Twareat Medical Center prices Nomu direct listing

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WHAT WE’RE TRACKING TODAY

THIS MORNING: It’s PMI day

Good morning, friends, and welcome to the last few days of 2024. It’s not a particularly busy start to the week, although we expect it to pick up considering the news triggers coming up later today and this week…

NEWS TRIGGERS-

The General Authority for Statistics is also kicking off the week with the release of its FDI report for 3Q 2024 today. The data promises a detailed dive into the latest FDI trends shaping the domestic economy.

Also in the pipeline: Labor market statistics reports for 3Q 2024 are scheduled to come out this Tuesday, 31 December.

WEATHER- Riyadh will see a high of 25°C and a low of 12°C today, while Jeddah’s mercury will go as high as 30°C before tapering off to 23°C. Makkah’s weather will see a 31°C high and 20°C low.

PSAs-

#1- Saudi investors won’t have to pay taxes in Omani industrial cities under a new tax exemption enacted by the Public Establishment for Industrial Estates (Madayn), which runs 10 industrial cities across the country, head of the Saudi-Omani Business Council Nasser Al Hajri told Aleqtisadiah.

ALSO- Saudi chemical exports will enter the Omani market directly starting this week following the establishment of a dedicated inspection facility at the Saudi-Omani border crossing, whereas they previously had to go through the Emirati borders, Al Hajri said.

#2- The next round of e-invoicing: Companies that recorded more than SAR 1.75 mn in revenues subject to VAT in 2022 or 2023 will need to integrate their e-invoicing solutions with Zatca’s Fatoora platform by a deadline of 30 September, 2025, according to a statement from Zatca. This is the latest phase of an e-invoicing rollout that began in late 2021.

#3- The Interior Ministry’s Absher platform rolled out a new service allowing hosts to report cases of overstaying visa holders, the Saudi Gazette reports. Reports can only be filed after seven days of visa expiry but before the 14th day. Reports are a one-time submission per visitor and cannot be canceled post-submission.

WATCH THIS SPACE-

#1- The final phase of open-air shopping center Souq7 is slated to wrap up by the end of 2025, Chairman of Azad Properties, the mall’s developer and operator, Mohammad Alawi told Aleqtisadiah. The SAR 1.5 bn Jeddah mall, which first opened its doors in January 2023, saw footfall triple y-o-y to 120k visitors in October of this year, according to Alawi.

By the numbers: While 1.2k stores are currently operational at the 700k sqm mall, some 2k stores are expected to be added by the end of 1Q 2025, with the mall set to reach 3.5k stores by 3Q. Once fully operational, Souq7 will boast some 114 buildings with 4k stores and a total rental area of 400k sqm.

#2- Derayah’s IPO gets the go-ahead: Derayah Financial Company received the green light from the Capital Market Authority (CMA) to go public with a 20% stake (49.9 mn shares), according to a CMA statement. A prospectus for the offering is yet to be published. While the statement doesn’t confirm whether this is a Tadawul or Nomu listing, by offering 20% of the company’s issued shares, the company meets the threshold for a Nomu listing.

#3- Yamama Cement moves closer to mineral sector venture: Yamama Cement signed a non-binding MoU with Sultan Holding and Obeikan Investment Group to set up a holding company for investing in the minerals industry, it said in a disclosure to Tadawul. The company will focus on lithium, graphite, and silica production, among others. The MoU is valid until the end of June 2025. Yamama’s board greenlit the move last week.

DATA POINTS-

#1- Tadawul’s main market saw an 11.6% y-o-y rise in investment portfolios for individuals in 3Q 2024, reaching 12.8 mn, according to the Capital Market Authority’s 3Q statistical bulletin (pdf).

Who’s investing? Individual portfolio owners grew 7.3% y-o-y to 6.5 mn, with women accounting for 25.6% (1.7 mn) of the total investors. That’s around 0.4 percentage points lower than a year earlier.

