{"id":109193,"date":"2026-05-20T00:00:00","date_gmt":"2026-05-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=109193"},"modified":"2026-05-20T03:08:54","modified_gmt":"2026-05-20T03:08:54","slug":"priced-out-waiting-it-out","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/priced-out-waiting-it-out\/","title":{"rendered":"Priced out, waiting it out"},"content":{"rendered":"<section id=\"109195\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109195\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/this-morning-humain-eyes-sar-20-bn-goldman-advised-package-for-riyadh-data-centers\/\">\r\n                            Humain onboards Goldman Sachs for data center financing                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/this-morning-humain-eyes-sar-20-bn-goldman-advised-package-for-riyadh-data-centers\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1228.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109196\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/this-morning-humain-eyes-sar-20-bn-goldman-advised-package-for-riyadh-data-centers\/1228-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1228.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1228.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1228.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1228.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109195\" class=\"content-area-description single-story post-109195 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-ai tag-alinma-bank tag-data-center tag-enterpriseam-ksa tag-humain tag-sukuk tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Go<\/strong><strong>od morning, all. <\/strong>Real estate leads today\u2019s issue, as we look at the Kingdom\u2019s residential market and how it has been impacted by the regional war. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plus: <\/strong>In a conversation with Sharakah Capital Partner Latifa Banasr, we dive into what the medium-term has in store for regional VCs. <\/p>\n<p class=\"tag-border-left\"> Happening today<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- A GCC-UK trade agreement could be finalized today<\/strong> as representatives from both sides meet in London, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-19\/uk-on-verge-of-trade-deal-with-gulf-states-says-saudi-arabia?embedded-checkout=true\" style=\"\">Bloomberg<\/a> reports, citing comments made by GCC Secretary-General Jasem Albudaiwi that were picked up by Saudi media. From the UK side, officials said talks were ongoing but steered clear of specifying whether the agreement would come today.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/05\/18\/this-morning-drone-strike-targets-barakah-nuclear-plant-ihc-subsidiary-eyes-a-usd-1-3-bn-investment-in-adani-airport-holdings\/\" style=\"\">Earlier this week<\/a>, sources familiar with the matter said an agreement would be wrapped up \u201cwithin days,\u201d after Albudaiwi said last week that talks had made \u201csignificant progress.\u201d Financial services, health, and industrial growth were among the sectors cited for cooperation efforts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A long time coming: <\/strong>Talks have been ongoing for around four years now, with reports of an imminent agreement going as far back <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/11\/21\/this-morning-uk-prime-minister-to-head-to-the-gcc-next-month\/\" style=\"\">as 2024<\/a>. More recently <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/10\/30\/this-morning-abu-dhabi-to-invest-up-to-usd-2-bn-in-indias-logistics-sector-cbuae-cuts-interest-rates-by-25-bps\/\" style=\"\">last October<\/a>, UK Finance Minister Rachel Reeves had said one would be reached \u201cvery soon.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Dar Al Balad will start trading on Tadawul\u2019s main index today<\/strong>, after the IT service outfit saw strong demand for both its institutional and retail tranches. We will be watching closely how the first GCC IPO after the Iran War will perform on its first day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1162.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In a market defined by geopolitical risk, inflation, currency volatility, and declining interest rates, knowing how to manage your money has never been more important, and yet few people are really good at it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The default in Egypt has traditionally been to dollarize, buy real estate, or stash your extra cash in a high-yield certificate of deposit, but that playbook is dying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">With an illiquid real estate market, the era of ultra high-yield deposits coming to an end, and a rapidly expanding ecosystem of digital investment options, investors are looking for new, smarter opportunities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In this four-part series, <strong>EnterpriseAM Money Matters<\/strong> will walk you through smart personal finance decisions regardless of your age, income, or starting point.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/eg\/\" style=\"\">Subscribe to our Egypt edition<\/a> and take the first step toward making your money work harder \u2014 delivered to your inbox today at 12pm UAE. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>TECH \u2014 Humain taps Goldman Sachs for data-center financing push: <\/strong>PIF-owned AI champion Humain reportedly hired Goldman Sachs to advise on a financing package of at least SAR 20 bn to build out data centers in the Riyadh area, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/saudi-arabias-humain-picks-goldman-sachs-advise-data-centre-financing-sources-2026-05-19\/\" style=\"\">Reuters<\/a> reports, citing sources it says are in the know.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The money will go toward data center infrastructure and GPU chips for 2 GW of capacity<\/strong> \u2014 about a third of Humain\u2019s 2034 target.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why bring in Goldman now? <\/strong>The numbers are getting too big. The IEA <a target=\"_blank\" href=\"https:\/\/iea.blob.core.windows.net\/assets\/3179f7f8-01f6-4dd6-bffa-c9f7b73f1dc9\/KeyQuestionsonEnergyandAI.pdf\" style=\"\">recently put global<\/a><a target=\"_blank\" href=\"https:\/\/iea.blob.core.windows.net\/assets\/3179f7f8-01f6-4dd6-bffa-c9f7b73f1dc9\/KeyQuestionsonEnergyandAI.pdf\" style=\"\">data center investment needs<\/a> at USD 3.9 tn between 2026 and 2030, calling it \u201ctoo large to be funded solely from the balance sheets of AI companies.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Humain has been moving quickly<\/strong>, striking agreements with Elon Musk\u2019s xAI (where it <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/02\/19\/humain-becomes-minority-shareholder-in-spacex-xai-merger\/\" style=\"\">holds a<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/02\/19\/humain-becomes-minority-shareholder-in-spacex-xai-merger\/\" style=\"\">minority stake<\/a>), Blackstone-backed <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/22\/humain-advances-toward-capacity-target\/\" style=\"\">AirTrunk<\/a>, and a separate AI zone partnership with Amazon Web Services (AWS).