Saudi Arabia’s travel company Almosafer, which is part of the Seera Group, is aiming to become a publicly traded company by the end of 2025 or early 2026, according to its chief executive, Muzzammil Ahussain. In an interview with Khaleej Times, Ahussain stated, “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”.

The Saudi Exchange mandates that issuers must offer at least 30 percent of their shares, with a minimum market capitalization of 300 million Saudi riyals to be listed on the main bourse, Tadawul. Ahussain emphasized the company’s commitment to comply with these regulations, indicating that the IPO will be open to both domestic and international investors.

Almosafer experienced substantial growth in 2024, particularly in its consumer business, with gross bookings exceeding 6 billion riyals. Ahussain noted the increasing demand for travel, stating that the company’s Hajj and Umrah services have been particularly successful. He remarked, “Overall, the travel demand to and from Saudi Arabia remains very strong, and we’re very confident about the future of travel.”

The travel patterns observed by Almosafer reveal a balanced distribution of bookings, with about 40 percent being domestic and another 40 percent regional, while the remaining bookings are from international travelers. A study conducted by Almosafer indicated that Saudi travelers have a strong preference for luxury accommodations, with over 75 percent of room nights booked in 4- and 5-star properties.

Moreover, as connectivity improves through low-cost carriers and visa restrictions ease for Saudis, new traveler segments are emerging, seeking more varied and affordable travel options. This trend has led to a 12 percent increase in room nights at 3-star and lower properties for international trips, along with a 15 percent rise in bookings for alternative accommodations in the Mena region and a 21 percent increase in other international markets.