Vol 1 Issue 21
عربيTUESDAY SEPTEMBER 03
Shopping malls and lifestyle spaces expansions are set to boost Riyadh’s retail area by 28 percent to 4.6 million sq. m. by 2026, a new analysis showed.
In its latest report, global real estate consultancy Knight Frank noted that the total existing retail supply in the Saudi capital stands at 3.6 million sq. m., with around 27,050 sq. m. of space entering the market in the first half of this year. The retail sector’s growth is crucial for Saudi Arabia’s goal to become a global tourism hub, with the Kingdom’s Minister of Municipal and Rural Affairs Majed Al-Hogail earlier this year noting its 23 percent contribution to the non-oil economy, aiming to surpass SR460 billion ($122.65 billion) by 2024.
IPO ALERT
Al Majed for Oud is offering 7,500,000 shares to investors – equivalent to 30 per cent of the company’s paid-up capital – at a price range of SAR90 to SAR94.
Today marks a new milestone as we announce our intention to list on the Saudi Exchange’s Main Market. This step forward has been made possible by the support of our wise leadership, whose relentless efforts to advance the Saudi retail sector have played an instrumental role in our growth journey, in line with the Vision 2030. This listing is driven by a strategic ambition to diversify our investor base and strengthen our business operations to accelerate our growth and expansion strategy both locally and internationally. We remain committed to delivering the highest quality of products to exceed customer expectations while maintaining transparency to enhance profitability and maximize shareholder value.”
Waleed Al Majed
Managing Director and CEO
TEAM POWER
Creating local flavours keeping in mind the specific customer needs is important as it helps connect better with your customers. Especially for a chef it is important to map the customer, market and then the team to access and plan a strategy for the future.
For a chef who is on the one hand leading a team or restaurant and on the other looking at creating an exciting menu for the customers, research is key to creating innovative recipes to bring them back to the restaurant. But to gain loyalty, we must be abreast with the grassroots happenings. Traveling to get culturally knowledgeable and finding the science and the history behind ingredients and local cuisines is very important”.
Nicholas Cuadrado
Culinary Director – F&B, Bateel International
RetailME presents SHELF TALK
Sadique Ahmed | Chief Executive Officer | Retail GPT
Doctor M by Magrabi Retail Group has set a new record by opening 4 new stores in KSA in less than a month. This takes up the store count for the brand to 20+.
Parfois has recently opened its new store in Lavanda mall on the southern region (Abha). This takes up the store count of Parfois in the Kingdom to 15+.
The Apparel Group recently announced the opening of Cold Stone Creamery’s new branch in Rasees Plaza, making it the 6th location in KSA and 54th in the GCC!
/ʃelf-wɔːmɜːrs/A very interesting term, this word refers to products that remain unsold on store shelves for an extended period, often due to lack of demand or poor marketing strategies.
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