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Iran war wrinkle: <\/strong>The financing push comes despite fresh regional security concerns after Iranian drones <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/02\/iran-threats-blur-the-line-between-tech-infrastructure-and-military-targets\/\" style=\"\">struck AWS data centers<\/a> in the UAE and Bahrain. AWS is still pressing ahead with its multi-USD bn investment alongside Humain \u2014 a signal that hyperscalers are wagering that the Kingdom's interior geography and cheap energy outweigh the headline risk for now.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>Saudi is racing the UAE and Qatar to position itself as the Gulf\u2019s compute hub, pitching cheap power to the likes of Google, Microsoft, and Meta. The PIF has also been on a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/04\/shifting-the-gigaproject-focus\/\" style=\"\">recalibration push<\/a>, scaling back some gigaprojects to liberate capital for high-return sectors, especially AI and tech.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>DEBT WATCH \u2014 Alinma Bank is tapping the USD debt market <\/strong>with a USD-denominated sustainable AT1 issuance, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=95508&anCat=1&cs=1150&locale=en\" style=\"\">Tadawul disclosure<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This will be Alinma\u2019s second issuance this month.<\/strong> The shariah-compliant lender <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/27\/hassan-allam-albawani-to-work-on-usd-490-mn-museum-of-contemporary-art\/\" style=\"\">kicked off<\/a> an issuance of SAR-denominated AT1 sukuk earlier this month under an existing SAR 5 bn program. The issuance ended on Sunday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>Regional issuers are leaning into international markets to strengthen their capital base while pricing windows remain open. <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/11\/25\/corporates-will-turn-to-global-debt-markets-as-investment-needs-overwhelm-internal-funding-resources-sp\/\" style=\"\">S&P<\/a> had expected domestic banks\u2019 net external debt to rise to 6% of total loans by end-2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The debt drive comes after a solid opening to the year:<\/strong> Alinma\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/26\/earnings-season-reaches-its-peak\/\" style=\"\">1Q<\/a> net income rose 11.3% y-o-y to SAR 1.7 bn, buoyed by expanding financing and investment portfolios. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>The bank tapped Abu Dhabi Islamic Bank, Alinma Capital, Arqaam Capital, ASB Capital, Citi, DBS Bank, Emirates NBD Capital, First Abu Dhabi Bank, Goldman Sachs, JPMorgan, Mashreq, Standard Chartered, and Warba Bank as joint lead managers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>REAL ESTATE \u2014<\/strong> <strong>Saudi<\/strong><strong> Arabia plans to issue up to SAR 150 bn (USD 40 <\/strong><strong>bn) in international real estate sukuk by 2030<\/strong>, Housing Minister Majed Al Hogail told the Arabic press (<a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/133279\/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%A5%D8%B5%D8%AF%D8%A7%D8%B1-%D8%B5%D9%83%D9%88%D9%83-%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D8%A9-%D8%A8%D9%86%D8%AD%D9%88150-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%B1%D9%8A%D8%A7%D9%84-%D8%AD%D8%AA%D9%89-2030\/\" style=\"\">watch, runtime: 1:20<\/a>). The government aims to debut the program this year with an initial SAR 20 bn tranche, provided global geopolitical tensions settle and borrowing costs decline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters: <\/strong>The pivot to international debt markets is a move from the Kingdom to shoulder the domestic banking sector as it needs more funds to finance the national housing boom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The annual trend: <\/strong>Saudi Real Estate Refinance tapped international markets <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/24\/src-to-list-usd-2-bn-sukuk-on-the-london-stock-exchange\/\" style=\"\">last year<\/a> with a USD 2 bn issuance that was 6x oversubscribed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ENERGY \u2014 The proposed<\/strong> <strong>US-Saudi<\/strong><strong> nuclear cooperation agreement is reportedly in \u201cfinal <\/strong><strong>review<\/strong>,\u201d but does not include key guardrails called for by Democratic lawmakers, according to a State Department letter seen by <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/us-nuclear-power-pact-with-saudi-arabia-lacks-strict-guardrails-letter-says-2026-05-19\/\" style=\"\">Reuters<\/a>. The pact will establish a \u201clegal foundation\u201d for a \u201cUSD multi-bn civil nuclear partnership,\u201d according to the letter, which did not divulge further details. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The agreement will take effect within 90 days of being approved by President Donald Trump, unless the US Senate and the House of Representative pass resolutions to impede it. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know so far: <\/strong>The proposed pact <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/02\/23\/this-morning-us-saudi-nuclear-pact-could-grant-riyadh-enrichment-rights\/\" style=\"\">could potentially permit<\/a> the Kingdom to acquire uranium enrichment technology or capabilities, as well as enable cooperation in fuel fabrication and reprocessing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Data point<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>USD<\/strong><strong> 149.6 bn \u2014 that\u2019s where Saudi Arabia\u2019s US Treasuries holdings <\/strong><strong>stood <\/strong><strong>in March<\/strong>, down USD 10.8 bn m-o-m, according to <a target=\"_blank\" href=\"https:\/\/ticdata.treasury.gov\/resource-center\/data-chart-center\/tic\/Documents\/slt_table5.html\" style=\"\">data<\/a> from the US Treasury Department. The dip serves as a sharp reversal from the record monthly increase seen in <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/20\/more-locals-to-fill-marketing-and-sales-roles\/\" style=\"\">February<\/a>. The Kingdom nonetheless maintained its position as the 17th largest foreign holder of US debt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The decrease was driven by a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/ticdata.treasury.gov\/resource-center\/data-chart-center\/tic\/Documents\/slt_table3.html\" style=\"\">drop<\/a><\/strong><strong> in short-term Treasuries<\/strong>, which declined 22% m-o-m to USD 42.6 bn, reducing our share of total holdings to 28.5% from 34% in February. Long-term bonds edged up a slight 1.1% to USD 106.9 bn, accounting for 71.5% of the portfolio.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel and Hassan Allam Properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\">logistics<\/a> industry, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\">MENA <> India<\/a> corridor?