Delivery Market for Requests in Saudi Arabia is a candidate to reach 50 billion Riyals next year

The delivery market in Saudi Arabia has turned into a Riyals bill, which has benefited from transformations in consumption patterns and increasing dependence on digital services. The sector has seen remarkable growth as the market size exceeded 13 billion Riyals by the end of 2023, and is expected to reach 50 billion Riyals by 2026, according to Ubayd Al -Anzi, CEO of the “Mister Mandoub” application. Al -anzi explained in an interview with ‘Al -Sharq’ that the launch of the “Hunger Station” application was an important turning point in the sector, because it paved the way for new platforms to appear, and contributed to accelerating the dependence on e -commerce. He also pointed out that the average value of one demand increased from 66 Riyale in 2023 to 77 Riyals in the first half of 2024, reflecting the increase in the profitability of the applications. The ongoing wealth of this sector increases the importance of investors and founders to look for new growth opportunities, either by expanding the scope of their services or offering their shares for investment. Factors pay the delivery sector, Obaid al-anzi, CEO of the “Mister Mandoub” application, see that the market delivery market in Saudi Arabia is moving to 50 billion Riyals by 2026, powered by three main factors: 1- The expansion of the customer base with the distribution of smartphones and increased dependence of digital solutions, the age Delivery applications used. After the accreditation was limited to this older than 18 years, children aged 10 or 12 became among the active users, leading to a significant increase in daily requests. 2- The increase in women’s participation in the labor market after Saudi Arabia achieved 30% for women’s participation in the workforce by 2022 was increased by 2030 to 40%. This growth has strengthened the demand for delivery services, as working women are looking for solutions that offer time and effort, or to request food, groceries or different products. 3- Increasing competition with the entry of new players. The market was witness to the entry of international companies such as the Chinese application “Kita”, which increased the competition level and forced local businesses to develop their services, improve the technology used, and provide attractive offers to clients, which increased the confidence of the consumer in electronic services and contributed to the expansion of the market. The list of senior players in the Kingdom sector is currently included: “Kita”, which is a Chinese application, “HungerStechen”, “ready”, “Morsoul” and “Mister Mandoub”. Also read: Decisions to organize the delivery sector in Saudi Arabia, and “Mister Mandoub” is on their way to offer its shares for the public subscription in the Saudi financial market during the current year through the secondary market “growth”, with a rating of up to 1.5 billion Riyals. The rise of ‘Mister -delegate’ from 5 million to 1.5 billion Riyals. The head of “Mister Mnawad” tells the story of applying the application in just five years, revealing the velocity of the growth of the Saudi delivery platforms. Since the brothers Hammoud, Walid and Ghosn Al -Ghusn launched in January 2020, the application has begun as a work model that achieves mutual profits between clients, stores and delegates, and despite the launch with limited capital, he was able to rapidly attract investments increased from market value. In 2021, the application obtained an investment of 5 million Riyals to reach its evaluation to 20 million Riyals, and in 2022 its revenue multiplied, increasing its evaluation to 97.9 million rows. So far, the application has carried out four financing rounds during which it collected 71 million rows, and it is now in the fifth round, which is on the collection of 50 million Riyal target before the initial public offering in the Saudi financial market. By mid -2024, the value of ‘Mister Delegate’ reached 839 million rows, powered by a sharp increase in sales during 2023 compared to the previous year, with more than 11 million requests by the application. Obaid Al -enezi revealed to AL -SHARQ that the application revenue in the first half of 2024 exceeded its total income during the entire 2023, expected revenue to be Riyale and 378 million Riyals during the year 2025 million. At this accelerated pace, Mister Mandoub prepares to enter a new phase with the presentation of plans in the financial market, and a purposeful evaluation of 1.5 billion Riyals. Golf applications in the application delivery sector The Gulf region was an accelerated growth in the requests delivery sector, which led to the inclusion of Startups in the financial markets with billionaire values, the most prominent ‘in Saudi Arabia and’ requests’ in the Emirates. ‘READY’ .. The first delivery business recorded in the Saudi market in 2021 entered ‘Ready International Information Systems Technology’, which owns the ‘ready’ platform to deliver requests, the Saudi stock market by the parallel market (growth), with a market value of 8.9 billion Riyals when offered. The subscription process was witness to the entry of the investment immunity business, the investment arm of the General Organization for Social Insurance in Saudi Arabia, as a large shareholder with 4.99% of the company’s shares. In terms of financial performance, ‘Ready’ gains of 125 million Riyals achieved in 2023, while its profits amounted to 123 million Riyals during the first nine months of 2024, amid the anticipation of shareholders for the last term results after the company moved to the main market. ‘Requests’ .. from simple capital to a billionaire business that was not limited to the Saudi market, but rather included the entire region, where the application of ‘requests’ recorded a prominent success story. Since the foundation in 2003 with a capital of no more than $ 4,000 Kuwaiti (13,000 dollars), the application has seen a tremendous expansion, which led to the inclusion of the Dubai Financial Market in November 2024, with a market value of $ 36,33 billion Dirhams ($ 9.9 billion). This ongoing expansion reflects the potential for the delivery market in the Gulf, which experiences increasing growth with digital transformations and high demand for rapid and reliable services. New marketing plans that include the ‘Mister Delegate’ strategy for 2025 marketing goals, such as increasing the rate of customers’ retention and increasing the regular use rate by 20%, in addition to increasing the market share by 15% by entering new markets. The plan also contains the introduction of innovative services such as monthly packages designed for customer needs, and the use of environmentally friendly delivery methods using bikes and electric vehicles. In the context of improving the efficacy of operations, the application concluded strategic partnerships with technical enterprises such as “Delverick” and “Grabtek”, in addition to the “Food Zone” and “Band” companies, with the aim of accelerating the implementation of requests. The company will also allocate part of the current investment round, amounting to 50 million rows, to develop artificial intelligence and automation technologies. Al -anzi added that ‘Mister Delegate’ is a specialized logistics company associated with it, in addition to a technical enterprise that offers digital solutions, and seeks to invest in Startups and enter new sectors such as the supermarket and cloud chatter.