Riyadh – Mubasher: BinDawood Holding Company has signed a non-binding memorandum of understanding (MoU) with Regional Group Company in Qatar for commercial franchise rights to open eight branches under BinDawood brand in Qatar.
The deal comes in line with BinDawood Holding’s strategy to expand in the GCC region, according to a bourse filing.
With a duration of 12 months, the agreement is expected to have a positive impact on BinDawood’s activities.
BinDawood Holding logged a 15.98% annual increase in net profits to SAR 60.54 million in the first quarter (Q1) of 2024 from SAR 52.20 million in Q1-23.