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/newsletters\/\" style=\"\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The big story abroad <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>With Kevin Warsh poised to take the helm of the Federal Reserve this Friday<\/strong>, business headlines are focusing on <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-19\/surging-bond-yields-add-to-pressures-building-for-fed-s-warsh?srnd=homepage-middle-east\" style=\"\">rising treasury yields<\/a> that could complicate his expected dovish agenda. Investors may demand higher returns for long-term debt, especially amid rising energy prices, a resilient economy, and the highest yield on treasuries in almost 20 years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, in the tech world: <\/strong>Google is further integrating AI in its search function while introducing what it calls <a target=\"_blank\" href=\"https:\/\/blog.google\/innovation-and-ai\/sundar-pichai-io-2026\/#agents\" style=\"\">Gemini Spark<\/a>, an AI \u201cagent\u201d that is designed to function independently and act on a user\u2019s behalf. The tech giant is also rolling out smart glasses that will include a camera and speaker in a bid to challenge moves made by its rival Meta.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And speaking of AI: <\/strong>Standard Chartered <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ff678495-2a99-4a70-a340-31c0f8094b4c?syn-25a6b1a6=1\" style=\"\">is looking<\/a> to slash some 8k jobs in favor of relying more heavily on AI, with cuts affecting its human resources and risk and compliance functions. The company\u2019s CEO Bill Winters has characterized the move as a shift away from \u201clower-value human capital.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO: <\/strong>Elon Musk\u2019s SpaceX has reportedly <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/legal\/government\/goldman-sachs-set-be-named-lead-left-underwriter-spacex-ipo-source-says-2026-05-19\/\" style=\"\">tapped<\/a> Goldman Sachs to lead its highly anticipated IPO, with the bank set to assume the most prominent spot among the underwriters involved. Goldman and Morgan Stanley will reportedly be serving as lead bankers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>LIV Golf s<\/strong><strong>liding into bankruptcy? <\/strong>Weeks after <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/03\/pif-cuts-the-liv-golf-cord\/\" style=\"\">losing its backing<\/a> from the Public Investment Fund, LIV Golf is <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-19\/liv-golf-begins-potential-bankruptcy-plans-for-end-of-season\" style=\"\">reportedly exploring<\/a> a US bankruptcy filing as a worst-case scenario if its search for new capital falls short. The golf league is looking for investors before the season ends in August.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good news for Arsenal fans: <\/strong>For the first time in 22 years, Arsenal FC <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8cb026eb-5141-426e-af4f-611406077ab4?syn-25a6b1a6=1\" style=\"\">took home<\/a> the Premier League championship after Manchester City tied in yesterday\u2019s showdown with Bournemouth. The Gunners, under the leadership of Mikel Arteta, have secured a total of 82 points.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/alinma-bank\/\">Alinma Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/data-center\/\">Data center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/humain\/\">Humain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sukuk\/\">sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109197\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/108985.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>The Luxury of Certainty<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109198\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109198\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">REAL ESTATE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/residential-real-estate-sales-plunge-in-1q-on-affordability-war-uncertainty\/\">\r\n                            Saudi\u2019s 1Q housing slump                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/residential-real-estate-sales-plunge-in-1q-on-affordability-war-uncertainty\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/911.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109199\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/residential-real-estate-sales-plunge-in-1q-on-affordability-war-uncertainty\/911-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/911.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"911.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/911.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/3\/911.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109198\" class=\"content-area-description single-story post-109198 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate tag-enterpriseam-ksa tag-news-lead tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Kingdom\u2019s residential market shrank by more than half in 1Q 2026<\/strong>, as the war compounded an affordability squeeze that prompted the government to step in last year. Residential sales in Saudi Arabia were down 53% y-o-y in the first quarter, according to data from the Justice Ministry tracked by Knight Frank.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The slowdown was already underway before missiles started flying in late February<\/strong>, as housing affordability is at the heart of declining activity rather than geopolitics, Knight Frank MENA research head Faisal Durrani tells EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh tells the clearest version of that story.<\/strong> Apartment prices in the capital have nearly doubled since 2019, and villa prices have climbed by over 50%, Durrani says. Meanwhile, \u201cincomes have not kept pace with this level of house price growth, which has curbed [transaction] volumes.\u201d Sales activity in the capital fell 83% y-o-y in 1Q, much higher than the 53% national decline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war hardened a <\/strong><strong>\u201cwait-and-see\u201d<\/strong><strong> stance among buyers.<\/strong> \u201cIt is understandable that families and households are reluctant to commit to what may be their largest ever financial commitment during a time of such heightened regional geopolitical uncertainty,\u201d Durrani adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war\u2019s timing was awkward for the Kingdom\u2019s foreign-buyer push.<\/strong> New rules opening the property market to foreign investors took effect in January, with the government targeting USD 85 bn in annual foreign property inflows by 2030. The map detailing where foreigners can buy was initially due in 1Q but has yet to be published.