Stadium buildout continues in run-up to 2034 World Cup

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Saudi delegation in Ankara as GCC and Turkey kick off trade talks

Good morning, friends. We have a workaday issue for you this morning — there’s nothing unremarkable in the headlines as we inch toward the 2034 World Cup, look to close in on lithium from Chile, join regional trade talks with Turkey, and mull the growth potential of the Kingdom’s food delivery industry.

UP FIRST- Saudi Arabia is particularly interested in importing lithium from Chile, Mining and Industry Minister Bandar Al Khorayef said yesterday while on the Chilean leg of a long tour through South America. Chile’s industry is attractive because there are players of all sizes in the lithium market, which Saudi is hoping to tap as we continue our push into renewable energy and the electric vehicle industry.

The Kingdom is also interested in exporting fertilizers to “bolster Chile’s farming activities and food security,” Bloomberg writes. Reuters also has the story.

HAPPENING THIS WEEK-

#1- The GCC and Turkey are laying the groundwork for a trade agreement, with the first round of talks kicking off yesterday in Ankara, state news agency SPA reports. Negotiators will keep at it today and tomorrow before taking a breather. Representatives from the Saudi ministries of investment, economy, industry, energy, and environment are in Turkey for the talks.

What’s the timeline? We’ve seen no official guidance on how long talks could last beyond this week, but trade agreements are never pulled together quickly.

BACKGROUND- The two sides said in March that they were looking to liberalize trade “in goods and services, facilitate investment and trade, and increase [Turkey’s] trade with the region.”

The hometown angle: The Kingdom accounted for 25% of Turkey’s imports from the GCC in April 2024 with Saudi exports valued at USD 201.6 mn. That’s down 33% from USD 301 mn in April of last year. Saudi’s imports from Turkey were up 44% y-o-y to USD 297.6 mn in April.

#2- A Saudi-Korean business forum got underway yesterday in Seoul, featuring a delegation of 55 executives from local government and private companies led by Commerce Minister Majid Abdullah Al-Qasabi, SPA reports. The minister met separately with Korean Prime Minister Han Duck-soo, the country’s minister of SMEs and startups, and the CEO of Naver, South Korea's largest internet company. The visit wraps up tomorrow.

Are you planning to be in Egypt on 24 September? You may be interested in attending our 2024 Enterprise Finance Forum. Seating is strictly limited at our flagship, invitation-only forum for C-suite executives and other senior leaders.

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WATCH THIS SPACE-

Saudi Electricity Company fires four senior staff for negligence resulting in power outage: The Saudi Electricity Company’s board of directors agreed to dismiss its executive vice president of generation and three other managers after an investigation into a power outage in Sharurah concluded the incident was caused by a faulty breaker due to poor maintenance and malfunctioning protection devices, according to state news agency SPA. The board also signed off on technical fixes, maintenance, and protection device reviews to address the issues that caused the outage.

BACKGROUND- On 12 July, a power outage in Sharurah — a town in Najran, near the Yemen border — led to a total service failure and prompted the company to offer residents SAR 2k each in compensation and launch an investigation.

DATA POINTS-

Some 20 new mining licenses were issued in May 2024 by the Industry and Mineral Resources Ministry (14 for building materials quarries and six for exploration), the ministry said in a post on X.

BACKGROUND- Saudi is ramping up investment in mineral exploration: The Industry and Mineral Resources Ministry unveiled earlier this year a fresh incentives package worth SAR 685 mn to boost mineral exploration in the Kingdom. The program was rolled out in collaboration with the Investment Ministry and aims to reduce early-stage risk for exploration companies. It comes as part of efforts to expand the sector and tap reserves of gold, phosphate and others. The nation’s untapped mineral resources are now worth as much as USD 2.5 tn, or 90% more than the last forecast in 2016, officials said earlier in January.

SPORTS-

#1- M&A WATCH- PIF-owned Newcastle United is now valued at USD 1.3 bn after the PIF raised its stake to 85%, reports Bloomberg, after the fund bought former owner Amanda Staveley’s stake.

Background: The club said earlier this month that the PIF and RB Sports and Media were set to raise their ownership of Newcastle United after the exit of Amanda Staveley and her firm, PCP Capital Partners. The new structure sees the fund hold 85% stake, with RB Sports and Media holding the remaining 15%. The transfer of ownership was expected to be completed this month.

