Jahez Group- Jahez secured a $40M (SAR 150M) Shariah-compliant facility from the National Bank of Bahrain (NBB) to finance its new headquarters over eight years.
- The company’s Q2 2025 net profit fell 22% YoY to SAR 23.6M ($6.29M), driven by weaker adjusted EBITDA and higher depreciation costs.
- Shares slipped 0.81% to SAR 23.16 following the earnings release.
- The funding comes on the heels of Jahez’s $245M acquisition of 76.56% of Qatar’s Snoonu, expanding its presence across the GCC.
Riyadh, Saudi Arabia-based Jahez International Company for Information Systems Technology has secured a pivotal Shariah-compliant credit facility totaling $40 million (around SAR 150 million) from the National Bank of Bahrain (NBB). The eight-year financing will be directed toward capital expenditures, including the development of Jahez’s new headquarters.
Q2 2025 Performance: Profit Slumps Amid Investment Push
Jahez reported a 22% year-on-year (YoY) decline in net profit for Q2 2025, landing at SAR 23.6 million ($6.29 million), down from SAR 30.2 million ($8.05 million) in Q2 2024. The dip was attributed to weaker adjusted EBITDA and increased depreciation costs. Following the announcement, the company’s shares slipped approximately 0.81%, closing at SAR 23.16 on August 19, 2025.
Expansion Momentum: Strategic Acquisition of Snoonu
This financing move coincides with Jahez’s landmark acquisition of a 76.56% stake in Qatar’s Snoonu, part of a larger $245 million deal. The transaction included a $225 million purchase of shares—settled via cash and Jahez stock—and a $20 million investment in newly issued shares, representing 1.56% ownership, spotlighting Jahez’s strategic regional expansion across the Gulf Cooperation Council (GCC).
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About Jahez: Pioneering On-Demand Ecosystem in the GCC
Founded in 2016 and headquartered in Riyadh, Jahez has evolved into Saudi Arabia’s leading online food-delivery and on-demand services platform, with a growing operational footprint in Bahrain and Kuwait.
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The Group’s diversified offerings include:
- PIK, a swift commerce (q-commerce) platform delivering retail goods within two to three hours (e.g., fashion, cosmetics, computer hardware).
- Co Kitchens, a cloud-kitchen model offering commercial cooking facilities for delivery-only operations.
- Logi, a centralized logistics and last-mile delivery platform that underpins Jahez Group’s operational backbone.
- Marn, a digital business solutions provider acquired in 2023 to support merchants with modern technical services.
- Sol, serves the B2B food and beverage supply market for HORECA clients.
Jahez has also developed an ecosystem of complementary brands, such as Blu Store and technology ventures, anchored in its mission to “offer an on-demand services ecosystem that enhances customer lifestyle and empowers businesses.”
As of H1 2023, Jahez had cultivated 2.9 million active users and partnered with over 31,000 merchant branches, reinforcing its digital marketplace dominance.
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