Bindawood Holding —
BinDawood Holding announces first international store opening in Bahrain
Lease agreement signed through Seef Properties
Danube store to open at Al Liwan Project in Hamala area
Location to open its doors in H2 2021
Jeddah, Saudi Arabia; 9 December 2020 – BinDawood Holding Co. (Tadawul: 4161 and the “Company”), one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom of Saudi Arabia (‘KSA’), supported by its strategic investor, Investcorp, a leading global manager of alternative investments, announced the signing of a lease agreement through Seef Properties, one of the leading integrated real estate development companies in Bahrain to open a Danube hypermarket store at Al Liwan Project, in the Hamala area, which is based in the Northern Governorate.
Ahmad AR. BinDawood, CEO of BinDawood Holding, said:
“The new Danube hypermarket in Bahrain is a great start in gaining an international foothold and strengthening our brand by creating a new food and shopping experience there. The opportunities in Bahrain, and specifically in the Al Liwan Project, is significant. We are going to be the anchor grocery retailer on this important project, providing employment for the local residents and creating healthy food options for a very large and dynamic community and the surrounding neighbourhoods. We are committed to providing our customers with a wide variety of fresh, authentic and high-quality foods, as well as the same customer service and in-store experience we are well-known for.”
The lease agreement will see Danube hypermarket occupy a 5,000 square meter space in the Al Liwan Project. The Danube store is expected to open its doors to customers in the second half of 2021. The store opening in Bahrain in 2021 will be the first international branch expansion for the grocery retailer and is in line with the company’s stated ambitions to strengthen its leadership in the grocery retail sector.
Mr Ahmed Yusuf, CEO of Seef Properties, added:
“We are delighted to welcome BinDawood Holding onboard Al Liwan Project, as this partnership will be a key attraction to a large segment of visitors to one of the most diverse and integrated real estate development projects in Bahrain. The agreement also reflects our commitment to attracting the finest commercial brands to fulfil the aspirations and requirements of the residents and visitors of Al Liwan Project, and to ensure we provide them with the best shopping options. It also embodies the importance of the project as an attraction to major enterprises that seek widening their clients base in the Kingdom of Bahrain.”
The Al Liwan Project occupies over 120,000 sq/m in Bahrain’s Northern Governorate and consists of a unique blend of shopping and entertainment destinations, with seven cinema halls and the largest entertainment centre in Bahrain.
About BinDawood Holding Co.
BinDawood Holding is one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom of Saudi Arabia. The Company has a total of 73 stores of which 51 are hypermarkets and 22 are supermarkets, each located strategically across KSA, operating two complementary brands: BinDawood and Danube.
About Seef Properties B.S.C.:
Seef Properties B.S.C. was established in the year 1999 as a as a public shared company listed on Bahrain Bourse and its operations are headquartered in the Kingdom of Bahrain, becoming a leader in the retail, hospitality, entertainment and real estate development sectors on the level of the Kingdom. Today, Seef Properties manages a large portfolio of assets, promoting its position as a distinguished commercial brand. The vision of Seef Properties is centered to its constant strives to become a leading real estate company in innovation and diversity, driven by the implementation of the highest standards and values to achieve its goal in excellence, and the satisfaction of shareholders, partners and clients. The Company’s message is centered to the development, acquisition and management of a real estate investment portfolio that serves the retail, entertainment and hospitality sectors.
BinDawood Holding – Investor Enquiries
Hassan Javaid, Head of Investor Relations [interim]
BinDawood Holding – Media Relations Enquiries
Siobhan McCarthy, Chief Communications Officer
Seef Properties – Media Relations Enquiries
Hussain Nasser – Business Partner at Media Scene