LONDON: A new online shopping platform is about to launch in the Kingdom to rival Amazon.
The $1 billion noon.com online shopping platform has just arrived in the UAE and Saudi Arabia will be next.
But which will offer the best value for bargain-deprived Saudi shoppers?
We sent our very own secret shopper to purchase a basket of goods from Noon.com, and compare the prices with like-for-like products at Amazon’s US marketplace.
The Arab News online shopping trolley included 10 items picked at random and including electronics, footwear, phones and toys.
The results reveal that the upstart noon basket came to $2,024 compared — more than 10 percent cheaper than rival Amazon with a total cost of $2,273.45.
But analysts say the difference may be about noon.com stealing a march on its more established global competitor by offering attractive launch discounts.
Still, the arrival of fresh competition is expected to benefit shoppers across the region that have long been denied the online shopping choice of their counterparts in Europe, Asia and North America.
Noon is a joint venture between Emaar Properties chairman Mohamed Alabbar, Saudi Arabia’s Public Investment Fund and the Kuwaiti franchise operator MH Alshaya.
The new site launched on Sept. 30 with offices in Dubai and Riyadh.
Our secret shopper reveals best online bargains for Saudis
Our secret shopper reveals best online bargains for Saudis
Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals
RIYADH: The King Salman Park Foundation has secured more than $3.8 billion in new private-sector commitments at the MIPIM 2026 real estate conference, including a landmark $3 billion fund backed by international investors to develop a major mixed-use district in the heart of Riyadh.
According to a press release, the announcements bring total committed investment in the 17.2 sq. kilometers urban regeneration project to over $5.3 billion across five major packages.
Launched in 2019 under Saudi Vision 2030, the development is designed to be the world’s largest city park and aims to boost green space, improve quality of life, and feature over 1 million trees and extensive leisure facilities.
A $3 billion metro-connected district
The largest of the two packages, designated Package 5, will see a consortium led by Kolaghassi Development Co. deliver a residential-led district with a total built-up area exceeding 1 million sq. meters.
It will provide approximately 3,700 residential units, a K–12 school, around 300 hospitality keys and more than 100,000 sq m of Grade A office space alongside a wide variety of retail and dining offerings.
The development is supported by a Saudi-domiciled, Capital Market Authority-regulated fund managed by Mulkia Investment Co. that has attracted leading investors from the Kingdom and across the world.
Kolaghassi Development Co. will lead the project alongside Al Othaim Investment, one of the Kingdom’s real estate players, and RXR, a New York-headquartered real estate investor and operator.
“Securing investment of this scale, supported by international capital and expertise, is an important milestone for King Salman Park,” said George Tanasijevich, CEO of King Salman Park Foundation.
$850 million cultural district package
In a separate announcement, the Foundation confirmed the award of Package 4 to a consortium led by Retal Urban Development Co., with support from a fund managed by SAB Invest.
The project has a total value exceeding $850 million and will host more than 600 residential units, over 140 hotel keys, and almost 50,000 sq m of Grade A office space, alongside curated retail and food and beverage experiences.
“This opportunity reflects the maturity of Saudi Arabia’s real estate investment landscape and our confidence in culture-led, mixed-use urban destinations as a driver of sustainable returns,” said Abdullah Al-Braikan, CEO and founder of Retal Urban Development Co.
Ali Al-Mansour, CEO of SAB Invest, said the fund structure brings together “long-term capital, experienced development partners, and a shared commitment to place-making excellence” while contributing to Riyadh’s cultural vibrancy and the Kingdom’s quality-of-life ambitions under Vision 2030.