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The government has been <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/31\/the-big-reform\/\" style=\"\">working<\/a> on a diverse set of real estate reforms to face the soaring real estate prices, including Riyadh\u2019s rent freezes, a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/14\/vacant-property-tax-regulations-near-enforcement\/\" style=\"\">vacant property tax regime<\/a>, a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/24\/final-regs-for-white-land-tax-law-are-out\/\" style=\"\">10% white land tax<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/268e8967-967e-47b8-b55b-e66f743e2692\/non-saudis-to-buy-saudi-property-%25e2%2580%2594-under-a-few-conditions\" style=\"\">easing foreign ownership rules<\/a>. This strategy seems to be starting to pay off as the Real Estate Price Index recorded its first annual decline in five years in <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/01\/22\/real-estate-price-index-declines-for-the-first-time-in-five-years\/\" style=\"\">4Q 2025<\/a>, and continuing a cooling trend <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/21\/real-estate-prices-fall-further-easing-1-6-in-1q-2026\/\" style=\"\">1Q 2026<\/a>, with the residential sector accounting for the bulk of the downturn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The medium-term outlook still points to a housing shortage<\/strong>, Durrani says. Saudi Arabia will require an estimated 830k housing units by 2034 just to meet population growth needs, he tells us. The present challenge for developers is alignment, as supply must better match household budgets so that affordability continues to anchor the market slowdown.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DATA POINT- <\/strong>Knight Frank research puts the ceiling Saudi nationals are willing to pay at SAR 1.5 mn per home, while high-net-worth foreign buyers will stretch to around USD 1 mn (SAR 3.75 mn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The Real Estate General Authority and the Justice Ministry have restricted real estate transactions in Riyadh exclusively to the Real Estate Registry, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/ar\/article\/articledetail\/id\/1907170\" style=\"\">Argaam<\/a> reports. This applies to ownership transfers, updating title deeds, mortgage services, and more. Rollouts to other cities will take place sequentially based on readiness.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>The authority recently <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/14\/this-morning-aramco-explores-usd-10-bn-sale-and-leaseback-of-its-real-estate-portfolio\/\" style=\"\">completed<\/a> the registration of all real estate zones within Riyadh's urban areas, finalizing the city's digital map on the platform.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/news-lead\/\">News Lead<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/real-estate\/\">Real Estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109200 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"109200\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/109200\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109200\" class=\"content-area-description single-story post-109200 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/web.facebook.com\/HassanAllamProperties\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/798.jpeg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109201\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109201\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/funding-gaps-portfolio-pivots-and-ais-shift-in-mena-venture-capital\/\">\r\n                            Sharakah Capital\u2019s blueprint for MENA\u2019s early-stage tech scene                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/funding-gaps-portfolio-pivots-and-ais-shift-in-mena-venture-capital\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/funding-gaps-portfolio-pivots-and-ais-shift-in-mena-venture-capital\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/funding-gaps-portfolio-pivots-and-ais-shift-in-mena-venture-capital\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Funding gaps, portfolio pivots, and AI\u2019s shift in MENA venture capital&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/funding-gaps-portfolio-pivots-and-ais-shift-in-mena-venture-capital\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/funding-gaps-portfolio-pivots-and-ais-shift-in-mena-venture-capital\/&title=Funding gaps, portfolio pivots, and AI\u2019s shift in MENA venture capital\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Funding+gaps%2C+portfolio+pivots%2C+and+AI%E2%80%99s+shift+in+MENA+venture+capital+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F05%2F20%2Ffunding-gaps-portfolio-pivots-and-ais-shift-in-mena-venture-capital%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/funding-gaps-portfolio-pivots-and-ais-shift-in-mena-venture-capital\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1183.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109202\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/funding-gaps-portfolio-pivots-and-ais-shift-in-mena-venture-capital\/1183-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1183.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1183.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1183.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1183.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109201\" class=\"content-area-description single-story post-109201 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam-ksa tag-investment-watch tag-sharaka-capital tag-startup-watch tag-vc-2 wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The next three years<\/strong><strong> could open a major window for regional venture capital <\/strong><strong>firms to deepen their footprint across MENA <\/strong>as international growth investors continue to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/07\/saudi-vcs-step-in-to-fill-a-foreign-investor-gap\/\" style=\"\">pull back<\/a> from the market on global macroeconomic shifts and geopolitical risks, Latifa Banasr, partner at boutique investment firm <a target=\"_blank\" href=\"https:\/\/sharaka.sa\/\" style=\"\">Sharakah Capital<\/a>, tells EnterpriseAM. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growth-stage blues vs. early-stage cruise: <\/strong>The retreat of global investors such as SoftBank and General Atlantic has left a noticeable funding gap in growth-stage capital across the region. But Banasr says early-stage funding has been only \u201cnegligibly affected\u201d by the pullback. \u201cWe\u2019re very lucky that in MENA specifically, early stage requires local expertise,\u201d she says. \u201cThe next three years will be a [chance] for us \u2014 local VCs and MENA-based VCs \u2014 to grab as many [prospects] out of the market and nurture them to attract international investors down the line.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>To position itself for that shift<\/strong>, Sharakah expanded the mandate of its second venture fund to cover seed through Series A investments, broadening its early-stage exposure beyond the seed-stage focus of its first, fully deployed fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What geopolitics hasn\u2019t touched are long-term priorities: <\/strong>While tensions have reshaped investor sentiment across the region, Banasr says the Sharakah\u2019s investment priorities have remained largely intact, with Saudi Arabia continuing to anchor its strategy. \u201cWith the war and the geopolitical changes, the only thing we\u2019ve been cognizant of is the sustainability of operations and interruptions,\u201d she says. \u201cWe are 100% wholeheartedly invested in the region, and that will not change.