Tadawul turnover, volumes thin in July

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WHAT WE’RE TRACKING TODAY

Crown Prince Mohammed Bin Salman urges Trump to curtail strikes

Good morning, folks. Our top two stories cover Saudi Arabia’s reckoning with notable regional disruptions, namely the TASI’s July performance and revised BMI forecasts. The exchange’s performance in July may seem stable — dipping roughly 2% — but an underlying volatility and a 50% drop in trading volumes reflect a thinned market rather than a real equilibrium. Meanwhile, BMI has revised its Saudi economic forecast to a 1.3% contraction in light of prolonged Hormuz disruption, standing to hit both oil production and non-oil growth.

ALSO- SAB Invest’s former chief investment officer has stepped down to launch EQCM, a new Riyadh-based and MENA-focused PE fund with some SAR 1 bn in initial commitments.

More 2Q earnings are in: The latest earnings performance from Bupa, Luberef, Saudi Chemical, Jabal Omar, Alujain, and Catrion Catering are here.

Crown prince does not want more US strikes

Stop: Crown Prince Mohammed bin Salman reportedly urged US President Donald Trump in a phone call on Saturday to avoid strikes that could reignite the conflict and lead to an unprecedented escalation, Axios reports, citing sources it says are familiar with the matter.

Did he listen? Trump announced he’s calling off planned strikes on Iran shortly after, provided Tehran reaches an agreement with Washington “rapidly,” according to a post on Truth Social. He claimed that Iran and other countries in the region asked him to hold off and that the parameters of an agreement were established. This would include the complete reopening of the Strait of Hormuz and putting an end to Iran’s nuclear program.

Reports had said that the US and Israel were preparing intense attacks against Iran, including strikes on energy infrastructure, BBC reports. The plan was reportedly discussed at a US cabinet meeting on Friday, while Washington urged Americans across the Middle East to remain alert and be prepared to leave if the conflict escalates.

The conflict is creating domestic pressure for Trump, with around 60% of Americans disapproving of the war, according to Pew Research Center. A further escalation could push oil prices higher and increase pressure on US consumers ahead of the midterm elections.

The Kingdom is trying to secure all its fronts: Saudi Arabia just founded a maritime defense alliance to secure its trade and energy supplies, and any escalation with Iran risks more Houthi attacks across the Red Sea and targeting of the Kingdom’s ports and energy infrastructure by Iran. This would pose an unprecedented security threat and would further disrupt Saudi’s shipments and export levels.

REMEMBER- The US and Saudi Arabia launched air strikes on Iran-backed groups in Iraq last week in retaliation for drone attacks on Saudi oil facilities that it says were launched from the Arab country. Iran also announced launching missiles at US bases in Jordan and targeting tankers in the Strait of Hormuz.

LPG prices up again

Saudi Aramco has raised its official August selling prices for LPG by 6-7% on stronger demand, traders told Reuters on Friday. The state producer lifted propane by USD 40 a ton to USD 620 and butane by the same margin to USD 640. Aramco’s monthly LPG prices are widely used as a benchmark for Middle East LPG exports to the Asia-Pacific market.

The seesaw: Aramco moved the other way last month, cutting LPG prices by 24-27% for July, with propane down USD 180 a ton to USD 580 and butane down USD 220 a ton to USD 600 on higher global supply.

Conflict-wary Opec+ raises output

Opec+ greenlit an additional hike of 188k bbl / d for September, marking the bloc’s sixth consecutive monthly increase and fully rolling back the 1.65 mn bbl / d in voluntary cuts agreed upon in 2023, according to a statement. The decision mirrors identical quota increases for August, July, and June, which followed an oil output boost of 206k bbl / d for May.

The Kingdom will contribute 62k bbl / d for the hike, raising its required production level to around 10.5k bbl / d for September 2026.

The conflict weighs heavy: In a separate meeting yesterday, the alliance’s Joint Ministerial Monitoring Committee expressed renewed concern over attacks on energy infrastructure amid the US-Iran war, noting that the costly and prolonged repairs required for such damage threaten global supply.

