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After Dubai, Aleid Foods in Riyadh
Aleid Foods Company announced the establishment of Riyadh-based Company Aqtar Al Khaleej, to be the outset of the company’s operational expansion within the Kingdom of Saudi Arabia, as part of its regional expansion strategy Goals_25.
Aleid Foods CEO, Eng. Mohammed Al-Mutairi said that the establishment of Aqtar Al Khaleej Company comes within the first phase of the Goals_25 strategy, which aims for Gulf market expansion and the presence in dynamic and influential cities, explaining that it is a vital step for the company’s operational expansion inside Saudi Arabia starting from Riyadh, the capital, and further revealing that an advanced operational program will be developed for Aqtar Al Khaleej Company by building an new structure for its operations to diversify its product basket to include frozen food, and will be implemented by a proficient team with distinctive experiences in food trade and supply chain management according to regional and international standards.
Al-Mutairi added that Aleid’s ambition for Gulf market expansion is achievable with the company’s entering the Saudi market, the region’s largest, most significant, and fastest-growing market, with a growth rate expected to reach 6% in the next five years, taking reference to statistics that indicate that the consumption of food goods in the Kingdom of Saudi Arabia constitutes 60% of the total food consumption in the Gulf for several reasons, including the fact that KSA has the largest population in the Gulf with 35.84 million population representing 70% of the total population in GCC countries, and with 37.44% of them being under the age of 25.
Al-Mutairi concluded by stressing the company’s consistent efforts to achieve the Goals_25 plan and its commitment to continuous growth which supports the value of business sustainability while achieving returns for shareholders and partners.