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the tech trio is as appealing as ever: <\/strong>Sharakah remains focused on core sectors like fintech, AI, and cybersecurity, which Banasr says have remained relatively insulated from physical disruptions and continue to account for 30% of global trade and investment activity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">What to watch<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe disruption that we\u2019re most focused on is the AI disruption<\/strong>,\u201d Banasr tells us. While around 60% of Sharakah Capital\u2019s investment thesis for its second fund centers on fintech, vertical SaaS, and ecommerce startups, the firm now evaluates every SaaS company through the lens of AI disruption and defensibility. \u201cEvery time we meet a SaaS company, we ask: \u2018How much of this company is improved or disrupted by AI of their core product and offering?\u2019,\u201d she says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What it looks for: <\/strong>Sharakah Capital prioritizes startups that use machine learning and automation as core infrastructure, while steering away from \u201ccopycat\u201d software models in favor of companies with stronger technological defensibility, particularly in regulated sectors like fintech. \u201cAI and the AI disruption is one of the things that makes me super excited as an investor,\u201d says Banasr. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beyond VC<\/strong>, Sharakah Capital expanded its strategy last year by launching a sell-side advisory arm focused on facilitating M&A for SMEs in Saudi Arabia. Banasr says the move was designed to address fundraising bottlenecks facing startups that are often unable to secure backing due to portfolio conflicts among regional VCs. \u201cA lot of good startups are faced with the idea that \u2018I can\u2019t invest in you just because I invested in a competitor,\u2019\u201d she says. The firm has already advised on agreements including Ibn Dawood Holding\u2019s acquisition of Faza and a transaction involving Al Khozama.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sharaka-capital\/\">Sharaka Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/vc-2\/\">VC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109203 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"109203\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/109203\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109203\" class=\"content-area-description single-story post-109203 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109204\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109204\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">CABINET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/saudi-cabinet-greenlights-gcc-railway-plans\/\">\r\n                            GCC railway gets cabinet green light                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/saudi-cabinet-greenlights-gcc-railway-plans\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/saudi-cabinet-greenlights-gcc-railway-plans\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/saudi-cabinet-greenlights-gcc-railway-plans\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi cabinet greenlights GCC railway plans&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/saudi-cabinet-greenlights-gcc-railway-plans\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/saudi-cabinet-greenlights-gcc-railway-plans\/&title=Saudi cabinet greenlights GCC railway plans\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+cabinet+greenlights+GCC+railway+plans+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F05%2F20%2Fsaudi-cabinet-greenlights-gcc-railway-plans%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/saudi-cabinet-greenlights-gcc-railway-plans\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1543.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109205\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/saudi-cabinet-greenlights-gcc-railway-plans\/1543-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1543.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1543.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1543.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1543.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109204\" class=\"content-area-description single-story post-109204 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam-ksa tag-logistics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The cabinet approved the Kingdom\u2019s accession to the GCC railway agreement<\/strong> in a session held yesterday, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2590780\" style=\"\">SPA<\/a> reports. The decision moves the long-discussed Gulf rail network \u2014 first floated more than a decade ago \u2014 closer to execution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- <\/strong>The project is a 2.1k-km railway that aims to link the six GCC member states. Numerous delays have long stalled the railway, which was projected to cost some USD 15 bn back in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The war seems to have put some urgency on the project.<\/strong> Saudi Arabia Railways launched a tender for design consultancy services for its portion of the railway <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/13\/this-morning-did-saudi-retaliate-against-iran\/\" style=\"\">last week<\/a>, and Kuwait <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/14\/this-morning-aramco-explores-usd-10-bn-sale-and-leaseback-of-its-real-estate-portfolio\/\" style=\"\">approved<\/a> the right-of-way and land allocation for the rail link connecting Kuwait to Saudi Arabia as part of the project.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM THE SESSION- Security messaging stays firm:<\/strong> The cabinet reiterated that Saudi Arabia \u201cwill not hesitate\u201d to take whatever steps are needed to protect its security and residents. Ministers also backed the outcomes of the emergency GCC interior ministers\u2019 meeting held in Riyadh, which reaffirmed that Gulf security is \u201cindivisible\u201d and called for tighter coordination on regional challenges.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Whistleblower protections finalized:<\/strong> The cabinet approved the executive regulations for the system protecting whistleblowers, witnesses, experts, and victims.