REMEMBER- Despite rising quotas, Opec+’s actual output has yet to fully recover from war-related export disruptions, with May production dropping m-o-m to 33.1 mn bbl / d — well below pre-war levels of 42.7 mn — before starting a gradual recovery in June.

What’s next? The bloc maintains a foundational layer of production cuts affecting the majority of its members — a restriction of 2 mn bbl / d originally enacted in 2022 that is scheduled to remain in effect through the end of the year, Reuters reports.

Some Saudi oil is going out: Two tankers carrying a total of around 3 mn barrels of Saudi crude crossed the Bab Al Mandab strait over the weekend despite the ongoing naval blockade by Yemen’s Houthis, Reuters reports, citing data by Kpler. The waterway saw 18 commodity vessels pass through yesterday.

Data point

USD 167.4 bn — that’s the value of Saudi Arabia’s bonds and sukuk maturing between 2026 and 2030, according to a Kamco Invest report citing Bloomberg data. Sovereign and government issuers account for USD 31.5 bn of Saudi Arabia's upcoming maturities.

Monday morning kudos

A shoutout is in order for our friends at EFG Hermes, whose securities brokerage division ranked first across five MENA markets in 1H 2026, according to a press release (pdf). EFG Hermes secured the top spot in Egypt, Kuwait, and the UAE, topping the EGX, Boursa Kuwait, Dubai Financial Market, Abu Dhabi Exchange, and Nasdaq Dubai, the company said, citing official market share data. The brokerage also ranked number 10 in Saudi Arabia, with its market share rising to 6.5%.

“Ranking first across five MENA markets in the first half of 2026 is a powerful endorsement of the trust our clients place in EFG Hermes and the strength of the platform we have built across the region. This is not a one-market story; it is the result of years of investment in talent, technology, execution quality, and deep client relationships across our footprint,” EFG Hermes Group Head of Brokerage Ahmed Waly said.

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The big story abroad

The regional war may be looking at another halt with US-Iran negotiations set to resume today, US President Donald Trump said, without confirming a deadline for an agreement. Trump said he called off a planned strike against Iran, characterizing it as the “biggest attack since World War II.” Iran’s state media reported that Foreign Minister Abbas Araghchi spoke with Saudi and Pakistani officials to coordinate diplomatic efforts.

One of the world’s largest pharma groups may be on the way, as UK-based AstraZeneca conducts talks to merge with US drugmaker Bristol Myers Squibb. The resulting entity would be valued at around USD 400 bn. The companies have discussed a potential tie-up in recent months and could reach an agreement soon, though talks may still be delayed or fall apart.

Apple has put a cap on incoming software bug submissions from researchers after its defense system was swarmed with AI-generated reports that hallucinate non-existent risks. The iPhone maker says it is facing an industry-wide challenge as generative AI tools reshape cybersecurity.

Hollywood has another hit on its hands, as Sony Pictures’ Spider-Man: Brand New Day opened to some USD 927 mn in global box-office revenues, becoming the second-biggest film debut ever. The web-slinger’s latest is well positioned to overtake the year’s other major hits, namely Toy Story 5, The Odyssey, and The Super Mario Galaxy Movie.

Saudi stocks barely moved in July, but trading nearly halved

TASI closed July down 1.95% at 10,590 points, a decline mild enough to pass for a quiet month. It wasn’t one. Strikes on Saudi refineries, a Houthi naval blockade, and Saudi jets joining US airstrikes on Iran-backed militias in Iraq all fell within the month.

What gave way was the trading behind it. Turnover came in at SAR 86.1 bn, down roughly 20% from the same month last year, while share volume nearly halved to 4.55 bn from 8.6 bn a year earlier, the Saudi Exchange said in its monthly report (pdf). Market cap ended at SAR 9.45 tn across 269 traded names.

The vanished volume is the month’s real signal, CG Invest head of financial market analysis Aseel Al Aranki tells EnterpriseAM. “Price is a marginal-trade number,” she says. When volume falls this far while price barely moves, it usually means the order book thinned rather than that buyers and sellers found a real equilibrium, she argues.

