BAAN secures 5-year license to serve international pilgrims

Logo of BAAN Holding Group Co.

BAAN Holding Group Co. said it received a five-year license from Saudi Arabia's Ministry of Hajj and Umrah on Aug. 5 to provide services to international pilgrims, valid through the end of the 1452 Hajj season, with an option to renew.

The license allows the company to organize and operate services for overseas pilgrims in line with applicable regulations, coordinate with approved service providers, and offer integrated services.

BAAN said the license is a strategic addition to its business portfolio, enhancing its ability to expand into one of the Kingdom's key sectors and capitalize on investment and operating opportunities. It added that the move supports its strategy to diversify operations, build sustainable recurring income streams, and drive long-term growth.

The company said the development comes amid continued growth in the Hajj sector, supported by Saudi Vision 2030 and the Pilgrim Experience Program, which aims to enhance pilgrims' experience and increase pilgrim numbers, creating opportunities for future business expansion.

BAAN added that the license aligns with its strategy to diversify its operating and investment activities by expanding into high-growth sectors while leveraging five decades of experience in hospitality, hotels, and catering.

It expects the license to broaden its business by adding Hajj services to its operations, expanding its service offering, creating new growth opportunities in the Hajj sector, and strengthening its position within the pilgrim services ecosystem.

The company said it is completing the operational arrangements required to begin providing the services. It added that the financial impact cannot yet be determined, as it will depend on the scale of operations generated by the new business activity.

The company said that there are no related parties to the deal.