Saudi Arabian on-demand services giant Jahez has secured a $40 million (150 million SAR) Shariah-compliant credit facility from the National Bank of Bahrain. The eight-year facility will be used to finance the capital expenditures for the company’s new headquarters in Riyadh.
By the Numbers
The financing news comes amid a period of significant strategic moves and shifting financial performance for the company:
- $40 Million: The value of the new Shariah-compliant credit facility.
- 8 Years: The duration of the financing term for the new headquarters.
- 22% Decline: The year-on-year drop in Jahez’s net profit for Q2 2025.
- $245 Million: The value of the recent deal to acquire a majority stake in Qatar’s Snoonu.
Securing Capital for a New Hub
The credit facility, obtained on August 18, 2025, provides Jahez with the necessary capital to build out its new corporate headquarters. This move is a crucial step in consolidating its operations and supporting its expanding team as the company continues to scale its presence across the region.
Navigating Market Dynamics and Financial Performance
Alongside the financing announcement, Jahez also reported its financial results for the second quarter of 2025. The company recorded a net profit of $6.29 million, a 22% decrease compared to the same period in 2024. Jahez attributed the decline to weaker adjusted EBITDA and higher depreciation expenses, reflecting a dynamic period of investment and market adjustment.
A Continued Push for Regional Dominance
This financing follows Jahez’s landmark acquisition of a 76.56% stake in the Qatari on-demand delivery company Snoonu in a $245 million transaction. The acquisition marked a major step in Jahez’s strategy for regional expansion across the GCC. The development of a new headquarters is a logical next step to support its ambition to become the dominant player in the region’s fast-growing on-demand delivery market.
Source: Wamda