It's a placeholder price rather than the market’s verdict on the news: That thinness is also why the market could take the news without cratering, she adds, since there wasn’t enough two-sided flow to force price discovery.

The escalation that should have moved the market came in its final week. That left three or four trading sessions between the worst of the news and where the market closed, Al Aranki says. A market trading on a fraction of its usual volume can’t reprice a live conflict in a handful of sessions.

The vulnerability sits at Yanbu. With Hormuz still choked, the Red Sea terminal had become effectively the kingdom’s only working export corridor, carrying 92% of June’s seaborne crude exports and 78% of July’s. The 25 July strikes hit the refinery complex, not the export terminal itself. “If that terminal itself had been the target instead of the refinery complex, you’d expect a different index reaction entirely,” she says.

Who stepped back explains the missing volume. Aranki reads it as sequential. Retail, the segment most sensitive to war-risk headlines, stops showing up first. Domestic institutions, the pensions, insurers and asset managers, de-risk more deliberately, trimming and raising capital in size, which shows up in turnover rather than price. Qualified foreign investors “stay away” the longest until there’s clarity.

Foreign investors had the least reason to stay. Saudi Arabia opened barrier-free direct access to all categories of foreign investors in February, leaving a foreign base still young, thin, and with little home-bias reason to sit through a regional war. A Gulf-war headline is exactly the event that triggers a risk-committee review at a foreign fund and pauses new allocation, Al Aranki notes, while domestic institutions have nowhere else to redeploy Saudi-mandated capital.

Open access was meant to deepen this market. It hasn’t yet. Saudi Tadawul Group’s first-half results show daily average traded value down 9.11% against 1H 2025. “The CMA delivered the access; the market hasn’t yet delivered the liquidity,” Aranki says. She stops short of calling the reform a failure, since foreign capital arrives in waves once custody, settlement, and index mechanics catch up, but a war in the same window is close to the worst environment to test the thesis.

The breakdown

Beneath the headline, the individual moves were narrow and concentrated. Energy and materials led the risers, but the strength didn’t extend to the sector’s largest names. Petro Rabigh climbed 21.69% to SAR 14.87, up 117.40% for the year, yet Sabic fell 3.78%, and Aramco added just 1.38%. Tabuk Agricultural led all gainers at 47.50%, and Knowledge Economic City rose 23.05%. The fallers were scattered small-caps rather than a sector, led by Naseej (-31.71%), Saudi Fisheries (-23.29%), and Nice One (-21.37%).

The index’s heaviest names accounted for much of the downside. Al Rajhi fell 5.08% to SAR 62.55, and Alinma dropped 4.42%, pulling the benchmark down even as most other lenders rose, with Saudi Awwal Bank, Arab National Bank, and Bank Aljazira each up more than 4.5%.

What to watch

The usual defensives look less safe than the textbook says. Telecom, healthcare, and food retail trade on demographic, SAR-denominated demand, but two things complicate the hiding place this cycle, Aranki says. A shut-in Jazan refinery and a squeezed export corridor are a fiscal story as much as an energy one, and Saudi consumer names are unusually tied to public wages, subsidies, and Vision 2030 project flow, so “not exposed to crude” is not “not exposed to the state’s balance sheet.” And with turnover down across the board, even a sound defensive can gap on a thin book.

Keep an eye out for August: “The real test is whether August turnover returns and where price goes on real volume once people actually have to trade around a damaged Jazan refinery and a live Iraq front,” Aranki says.

Saudi economy now expected to shrink in 2026 on extended Hormuz disruption timeline, BMI

Fitch Solutions’ BMI now expects the economy to contract 1.3%, reversing an earlier 1.1% growth call, after the Strait of Hormuz disruptions lasted longer than its models assumed.

ICYMI- Saudi real GDP already contracted 4.8% y-o-y in 2Q 2026, according to a Gastat flash estimate, marking the Kingdom’s first annual contraction since 4Q 2023 and its steepest since the pandemic.

