World Bank upgrades our GDP growth forecast to 3.2% in 2025

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WHAT WE’RE TRACKING TODAY

THIS MORNING: Russia to introduce a visa-free regime for Saudi citizens

Good morning. The World Bank is reaffirming its faith in Saudi’s growth prospects, upgrading 2025 forecasts citing robust non-oil growth and increasing oil production. Meanwhile, the PIF raised some EUR 1.65 bn from its first EUR-denominated issuance. Let’s dive in.

HAPPENING TODAY-

#1- The Financial Academy Forum kicks off today at King Abdullah Financial District Conference Hall in Riyadh. The annual event will gather over 3k participants from the Saudi financial sector, along with government officials and experts to discuss innovation, AI, sustainability, and finance leadership.

#2- The Global EV & Mobility Technology (GEMTECH) Forum wraps up today in Riyadh. The two-day event features more than 60 speakers holding discussion panels focusing on the latest advancements in electric vehicle technology, battery innovation, charging infrastructure, and autonomous mobility solutions.

#3- The Riyadh International Book Fair is on its seventh day today at Princess Nourah Bint Abdul Rahman University. The event, which runs through next Saturday, features some 2k publishing houses from over 25 countries, with book signings, children’s programs, and new business zones for publishers and literary agents also on the agenda.

WEATHER- Light to moderate thunderstorms are forecast over Jazan, Al Baha, and Makkah, turning heavy in parts of Asir. Hail, strong winds, and fog are likely across these areas, with fog patches also expected along the Eastern Region and Tabuk coasts. Dust-lifting winds may affect parts of Madinah, Tabuk, Al Jouf, and the Northern Borders.

Riyadh: 35°C high / 23°C low,
Jeddah: 36°C high / 26°C low
Makkah: 38°C high / 29°C low.

HAPPENING TOMORROW-

Gas Arabian Services Company (GAS) will begin trading on the Main Market tomorrow, following its approved transfer from the Nomu parallel market last month with a capital of 158 mn shares, according to a Tadawul statement. GAS’s shares will be subject to a 10% daily price fluctuation limit.

PSAs-

Individuals holding any type of visa can now perform Umrah while in the Kingdom, the Hajj and Umrah Ministry said on X on Sunday. The new policy applies to all visa categories, including tourist, visit, work, and transit visas. Visitors can apply for their Umrah visa via Nusuk Umrah platform.

WATCH THIS SPACE-

Russia is planning to introduce a visa-free regime for Saudi citizens, along with travelers from China and Malaysia, Russian news agency Tass reported yesterday, citing pre-reads for the strategic session on tourism development in Russia. The country is targeting an increase in foreign visits from 5 mn currently to 11 mn by 2030.

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THE BIG STORY ABROAD-

It’s a mixed bag of news in the international business press this morning, with more noise — and concerns — around the future of AI and surging investments in the sector, as well as updates on trade and tariffs, and the final push for a ceasefire between Gaza and Israel in Egypt.

#1- Concerns mount over the risks of an AI bubble amid spending spree from OpenAI, Nvidia: The bns of USD invested in AI so far, marked by OpenAI topping USD 1 tn in commitments and Nvidia’s spending spree, are based on a “circular,” “interconnected” web of business transactions involving only a handful of firms that cast doubt over the sector and its ability to sustain itself, Bloomberg writes in this morning’s big read. Meanwhile, the Financial Times similarly spotlights OpenAI’s recent transactions, including ones with Oracle, AMD, and Nvidia, highlighting the “fake it till you make it” ethos that has powered the sector so far, and that could blow up if OpenAI isn’t able to honor its funding commitments.