#2- Spanish pro-golfer Jon Rahm clinched his first Liv Golf UK title on Sunday, AP reports. Rahm, who joined Liv in December 2023, is one of seven Liv players hitting the pitch at the Olympics next week, it added.

#3- The Saudi Arabian Football Federation’s women’s teams program will get SAR 10 mn more to spend as it looks to deploy SAR 60 mn for the 2024-2025 season, according to a press release. SAFF will use the funds to increase the number of women’s competitions, create new teams, develop the different age groups in clubs, and enhance overall organizational and technical performance. Some 70 clubs are participating this time around, up from 34.

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THE BIG STORY ABROAD-

It’s another day dominated by politics, with little business news of which to take note.

Venezuela is getting prominent play on front pages this morning after longtime president Nicolás Maduro claimed victory despite the opposition candidate Edmundo González having had the lead in most polls and exit surveys. Venezuelans took to the streets in protest and a number of countries are expressing concern, the Financial Times reports.

The US is cautioning Israel against striking Lebanon’s capital or any major infrastructure following the strike on Golan Heights, Reuters reports. Airlines including Lufthansa, Aegean, and Air France have stopped flights to Lebanon, Bloomberg.

In business news, a single AI story and the first slump in Mcdonald’s sales since 2020 are getting attention.

The AI story in question? Apple revealed in a research paper that it has been using Google’s chips to build and train its new AI software infrastructure, the first real dent in the armor of Nvidia, which has an 80% share of the AI chip market, Reuters reports.

OLYMPICS-

It’s a relatively quiet day in the Olympics, with the highlight being rowing, tennis, and lots of rugby sevens. The men’s triathlon is also scheduled to take place today.

In tennis yesterday: Spain’s Rafael Nadal exited the tournament, losing to Serbia’s Novak Djokovic. The Olympics’ website has the rundown on the big names that have made it through to the third round of the men’s and women’s singles.

Surfing also made headlines in Tahiti’s Teahupo’o — also known as the End of the Road, as it is seen as one of the most deadly surfing spots in the world due to the size of its waves and the large, shallow reef at its bottom. The third round of surfing saw favorites exit the competition after a brutal set of eight heats in which two riders went head-to-head, with only one advancing from each run.

The medal standings now at the Paris Olympics:

Japan (6 gold, 12 overall)
France (5 gold, 16 overall)
China (5 gold, 12 overall)
Australia (5 gold, 9 overall)
South Korea (5 gold, 9 overall)

But Enterprise, US media says Amreeka is at the top of the table… US athletes have so far taken home more hardware (20 medals overall vs 16 for France), but the Olympics themselves ranks countries by the number of golds a country has picked up — not by total medal count.

Want to see when your favorite sport is on? Check out the official schedule here.

CIRCLE YOUR CALENDAR-

The Crawford vs Madrimov boxing showdown will take place on Saturday, 3 August at the Los Angeles BMO Stadium. The event is the highlight of the Los Angeles Riyadh Season Card which features five other bouts. You can check them out here.

Aramco is set to release its 1H 2024 results on Tuesday, 6 August, according to its website. You can tune into the audio webcast of its earnings call here. The oil giant’s net income dipped a bit more than 14% in 1Q 2024 to SAR 102.3 bn.

Small and medium enterprises regulator Monsha’at will hold a franchise tour of five cities on 12-13 August (Monday and Tuesday). The tour, which starts in Khobar and includes stops in Abha, Qassim, Hail and Jeddah, will showcase success stories in the sector. The tour then picks up with seven stops scheduled for an installment next year.

Cybersecurity training event SANS Riyadh Cyber Leaders August 2024 will run from Sunday, 18 August to Thursday, 22 August at the Hyatt Regency Riyadh Olaya.

The eight-week Esports World Cup runs until Sunday, 25 August Riyadh’s Boulevard City. The world’s top esports clubs are competing for a pool of USD 60 mn — the largest purse in esports.

The two-day Middle East LPG Expo - Saudi Arabia 2024 will open on Tuesday, 10 September, bringing together upwards of 4k liquified petroleum gas (LPG) experts to discuss the future of the fuel gas in clean energy. Saudi accounts for 50% of demand for LPF in the Middle East and Africa.

