Spinneys Partners With Al-Hokair Group to Open Second Saudi Store in Riyadh’s KAFD
- Spinneys in KAFD will span 1087 sqm
- It is expected to open in Q4 2024
- KAFD is strategically located in the center of Riyadh.
Riyadh, Saudi Arabia, November 21, 2023 – Following a landmark partnership deal between Spinneys Dubai and The Al-Hokair Group to establish the Spinneys brand in Saudi Arabia, a second Spinneys store is set to open in the country’s prime business and lifestyle destination, the King Abdullah Financial District (KAFD), Riyadh.
The second Spinneys store in Riyadh will span 1087 sqm and is slated for an opening in Q4 2024. In addition to the high quality of services and products that Spinneys’ customers have come to expect, the KAFD location will feature a completedeli offering for both cold and hot items, along with an in-store bakery that will serve freshly baked pastries and a patisserie menu.
Set in the heart of the Saudi capital Riyadh, KAFD features 1.6 million square meters 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-kilometer 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 Al-Hokair Group, founded in Saudi Arabia in 1975, is primarily involved in entertainment centers, hospitality, and retail. Sami Alhokair, CEO of Abdulmohsen Al Hokair Holding Group commented on the partnership with Spinneys, stating, “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.”
Spinneys Dubai CEO Sunil Kumar shared his enthusiasm for the expansion: “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 this latest addition to the KAFD retail scene, Gautam Sashittal, CEO of King Abdullah Financial District Development and Management Company (KAFD DMC), 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 390 billion SAR 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.”
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.
Within this vibrant and holistic environment, the new Spinneys store will offer office-going professionals the option to shop from its deli for their on-the-go meals. The district’s residents will also be able to take advantage of the comprehensive grocery offering with high-quality products sourced from across the world.
Currently, within the UAE and Oman, Spinneys is known for its superior offering of fresh produce, made possible by the company’s sourcing strategy, with owned purchasing offices worldwide and direct relationships with farmers and growers. More recently, the group has applied this buying strategy to its broader grocery offering, giving customers an abundance of exclusive products within the food-to-go, frozen, and grocery categories.
Spinneys has also successfully partnered with local farmers through initiatives like the Spinneys Farmers’ Club, with the broader goal of assisting with the UAE’s national food security strategy. Similar initiatives can be expected in Saudi Arabia as the group establishes itself within the market.
The partnership between The Al-Hokair Group and Spinneys was launched on 2nd March 2022 with the signing of a multi-year agreement. Scoping plans are now underway, and the locations of further stores are expected to be announced in the coming months.