#2- Over in the world of trade, the EU is proposing a 50% tariff on steel imports to match the US’ tariff, but it could hit the UK — the biggest importer of European steel — the hardest. Meanwhile, the World Trade Organization has slashed its growth forecast for global trade next year to 0.5%, down significantly from 1.8% earlier, as the impacts of Trump's tariffs filter through. (Politico | Guardian | BBC)

ALSO GETTING ATTENTION- Tesla launched new affordable models, including a cheaper model Y SUV and sedan, as it looks to revive sales and counter the effects of rising competition in Europe and China. (Reuters | Financial Times | Bloomberg)

CLOSER TO HOME- Officials from Israel, Qatar, and the US, including US special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner, are heading to Egypt for the Israel-Hamas peace talks, which are now on their third day. Trump says there’s a “real chance” for an agreement, as officials say the focus is on reaching an agreement on the ceasefire and hostage release, but sticking points around the governance of Gaza and the complete disarmament of Hamas — all part of a later phase — have yet to be addressed. (Bloomberg | Guardian)

World Bank upgrades Saudi GDP growth forecast to 3.2% in 2025

The World Bank revised upward its 2025 GDP growth forecast for Saudi Arabia to 3.2%, marking an increase of 0.4 percentage points from its previous forecast in June, North Africa, Afghanistan, and Pakistan (MENAAP) Economic Update report (pdf). Growth in 2026 is expected to accelerate further to hit 4.3%, a downgrade of 0.2 percentage points compated to the bank's June forecast. Meanwhile, 2024 will see a slight acceleration to 4.4%.

The drivers: The bank said the upwards revision came on the back of elevated oil output, as Opec+ has been hiking production quotas since April. Robust non-oil sectors, especially services, are strongly contributing to GDP growth.

Our fiscal deficit is projected to widen: The World Bank now forecasts our fiscal deficit to expand this year by 0.6 percentage points to 3.1%, edging further to 3.3% in 2026, which matches the Finance Ministry’s projections. Meanwhile, the current account deficit is set to narrow by 0.2 percentage points to 0.3% this year, changing into a surplus of 0.3% in 2026.

Inflation is predicted to accelerate by 0.2 percentage points to hit 2.3% this year, in line with FinMin’s projections. The international lender expects inflation to take a modest downward trajectory to reach 2.2% in 2026, slightly above the Ministry forecasts which see inflation easing to 2% next year.

The World Bank upgrade follows a recent upgrade from the IMF, which raised its forecast for Saudi Arabia’s 2025 GDP growth to 3.6%, up 0.6 percentage points from its April outlook, while raising its 2026 forecast by 0.2 percentage points to 3.9%. Both fall behind FinMin’s latest projections, which expect our GDP to expand at a 4.6% clip in 2026, up from 4.4% this year, on the back of growth in non-oil activities. Meanwhile, a recent Reuters poll anticipates Saudi Arabia to record 3.8% growth this year.

The GCC region at large is expected to expand at 3.5% this year, up by 0.3 percentage points from the bank’s last forecast, and significantly higher than the 2.2% growth achieved in 2024. This uptick is mainly driven by the elevated phasing out of OPEC+ production cuts, and by robust expansion in non-oil sectors.

PIF raises EUR 1.65 bn from its first EUR-denominated green bond issuance

The Public Investment Fund (PIF) raised EUR 1.65 bn from its inaugural EUR-denominated green bond issuance, Reuters reports, citing fixed-income news service IFR. The offering drew combined orders of more than EUR 8.7 bn.

The details: The fund raised EUR 850 mn from its seven-year tranche at 90 bps over mid-swaps, tightened from initial price thoughts of 90-95 bps. Meanwhile, the seven-year tranche, maturing in 2032, raised EUR 800 mn 58 bps, down from an initial 125 bps, Zawya reported.

Rated Aa3 (Stable) by Moody’s and A+ (Stable) by Fitch, the issuance comes under GACI First Investment Company’s euro medium-term note program and will be listed on the London Stock Exchange’s International Securities Market.

Where will the money go? The proceeds are earmarked to finance, refinance, or invest in eligible green projects under PIF’s Green Finance Framework, which covers renewable energy, green transport, and sustainable infrastructure.