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/cabinet-watch\/\">CABINET WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109206\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109206\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/americana-in-adnoc-stations-local-firms-awarded-gravel-sites-fintech-arib-raises-usd-23-5-mn\/\">\r\n                            Americana in Adnoc stations, Local firms awarded gravel sites, Fintech Arib raises USD 23.5 mn                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/americana-in-adnoc-stations-local-firms-awarded-gravel-sites-fintech-arib-raises-usd-23-5-mn\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The partnership, inked between the restaurant operator and Adnoc Distribution, brings Americana\u2019s portfolio of 12 global brands into Adnoc\u2019s fuel retail network across the three markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For Americana Restaurants<\/strong>, the agreement opens access to high-traffic roadside and service station locations across regional markets, supporting network expansion beyond traditional malls and high-street sites. The company currently operates around 2.7k restaurants. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For Adnoc<\/strong>, the agreement supports its push to grow non-fuel revenue as it works toward doubling non-fuel transactions by 2030. The segment has already become an important earnings driver, with non-fuel gross income rising more than 14% y-o-y in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Industry Ministry taps local firms for Al Saman gravel mining projects<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Industry and Minerals Resources Ministry awarded 11 local <\/strong><strong>companies mining sites<\/strong> in the Eastern Province\u2019s Al Saman Crushers Complex, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2588749\" style=\"\">SPA<\/a> reports. The sites, covering a combined area of 9 sq km, are designated for gravel extraction to support construction and development projects, as the Kingdom looks to secure raw materials for its infrastructure pipeline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Fintech Arib secures USD 23.5 mn backing from Merak Capital<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi<\/strong><strong> fintech <\/strong><strong><a target=\"_blank\" href=\"https:\/\/arib.com.sa\/en\/\" style=\"\">Arib<\/a><\/strong> <strong> raised USD 23.5 mn in a funding round led by Merak Capital<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2026\/05\/arib-targets-saudi-digital-lending-boom-23-5m-funding-round\" style=\"\">press release<\/a>. The round also included shariah-compliant Murabaha financing facilities. Arib said the proceeds will be used to upgrade its technology infrastructure, expand operations, and roll out new financing products targeting consumers and businesses. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Arib: <\/strong>Founded in 2018 by Omar Alhammad, Mohamed Dessouky, and Waleed Talaat, Arib operates an online financing marketplace that connects users with banks and licensed lenders, allowing customers to compare and apply for financing offers digitally. Arib previously raised USD 2.3 mn in a seed round in 2022, also led by Merak Capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Connecting Yanbu, Jeddah, Ain Sokhna, and Aqaba<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Folk Maritime <\/strong><strong>has launched its Red Sea Express shipping service in Yanbu\u2019s King <\/strong><strong>Fahad Industrial Port<\/strong>, connecting the port to Jeddah Islamic Port, Egypt\u2019s Ain Sokhna Port, and Jordan\u2019s Aqaba Port, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/MawaniKSA\/status\/2056741893623414784\" style=\"\">statement<\/a> from Mawani. The service has a 1.1k standard container capacity.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/adnoc-distribution\/\">Adnoc Distribution<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/americana-restaurants\/\">Americana Restaurants<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/startup-watch\/\">STARTUP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109208\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109208\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/adanis-regulatory-unlock-lands-four-days-after-modis-uae-visit\/\">\r\n                            The USD 10 bn ticket out                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/adanis-regulatory-unlock-lands-four-days-after-modis-uae-visit\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/adanis-regulatory-unlock-lands-four-days-after-modis-uae-visit\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/adanis-regulatory-unlock-lands-four-days-after-modis-uae-visit\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Adani\u2019s regulatory unlock lands four days after Modi\u2019s UAE visit&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/adanis-regulatory-unlock-lands-four-days-after-modis-uae-visit\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/adanis-regulatory-unlock-lands-four-days-after-modis-uae-visit\/&title=Adani\u2019s regulatory unlock lands four days after Modi\u2019s UAE visit\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Adani%E2%80%99s+regulatory+unlock+lands+four+days+after+Modi%E2%80%99s+UAE+visit+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F05%2F20%2Fadanis-regulatory-unlock-lands-four-days-after-modis-uae-visit%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/adanis-regulatory-unlock-lands-four-days-after-modis-uae-visit\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1189.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109209\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/adanis-regulatory-unlock-lands-four-days-after-modis-uae-visit\/1189-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1189.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1189.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1189.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1189.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109208\" class=\"content-area-description single-story post-109208 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>In the span of a few hours on Monday, the case against Asia\u2019s richest man fell <\/strong><strong>apart. <\/strong>The US Department of Justice moved to drop criminal fraud charges against Gautam Adani \u201cwith prejudice\u201d \u2014 meaning they cannot be refiled \u2014 while the US Treasury Department simultaneously resolved a sanctions-related probe involving Adani Enterprises with a USD 275 mn settlement, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-18\/doj-seeks-to-drop-us-criminal-charges-against-gautam-adani\" style=\"\">Bloomberg<\/a> reports. The SEC\u2019s civil fraud case settled the week prior for USD 18 mn in penalties. The reported price of relief? A USD 10 bn investment pledge in the US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Adani Group entered the courtroom on Monday with USD 29 bn in net debt, 41% of which it owed to global banks and capital markets<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/05\/15\/us-sec-settlement-gautam-adani-sagar-adani-fraud-case.html\" style=\"\">CNBC<\/a> reports. It left the courtroom with access to the international capital markets, which had been restricted for nearly 18 months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Timing is everything: <\/strong>Adani\u2019s clearance comes only four days after Indian Prime Minister Narendra Modi touched down in the UAE for a visit that <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/18\/india-uae-map-out-frameworks-for-cooperation-in-defense-tech-energy\/\" style=\"\">produced a pile of agreements<\/a> across banking, sovereign infrastructure co-investment, shipping repair, and AI. