Al Hokair Invests 1.5 Billion Riyals in Spinneys International
November 27, 2008
Sami Al Hokair, Chief Executive Officer of the Eastern Province has signed an Agency Agreement with Spinneys Group Limited, a premier supermarket retailer in the Middle East. The 1.5 billion riyal deal will give Spinneys access to the Saudi market.
Al Hokair said "More than 30 branches will be established in different areas and cities in the Kingdom, in the coming five years. The group has conducted studies and has taken all necessary measures to form a leading team to undertake the launching that will start in Riyadh," adding that the new supermarkets will provide top-notch services and distinguished offers. "The Saudi market," he said "is one of the biggest in the region and strongly needs such a retailer to provide high quality goods and meet customers' satisfaction." Spinneys supermarkets were first established in Alexandria, Egypt in 1924 by the British businessman, Arther Spinneys.