The issuance capitalizes on EUR bond market conditions: “This move leverages favorable [EUR] bond market conditions, in terms of both lower interest rates and a much broader investor base in green bonds,” Apostolos Bantis, a managing director of fixed income at Union Bancaire Privee, told Bloomberg.

ADVISORS- Crédit Agricole CIB, JPMorgan, and Société Générale are joint global coordinators. Barclays serves as green structuring advisor, while BBVA, BNP Paribas, HSBC, IMI Intesa Sanpaolo, and ING act as joint active bookrunners.

REMEMBER- Last month, the fund sold USD 2 bn in USD-denominated bonds, after issuing some USD 4 bn in EUR-denominated bonds in January. The fund also closed a USD 7 bn murabaha credit facility — its first ever — during the same month.

What’s next for PIF? The sovereign wealth fund is expected to set out a new long-term investment strategy by the end of next month, set to prioritize investments inside the Kingdom. The PIF leads MENA sovereign investors with USD 15.9 bn deployed across 12 transactions since inception.

SIDF, SVC bacck Janus Henderson’s USD 125.5 mn Mena private credit fund

Asset manager Janus Henderson raised USD 125.5 mn in the first close of its MENA Private Credit Fund IV, according to a press release. The fund is targeting a final close of USD 300 mn by mid-2026, with a second close due by end-2025. Saudi players and a Mubadala-backed JV and anchored the first close.

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The details: The GCC-focused, shariah-compliant private credit fund, is backed by the SIDF Investment Company and Saudi Venture Capital Company, along with Abu Dhabi Catalyst Partners — a joint venture between Mubadala Capital and Alpha Wave Global. It also attracted interest from regional institutions and family offices, the statement said.

The bigger picture: The fund aims to help bridge a USD 250 bn SME financing gap across MENA, where traditional banks remain cautious lenders. It will offer non-bank, flexible financing for growth, refinancing, recapitalizations, and acquisitions, targeting 10-12 transactions worth USD 15-50 mn each over its eight-year term.

This marks Janus Henderson’s third Islamic finance vehicle under its ADGM-based Emerging Markets Private Investments arm, as the firm deepens its presence in the region’s growing alternative finance market.

IN OTHER INVESTMENT NEWS- Thabet investment Company partnered with Singapore-based Five Keys Investment to launch Evergreen Capital, a fintech firm based in Riyadh with SAR 375 mn (USD 100 mn) in capital, it said on LinkedIn on Monday. The new company will focus on offering financing solutions for Saudi small and medium enterprises (SMEs) to help reduce the sector’s SAR 300 bn funding gap, the Saudi Gazette reported on Monday.

Saudi gigaproject contracts hit USD 196 bn -Knight Frank

The total value of awarded construction contracts for gigaprojects roseto USD 196 bn in the first eight months on 2025, as the kingdom’s developments shift from blueprints to reality, according to the fourth annual Saudi Arabia Giga Projects Report by Knight Frank (pdf).

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Riyadh at the forefront: Riyadh has been leading the gigaproject drive with its flagships — Diriyah Gate, King Salman Park, and the 220 km Sports Boulevard. Since 2016, over USD 237 bn in real estate and infrastructure projects have been announced in the capital, with USD 44.2 bn already awarded and USD 158 bn in the pipeline.

On the back of this development boom, the capital’s population is projected to swell to 10.1 mn by 2030 from 7 mn in 2022 — preserving its status as the Kingdom’s top job creation market, which accounted for 63% of new jobs in the country since 2019. The capital is adding 340k new homes, 4.8 mn sqm of offices, 3 mn sqm of retail space, and about 29k hotel rooms to meet the increasing demands

Riyadh’s star Diriyah: Contract awards for Diriyah have reached USD 3.7 bn as of August this year, while 2024 totaled USD 5.9 bn. Overall, the USD 63 bn Diriyah Gate project has seen USD 14.5 bn in commissioned works to date, with another USD 45.6 bn slated for development. Progress in the heritage destination reached 40%-57% in its sub projects Diriyah Square, Wadi Safar, Arts District and Bujairi District, while works in Media and Innovation District and Diriyah Boulevard are just kicking off.

