Qatar-based supermarkets and hypermarkets Saudia Group aims to set up major retail outlets across all the emirates over the next five years, said its managing director.
The group has opened Dh80 million Kenz Hypermarket in the UAE in the emirate of Ajman which is spanned over 160,000 square feet.
Rashid Musthafa said the group will invest another Dh45 million to near double the size of the hypermarket.
“The construction will start after six months and it will complete next year. The expanded portion will be leased out to other companies,” said Musthafa.
Commenting on the Group’s foray in the UAE, NK Musthafa, Chairman of Saudia Group of Companies, said: “Our retail operations has seen a steady growth in Qatar and we are positive that UAE, with its vibrant economy and large avenues for hypermarkets, will be a highly opportune market for us. Over the years, we have achieved great success owing to our 1,000 strong employees and faithful customers.
“Ajman offers the perfect launch pad for us in the UAE. We are looking at expanding into other Emirates in the near future. Although the country has a large number of supermarkets and hypermarkets, the business potential for department stores here is growing vigorously”, he added.
Rashid Musthafa said: “Our expansion plans in the UAE are well underway where, with the opening of Kenz Hypermarket in Ajman, we hope to build strong relations with the country and establish a strong growth here.”
