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FINANCIAL NEWS
Saudi’s USD1bn e-commerce site to go online in Jan
16 Nov 2016
(MENAFN) The USD1bn regional e-commerce site launched in a joint venture with the Saudi sovereign wealth fund and other Gulf investors will go online in Jan.
Moreover, Noon.com will have 50 percent investment from the kingdom’s Public Investment Fund and the rest from around 60 investors led by Alabbar.
According to Emaar Co., this predicts to become a world player and will focus on Saudi Arabia and the UAE.
With a basic inventory of 20mn products, the online retailer aims to expand to Egypt, the Arab World”s most populous state by the end of 2018.
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