Riyadh – Mubasher: Al Saif Stores for Development and Investment Company (Alsaif Gallery) and Jahez International Company for Information System Technology unveiled plans to expand their business in Kuwait and across the GCC.
Alsaif Gallery rented two branches in Kuwait to be inaugurated during the first quarter (Q1) of 2023 and Q2-23, respectively, according to a bourse disclosure.
In line with its strategy to expand outside Saudi Arabia, Alsaif Gallery is also working to open its first branch in Abu Dhabi this month.
The three branches are expected to reflect on Alsaif Gallery’s income statements during the beginning of their operation period.
In a separate bourse filing, Jahez commenced the pilot phase of its operations in Kuwait on 5 January 2023. This step will reflect on the company’s financial results during the first half (H1) of 2023.
In December 2022, Alsaif Gallery inked a SAR 35 million sale deal with Nawah Real Estate Investment Company.
Meanwhile, Jahez concluded the acquisition of Marn Business Information Technology Company’s shares at a total value of SAR 60 million.