#2- Nonprofit organizations in the Kingdom saw their revenues grow 33% y-o-y in 2023 to SAR 54.4 bn, according to a General Authority for Statistics report (pdf). The health sector led the growth with a 70% y-o-y increase in revenue, followed by education and research at a 53% increase, and volunteer activities at a 36% increase.

Meanwhile, nonprofits’ expenditures rose 33% y-o-y during the same year, reaching a total of SAR 47 bn. Similarly, the health sector saw the largest increase in spending with 74% y-o-y growth, followed by education and research at 55% growth. Environmental activities came in third with a 34% y-o-y increase.

#3- The Saudi Red Sea Authority issued 12 maritime tourism-related licenses over the past two months in a bid to boost tourism activity at coastal destinations, it said in a post on X. Key permits include a tourism shipping agent license for Deep Seas Shipping Agency, marina operator licenses for Sindalah Marina in Neom, Dolphin Beach Resort, and Amanah Jeddah Marina, as well as a cruise ship operator license for Red Sea Cruises (Cruise Saudi).

#4- The Social Development Bank handed out a total of SAR 8 bn in credit facilities in 2024, it said in a post on X. Of the total figure, some SAR 2.8 bn were allocated to freelancers and productive families (76k beneficiaries), SAR 2.6 bn to entrepreneurs and small businesses (7k beneficiaries), and SAR 2 bn to social finance (39k beneficiaries).

SPORTS-

The Green Falcons are facing off against Kuwait in the Gulf Cup semifinals this Tuesday, 31 December at 9:45pm after defeating Iraq 3-1 yesterday. Snagging the tournament trophy would give Saudi Arabia its first regional title since 2004, Arab News notes.

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THE BIG STORY ABROAD-

It’s a pretty quiet morning in the western press as the news slowdown drags on.

Trump asks Supreme Court to delay TikTok ban: US president-elect Donald Trump is pushing for the Supreme Court to pause a law requiring TikTok’s Chinese owner, ByteDance, to sell the platform to a US company or face a nationwide ban by 19 January. Trump argued his incoming administration needs time to find a reasonable political resolution. (Reuters | BBC | CNN | Bloomberg | The Guardian)

CIRCLE YOUR CALENDAR-

#1- The three-day Future Minerals Forum kicks off on 14 January at Riyadh’s King Abdulaziz International Conference Center.

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

#3- 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.

#4- 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.

Twareat Medical Center pegged its Nomu direct listing at SAR 12 apiece

Twareat Medical Center (TMC) priced its direct listing on Nomu at SAR 12 apiece, according to its registration document (pdf). The company lined up CMA approval for the move earlier this month. The company sold a 7.45% stake (2.98 mn shares) in a private offering last year, with 55 new shareholders buying in.

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SOUND SMART- In a direct listing, a company allows its existing shareholders to sell their shares directly on the market without issuing new shares or raising additional capital. This process typically involves fewer regulatory requirements and costs, making it faster and simpler than an IPO.

The registration document does not specify the number of shares to be listed, allowing existing shareholders (excluding substantial shareholders) to decide how many of their shares they wish to sell on the market once trading begins. This approach provides flexibility and does not predetermine the supply of shares available, which is ultimately dictated by shareholder interest and market demand.

Pre-listing structure + lockup: TMC’s four major shareholders collectively hold 28.9 mn shares, representing 72.2% direct ownership and 16.8% indirect ownership. All substantial shareholders will be restricted from selling their shares for 12 months from the first day of trading.

Earnings snapshot: TMC reported SAR 16.1 mn in net income in 1H 2024, up 147% y-o-y. The company logged SAR 92.2 mn in revenues during the same period, marking a 28.6% increase.

ADVISORS- Aldukheil Financial Group is quarterbacking the listing as its financial advisor and PKF Al Bassam is auditor.

About Twareat: Established in 2013 in Al Khobar, TMC operates across four divisions: Remote clinics, industrial clinics, medical operations, and medical center management. Its activities include construction, building renovations, wholesale medical equipment trade, and management of medical facilities such as hospitals, clinics, and laboratories. The company also provides home healthcare, mobile clinics, telemedicine, and radiology services.

