Saudi-based food delivery giant Jahez International Company for Information Systems Technology (Jahez) has secured a $40 million (SAR 150 million) Shariah-compliant credit facility from the National Bank of Bahrain (NBB). Signed on August 18, 2025, the agreement spans eight years and will primarily fund the company’s new headquarters.
This facility underscores Jahez’s focus on strengthening its operational foundation while pursuing ambitious regional expansion.
A Growing Force in On-Demand Delivery
Founded in 2016, Jahez has evolved beyond food delivery into a multi-service on-demand ecosystem. Today, its offerings include:
- Restaurant delivery services via its app
- Q-commerce for rapid shopping and essentials
- Last-mile logistics solutions
- Cloud kitchens for scaling food brands
- Digital solutions for partners
With a presence in Saudi Arabia, Bahrain, and Kuwait, Jahez has become one of the region’s most recognized players in the delivery and quick commerce space.
Financial Performance in Q2 2025
Despite the new credit facility, Jahez reported a 22% drop in net profit in Q2 2025. Net earnings stood at SAR 23.6 million ($6.29 million) compared to SAR 30.2 million ($8.05 million) in the same quarter last year.
The decline was attributed to:
- Lower adjusted EBITDA
- Higher depreciation expenses
Following the earnings release, Jahez’s share price fell 0.81% at the start of trading on August 19, 2025, closing at SAR 23.16.
Strategic Expansion: Snoonu Acquisition
The financing news comes on the heels of Jahez’s largest regional expansion move to date, its $245 million acquisition of Qatari delivery company Snoonu.
Key details of the deal include:
- Acquisition of 8,144,546 shares (75% of Snoonu’s capital) from existing shareholders for $225 million (cash + Jahez shares)
- Subscription to 723,960 newly issued shares (1.56% of capital) for an additional $20 million
- Resulting in a 76.56% stake in Snoonu
This acquisition strengthens Jahez’s regional footprint and positions the company as a dominant player across the Gulf’s fast-growing on-demand delivery sector.
Looking Ahead
With its new financing and expanded presence, Jahez is signaling a dual focus:
- Infrastructure development to support long-term sustainability
- Regional acquisitions to fuel growth and competitive positioning
As Saudi Arabia advances its Vision 2030 goals, companies like Jahez are central to building a diversified, tech-driven economy. The combination of fresh capital, a high-profile acquisition, and continued digital innovation suggests that Jahez is positioning itself not just as a delivery platform, but as a regional technology powerhouse in the on-demand economy.