The National Debt Management Center (NCMC) announced the completion of receiving investor requests for the local issuance of June 2024 within the Saudi government"s sukuk program in Saudi riyals, with the total size of the allocation set at SR4.414 billion. According to a statement issued by the Center, the issuance was divided into three tranches. The size of the first amounted to SR1.6 billion for sukuk bonds maturing in 2027, the second tranche amounted to SR53 million for bonds maturing in 2031 and the third tranche amounted to SR2.761 billion for bonds maturing in 2034. The Center announced, at the end of May 2024, the completion of an early purchase of a portion of the issuer’s outstanding entitlements in 2024, 2025, and 2026, with a total value exceeding SR63.1 billion, in addition to the issuance of new sukuk with a total value of about SR64.1 billion. The Center also divided the new sukuk issuances into three tranches. Saudi Arabia plans to expand funding activities during 2024, reaching up to a total of SR138 billion from what has been stated previously in the Annual Borrowing Plan, with a portion of this amount already covered up to date. This step comes with the aim of capitalizing on market opportunities to achieve proactive financing for the coming year and utilizing it to bolster the state"s general reserves or seize additional opportunities to enhance transformative spending during this year, thereby accelerating strategic projects and programs of Saudi Vision 2030.​​​