Mohamed Alabbar speaking at launch in Dubai on 13 November 2016

Game-changing ecommerce platform Noon
 launching with US$1 billion investment
   Saudi Arabia s PIF to take 50% equity in Noon
   Going live in January with a selection of 20 million products, and fast delivery
   Promises a great customer experience from day zero
   Ambitious expansion plan to cover whole of the Middle East region
   Aiming to drive Middle East online sales from US$3bn to US$70bn in a decade
 Dubai, United Arab Emirates; November 13, 2016: The online shopping experience in the Middle East will forever be changed with the launch of Noon in January. The region s largest-ever ecommerce company, Noon will be a driver of innovation which will offer a vast product selection and fast delivery across all categories.
 With an initial investment of US$1 billion, Noon will launch in the UAE and KSA markets and will soon cover the entire Middle East region rapidly. Noon aims to grow online sales in the region from 2 per cent of the total market (US$3 billion), to 15 per cent (US$70 billion) within a decade.
 Emaar Properties Chairman Mohamed Alabbar, who is leading the venture with prominent GCC investors, described Noon as  nothing less than a quantum leap in retail in the region, and the world .
 Mr Alabbar said:  We come with the endurance to build a customer-centric business for the long-term. For us, it s a marathon, not a sprint. I am pleased to announce that the Public Investment Fund of Saudi Arabia will take 50 per cent equity in Noon. In addition, the head office of Noon will be based in Riyadh, Saudi Arabia. 
  With Noon, we are offering the most customer-centric ecommerce experience available anywhere,  he said.  In one move, we are launching a future-focused company which is the biggest online shopping platform ever seen in the region. Noon is a company born in the Middle East and serves customers in the Middle East. 
 Noon brings a number of impressive firsts for the region:
   Biggest selection, with 20 million products covering fashion, books, home & garden, electronics, sports & outdoor, health & beauty, personal care, toys, kids and baby products, and more
   More than 10 million sq ft of warehousing. At 3.5 million sq ft the UAE fulfilment centre will cover more than 60 football fields
   Same-day delivery through Noon Transportation, an in-house express delivery service
   NoonPay, a secure and innovative payment gateway
 Noon s CEO, Fodhil Benturquia, said that a commitment to customer-centric service and innovative technology would be key to Noon s success.  The customer is the purpose of our being, and we are here to win their hearts and their trust.  He added:  Our customer experience will be driven by state-of-the-art technology that will power everything from product discovery to purchase and delivery. 
 He said that Noon, through its mobile app and website, will be an end-to-end ecommerce retailer.  We want to be the partner of choice for sellers, whether they re big or small. We invite them to be part of