UAE: Saudi travel firm Almosafer aims to launch IPO by year-end or early 2026, says CEO

Saudi Arabia’s travel company Almosafer – part of Seera Group – aims to go public by the end of this year or early next year, its chief executive said.

“We're still on track for IPO sometime in the later part of 2025 or early 2026. We are in the process of appointing advisers. Now we're doing our internal work to get ready,” Muzzammil Ahussain, CEO of Almosafer, told Khaleej Times in an interview.

He said it is too early to disclose how much the company plans to float during the (IPO).

The issuers, according to Saudi Exchange, are required to offer at least 30 per cent of their shares and the minimum market cap should be 300 million Saudi riyals, on the main bourse Tadawul.

“There are minimum requirements from the Saudi authorities to list a certain percentage, so we would follow and comply with all regulations,” he said, adding that the IPO will be open for domestic and international investors.

Ahussain said 2024 was a “great year,” especially for consumer business as gross bookings grew to cross 6 billion riyals.

“We saw great growth, and Umrah business, providing flights and packages as well as Overall, the travel demand to and from Saudi Arabia remains very strong, and we're very confident about the future of travel,” he said.

“From a trend perspective, we're seeing strong growth for domestic, regional and international travel. It's a very balanced bit, around 40 per cent of our bookings are domestic and 40 per cent regional, with the remainder being rest of the world,” he said on the sidelines of the Arabian Travel Market 2025.

A study by Almosafer revealed that Saudi travellers continue to show a strong preference for luxury, with over 75 per cent of room nights booked in

However, with increased connectivity through low-cost carriers and the easing of, new segments of travellers are beginning to explore a wider range of destinations, and seeking more affordable stay options.

As a result, room nights at 3-star and below properties for international trips increased by 12 per cent, and bookings for alternative accommodations, such as serviced apartments and holiday homes, rose by 15 per cent in the Mena region and 21 per cent in other international markets.