SVC backs Jadwa Investment’s SAR 2 bn PE fund

SVC backs Jadwa Investment’s first regional blind-pool private equity fund: SME Bank subsidiary S audi Venture Capital (SVC) invested an undisclosed sum in Jadwa Investment’s Jadwa GCC Private Equity Fund 1, the firm’s first regional blind-pool private equity fund, according to a statement. The fund aims to raise SAR 1.5 bn, with a hard cap of SAR 2 bn, focusing on a diversified portfolio of high-potential private equity opportunities across Saudi Arabia and the GCC.

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SOUND SMART- A regional blind-pool private equity fund invests in private equity opportunities within a specific geographic area, with investors committing capital without knowing the specific investments, relying on the fund manager to identify and select them.

About Jadwa: Jadwa Investment, a leading MENA-based investment firm headquartered in Riyadh, manages over SAR 90 bn in client assets. Its clients include government entities, institutional investors, family offices, and high-net-worth individuals.

SVC has had a busy month: Last week, SVC made an undisclosed investment in Raed III, a Raed Ventures-managed fund that targets early-stage tech startups in Saudi Arabia and the UAE. Earlier this month, SVC also became an anchor investor in Middle East Venture Partners’ new Saudi-focused USD 150 mn Middle East Venture Fund IV. Additionally, it committed an undisclosed sum to Aliph Fund I, a private equity vehicle with a USD 250 mn target, managed by Aliph Capital.

Bank AlJazira kicks off tier 1 sukuk issuance

Bank AlJazira kicked off a SAR-denominated additional tier 1 sukuk issuance, as part of its broader SAR 5 bn shariah-compliant debt scheme, according to a filing to Tadawul. The return on the sukuk and its final value are yet to be determined, and will be based on prevailing market conditions, with proceeds earmarked for supporting the bank’s capital base and growth plans, according to a previous disclosure to the exchange.

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The details: Institutional and qualified investors will have until Wednesday, 8 January to subscribe to the offering, with the minimum subscription limit set at SAR 1 mn. Offered through private placement, the sukuk will carry a par value of SAR 1 mn and is perpetual in nature, meaning it has no fixed maturity date. It may be redeemed on a call date or under specific circumstances outlined in the terms and conditions.

ADVISORS- Our friends at HSBC Saudi Arabia, Aljazira Capital, and Al Rajhi Capital are serving as joint lead managers for this issuance.

A snapshot of the domestic logistics sector in 2023

The number of logistics centers in the Kingdom rose 267% to 22 in 2023, compared to 2021 as a base year, according to a General Authority for Statistics (Gastat) report (pdf).

Geographical distribution: The Eastern Region boasts six of the country’s 22 centers, covering 6.3 mn sqm. Makkah and Riyadh follow closely with five centers each, spanning 20 mn sqm, and 4.9 mn sqm respectively.

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Maritime cargo takes the lion’s share: Saudi ports processed some 308.7 mn tons of cargo in 2023 — the highest across the board, while land transport accounted for 24.9 mn tons. Meanwhile, railways moved 14.3 mn tons, and air freight handled 918k tons of cargo over the same period.

The country is also home to nearly 12.5k warehouses with a combined area of 22.8 mn sqm, according to the report. Riyadh has 6.6k warehouses spanning 10.6 mn sqm, leading in both count and area, followed by Makkah with 2.2k warehouses covering 6.5 mn sqm.

REMEMBER- Rents for warehousing facilities in Saudi Arabia have been on the rise, spurred by growing demand, even as investments continued to flow into expanding warehousing capacity across the country. Average lease rates for light industrial units and grade B facilities in Riyadh rose 10.4% in 1H 2024, as growing industrial investments put more pressure on facility supply.

Warehouse licenses: General warehouse licenses constituted 55.6% of total warehouse licenses, at 6.9k. Humidity-controlled and refrigerated warehouses followed with 2.1k and 2k licenses, respectively.

