Dubai is set to experience one of its largest IPOs as Talabat, the leading food delivery service in the region, prepares to go public as soon as next week. This much-anticipated initial public offering, projected to raise around $1 billion, follows Talabat’s remarkable financial results—a 46% increase in profits for the third quarter—highlighting the company’s expanding influence in the Middle East and North Africa (MENA) region.
Insiders from the company’s parent organization, Delivery Hero, based in Berlin, indicate that Talabat’s valuation might fall between $9 billion and $12 billion, reflecting its swift growth and robust customer base across eight MENA countries, including the UAE, Saudi Arabia, and Kuwait. This IPO is part of Dubai’s larger strategy to strengthen its capital markets, as it increasingly attracts high-profile listings that position the UAE as a financial leader in the region.
Given the rising demand for digital food delivery and convenience services, Talabat’s IPO is expected to draw considerable interest from investors. A successful listing would not only provide Delivery Hero with the necessary funds for further expansion but could also pave the way for additional tech and e-commerce IPOs in the Gulf, where the demand for digital services has surged dramatically.
Dubai’s market, recognized for being welcoming to investors and receptive to tech giants, could see an influx of global attention and capital as Talabat joins other significant listings. For Dubai, Talabat’s IPO represents the growth of its digital startup ecosystem and highlights its potential as a hub for regional tech unicorns aiming to go public.
Industry experts believe that Talabat’s valuation will reflect its past successes and prospects for ongoing growth in a changing market where the demand for food delivery and on-demand services continues to rise.
