Noon Invests In Building A New Era Of Saudi Youth Entrepreneurship In Partnership With The Public Investment Fund, Says Alabbar

With Noon, the new digital marketplace with the largest assortment of products set to roll out in Saudi Arabia before the end of this year, the Kingdom will witness a new era in youth entrepreneurship, said Mohamed Alabbar, the founder of Noon. He was addressing a media briefing with Faraz Khalid, Chief Executive Officer of Noon, on the sidelines of the Future Investment Initiative in Riyadh.

Headquartered in Riyadh, Noon is a joint venture with the Public Investment Fund and a group of prominent Gulf investors, with an initial capital outlay of $1 billion.

Alabbar said that Noon is a customer-focused Arabic-first digital marketplace ‘born in Saudi Arabia,’ for the region, by the region and in the region. “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.