Saudi retail group Al-Sadhan Trading is to open 18 hypermarkets in the Kingdom over the next five years, its chief executive revealed yesterday.
The move is part of a $300 million expansion drive the group is embarking on to capitalise on the Al-Sadhan hypermarket chain's recent strong sales growth, reported Arab News.
"We are targeting 18 stores in next five years," Mazen Al-Salih said. "This year itself, three more Al-Sadhan hypermarkets will be opened in Riyadh. We will open four hypermarkets in Jeddah next year."
Al-Salih said the expansion was also to boost the chain's presence in preparation for the entry of "some major players" into the Saudi Arabian retail market over the next two years.
"Some major players will enter the Saudi market - one this year and the other next," he said.
Al-Salih said Al-Sadhan's electronics division, which reported an increase in sales of 222% this month, was an important driver of sales growth. The electronics department takes up 22% of the hypermarket's floor space.
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