A snapshot of the Western region: The Western region accounts for USD 431.3 bn in announced investments since 2016 across 17 projects, with USD 57 bn in contracts awarded and USD 187.2 bn in the pipeline. By 2030, projects in the Western region are expected to deliver over 382.5k homes, 330k hotel rooms, 3 mn sqm of offices, and 4.3 mn sqm of retail space. The region’s flagship Neom and its sub-projects have seen awarded construction contracts to date totaling USD 24 bn, including USD 9.3 bn for Oxagon, USD 8.9 bn for The Line, USD 3.3 bn for Trojena, USD 2 bn for Sindalah, and USD 470 mn for Magna.

Other regions are feeling the love too: Gigaprojects worth USD 132.3 bn are advancing across other regions, with USD 31.4 bn already commissioned and USD 85.3 bn in the pipeline. Among the initiatives are tourism projects in Aseer’s Soudah Mountains, urban revitalization efforts by the Downtown Company, and large-scale housing initiatives by the National Housing Company and PIF-owned Roshn.

Gigasports: By 2032, over a dozen stadiums across Saudi Arabia will be expanded or built from scratch at a total cost of USD 17.5 bn, boosting capacity to host major tournaments, including the 2027 AFC Asian Cup and 2034 Fifa World Cup. In parallel, PIF-owned Saudi Entertainment Ventures (Seven) is investing over USD 4.7 bn to develop entertainment complexes across major cities, adding 570k sqm of retail space and introducing cinemas, theme parks, and family centers to position the Kingdom as a regional leisure hub.

Zooming out: The national transformation plan has put forth real estate and infrastructure projects totalling USD 1.3 tn, of which over USD 808 bn worth of real estate projects are in the pipeline. Saudi Arabia is the GCC’s largest project spender with USD 440 bn in committed projects and an additional USD 1.55 tn planned, according to Emirates NBD's September estimates.

IN CONTEXT- The 20% uptick in gigaproject contract awards comes despite a widescale recalibration of gigaprojects, including Neom, as the Kingdom begins to “take stock” of large-scale Vision 2030 spending amid low oil prices and global uncertainty, Finance Minister Mohammed Al Jadaan said in May. The Kingdom is tackling supply pressures by adopting risk planning and diversifying material sources, as well as adapting timelines to economic conditions, and prioritizing gigaprojects slated for international mega events such as 2030 World Expo and 2034 Fifa World Cup, the report noted.

eXtra’s estimated net income rises 7% y-o-y to SAR 167.2 mn in 3Q 2025

United Electronics Company’s (eXtra) estimated net income went up 7% y-o-y to SAR 167.2 mn in 3Q 2025, fueled by a better sales mix and growth in the consumer finance segment, it said in a Tadawul disclosure yesterday. Revenue rose 11.8% y-o-y to SAR 1.8 bn during the period, driven by strong back-to-school and National Day sales. The company also benefited from an upturn in the retail segment, as well as an expanded customer base for its paid loyalty program Jood.

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In 9M 2025, the retailer saw its bottom line increase 10.7% y-o-y to SAR 395.1 mn and its top line rise 10.8% y-o-y to SAR 5.7 bn.

ALSO- Our friends at eXtra’s subsidiary United International Holding (Tas’heel) saw their estimated net income jump 38.4% y-o-y to SAR 81.6 mn in 3Q 2025, the firm said in a disclosure to Tadawul yesterday. Revenue rose 23.2% y-o-y to SAR 199.2 mn over the same period, pushed up by a 29% increase in the financing portfolio.

