Business / news
Saudi Arabia's Almosafer Targets Year-End IPO Despite War Disruption
Almosafer, Saudi Arabia's largest travel and tourism company, is on track to list on the kingdom's stock exchange before the end of 2026, even as the U.S.-Iran war disrupts travel. The company is betting on domestic demand from Makkah, the Red Sea, and Qiddiya to weather the conflict.
The planned listing on the Saudi main exchange comes as Almosafer navigates a period of geopolitical turbulence. The U.S.-Iran war has had an immediate impact on outbound travel, while domestic demand is emerging as the company's primary growth driver.
Almosafer's domestic ambitions are tied to a portfolio of key destinations, including Makkah, the Red Sea coast, and the Qiddiya entertainment mega-project. These locations are expected to continue drawing visitors despite the conflict, providing a buffer against weaker outbound bookings.
As Saudi Arabia's largest travel and tourism company, Almosafer's IPO is being watched as a bellwether for the sector. The company aims to complete the listing on the kingdom's main stock exchange by the end of 2026, a timeline it has maintained despite the challenging operating climate.
The company has not disclosed further terms of the offering. Its ability to stick to the schedule suggests a measure of resilience in the domestic travel market amid regional instability.