SAMENA Daily News

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Regional e-commerce platform Noon to go live in Saudi Arabia

Regional e-commerce platform Noon will launch in Saudi Arabia on Tuesday, its chief executive has said.

The site, which is backed by Dubai billionaire Mohamed Alabbar and the kingdom’s sovereign wealth fund, the Public Investment Fund, launched in the United Arab Emirates at the end of September, with mobile apps being made available at the same time.

“We will go live in Saudi Arabia tomorrow and that is very exciting for us,” Faraz Khalid, the CEO of Noon told Zawya on the sidelines of a conference in Abu Dhabi on Monday.

“We have agreements with M.H. Alshaya Co and eXtra. Those partnerships are key relationships within our regional scope,” he added.

Kuwait’s retail operator M.H. Alshaya Co. acquired a strategic stake in Noon in September, but the size of investment in the business was not disclosed.