Riyadh – Mubasher: Dubai-based supermarket operator Spinneys has opened its first Saudi location in Riyadh on 43,520 square feet in the mixed-use La Strada Yard development in the An-Nuzha district.

The Riyadh store will produce bakery, meat and prepared meals on-site to ensure freshness, with the facilities supplying future Saudi Spinneys, according to a press release.

Spinneys expects to open up to 12 Saudi stores by 2028, capitalising on projected increases in commercial space.

Online delivery platform Spinneys Swift will launch shortly after the inaugural Riyadh opening.

Sunil Kumar, CEO of Spinneys, said: “We are delighted to be launching our unique premium offering in Saudi Arabia, a rapidly growing market with a diverse consumer base and a keen appetite for fresh, high-quality products.”

“Our entry into Saudi Arabia, a historic moment for a home-grown UAE brand, is driven by strong demand and positive market fundamentals, bolstered by the transformative Saudi Vision 2030, which has created an ideal environment for retail sector growth,” Kumar added.

In May 2024, Spinneys 1961 Holding, the official company name, successfully completed the bookbuilding and public subscription process for its initial public offering (IPO) on the Dubai Financial Market (DFM).

Spinneys plans to list 900 million shares, representing 25% of its total issued share capital.