The swing comes down to one variable: Hormuz. BMI had expected shipping through the strait to begin normalizing in July. It now sees disruptions lasting until late 3Q. On that timeline, oil production is forecast to fall 12% this year, with a 25% y-o-y drop in 3Q alone, before a partial recovery in 4Q. The non-oil side took a harder hit in 2Q than expected too, prompting BMI to cut non-oil growth to around 1% from 2%, with exports bearing the brunt.

What holds up: BMI is clear that the contraction is concentrated in oil, not spread across the economy. Consumer spending remains resilient on rising real wages and continued job creation. The non-oil sector, now more than half of GDP, kept expanding through 1H. Saudi Arabia is one of just two Gulf states, alongside Oman, still expected to post non-oil growth this year.

A rebound on the way? BMI sees 7.6% growth next year, which would be one of the Kingdom’s strongest years in two decades. Saudi GDP has exceeded 7% only twice since 2006, per IMF data. The projection assumes Hormuz reopens fully, driving a 24.4% rebound in oil output alongside recovering non-oil exports, higher investment, and consumption growth pushing non-oil GDP close to 5%.

Where BMI sits against the field: The IMF is holding its full-year 2026 call at 1.7% growth (2.6% non-oil) and sees a 5.5% rebound in 2027, both contingent on Hormuz normalizing. A Reuters poll last month also trimmed 2026 growth to 1.4%. But with 2Q already 4.8% down, 1H is tracking negative, and those full-year forecasts now rest on a sharp second-half recovery that has not begun.

Osama Alowedi walks out on SAB Invest’s top investment seat

Osama Alowedi (LinkedIn) walked out of SAB Invest's top investment seat after more than four years running the show as chief investment officer, people familiar with the matter tell EnterpriseAM. No corporate reshuffle here — he’s going out on his own.

Alowedi isn’t taking a breather. He’s already building his next act, a new MENA-focused public equity fund based right here in Riyadh, under a fresh outfit called EQCM. And it’s not starting from zero, as the fund has already pulled in roughly SAR 1 bn (USD 267 mn) in initial commitments, the sources say.

Why it matters: Alowedi spent his SAB Invest years turning the platform into something of a product machine. Saudi Arabia's first quant ETF launched under his watch; a USD 100 mn VC fund with Saudi Technology Ventures came together during his tenure; and when SAB Invest made its first push into private credit, chasing a SAR 1 bn raise, it landed on his desk as well.

The HSBC muscle behind SAB Invest: SAB Invest sits inside Saudi Awwal Bank, roughly a third owned by HSBC, which is how a Saudi asset manager ended up running quant strategies borrowed from HSBC’s global playbook.

The bigger trend: Alowedi’s leap into public equities adds one more name to the roster of managers launching products out of Riyadh at a moment when institutional and family office capital in the region has been showing appetite for specialized, locally run strategies.

Bupa, Luberef, Saudi Chemical, and more post 2Q earnings

Bupa capitalizes on expansion

Bupa Arabia reported a 7.2% y-o-y increase in net income to SAR 306.8 mn in 2Q 2026, according to a Tadawul disclosure. Revenue rose 12.4% y-o-y to SAR 5.3 bn during the period. The performance was attributed to business growth, which boosted the ins. service results and investment income.

1H told a similar story, with the firm’s net income climbing 4.1% y-o-y to SAR 694.1 mn and revenue rising 15.5% y-o-y to SAR 10.54 bn.

Luberef’s bottom line triples on stronger oil margins

Near threefold jump: Saudi Aramco Base Oil Company (Luberef) posted a 199.4% y-o-y rise in net income to SAR 734.1 mn in 2Q 2026, it said in a Tadawul disclosure. Revenue climbed 52% y-o-y to SAR 3.42 bn over the same period.