In 9M 2025, Tas’heel’s net income rose 26% y-o-y to SAR 199.2 mn, while its revenue expanded 25.6% y-o-y to SAR 566.3 mn.

Engagesoft bags USD 3.5 mn in pre-Series A funding led by Silicon Badia

Homegrown employee engagement platform Engagesoft secured USD 3.5 mn in a pre-Series A funding round led by Jordan’s Silicon Badia, according to a press release (pdf).

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Where’s the money going? Engagesoft will use the fresh funds to ramp up its AI-driven roadmap, targeting the development of organizational health across engagement, culture, leadership effectiveness, and performance.

Eighteen months at a glance: The company saw its revenue jump more than tenfold over the past 18 months, driven by tripling its customer base and average subscription rate value, according to the press release.

About Engagesoft: Founded in 2021 by brothers Omar Tahboub (LinkedIn) and Tareq Tahboub (LinkedIn), the Riyadh-headquartered SaaS platform provides services in employee engagement and experience, along with organizational health surveys from its offices in Saudi Arabia, Egypt, and Jordan. The company’s portfolio of clients includes Zamil Industrial, Edita Food Industries, Nadec, Takaful Rajhi, Jamjoom, Binzagr, Juhayna, Al Tamimi Markets, Saudi Authority for Intellectual Property, and Saudi Downtown Company.

Foreign consultancies in the Kingdom hit the brakes on hiring

Foreign consultancies’ hiring spree in the Kingdom reaching an endgame caught the interest of the foreign press, with the Financial Times attributing the trend to Saudi Arabia’s reassessment of spending priorities, along with scaling back some of the Vision 2030 plans. The impact is noticeable and measurable, as the Saudi consulting market growth decelerated to 12% last year, down from 25% in 2023, Dane Albertelli, senior research analyst at Source Global Research, told the FT. Government clients are also showing increased skepticism, demanding better value and scrutinizing contracts more closely.

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The salmon-colored paper pointed out several factors driving the job curb, including lower oil prices, which are squeezing the government budget and leading to feasibility studies for multiple projects. Meanwhile, some projects are reaching the delivery phase, which requires fewer strategists and more builders. Adding to the pressure, the AI era is enabling firms to automate analytical tasks, reducing the need for large teams of junior consultants.

BUT- Some see the Saudi consultancy market is naturally “softening back into a real market,” after an extraordinary boom since the pandemic. Consultancy firms employed an “unprecedented” number of staff to meet the government’s demand for Vision 2030 projects. Now that this demand decreases, the Kingdom’s consulting market is hitting a “pause rather than a decline,” Albertelli said.

SAL to build SAR 4.2 bn logistics zone in Riyadh’s Falcon City

LOGISTICS-

Falcon City’s logistics zone on the way: SAL Saudi Logistics Services finalized an agreement with Sela Company to lease land in Riyadh’s Falcon City for 30 years to develop and operate a logistics zone, with an estimated investment of SAR 4.2 bn, it said in a disclosure to Tadawul yesterday.

The details: The project covers 1.6 mn sqm and includes a three-year grace period. SAL will pay a one-time non-refundable fee of SAR 25 mn for infrastructure, along with an annual lease rate of SAR 16 per sqm, increasing by 1.5% each year after the grace period.

We knew this was coming: The logistics player inked a preliminary agreement in March to lease a 1.5 mn sqm land plot from Sela for the project, with an estimated investment of SAR 4 bn.

ALSO FROM SAL- The company’s board approved plans to launch a SAR-denominated sukuk program, according to a disclosure to Tadawul yesterday. JP Morgan Saudi Arabia and SNB Capital have been appointed as arrangers for the program, which will proceed following regulatory approvals, with further details to be announced once finalized.