The TotalEnergies CAF Super Cup Final 2024 between Egyptian rivals Al Ahly and Zamalek will be held in Riyadh on Friday, 27 September. The venue and kick-off time of the match will be announced at a later date.

This year’s edition of security-focused expo Intersec Saudi Arabia will run from Tuesday, 1 October to Thursday, 3 October at the Riyadh International Convention and Exhibition Center.

International food and beverage expo InFlavour is returning to Riyadh on Tuesday, 1 October. The three-day event — which will be organized in collaboration with the Environment, Water and Agriculture Minister, Tahaluf, Pepsico, Al Rabie, Arasco and Nadec — will take place in Riyadh’s Front Exhibition and Conference Center.

Riyadh is getting a new flagship stadium as Mohammed bin Salman endorses 2034 World Cup bid

There’s a new 92k-seat stadium coming to town: The Royal Commission for Riyadh City and the Sports Ministry unveiled plans for a new 92k-seat sports stadium named King Salman Stadium, according to a statement. The news came as Crown Prince Mohammed bin Salman endorsed Saudi’s bid to host the 2034 World Cup, according to state news agency SPA.

About the new King Salman stadium: The stadium, located in north Riyadh on King Salman Road, and next to King Abdul Aziz Park, will span some 660k sqm and include a 120-seat Royal Box and ample VIP seating, in addition to rooftop walkways, large screens, and gardens. Aside from shopping and recreational facilities, the stadium’s premises will also include some 360k sqm of additional sports facilities, including an Olympic swimming pool, training fields, an athletic track, and others. Construction is slated to wrap in 4Q 2029.

IN CONTEXT- Saudi is now the sole bidder for the World Cup in 2034 (check out the bid website here) after Australia said late last fall it wouldn’t pursue the tournament The Kingdom is set to submit its letter of intent to FIFA later this year at a ceremony in Paris, with result of the bid to be announced in December. The Kingdom has been building out football infrastructure, including recently announced plans for the 45k-seat Mohammed bin Salman Stadium in Qiddiya, as well as the 45k-seat New Murabba Stadium in Riyadh.

Going green: The stadium will feature some 96.5k sqm of green walls and roofs and will be constructed in line with sustainable and green building guidelines. The facility will also host a sustainable cooling system for seating and floors.

The Kingdom’s food delivery market is forecast to be worth nearly USD 15 bn by 2028

The Kingdom’s food delivery market is projected to be worth as much as USD 14.9 bn by 2028, up from USD 10 bn in 2023, as the number of food delivery startups in the country continues to grow, according to a report by Entrepreneur Middle East. Despite the market being dominated by meal deliveries, grocery deliveries services are gaining ground due to new options and changing consumer tastes, the report shows.

How the market is looking right now: Meal deliveries currently account for some 88% of the local market, the report shows. The segment is projected to reach USD 12.1 bn by 2028, at a compound annual growth rate (CAGR) of 6.4%, with the relatively slow rate attributed to market maturity following a pandemic-era boom. On the flip side, although currently smaller, the grocery segment is expected to grow at a sharper 18.2% CAGR, growing to USD 2.8 bn in value by 2028.

Who is leading the market? HungerStation has been in the market since 2012 and held the largest market share in 2023. The app has upwards of 40 mn downloads and exclusive partnerships with a number of food outlets. Jahez, meanwhile, is is looking to make the move to Tadawul’s main market (it’s currently listed on Nomu, the parallel market). Jahez recorded gross order value of c. SAR 7 bn last year and generated gross revenues of SAR 1.9 bn with 3.5 mn active users serving 38k merchant branches, according to its 2023 results presentation (pdf).

The Kingdom’s food delivery market is the region’s largest, surpassing the UAE on the back of a population that is 3.8x larger. Despite this, the UAE has a much higher grocery delivery penetration rate. Saudi Arabia also leads the region in terms of average revenue per user (ARPU) on meal deliveries, which is forecasted at USD 627 for 2024 — around 68% higher than in the UAE and more than 2,100% higher than in Egypt. Meanwhile, the Kingdom’s forecasted ARPU for grocery deliveries in 2024 stands at USD 162.50, less than half the UAE’s USD 335.3.