1H also remained strong: Net income for 1H 2026 more than doubled to SAR 992.1 mn, up 112.6% y-o-y, as revenue increased 27.4% to SAR 5.58 bn. The first-half performance was driven by higher base oil and by-product prices alongside stronger crack margins, with earnings per share rising to SAR 5.9 from SAR 2.77 a year earlier.

Dividends: The board approved a SAR 673.1 mn dividend for 1H 2026, equivalent to SAR 4 per share, Luberef said in a different disclosure. Shareholders registered by 1 October will be eligible for the payout, which is scheduled for 15 October.

Financial gains lift Saudi Chemical

Saudi Chemical Company posted a 16% y-o-y increase in net income to SAR 80.6 mn in 2Q 2026, according to a Tadawul disclosure. Revenue rose 4.3% y-o-y to SAR 1.84 bn, the company’s highest-ever quarterly figure, driven by higher sales volumes.

The boost came from below the operating line, not sales. Gross net income was essentially flat despite the higher revenue, so the earnings gain leaned on a lower expected-credit-loss charge on trade receivables, reduced finance costs from a cheaper debt load, and a favorable swing on interest-rate derivatives — partly offset by higher selling, zakat, and tax expenses, the company said. Volume growth in the healthcare and explosives segments buoyed the top line.

The half-year read: Net income climbed 10.6% y-o-y to SAR 167.8 mn in the first half of the year, while revenue rose by 4.7% y-o-y to SAR 3.57 bn, spurred by the same drivers.

Hotels fuel Jabal Omar turnaround

Jabal Omar Development swung to the black in 2Q 2026, logging SAR 158.1 mn in net income, compared to a SAR 42 mn loss a year earlier, it said in a Tadawul disclosure. Meanwhile, revenue rose 42.5% y-o-y to SAR 712.5 mn. Strong hotel performance during the Hajj season and the opening of the Rotana Hotel earlier this year lifted revenue.

BUT- 1H net income fell 69.6% y-o-y to SAR 275.1 mn, while revenue increased 16.4% to SAR 1.45 bn.

Flight woes clip Catrion’s 2Q

Catrion Catering Holding’s 2Q net income fell 27.3% y-o-y to SAR 47.6 mn in 2Q 2026, while its revenue rose 20.4% y-o-y to SAR 688.1 mn, according to a Tadawul disclosure. Revenue grew on the non-aviation side — the Red Sea Project and a full quarter of gains from its March acquisition of Al Khalejiah Catering — while regional disruption cut flights and meals on the aviation side, squeezing the bottom line.

For the first half, net income fell 8.7% y-o-y to SAR 128 mn and revenue was up 16.5% to SAR 1.4 bn.

Dividends: Catrion greenlit a SAR 82 mn dividend payout for 1H 2026, equivalent to SAR 1 per share. Distribution is scheduled for 13 September.

Alujain’s operations, investment income lift earnings

Alujain’s net income increased by more than sixfold to SAR 91.9 mn in 2Q 2026, according to a Tadawul disclosure. Revenue rose by 71.3% y-o-y to SAR 541.9 mn during the period on the back of a 68% increase in polypropylene sales and a rise in selling prices, according to its earnings (pdf).

What lifted the books? Stronger operating performance, higher contributions from equity-accounted investments, and increased finance income, alongside a larger contribution from discontinued operations. These gains were partly offset by higher finance costs and lower fair value gains on financial assets.

In the first half, the company turned to the black with SAR 104.1 mn in net income, compared to a SAR 4.8 mn loss in the same period last year. Revenue climbed by 58.3% y-o-y to SAR 872.2 mn.

SAL wraps up Aviapartner’s takeover

SAL finalizes Aviapartner takeover to expand into Europe: SAL Saudi Logistics Services completed the SAR 120 mn (EUR 28 mn) acquisition of Belgium’s logistics firm Aviapartner Liege, marking its first operational presence outside Saudi Arabia and expanding its network to 20 stations, according to a press release (pdf).

REMEMBER- The two firms inked the sale and purchase agreement in March. The acquisition gives SAL an operating base at Liege Airport, Europe’s fifth-largest cargo hub by freight volume, and access to freight flows across Germany, the Netherlands, France, and Luxembourg.

