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The company was founded in 2016 by PIF and Mohamed Alabbar, with a value of $1 billion. Alabbar stated at a press conference that Noon is 50 percent owned by the PIF, while the remaining 50 percent is owned by him and private investors in the region. Noon’s operations span Saudi Arabia, Egypt and the United Arab Emirates.
In August 2022, Noon has acquired fashion and accessories specialist Namshi from Emaar Properties.
