Noon.com, the $1 billion e-commerce joint venture founded by Mohamed Alabbar, will be rolled out for customers in Saudi Arabia by the end of this year.
Alabbar, also chairman of Emaar Properties, said the launch in the Middle East’s largest economy will help spur a “new era in youth entrepreneurship”.
Headquartered in Riyadh, Noon is a joint venture with the Public Investment Fund and a group of prominent Gulf investors and is already live in the UAE.
On the sidelines of the Future Investment Initiative in Riyadh, Alabbar said: “We are excited to launch operations in Saudi Arabia shortly. Noon delivers on the goals of Saudi Vision 2030 with an innovative digital enterprise that is underpinned by strong public-private sector partnerships and a focus on creating high quality jobs and business opportunities for young Saudis.
“It also supports the development of the Saudi small and medium enterprises, another objective of the national transformation plan announced by His Royal Highness Crown Prince Mohammed bin Salman.”
Noon CEO Faraz Khalid added that that e-commerce platform will bring two “exceptional strengths” to the kingdom. By Staff arabianbusiness.com