- Jahez secures USD 40M Shariah-compliant facility from NBB to fund headquarters, with an eight-year duration.
- Q2 2025 net profit drops 22% to USD 6.29M, driven by weaker adjusted EBITDA and higher depreciation expenses.
- Jahez recently acquired 76.56% of Qatar’s Snoonu in a $245M deal, expanding its regional on-demand delivery footprint.
Jahez
Jahez International Company for International Systems Technology (Jahez) has secured USD 40 million (SAR 150M) in a Sharia-compliant credit facility from the National Bank of Bahrain (NBB).
The facilities were secured on Aug. 18, 2025, with a duration of eight years. Furthermore, the company will use the funds to finance capital expenditures for its headquarters.
Launched in 2016, Jahez International Company, facilities is an online food delivery platform to unite stakeholders from restaurants, logistics fleet, and customer orders from its app.Moreover, it offers on-demand services, q-commerce, last mile delivery, digital solutions and cloud kitchens across Saudi, Bahrain and Kuwait.
At the start of the 19th of August 2025 trading, Jahez’s share price decreased 0.81% to SAR 23.16. Additionally, its net profit declined by 22% in the second quarter of 2025, recording SAR 23.6 million (USD 6.29 million). This is in comparison to SAR 30.2 million (USD 8.05 million) in the same quarter of the previous year. However, the company attributes the annual drop in net profit to lower adjusted EBITDA and higher depreciation expenses
Acquisition
This comes after Jahez acquired a 76.56% stake in Qatari on-demand delivery company Snoonu in a USD 245 million transaction. Jahez planned to acquire 8,144,546 shares, representing 75% of Snoonu’s share capital from current shareholders for USD 225 million. This will be paid through a combination of cash and shares in the Saudi company.
Additionally, the food delivery company will subscribe to 723,960 newly issued shares in Snoonu, representing 1.56% of the share capital. This will be for an additional cash consideration of USD 20 million.
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