The Kingdom issued 170 valid licenses for customs clearance activities in 2023. Customs authority licenses were the most common, totaling 57, followed by 47 airport licenses.

IN OTHER LOGISTICS NEWS-

Saudi ports scored 241.6 points on UNCTAD’s Liner Shipping Connectivity Index for 4Q 2024, the Saudi Ports Authority (Mawani) said in a post on X. The index measures a country’s integration into global shipping routes, reflecting the efficiency of its maritime transport systems.

The index is based on six components — the number of ships, container-carrying capacity, maximum vessel size, number of shipping services, number of direct country-pair connections, and the number of companies operating container ships in the nation’s ports.

Leejam Sports taps Abdulelah Al-Nemr as new CEO

Leejam Sports named Abdulelah Al Nemr (LinkedIn) as its new CEO, following the resignation of its current CEO Adnan Al Khalaf, according to a filing to Tadawul. Al Nemr currently serves as deputy governor for development and planning at the National Development Fund, having previously held positions at Saudi Technology Development and Investment.

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Al Arabia lands leasing rights for advertising spaces of Riyadh’s public transport

ADVERTISING-

Al Arabia secures leasing rights for advertising spaces of Riyadh’s public transport: Outdoor advertising firm Arabian Contracting Services (Al Arabia ) was awarded a contract — with SAR 563.2 mn in revenue sharing and contracting fees — by the Royal Commission for Riyadh City to lease the advertising spaces of Riyadh’s King Abdulaziz Public Transport Project, including trains and buses, it said in a disclosure to Tadawul. The 10-year contract is yet to be sealed.

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M&A WATCH-

Budget Saudi subsidiary wraps majority stake acquisition in UAE arm of Overseas Development: Aljozoor Alrasekha Trucking (Rahaal), a subsidiary of vehicle rental firm United International Transportation Company (Budget Saudi), finalized the acquisition of a 70% stake in the Emirati arm of freight forwarder Overseas Development Company for AED 7.8 mn, after negotiating down the original AED 13.3 mn consideration, Budget Saudi said in a disclosure to Tadawul.

REMEMBER- Rahaal signed a sale and purchase agreement with Overseas Development earlier this year for the transaction.

REAL ESTATE-

PIF-owned Roshn Group broke ground on Al Manar community, its first mixed-use development in Makkah, according to a press release. The project, which was launched in March, will feature 33k homes and over 150 amenities upon completion. The delivery date of the project has not been disclosed.

REMEMBER- Roshn and National Housing Company signed agreements to give Sakani beneficiaries an avenue to own residential units in the Al Manar and Al Danah communities during the Cityscape Global conference in November.

India is on track to become second biggest IPO market in 2024

India has surpassed China as top market for company listings in Asia this year, after the value of listings in China fell some 86% this year from USD 48 bn last year, when it was the biggest market in the region, the Financial Times reports. Buoyant stock valuations of Indian equities fueled a surge in initial public offerings, with India’s National Stock Exchange surpassing both Dubai’s Nasdaq and the Hong Kong Stock Exchange in primary listings by value, according to Dealogic and KPMG, putting it on track to become the world’s second-largest equity fundraising market, trailing only after the US.

Behind the shift: India’s IPO boom has been driven by smaller transactions and spin-offs from multinational companies like Hyundai, as issuers rush to lock in valuations while market conditions remain favorable, the salmon-coloured paper said. “It’s been one of the busiest times in the history of Indian capital markets,” Kotak Investment Banking managing director V Jayasankar said, noting that the trend has been bolstered by significant household investments into local equity markets.

This shift reflects broader changes in Asian financial markets: Economic headwinds and tighter regulations designed “to achieve balance between primary and secondary market” have led to a slump in China’s IPO activity, stalling many companies’ plans to go public, BNP Paribas strategist Scarlett Liu said. On the other hand, Hong Kong has emerged as a bright spot, with equity raising surpassing USD 10 bn, led by high-profile transactions like Midea’s USD 4 bn secondary listing and supported by its appeal as an offshore financial hub for Chinese firms.

