UAE: Saudia Group enters market with new hypermarket
Saudia Group, a Qatar-based chain of supermarkets and hypermarkets chain is set to expand into the UAE with the opening of Kenz Hypermarket in Ajman.
According to Arabian Business News, the hypermarket is one of three businesses under the Saudia Group umbrella investing 80 million AED ($21 million) in the opening, which is said to be the company’s first outside of Qatar.
NK Musthafa, chairman of Saudia Group of Companies spoke of the launch by saying: “We are very pleased to venture into the UAE which is an extremely promising market for growth”. He went on to say: “Our aim is to take our quality food and lifestyle products to a wider expanse of consumers across the region. 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”.
Company managing director Rashid Musthafa Abdu added: “[With] 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. As a new entrant in the market, we aim to make a mark here and cater to customers for all their needs”.
Source: Arabian Business News