Local food delivery startups raised a total of USD 266.2 mn in the five years up to 2023, through venture capital, IPOs, and acquisitions, the report said. Delivery startups raked in a combined USD 56.6 mn in funding in 2020, accounting for some 94% of all foodtech funding. This proportion see-sawed over the following years, dropping to 5% in 2021 (USD 2.9 mn), before scaling back up to 85% by 2023 (USD 134.8 mn).

Velents AI secures undisclosed amount in women-led investment round

Saudi-based SaaS provider Velents AI has secured an undisclosed amount in an investment round led by Women Collective, according to a press release. Over 80% of the funding came from women investors, including six first-time angel investors.

Where the money is going: Velents will use the investment to support its operations and continue working on “transforming workplace dynamics and efficiency.” Velents’ flagship product, Velents Hiring, automates the hiring process from resume screening to interviewing and selection.

About Velents: Founded in 2020, Velents is an HR-focused, AI-powered platform that streamlines hiring, recruitment, and assessment processes to limit bias and reduce hiring costs by 80%. Velents’ portfolio of clients includes Saudi Aramco, Saudi Telecom Company, Raya Customer Experience, and Siemens Healthineers. The startup closed a seed round for an undisclosed amount in December 2023. The round was led by A15 and saw participation from Nibras Capital, AUC Venture Lab, and local investors.

Knowledge Economic City taps new chair + vice chair

Knowledge Economic City appointed Amin Mohammad Shaker as chairman and Majed Helal Al Anazi (Linkedin) as vice chairman of its board, it said in a disclosure to Tadawul. Both will hold the positions for a four-year term that runs until 27 July, 2028. Al Anzi was previously the head of trade finance at Arab National Bank and Alinma Bank, as well as VP of trade finance at JP Morgan Chase.

Saudi Kayan Petrochemical cuts losses in 2Q, despite a dip in revenues

Saudi Kayan Petrochemical narrowed its losses in 2Q 2024 to SAR 250.1 mn from SAR 392 mn in 2Q 2023, with revenues declining 4.6% y-o-y to SAR 2.1 bn, it said in its earnings release (pdf). The company’s narrowing losses come on the back of higher sales prices and the collection of a partial ins. payment of SAR 130 mn for its Bisphenol plant, according to the release. Saudi Kayan’s 1H losses narrowed to SAR 821.9 mn, from SAR 1.1 bn in 1H 2023. Revenues rose 4.9% y-o-y to SAR 4.1 bn during the six-month period.

REMEMBER- Asset Manager Riyadh Capital’s 1Q 2024 earnings forecasts maintained a bearish outlook for the petrochemical sector extending into 1H. Higher feedstock prices out of Aramco and a spike in shipping prices due to continued disruptions in the Red Sea weighed on the sector’s outlook, with Riyadh Capital maintaining an “uncertain-to-negative outlook in the short term for 1H 24.”

Hassan Allam Construction Saudi lands container terminal contract for Port of Neom

CONSTRUCTION-

Hassan Allam lands a contract for the Port of Neom: Our friends at Hassan Allam Construction Saudi have been awarded a contract to develop Port of NEOM’s Container Terminal 1 and a related marine services area. The company will work with El Seif Engineering Contracting and China Harbour Engineering, according to a statement on LinkedIn. The contract includes the construction of all buildings at the terminal — which is scheduled to open in 2025 — and the marine services area as well as the infrastructure and entrance zone at the terminal. The value of the contract was not disclosed.

ICYMI- Hassan Allam Construction Saudi is also working on Neom’s coral reef restoration project — considered the largest in the world — under an agreement with the King Abdullah University of Science and Technology.

AVIATION-

Flynas’ order with Airbus now has a figure attached to it — USD 30 bn: This value makes it this year's largest order in commercial aviation, Managing Director and CEO of Saudi Flynas Bandar Al-Muhanna told Asharq Bloomberg.The delivery schedule will run from 2027 to 2034.

REMEMBER- Last week, Flynas placed the big order with Airbus for 30 wide-body A330neo and 130 narrow-body A320 aircraft, doubling its total Airbus orders to 280. The agreement, signed at the Farnborough Airshow includes 75 A320neo and 15 A330-900 aircraft with options for 55 more A320neo aircraft and 15 additional A330s.

