Riyadh – Sharikat Mubasher: Saudi Arabia-based food delivery app Jahez is exploring the feasibility of expanding into relatively near markets.
Heni Jallouli, Chief Financial Officer at Jahez app told Al Arabiya Business that his company has enjoyed a sustainable profitability since 2020, only 4 years after launching its operations whereas other companies could take not less than 10 years to reach profitability.
He added that the food delivery sector in Saudi Arabia managed to achieve SAR 123 million before deducting taxes and interests, which is considered an unprecedented event in this industry.
Jallouli added that his company’s operations in Kuwait and Bahrain are witnessing a great improvement in terms of costs going significantly down.
He further disclosed that the Jahez app is currently studying expansion to multiple neighbor markets based on its volume and potentiality of achieving profits, adding that there are no particular markets in mind, however, the company is conducting case studies for every potential market separately.