M&A WATCH-

Ades International Holding and its Cayman-based BidCo are moving forward with acquiring Shelf Drilling, after the target firm’s shareholders greenlit the merger, it said in a Tadawul disclosure yesterday. The approval comes following Ades increasing its bid to acquire all outstanding shares of Dubai-based and Oslo-listed Shelf Drilling last month at NOK 18.50 per share, up from a previous NOK 14. The new price is a premium of 33.6% to its previous closing price on 15 September. Ades already owns 17.9% of Shelf.

ADVISORS- SpareBank 1 Markets is quarterbacking the transaction as Ades’s sole financial advisor, with Schjødt and Maples Group providing counsel. Meanwhile, Evercore is advising Shelf Drilling, with Advokatfirmaet Thommessen AS, Conyers, and Latham & Watkins providing counsel.

AVIATION-

Riyadh Air signed an MoU with Uber to work together on improving travel experiences in the Kingdom and abroad, according to a press release. The two companies plan to offer integrated booking options and special benefits for members of Riyadh Air’s upcoming loyalty program.

IN CONTEXT- Saudi’s newest airline is on track to kick off operations this year after delaying its planned launch earlier in the year, a representative of Riyadh Air told EnterpriseAM last month. Service is expected to begin once Boeing hands over the first two of four Boeing 787 Dreamliners currently undergoing assembly.

Emerging market rally hits 15-year high as weaker USD fuels global shift

Emerging market assets are surging at their fastest pace since 2009 as investors flock to developing economies, drawn by a weaker USD, high real yields, and attractive valuations, the Financial Times reported yesterday.

An MSCI benchmark of emerging-market equities climbed 28% YTD — its biggest gain over the period in over 15 years — while a JPMorgan index tracking local-currency government bonds is up 16%. Both indices are rebounding from what analysts have called a “lost decade” of underperformance against US markets. Meanwhile, MSCI’s developed-market stocks index is up less than 17% this year, the salmon-colored paper said.

The turnaround follows years of stagnation: Emerging market equities rose just 9% in total between 2010 and 2024, trailing one of the strongest US bull runs in history. “After 15 years of very mediocre performance, the stars are finally aligning and the most important variable there is the USD,” Ian Simmons, senior portfolio manager at Fiera Capital, told the FT, citing the USD’s slide under President Trump’s administration and the Federal Reserve’s shift toward rate cuts.

A softer USD has eased financial pressures on developing economies by lowering the costs of servicing USD-denominated debt, while falling US yields have spurred renewed appetite for local-currency bonds offering high inflation-adjusted returns. Roughly half of this year’s gains in JPMorgan’s EM bond index stem from FX moves, according to Damien Buchet, chief investment officer of Principal Finisterre.

The rally has been strongest in Brazil, Mexico, Colombia, Hungary, and South Africa, where high real rates have kept carry trades appealing, Bloomberg reports. “You can have these multi-year virtuous circles within emerging markets where capital inflows drive improving fundamentals, which will bring more capital inflows,” said Kenneth Orchard, head of international fixed income at T. Rowe Price. Meanwhile, countries with fragile finances — think Turkey -- continue to maintain double-digit policy rates to draw capital.

Governments are tapping into investor demand: Local-currency bond issuance across 17 major emerging markets outside China has hit a record USD 286 bn YTD, S&P Global Ratings’ head of emerging markets credit research Zahabia Gupta told the FT.

The rally has also spilled into equities tied to the global AI boom, with South Korea’s Kospi and Taiwan’s Taiex both reaching record highs as investors pile into chipmakers and hardware suppliers for data centers. Taiwan Semiconductor Manufacturing Company alone now represents about 11% of the MSCI EM Index — more than the combined weighting of several countrie, according to the FT.

Despite the surge, EM assets remain cheap. The MSCI EM Index trades at about 14x forward earnings, compared with 23x for the S&P 500, according to William Blair portfolio manager Vivian Lin Thurston. That valuation gap has fueled much of this year’s “re-rating” in emerging markets, as investors calibrate expectations.