Joint US-Japan currency intervention buys Tokyo time for a September rate hike

Tokyo and Washington are jointly stepping in to arrest the JPY’s slide to 40-year lows, but the intervention is merely buying time for a fix that currency purchases alone cannot deliver: a Bank of Japan (BOJ) rate hike, now penciled in for as early as September. Finance Minister Satsuki Katayama is expected to confirm the joint action today, according to two Japanese officials cited by Reuters, marking the first such coordinated move since 2011.

The mechanics of the rescue: Japan bought JPY and sold USD in New York hours on Thursday, with BOJ data suggesting a massive outlay of up to USD 58.97 bn, though confirmed figures won’t be out for another month. Tokyo intervened again in New York hours on Friday. The US side was executed quietly: the Treasury told banks on Friday to stand ready, and the New York Fed sold EUR for JPY on the Treasury’s behalf through Goldman Sachs and Morgan Stanley, according to the Financial Times, but no amount was disclosed.

A highly visible “To Do” list: While the exact US spend wasn’t disclosed, Treasury Secretary Scott Bessent accidentally flashed his notepad during a televised Camp David cabinet meeting on Friday. The top item? “To Do: Buy Japanese Yen (JPY) USD 5-10 bn.”

Does this actually work? Japan has intervened alongside the US or other G7 partners five times since 1985 and gone it alone eight times, according to an analysis by currency strategist Brent Donnelly of Spectra Markets, separately cited by Reuters. His analysis shows most of the joint interventions coincided with an actual turn in the USD/JPY trend. However, Nomura currency strategist Dominic Bunning remains skeptical, calling the current move “tacit support more so than explicit coordinated intervention,” rather than 2011-style coordination.

Why September matters more than today: The BOJ held its rate at 1% on Friday but warned for the first time that underlying inflation could exceed its target, marking the clearest signal yet that a hike is coming as soon as next month. Pundits think intervention won’t help the JPY in the longer term unless the BOJ actually follows through, and unless US rates move lower too.

South Korea is also playing defense: Seoul sold USD alongside Japan on Thursday, briefly lifting the KRW 2% to a nine-month high. But the KRW’s broader 7.5% surge this month is coming from a different source entirely: Korean companies repatriating USDs, not intervention.

OUR TAKE- Washington is helping prop up the JPY because the alternative isn’t appealing.

Japan is one of the largest foreign holders of US government debt. If Tokyo is forced to sell down its Treasury holdings to fund a unilateral JPY rescue, it could trigger a selloff in US debt and cause an unwelcome spike in US yields. Japan’s Finance Ministry posted on X over the weekend that it has “a broad range of tools,” including access to the Fed’s Foreign and International Monetary Authorities (FIMA) Repo Facility, which lets it raise USD liquidity without selling its Treasury holdings outright.

MARKETS THIS MORNING-

Asian markets kicked off the month in the red, led by a sharp decline in South Korea’s Kospi, which dropped 4.5% in early trading, capping off a turbulent July during which it slumped 22%. The drop-off coincided with a sell-off among heavyweight chipmakers, driven by mounting headwinds that include rapid advancements in China’s AI and semiconductor sectors. Japan’s Nikkei wasn’t too far behind, slipping 2.2%.

TASI	10,706	+1.1% (YTD: +2.1%)
MSCI Tadawul 30	1,438	+1.0% (YTD: +3.7%)
NomuC	21,895	+0.3% (YTD: -6.0%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.25% repo	3.75% reverse repo
EGX30	54,286	+1.6% (YTD: +29.8%)
ADX	9,915	+0.4% (YTD: -0.8%)
DFM	5,796	+0.1% (YTD: -4.2%)
S&P 500	7,490	+0.7% (YTD: +9.4%)
FTSE 100	10,868	-0.3% (YTD: +9.4%)
Euro Stoxx 50	6,358	+0.2% (YTD: +9.7%)
Brent crude	USD 83.64	-4.9%
Natural gas (Nymex)	USD 2.73	-0.6%
Gold	USD 4,126	+0.5%
BTC	USD 63,421	+1.0% (YTD: -27.6%)
Sukuk/bond market index	906.50	-0.1% (YTD: -1.4%)
S&P MENA bond & sukuk	149.83	0.0% (YTD: -1.4%)
VIX (Volatility Index)	15.99	-6.4% (YTD: +7.0%)

THE CLOSING BELL: TADAWUL-

The TASI rose 1.1% yesterday on turnover of SAR 3.7 bn. The index is up 2.1% YTD.

