Souq.com, a leading e-commerce site in the Arab world covering Saudi Arabia, UAE, Jordan and Egypt, has forecast a triple digit growth for its business by the end of 2010.

By offering the largest online marketplace for buyers and sellers to interact in the Arab region, Souq.com reported strong growth in 2009 and plans to replicate its success by offering additional innovative services, venturing into new geographies and creating new jobs.

Souq.com has increased its presence since its launch in 2005 and now serves over 500,000 active buyers and sellers in the region.

Furthermore, with a record figure of over 1.5 million unique visitors and 25 million page views every month, Souq.com plans to increase its customer base across new markets that include Saudi Arabia and Egypt, said a top official.

Commenting on the success, Ronaldo Mouchawar, chioef executive officer of Souq.com said: “We have evolved from a simple auction site to a broad e-commerce portal. Today one in three internet users visit Souq.com, with one item sold every thirty second."

"We will continue our efforts to be part of every internet user’s daily life in the Arab region. We owe our success to the market readiness and tech-savvy users of the region," Mouchawar said.

The commerce site has become an internet platform of choice for many buyers and sellers to interact online, he added.

Souq.com has expanded to include several features and different categories to offer a convenient, secure and richer online experience to users in Middle East.

"The key feature include Souq SafePay and Souq Buyer Protection Program which guarantees 100 per cent protection to buyers and sellers when transacting on Souq, Souq Motors, Souq Property and a wide-range of consumer products," the official said.

Ronaldo went on to add that they are focused on the region’s needs and are working closely with industry partners to bring value-added services to users and build its growing portfolio.-TradeArabia News Service