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Adani Group sits inside nearly every category discussed during the visit. <\/strong>The conglomerate manages logistics infrastructure across multiple GCC trade corridors and runs the ports, power, and renewables platforms that absorb a meaningful share of GCC-India physical trade. The sanctions overhang on the corridor\u2019s largest single non-state infrastructure player was a binding constraint that has now been lifted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The implications of the ruling unravel in different directions. <\/strong>For GCC sovereign wealth funds, the Adani resolution <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/05\/15\/this-afternoon-mubadala-backed-manipal-hospitals-gears-up-for-usd-1-bn-listing\/\" style=\"\">clears a counterparty risk<\/a> that has quietly been impacting co-investment discussions for the past year and a half. The next round of deployments \u2014 into ports, logistics, renewables, transmission, and data centers \u2014 is where Adani inevitably appears as a partner, and that round was on hold. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Second, the Dubai-based trading intermediary at the center of the Treasury sanctions settlement serves as an enforcement precedent.<\/strong> The probe focused on LPG allegedly originating in Iran but documented as Omani or Iraqi and channeled through a Dubai trader. Now, every GCC commercial player in the India-bound energy trade will be expected to absorb tighter compliance costs at exactly the moment the corridor is being scaled.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Third, the USD 10 bn US investment pledge is the template.<\/strong> It is the cost-of-doing-business price for regulatory relief for a non-US conglomerate with deep US capital markets exposure. Every globally significant Gulf or Indian entity facing similar pressure \u2014 and there may be more, given the war\u2019s pressure on trade flows through Hormuz, Fujairah, and the Red Sea \u2014 now has a reference point.<\/p>\n<p class=\"tag-border-left\"> MARKETS THIS MORNING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Asia-Pacific markets are down this morning<\/strong>, with investors adopting a wait-and-see approach as they digest higher bond yields and geopolitical tensions. Japan\u2019s Nikkei is down 1.7% and South Korea\u2019s Kospi is down almost 2%.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table markets-table'>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,982<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.2% (YTD: +4.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">1,469<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +5.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">22,743<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: -2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Sell<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">4.25% repo <\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">3.75% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">52,775<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.5% (YTD: +26.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>ADX <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">9,649<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: -3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>DFM <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,662<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.9% (YTD: -6.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">7,354<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7% (YTD: +7.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>FTSE 100 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">10,331<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+0.1% (YTD: +4.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">5,851<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: +1.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Brent crude <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 111.28<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 3.11<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 4,484<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>BTC <\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">USD 76,740<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.4% (YTD: -12.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>Sukuk\/bond market index<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">909.44<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">0.0% (YTD: -1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>S&P MENA Bond & Sukuk<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">149.98<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">-0.2% (YTD: -1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">18.06<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\" style=\"border-right-style:solid;padding:5pt 5pt 5pt 5pt;border-bottom-border-top-width:1pt;border-right-width:1pt;border-left-border-right-border-left-width:1pt;border-top-style:solid;border-left-style:solid;border-bottom-width:1pt;width:139.2pt;border-top-border-bottom-style:solid\">\n<p style=\"padding:0;margin:0;line-height:1.15;text-align:left\">+1.4% (YTD: +20.8%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The TASI <\/strong>rose 0.2% yesterday on turnover of SAR 4.7 bn. The index is up 4.7% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Sasco (+10.0%), Tadco (+5.9%), and Savola Group (+4.8%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red: <\/strong>Bupa Arabia (-4.0%), Almoosa (-3.1%), and Thimar (-3.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The NomuC<\/strong> rose 0.1% yesterday on turnover of SAR 25.3 mn. The index is down 2.4% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the green:<\/strong> Munawla (+15.0%), Future Vision (+12.5%), and Service Equipment (+12.0%).