Driven by regional and global expansion plans.. almatar is part of the “Saudi Unicorn” billionaire program for the second year in a row
In a new entitlement, almatar Travel and Tourism Group was selected as one of the companies in the “Saudi Unicorn” billionaire program 2024 for the second year in a row, continuing the successes and journey of the ambitious company that owns the almatar application – the most downloaded application in the tourism and travel sector in the Kingdom – in supporting innovation and enhancing its ambitious vision to be at the forefront of leading travel and aviation technology companies in the Kingdom.
The “Saudi Unicorn” program is a national initiative that aims to transform fast-growing technology companies in Saudi Arabia into billionaire companies with a value exceeding one billion dollars, through support that includes global expansion, attracting talent, linking them with strategic investors and guiding experts.
Almatar’s joining this program confirms its distinguished position and effective role in achieving these national goals, as the program aims to increase the number of billion-dollar companies in the Kingdom, create direct and indirect job opportunities, and raise the market value of companies, which contributes to strengthening the national economy and achieving the Kingdom’s Vision 2030.
Commenting on this new achievement for Almatar Group, the Group’s CEO, Mr. Faisal bin Yousef Al Rajhi, said: “The continuation of the Almatar application as the most downloaded travel application in the Kingdom for two consecutive years (2022 and 2023), and its acquisition of more than 4.5 million customers, was a strong incentive to expand into new markets, and join an elite list of promising technology companies that have the ability to successfully enter local and global markets.”
Al Rajhi added: “Our re-joining the program this year reflects the extent of the success we have achieved, and confirms our readiness to enter a new phase represented by offering the group’s shares on the main Saudi stock market during the fourth quarter of 2025, which will make us the first digital travel and tourism group of its kind to offer its shares in the Saudi market and the region.”
Al Rajhi pointed out that the group began its investments outside the Kingdom, starting with the Omani market at the beginning of this year 2024, where almatar transferred Saudi technology and expertise to the tourism sector in Oman, and seeks to expand its capabilities in a number of GCC countries, including the Kuwaiti and Emirati markets in 2025, within an innovative model that suits the needs of those markets.
Al Rajhi added that the support that almatar receives within the Billionaire Companies Program represents a strong push towards achieving faster expansion and increasing influence in the market, stressing the group’s commitment to achieving rapid growth and creating exceptional value for customers, based on the support of Vision 2030 and the great ambitions it carries. He thanked the Misk Charity Foundation and the Ministry of Communications for their sponsorship of the program.
Regarding the group’s benefits from the program, Al Rajhi said: “As part of the program, we will receive many privileges, including strategic partnerships with leading investors, business accelerators, and specialized mentors, which enhances our ability to achieve leadership and reach a global scale.”