Qatar-based Saudia Group that operates supermarkets and hypermarkets has forayed into the UAE market with the opening of Kenz Hypermarket in Ajman.
Kenz Hypermarket, one of three business units under the umbrella of Saudia Group, has invested AED80 million into the venture in Ajman, its first outside of Qatar. It added that it plans to expand with further UAE shops in the future.
“We’re very pleased to venture into the UAE, which is an extremely promising market for growth,” says NK Musthafa, chairman of Saudia Group of Companies. “Our aim is to take our quality food and lifestyle products to a wider expanse of consumers across the region. Our retail operations have 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.”
“Ajman offers the perfect launch pad for us in the UAE. We’re looking at expanding into other emirates as well 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,” feels Musthafa.