BinDawood subsidiary plans 10 branches in Riyadh over 5 years

09/05/2021 Argaam

Logo of BinDawood Holding Co.

BinDawood Superstores Co., a subsidiary of BinDawood Holding Co., decided today, May 9, 2021, to open its first branch in Riyadh.

 

BinDawood is planning to open 10 branches in Riyadh during the period between 2022 and 2027, the company said in a bourse filing.

 

The project cost, which will be financed from the company’s internal sources, is to be announced soon.

 

The project is expected to have a positive impact on the company's results after the commencement of commercial operation. The result will be announced in due course.

 

The related financial impact is expected to show in the subsequent quarter after commencement of operation of each branch.

 

The number of branches might increase subject to the demand in the market, BinDawood added.

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