In the green: Lazurde (+10.0%), National Medical Care (+8.1%), and Retal Urban Development (+6.5%).

In the red: Methanol Chemicals (-10.0%), Elm Co (-7.7%), and Takween Advanced Industries (-4.0%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.3% yesterday on turnover of SAR 8.1 mn. The index is down 6.0% YTD.

In the green: Digital Research (+20.4%), Lamasat (+9.8%), and Al Ashghal Al Moysra (+9.7%).

In the red: Mulkia Investment (-6.3%), Almujtama Medical (-6.1%), and International Human Resources (-5.9%).

CALENDAR

AUGUST

30 August-1 September (Sunday-Tuesday): Saudi Paper and Packaging Expo, Riyadh International Convention & Exhibition Center.

31 August-3 September (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.

SEPTEMBER

8-10 September (Tuesday-Thursday): The WTM Spotlight Riyadh, Riyadh Front Exhibition & Conference Center (RFECC), Riyadh.

15-17 September (Tuesday-Thursday) The Global AI Summit, King Abdulaziz International Convention Center, Riyadh.

23 September (Wednesday): Saudi National Day.

28 September-1 October (Monday-Thursday): The International Conference on Theory and Practice of Electronic Governance (ICEGOV), Prince Sultan University, Riyadh.

OCTOBER

25-26 October (Sunday-Monday): The Global Proptech Summit, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

26-28 October (Monday-Wednesday): ACHEMA Middle East, Riyadh International Convention & Exhibition Center.

26-29 October (Monday-Thursday): The Future Investment Initiative, King Abdulaziz International Conference Center, Riyadh.

28-29 October (Wednesday-Thursday): Procurement and Supply Chain Futures Forum, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

28-29 October (Wednesday-Thursday): Real Estate Supply Chain Forum, Mandarin Oriental Al Faisaliah Hotel, Riyadh.

30 October-1 November (Friday-Sunday): The New Global Sport Conference, Sofitel Hotel & Convention Centre, Riyadh.

NOVEMBER

11-12 November (Wednesday-Thursday): Aluminum Arabia, The Arena, Riyadh.

16-19 November (Monday-Thursday): Cityscape Global, Riyadh Exhibition and Convention Centre (Malham), Riyadh.

29 November-1 December (Sunday-Tuesday): The UN Trade and Development Global Supply Chain Forum, Riyadh.

Signposted to happen sometime in 2026:

2H: Sabic’s USD 6.4 bn Fujian project in China to start production;
November: The Esports Nations Cup, Riyadh;
The World Economic Forum’s Global Collaboration and Growth Meeting, Jeddah;

2027

FEBRUARY

1-3 February (Monday-Wednesday): Energy Regulators Regional Association annual conference, Riyadh.

MARCH

21-25 March (Sunday-Thursday):The World Water Forum, Riyadh.

22–24 March (Monday-Wednesday): Capital Markets Forum, Four Seasons Hotel, Riyadh

APRIL

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

JUNE

1-3 June (Tuesday-Thursday): The Saudi Entertainment and Amusement Expo, Riyadh Front Exhibition and Conference Center.

Signposted to happen sometime in 2027:

The Ocean Race finishes in Amaala on the Red Sea;
Riyadh-Kudmi transmission line to be completed;
Aero Middle East and Sand & Fun takes place in Thumamah Airport, Riyadh.

Signposted to happen sometime in 2Q 2027:

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

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