saturday): UFC Fight Night: Adesanya vs Imavov, The Venue, Riyadh.

2 February (Sunday): Flyadeal launches direct flights to Karachi, Pakistan, departing from Riyadh and Jeddah twice a week.

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.

18 February (Tuesday): The Capital Markets Forum, KAFD Conference Centre, Riyadh.

19-20 February (Wednesday-Thursday): The Capital Markets Forum, The Four Seasons, Riyadh.

19 February (Wednesday): Derayah REIT dividend distribution.

19-21 February (Wednesday-Friday): Saudi Media Forum, Riyadh.

21-22 February (Friday-Saturday): The Saudi Cup, Riyadh.

22 February (Saturday): Founding Day.

22 February (Saturday): Dazn Boxing event: Beterbiev vs Bivol II, Riyadh.

23-27 February (Sunday-Thursday): Riyadh International Disputes Week, Hilton Riyadh Hotel Granada.

24-25 February (Monday-Tuesday): The Riyadh International Humanitarian Forum, Riyadh.

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

7-9 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh.

3-20 April (Thursday-Sunday): AFC Asian U17 Cup.

14-16 April (Monday-Wednesday): Future Hospitality Summit, Mandarin Oriental Al Faisaliah, Riyadh.

18-20 April (Friday-Sunday): Saudi Arabian Grand Prix, Jeddah,

21-24 April (Monday-Thursday): Saudi Food Exhibition and Conference, Riyadh.

22-23 April (Tuesday-Wednesday): AAM Middle East, Riyadh.

25 April- 4 May (Friday-Sunday): AFC Champions League Elite Finals

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.

AUGUST 2025

5-17 August (Tuesday-Sunday): Fiba Asian Cup.

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

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

24-26 November (Monday-Wednesday) The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh Front Convention & Exhibition Centre, Riyadh.

27-30 November (Thursday-Sunday): The World Rally Championship (WRC), Jeddah.

DECEMBER 2025

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

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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