Riyadh – Sharikat Mubasher: Noon, the Saudi-backed e-commerce platform founded by Mohamed Alabbar, is preparing for a public listing within the next 24 months as it advances plans to roll out autonomous delivery across the Middle East, as reported by the Financial Times.
The company, valued at nearly $10 billion, operates in Saudi Arabia, the UAE, and Egypt, offering products from electronics to groceries. Since its launch in 2016 with support from Saudi Arabia’s Public Investment Fund, Noon has raised $2.7 billion and now employs about 40,000 drivers.
Alabbar said the group is “almost” profitable and is considering a dual listing in Saudi Arabia and the UAE. He noted that autonomous delivery vans and robots, expected to cut driver numbers by half by 2027, will help lower costs. Noon is also weighing acquisitions and potential expansion into India.
Despite competition from Amazon, Shein, Ikea, and the Chinese giant Meituan, Noon’s gross merchandise value reached an estimated $5–6 billion in 2024. Analysts say growth in fresh food delivery has strengthened its market position but continues to weigh on profitability.
