Noon.com, a US$1 billion e-commerce platform founded by the Emaar Properties chairman Mohamed Alabbar, has launched its operations in the UAE.
From Saturday September 30, customers can browse its catalogue of brands by visiting www.noon.com or by downloading the Noon Mobile App via Google Play Store. A mobile app via App Store will be available in the coming days.
Noon is also set to go live in Saudi Arabia “in the coming weeks”, the company said in a statement.
Mr Alabbar said: “Today, we are excited to deliver orders to our first customers. We are proud to take this important first step in our journey, and we are committed to making Noon the region’s Arabic-first e-commerce platform.”
He added: “As digital technologies cause disruptions across industries and geographies, it is important for us to shape a digital marketplace that is relevant to our local markets and serves as a growth platform for brick-and-mortar retailers.”
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Read more:
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E-commerce platform Noon hires former Namshi managing director as chief executive
E-commerce in the UAE: is 2017 the year it finally takes off?
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Its launch has been long awaited, as it had originally planned to go live in January 2017.
In July, it appointed Faraz Khalid, the co-founder of online fashion retailer Namshi.com, as its new chief executive, to help steer the company through its launch.
Noon is a joint venture project between Saudi Arabia's Public Investment Fund and a number of prominent Gulf investors.
Through partnerships with local retailers, Noon aims to provide the region’s customers with an assortment of products including electronics, fashion, beauty, baby, home & kitchen and grocery.
At launch, Noon offers a selection of fashion brands and an extensive selection of baby products and homeware. It also has a collection of modern gadgets and electronic goods targeted specifically at millennials.
Noon will also cater to the needs of book lovers, adventurers and new parents.
Last month, MH Alshaya, the Kuwaiti franchise operator which is present across the Arab world, Turkey and Russia, bought a stake in Noon, although the size of its investment was not disclosed.
MH Alshaya will list its portfolio of international brands covering fashion, health & beauty and home & lifestyle categories on Noon’s platform.
Noon announced last November that it had a warehouse the size of 60 football pitches in Dubai and a head office in Riyadh.
The e-commerce sector has been rapidly growing in the UAE thanks to the country’s affluent and digitally savvy population. Mergers and acquisitions in the sector also picked up pace over the past year.
There is a notable push by a number of home-grown brands to go beyond brick and mortar operations that have traditionally defined the retail landscape, with a pivot to develop the online shopping industry and directly challenge Amazon. And it is not just Noon that is stepping to the plate. According to Magnitt, an online start-up community, e-commerce comprised the lion’s share of deals at 16 per cent investing in start-ups in the first half of the year, followed by technology at 13 per cent and Fintech at 10 per cent.
Company%20Profile
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COMPANY%20PROFILE
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
Company%20Profile
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COMPANY%20PROFILE%20
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
SPECS
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COMPANY%20PROFILE
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Company%20Profile
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UAE currency: the story behind the money in your pockets
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20HyveGeo%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Abdulaziz%20bin%20Redha%2C%20Dr%20Samsurin%20Welch%2C%20Eva%20Morales%20and%20Dr%20Harjit%20Singh%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ECambridge%20and%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ESustainability%20%26amp%3B%20Environment%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%24200%2C000%20plus%20undisclosed%20grant%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVenture%20capital%20and%20government%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
COMPANY%20PROFILE%20
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CRICKET%20WORLD%20CUP%20LEAGUE%202
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Company%20profile
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The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
COMPANY%20PROFILE
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Country-size land deals
US interest in purchasing territory is not as outlandish as it sounds. Here's a look at some big land transactions between nations:
Louisiana Purchase
If Donald Trump is one who aims to broker "a deal of the century", then this was the "deal of the 19th Century". In 1803, the US nearly doubled in size when it bought 2,140,000 square kilometres from France for $15 million.
Florida Purchase Treaty
The US courted Spain for Florida for years. Spain eventually realised its burden in holding on to the territory and in 1819 effectively ceded it to America in a wider border treaty.
Alaska purchase
America's spending spree continued in 1867 when it acquired 1,518,800 km2 of Alaskan land from Russia for $7.2m. Critics panned the government for buying "useless land".
The Philippines
At the end of the Spanish-American War, a provision in the 1898 Treaty of Paris saw Spain surrender the Philippines for a payment of $20 million.
US Virgin Islands
It's not like a US president has never reached a deal with Denmark before. In 1917 the US purchased the Danish West Indies for $25m and renamed them the US Virgin Islands.
Gwadar
The most recent sovereign land purchase was in 1958 when Pakistan bought the southwestern port of Gwadar from Oman for 5.5bn Pakistan rupees.
COMPANY%20PROFILE
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