MARKETS THIS MORNING-

Asian markets are trading mixed this morning, with the Shanghai Composite up 0.5%, Japan’s Nikkei almost unchanged, and Hong Kong's Hang Seng inching down 0.8%. Meanwhile, Wall Street futures are slightly inching up, after the S&P ended a 7-day streak of gains.

TASI	11,583	-0.2% (YTD: -3.8%)
MSCI Tadawul 30	1,509	-0.4% (YTD: 0.0%)
NomuC	25,521	-0.1% (YTD: -18.9%)
USD : SAR (SAMA)	USD 3.75 Sell	USD 3.75 Buy
Interest rates	4.75% repo	4.25% reverse repo
EGX30	37,097	0.0% (YTD: +24.7%)
ADX	10,082	+0.2% (YTD: +7.1%)
DFM	5,940	+0.5% (YTD: +15.1%)
S&P 500	6,715	-0.4% (YTD: +14.2%)
FTSE 100	9,484	+0.1% (YTD: +16.0%)
Euro Stoxx 50	5,614	+0.3% (YTD: +14.7%)
Brent crude	USD 65.74	0.0%
Natural gas (Nymex)	USD 3.52	+0.1%
Gold	USD 4,008	0.0%
BTC	USD 121,943	-2.5% (YTD: +30.4%)
Sukuk/bond market index	923.38	+0.5% (YTD: +2.4%)
S&P MENA Bond & Sukuk	150.75	-0.1% (YTD: +7.7%)
VIX (Volatility Index)	17.24	+5.3% (YTD: -3.9%)

THE CLOSING BELL: TADAWUL-

The TASI fell 0.2% yesterday on turnover of SAR 6.1 bn. The index is down 3.8% YTD.

In the green: Tasheel (+8.2%), Flynas (+4.3%) and East Pipes (+3.6%).

In the red: Bahri (-3.6%), MBC Group (-3.4%) and Saudi Kayan (-2.4%).

THE CLOSING BELL: NOMU-

The NomuC fell 0.1% yesterday on turnover of SAR 58.4 mn. The index is down 18.9% YTD.

In the green: Rawasi (+19.1%), Dar Almarkabah (+14.0%) and Multi Business (+5.3%).

In the red: Alrashid Industrial (-9.4%), Group Five (-5.8%) and iOud (-5.6%).

CALENDAR

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

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

OCTOBER

2-11 October (Thursday-Saturday): Riyadh International Book Fair 2025, Princess Nourah Bint Abdul Rahman University.

5 October-8 January 2026: Title deed registration for 3.2k properties in Al Yasmin district, Hail.

6-8 October (Monday-Wednesday): Saudi Lifestyle Week, Riyadh International Convention & Exhibition Center.

7-8 October (Tuesday-Wednesday): Global EV & Mobility Technology (GEMTECH) Forum, Riyadh.

8 October (Wednesday): The Financial Academy Forum 2025, King Abdullah Financial District, Riyadh.

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

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

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

15 October (Wednesday): Russian-Arab Summit.

16 October (Thursday): Aviation Impact Middle East, Hyatt Regency Riyadh Olaya .

17 October (Friday): Saudization for private healthcare roles enters its second phase.

19 October (Sunday): Canadian Medical Center Company’s (CMCER) shares will halt for the transfer.

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

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

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

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

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

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

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

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

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

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

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

NOVEMBER

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

DECEMBER

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

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

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

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

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

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

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

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

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

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

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

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

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

2026

JANUARY

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

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

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

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

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

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

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

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

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

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

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

FEBRUARY

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

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

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

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

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

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

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

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

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

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

MARCH

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

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

APRIL

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

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

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

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

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

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

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

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

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

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

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

MAY

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

OCTOBER

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

Signposted to happen sometime in 2026:

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.
November: The Esports Nations Cup, Riyadh.
The Intervision international music competition will take place in Saudi Arabia.

Signposted to happen sometime in 2027:

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

Signposted to happen sometime in 2Q 2027:

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

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