INFRASTRUCTURE-

#1- India’s Larsen and Toubro to build a substation, power line in the Kingdom: Saudi Arabia has placed an order with the power distribution arm of Indian engineering and construction conglomerate Larsen & Toubro to build a 380kV substation and 380kV overhead power line in the Kingdom’s central region, Larsen & Toubro said in a statement (pdf). No information was disclosed on the order’s value or timeline.

#2- Private sector players sign infrastructure contracts wroth a total of SAR 1 bn: The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed nine contracts worth SAR 1 bn with the private sector for infrastructure development projects, the authority said in a post on X.

The details: The contracts involve the development of infrastructure and power lines in the industrial cities of Makkah, Jeddah, Tabuk, Dammam and Hafar Al-Batin. The timeline of the projects and the identity of the companies involved were not disclosed.

HEALTHCARE-

Dallah Healthcare has wrapped up the second phase of its Dallah Namar Hospital, with operations slated to kick off on 3 August, it said in a disclosure to Tadawul. Dallah said it obtained the necessary approvals for operating the hospital and announced that Youssef Marroun Contracting Company — awarded a contract in 2022 — has completed mechanical, electrical, and finishing work at the facility.

LOGISTICS-

London Metal Exchange adds Jeddah to its delivery points network for copper, zinc: The London Metal Exchange (LME) has approved Jeddah as a warehouse delivery point for copper and zinc, it said in a regulatory filing (pdf). The listing of the Red Sea port city will go into effect three months after the first warehouse company is approved there, the disclosure read.

IN CONTEXT- LME, the largest metal exchange in the world, had been planning to list Saudi Arabia as a delivery point since March, but said it needs to amend the framework of its warehouse locations, which it did on Monday, according to Reuters. Saudi Arabia became the second MENA country to join LME’s delivery points network after the UAE, according to the exchange’s list of active warehouses (pdf). LSE usually targets locations with high demand for metals, or are key transit points to list its warehouses.

Fed seen leaving rates on hold as two-day meeting gets underway today

The US Federal Reserve is expected to leave its benchmark interest rate unchanged at 5.25-5.5% during a two-day meeting that starts later today, the Financial Times reports.

Watch this space: Analysts think the Fed will signal on Wednesday (or in meeting minutes released later) that it is ready to start cutting rates by September. Recent data shows inflation is under control and the labor market is cooling off, with fewer job gains and rising layoffs.

The central bank of Japan and England will also meet this week, as we noted yesterday. Japan could go for a rate hike (its two-day meeting begins today), while the Bank of England looks set to make a cut when it meets on Thursday.

MEANWHILE- China targets bonuses + compensation for fund managers, bankers: China is intensifying its crackdown on financial sector compensation, extending its reach to mutual fund managers and bankers.

What’s happening? Managers at some state-owned funds have been ordered to return bonuses, as are Hong Kong-based executives at Citi and Everbright. Pundits see the clawbacks happening in the context of Xi Jinping emphasis that “new quality productive forces” (read: tech and manufacturing) should be prioritized as finance gets downplayed.

MARKETS THIS MORNING-

It’s red as far as the eye can see in Asia this morning. All five of the major equities benchmarks we follow are in the red, signaling a “meh” day for investors in Australia, Japan, South Korea, Hong Kong, and China. US and European stock futures are down in overnight trading.

TASI	12,121	-0.4% (YTD: +0.7%)
MSCI Tadawul 30	1,519	-0.34% (YTD: +1.9%)
NomuC	26,513	0.0% (YTD: +8.3%)
USD : SAR (SAMA)	USD 3.75	USD 3.75
Interest rates	6.0% repo	5.5% reverse repo
EGX30	28,851	-0.6% (YTD: +15.9%)
ADX	9,395	+0.8% (YTD: -1.9%)
DFM	4,308	+0.7% (YTD: +6.1%)
S&P 500	5,464	+0.1% (YTD: +14.5%)
FTSE 100	8,292	+1.0% (YTD: +7.2%)
Euro Stoxx 50	4,815	-1.0% (YTD: +6.5%)
Brent crude	USD 81.10	0.0%
Natural gas (Nymex)	USD 1.99	-0.8%
Gold	USD 2,439.10	+0.5%
BTC	USD 67,444	-0.9% (YTD: +59.6%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.4% yesterday on turnover of SAR 6.9 bn. The index is up 0.7% YTD.

