noon Raises $500m Co-Led by PIF-Backed Investors Ahead of Planned Dual Listing
The Middle East e-commerce giant raised $500m, including from Saudi Arabia's PIF, to fund logistics and AI as founder Mohamed Alabbar targets a Saudi-UAE dual listing in 2026-2027.
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noon, the homegrown Middle East e-commerce group, raised $500 million in new funding from backers including Saudi Arabia's Public Investment Fund. Founder Mohamed Alabbar, who chairs Emaar Properties, said the capital supports a planned dual listing in Saudi Arabia and the UAE.
noon operates marketplace, grocery and food-delivery services across Egypt, Saudi Arabia and the UAE, and was last valued near $10 billion. Alabbar flagged a potential dual listing in 2026 or 2027 as the company nears profitability.