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SACO to open 7 stores in KSA, GCC end 2020

SACO to open 7 stores in KSA, GCC end 2020
The company is working on adding 17,100 square metres to its retail areas during 2018.
SACO
4008
42.45% 37.75 11.25

Riyadh – Mubasher: Saudi Company for Hardware (SACO) on Tuesday announced starting its plan for 2019 and 2020, which aims at enhancing its financial position and expanding into the Kingdom and the GCC.

SACO will inaugurate seven stores in Saudi Arabia and the GCC by 2020, the firm added in its statement to the Saudi Stock Exchange (Tadawul).

After completing the plan by the end of 2020, the firm’s stores will reach 40 and their retail areas will rise by 40,000 square metres to reach 227,070 square metres.

SACO stated that it will add new categories, services, in addition to focusing on e-trade in a bid to achieve customer satisfaction.

The company is working on adding 17,100 square metres to its retail areas during 2018.

Financing SACO’s plan will be implemented through the operating inflows, along with taking advantage of other Sharia-compliant finance resources.

By 11:00 am KSA time, SACO’s stock rose 1.56% to SAR 117.