Spinneys, a leading retailer in the Mena region, has sealed a landmark partnership deal with Al-Hokair Group to set up its second store in the country’s prime business and lifestyle destination, the King Abdullah Financial District (KAFD), Riyadh.

 

Set in the heart of the Saudi capital Riyadh, KAFD features 1.6 million sq m of state-of-the-art office space, world-class facilities and iconic luxury residences, designed to transform the way urban communities live, work, and play. 

 

A 22-km drive from King Khalid Airport, KAFD is a key driver of Riyadh’s economic ambitions and is the largest LEED certified mixed-use financial district in the world. It is owned and managed by the King Abdullah Financial District Development and Management Company (KAFD DMC).

 

The KAFD location will feature a complete deli offering for both cold and hot items, along with an in-store bakery that will serve freshly baked pastries and a patisserie menu. The store will span 1,087 sq m and is slated for an opening in Q4 2024.

 

The Al-Hokair Group, founded in Saudi Arabia in 1975, is primarily involved in entertainment centres, hospitality, and retail.  

 

"Thanks to Spinneys' brand power and differentiated offerings, its growth potential in Saudi Arabia is immense. With preparations underway for a second store, we are committed to working with an established name like Spinneys to continue diversifying the sectors within which we operate," said Sami Alhokair, CEO of Abdulmohsen Al Hokair Holding Group.

 

Spinneys Dubai CEO Sunil Kumar said: "Our second Spinneys store in Riyadh is a sign of our commitment to the kingdom, with plans to open stores in more cities in the coming years. We have ambitions to expand our geographical footprint within the Middle East, and this is one of the first few steps towards that goal."

 

Commenting on the launch, Gautam Sashittal, CEO of King Abdullah Financial District Development and Management Company, said: “Consumer preferences and food purchasing habits have changed with time, and the demand for healthy living has really driven our partnership with Spinneys."

 

"We see this with rising consumer spending in the Kingdom, having reached approximately SAR390 billion in the first quarter of 2023. Our aim with signing on exemplary brands like Spinneys only serves to amplify the world-class experience we hope to offer the district’s residents and visitors,” stated Sashittal. 

 

He pointed out that KAFD has adopted the ‘10-minute city’ concept, which aims to create a walkable urban environment in which all necessary amenities are within 10 minutes of home and work.

 

"Today, KAFD’s many mixed-use buildings, combining office and residential, as well as shops, restaurants and entertainment options, are all located within a 10-minute walk of each other," he added.-TradeArabia News Service