It has been announced that a brand new $1 billion e-commerce site Noon.com is launching in the Middle East.
Set to launch in the UAE and Saudi Arabia in January 2017 with 20 million products, Alabbar said at a press conference on Sunday 13 November at Dubai Opera, "We're turning the e-commerce environment in Middle East upside down."
Noon.com was reportedly created in just 18 months by billionaire Mohammed Alabbar, who joined forces with Saudi Arabia's Public Investment Fund to create this e-commerce platform.
The launch of this website will be a huge step forward for the region with its online shopping offerings, given that many expats in the region rely on international e-commerce sites such as Amazon.com, which offers millions of products from fashion and beauty to books and technology. It appears that this could be a move to ensure expats can find everything they want on one site within the Middle East.
Though it is not yet known what sorts of products will be stocked on Noon.com, the $1 billion e-commerce platform, with its head office in Saudi Arabia and logistics centre in Dubai World Central Al Maktoum Airport, will be "game changing" according to the entrepreneur.
Currently the website has the option to sign-up for updates, but other than short videos on social media, nothing else has been revealed about the exciting project yet.
Bring on January 2017!