The Riyadh-based Al-Othaim Trading Group has recently announced its plans to open 500 new mini-market stores throughout Saudi Arabia in the near future. Established in 1956, the Al-Othaim group currently operates 20 supermarkets and 180 concession stores. Two shopping malls, each with a 200-store capacity, were to open in June 2001.
The new initiative is set to enlarge the company’s employee base, currently at 1600 people, with the most promising job opportunities open to Saudi youngsters who would be awarded management of the stores, according to Al-Sharq Al-Awsat. This employment policy is in line with the government’s recent Saudization ruling, determining that private sector employers must ensure that 25 percent of their workforce is Saudi nationals.
The Al-Othaim group controls a significant share of the foodstuff market and the commercial and recreational complex market. It also deals in the fast food and restaurant sectors and specializes in transporting large volumes of food and household products. The group is reportedly looking into widening its range of franchises, including retail and specialty stores.
The Saudi ministry of commerce has recently approved conversion of the Al-Othaim Trading Group into a limited liability partnership in preparation for its transformation into a closed joint stock company. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
