E-City announces AED67mn expansion in the GCC

RetailME Bureau

E-City, the electronics retail arm of Albatha Group, has revealed a strategic AED67 million expansion initiative that is aimed towards reinforcing the company’s market presence in the UAE and the GCC region. The move demonstrates the company’s continuing efforts to further consolidate its regional operations while also maintaining its leading position as a prime retailer of world-class, multi-branded electronic products.

The implementation of the new strategy follows the company’s marked excellent performance in 2017. E-City has expressed confidence that the efforts to increase its market presence combined with a continuously growing electronics consumer market will help the company drive in a 20% sales growth by the end of this year.

E-City will initially move towards reinforcing its presence in the UAE and gradually grow its market in the region. The efforts will commence during the second quarter of 2018, focusing on the opening of newer stores across the UAE and moving to Saudi Arabia and Oman. The initiative is also expected to help in the creation of job opportunities. To date, E-City’s stores are spread across the UAE including stores at Mall of Emirates, The Dubai Mall and City Centre Mirdif in Dubai; Al Wahda Mall and Dalma Mall in Abu Dhabi; and Sharjah City Centre.

“Positive market forecasts and increased consumer demand has prompted us to roll out this bid for 2018, which is aimed towards making a stronger impact and marking our presence across the GCC region,” says E-City CEO, Jaouad Dakir. “We have earmarked an investment of AED67 million for the expansion efforts. The company will start its expansion in the UAE – specifically in Dubai’s City Centre Deira and three other locations. For the GCC region, we will start broadening our horizon in Saudi Arabia and Oman. The move reflects our deep commitment towards providing our customers a unique experience into the future of electronics and what it can offer.”

Dakir, who led the company’s AED35-million renovation investment of all E-City outlets in the UAE, highlighted the potential of the KSA market, emphasising that emerging technologies are expected to foster innovation, which could make radical changes in business models and heighten efforts to achieve the ambitious Saudi Vision 2030.

“KSA is a big market with a fast-growing segment for consumer electronics. Customers are always looking for a trusted and a reliable brand that is at the forefront of technology and E-City remains steadfast in its commitment to offer distinctive products and services delivered with a customer-centric attitude,” he adds.

More recently, the company was named as the ‘Most Admired Retailer of the Year – Consumer Electronics’ at the Images RetailME Awards 2017.