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the red:<\/strong> Horizon Food (-7.9%), Leen Alkhair (-6.7%), and Arabica Star (-6.1%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109210\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/20\/109210\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109210\" class=\"content-area-description single-story post-109210 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24-28 May (Sunday-Thursday): Eid Al Adha holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 June (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aluminium-exhibition.com\/arabia\/en-gb.html\" style=\"\">Aluminum Arabia<\/a><\/span><span style=\"font-weight:400;\">, The Arena, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudifoodexpo.com\/\" style=\"\">Saudi Food Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Expo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-pp.com\/\" style=\"\">Saudi Print & Pack<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/riyadhiiw.com\/\" style=\"\">Riyadh International Industry Week<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudipp.com\/\" style=\"\">Saudi Plastics & Petrochem<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smartlogistics.com\/\" style=\"\">Saudi Smart Logistics<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22-24 June (Monday-Wednesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futurehospitality.com\/sa\" style=\"\">Future Hospitality Summit<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6 July-23 August (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/posts\/mike-mccabe-600532_esportsworldcup-ewc2026-esports-activity-7383046360637456384-FXWl?utm_source=share&utm_medium=member_desktop&rcm=ACoAADcc9s0BqbX_KIfcdiR9Co3ThUUfykvz4-o\" style=\"\">Esports World Cup<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 August-1 September (Sunday-Tuesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudientertainmentexpo.com\/?utm_source=google&utm_medium=organic&utm_campaign=seo\" style=\"\">Saudi Entertainment and Amusement Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition and Conference Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 August-3 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/onegiantleap.com\/\" style=\"\">Leap Tech Conference<\/a><\/span><span>, Riyadh Exhibition & Convention Center - Malham.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-10 September (Tuesday-Thursday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wtm.com\/spotlight-riyadh\/en-gb\/visit.html\" style=\"\">WTM Spotlight Riyadh<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition & Conference Center (RFECC), Riyadh<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 September (Tuesday-Thursday) The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalaisummit.org\/en\/Pages\/About.aspx\" style=\"\">Global AI Summit<\/a><\/span><span style=\"font-weight:400;\">, King Abdulaziz International Convention Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 September (Wednesday): Saudi National Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28 September-1 October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.icegov.org\/2026\/\" style=\"\">The International Conference on Theory and Practice of Electronic Governance (ICEGOV)<\/a><\/span><span style=\"font-weight:400;\">, Prince Sultan University, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-15 October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldenergy.org\/experiences-events\/world-energy-congress\" style=\"\">World Energy Congress<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 October (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/achema-middle-east.ksa.messefrankfurt.com\/ksa\/ppc.html?utm_source=ppc-landingpage&utm_medium=cpc&utm_campaign=kreativeclan_brand_exact_MENA_GCC&utm_content=homepage&gad_source=1&gad_campaignid=23591771694&gbraid=0AAAABBPuheGu3HUwCgxv7inX_RLac-B3S&gclid=CjwKCAiA2PrMBhA4EiwAwpHyC5npsmz5GRyYSeppI3k19DPZWLNG42F9H46N02ivlImv5gKzFI9D5RoCQGUQAvD_BwE\" style=\"\">ACHEMA Middle East<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 October (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cipsmenaconferenceandawards.com\/\" style=\"\">Procurement and Supply Chain Futures Forum<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 October (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.rscforum.com\/\" style=\"\">Real Estate Supply Chain Forum<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-29 November (Wednesday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sandnfun.com\/en\/\" style=\"\">Aero Middle East and Sand & Fun<\/a><\/span><span style=\"font-weight:400;\">, Thumamah Airport, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Signposted to happen sometime in 2026:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">2H: Sabic\u2019s USD 6.4 bn Fujian project in China to start production;<\/span><\/li>\n<li><span>September: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudisignageexpo.com\/saudi-paper-packaging-expo-2026\/\" style=\"\">Saudi Paper and Packaging Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center;<\/span><\/li>\n<li><span style=\"font-weight:400;\">November: The UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia;<\/span><\/li>\n<li><span style=\"font-weight:400;\">November: The Esports Nations Cup, Riyadh; <\/span><\/li>\n<li><span>The World Economic Forum\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.weforum.org\/press\/2026\/01\/annual-meeting-2026-a-spirit-of-dialogue-ceb3ae9c08\/#:~:text=The%20Global%20Collaboration%20and%20Growth%20Meeting%20will%20be%20held%20in%20Jeddah%2C%20Saudi%20Arabia%20on%2022%2D23%20April%202026.\" style=\"\">Global Collaboration and Growth Meeting<\/a><\/span><span style=\"font-weight:400;\">, Jeddah;<\/span><\/li>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.skymovemena.com\/\" style=\"\">SkyMove Air Cargo MENA<\/a><\/span><span style=\"font-weight:400;\">, Riyadh; <\/span><\/li>\n<li><span>The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/intervision.world\/en\/\" style=\"\">Intervision<\/a><\/span><span style=\"font-weight:400;\"> international music competition will take place in Saudi Arabia.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Signposted to happen sometime in 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The World Water Forum <\/span><span style=\"font-weight:400;\">takes place in Riyadh;<\/span><\/li>\n<li><span style=\"font-weight:700\">The Ocean Race<\/span><span style=\"font-weight:400;\"> finishes in Amaala on the Red Sea;<\/span><\/li>\n<li><span style=\"font-weight:700\">Riyadh-Kudmi transmission line<\/span><span style=\"font-weight:400;\"> to be completed;<\/span><\/li>\n<li><span style=\"font-weight:700\">Capital Markets Forum<\/span><span style=\"font-weight:400;\"> takes place in March in Riyadh.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2Q 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The Hail Region Water Networks Project<\/span><span style=\"font-weight:400;\"> is expected to be completed.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-3 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudigazette.com.sa\/article\/660923\/saudi-arabia\/saudi-arabia-to-host-erras-24th-annual-energy-regulators-conference-in-riyadh\" style=\"\">Energy Regulators Regional Association annual conference<\/a><\/span><span>, Riyadh.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Shifting tides in MENA VC | GCC railway approved | Humain taps Goldman Sachs<\/p>\n","protected":false},"featured_media":109194,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-109193","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"048b2226-1d4d-4b98-be7a-13046852e59c","teaser":"Shifting tides in MENA VC | GCC railway approved | Humain taps Goldman Sachs","photo_url":"https:\/\/ent.news\/2026\/5\/1239.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Priced out, waiting it out - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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