In the green: Kingdom Holding Company (+9.5%), Saudi Automotive Services (+6.1%) and Tanmiah Food (+3.4%).

In the red: Bawan (-4.3%), Buruj Cooperative Ins. (-3.9%) and City Cement (-3.7%).

THE CLOSING BELL: NOMU-

The NomuC closed flat yesterday on turnover of SAR 41.4 mn. The index is up 8.3% YTD.

In the green: Osool and Bakheet Investment (+10.2%), Lana Medical (+9.6%) and Mulkia Investment (+8.9%).

In the red: Horizon Education (-5.6%), Knowledge Tower Trading (-5.5%) and Al Razi Medical (-5.2%)

CORPORATE ACTIONS-

Arabian Contracting Services earned regulatory clearance to increase its capital to SAR 550 mn through a bonus share issuance, the Capital Market Authority said in a statement. The increase will be funded by transferring SAR 50 mn from retained earnings. A general assembly meeting will be held within six months to finalize the increase and meet regulatory requirements.

Arabian Cement will distribute dividends of SAR 75 mn for 1H 2024, it said in a disclosure to Tadawul. Dividends will be distributed Thursday, 15 August.

CALENDAR

JULY

4 July-25 August: (Thursday-Sunday): Esports World Cup, Boulevard Riyadh City, Riyadh.

AUGUST

3 August (Saturday): Riyadh Season Card featuring Terence Crawford vs. Israil Madrimov, Los Angeles BMO Stadium.

4 August (Sunday): Last day to apply to the Digital Government Authority (DGA) awards.

12-13 August (Monday-Tuesday): Monshaat Franchise Tour, Al-Khobar.

12-15 August (Monday-Thursday): The Saudi Food Expo, Riyadh.

18 August (Sunday): New academic year begins.

18-22 August (Sunday-Thursday): SANS Riyadh Cyber Leaders August 2024, Hyatt Regency Riyadh Olaya.

27-29 August (Tuesday-Thursday): Saudi Fashiontex Expo, Riyadh.

SEPTEMBER

2-4 September (Monday-Wednesday): Saudi Warehousing & Logistics Expo, Riyadh.

2-4 September (Monday-Wednesday): Saudi Wood Expo, Riyadh.

3-5 September (Tuesday-Thursday): 24 Fintech, Front Exhibition & Conference Center, Riyadh.

9-11 September (Monday-Wednesday): International Manufacturing Congress, Riyadh.

10 September (Tuesday): Saudi Arabia Investors Forum, Riyadh.

10-11 September (Tuesday-Wednesday): SkyMove MENA, Riyadh.

10-11 September (Tuesday-Wednesday): Middle East LPG Expo – Saudi Arabia 2024, Intercontinental Hotel, Riyadh.

10-12 September (Tuesday-Thursday): Saudi Sports Show, Riyadh.

10-12 September (Tuesday-Thursday): Global AI Summit, Riyadh.

11-12 September (Wednesday-Thursday): The Saudi Event Show, Riyadh.

16-19 September (Monday-Thursday): Foodex Saudi, Riyadh.

17-19 September (Tuesday-Thursday): EV Auto Show, Riyadh.

17-19 September (Tuesday-Thursday): Hotel & Hospitality Expo, Front Exhibition & Conference Center, Riyadh.

18-19 September (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam.

18-19 September (Wednesday-Thursday): IDC Saudi Arabia CIO Summit 2024, Riyadh.

24-26 September (Tuesday-Thursday) Saudi Infrastructure Expo, Riyadh International Convention and Exhibition Center, Riyadh.

23 September (Monday): National Day (national holiday).

27 September (Friday): CAF Super Cup Final 2024, Riyadh.

29 September (Sunday) - 1 October (Tuesday): Jeddah Construct Expo, Jeddah.

OCTOBER

1-3 October (Tuesday-Thursday): Intersec Saudi Arabia 2024, Riyadh.

5-7 October (Saturday-Monday): Middle East Education & Training Exhibition 2024, Jeddah.

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

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

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.

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

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

NOVEMBER

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

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

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

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

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

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

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

DECEMBER

1 December (Sunday): Opec+ to meet.

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

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

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

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

Signposted to happen sometime in 2024:

The AFC Champions League Elite

2025

JANUARY 2025

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

FEBRUARY 2025

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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