Is India a bubble waiting to burst? “Obviously the number of transactions has gone up but the average ticket size per transaction is down about 75-80% in the last two years,” said one Mumbai-based banker. “Now, what that tells me is [companies are thinking] ‘run for the hills, let’s try to cash in as quickly as we can, whatever we can while market conditions remain supportive.’” The country’s reporting weaker corporate earnings and slower GDP growth — with growth falling sharply to 5.4% in 3Q 2024 — which has raised concerns among foreign portfolio managers of a potentially frothy market, prompting them to pull some USD 11 bn from Indian equities in October and USD 2.5 bn in November.

Local bankers disagree, with many citing a healthy pipeline of IPOs and ample liquidity as signs that the market is still healthy with a lot of activity expected in the first half of 2025.

TASI	11,859	-0.3% (YTD: -0.9%)
MSCI Tadawul 30	1,490	-0.23% (YTD: -3.9%)
NomuC	30,886	-0.4% (YTD: +25.9%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	5.0% repo	4.5% reverse repo
EGX30	29,958	-0.2% (YTD: +20.3%)
ADX	9,328	-0.5% (YTD: -2.6%)
DFM	5,130	+0.4% (YTD: +26.4%)
S&P 500	5,971	-1.1% (YTD: +25.2%)
FTSE 100	8,150	+0.2% (YTD: +5.4%)
Euro Stoxx 50	4,899	+0.8% (YTD: +8.4%)
Brent crude	USD 74.17	+1.2%
Natural gas (Nymex)	USD 3.38	+1.9%
Gold	USD 2,632	-0.8%
BTC	USD 95,197	+0.7% (YTD: +125.0%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.3% on Thursday on turnover of SAR 2.8 bn. The index is down 0.9% YTD.

In the green: Rasan (+7.6%), Medgulf (+7.2%) and Zoujaj (+4.2%).

In the red: SRMG (-3.9%), Albaha (-3.9%) and Red Sea (-3.6%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.4% on Thursday on turnover of SAR 50.4 mn. The index is up 25.9% YTD.

In the green: Bena (+9.5%%), Molan (+8.6%) and Lana (+7.6%).

In the red: NGDC (-7%), Edarat (-6.1%) and Dar Almarkabah (-5.8%)

Saudi Arabia supports Yemen with a USD 500 mn aid package

The Kingdom provided USD 500 mn in economic aid to Yemen, including a USD 300 mn deposit in the central bank to stabilize the economy and USD 200 mn to address a USD 1.2 bn budget deficit, Asharq Al Awsat reports.

MEANWHILE- The Saudi Fund for Development (SFD) signed an agreement with Zambia’s Finance Ministry that will see the fund extend a USD 35 mn loan for the King Salman Specialist Hospital in Zambia, bringing the project’s total funding to USD 135 mn, state news agency SPA reports.

CALENDAR

DECEMBER

31 December (Tuesday): Last day for taxpayers to benefit from Zatca’s fines and penalties waiving initiative.

31 December (Tuesday): Engineers in the public sector will be subject to a new pay grade scheme.

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

JANUARY 2025

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

5 January (Sunday): Launch day for Riyadh Metro line 3.

7-9 January (Tuesday-Thursday) Saudi Tourism Forum, Riyadh Front, Riyadh.

9 January (Thursday): Deadline to submit applications for the Saudi Capital Market Awards.

12 January (Sunday): Launch ceremony of the standard incentives for the industrial sector.

13-16 January (Monday-Thursday): Hajj Conference and Exhibition, Superdome, Jeddah.

14-16 January (Tuesday-Thursday): Future Minerals Forum, King Abdulaziz International Conference Center, Riyadh.

15-16 January (Wednesday-Thursday): The International Learning and Technology Conference, Effat University, Jeddah.

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.

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.

FEBRUARY 2025

1 February (Saturday): UFC event, 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.

22 February (Saturday): Founding Day.

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

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

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

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

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

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.

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

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

DECEMBER 2025

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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