Aside from the ambitious goal itself, the Arabic version of the website is executed well https://www.noon.com/ar-sa which is somewhat rare. I couldn't read the whole article due to the paywall, but I don't think Noon is trying to compete with amazon.com directly. I think they're trying to compete with Souq[1], which was recently acquired by Amazon in an effort to enter the Middle East market.

1) https://techcrunch.com/2017/07/03/amazon-souq-com-completed/