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SACO expansion plan

Fri Nov 20 19:03:32 AST 2020

SACO would like to announce its initial expansion plan for three years, it intends to open new stores in Saudi cities where there are no branches for SACO, as well as increasing the number of branches in the main cities from (25) stores by the end of 2015 to (35) stores by the end of 2018 with an increase of (10) stores. This plan is represented in the increase of the stores current area of 135356 Sqm as at 01/01/2016 to 188347 Sqm by the end of 2018.
The company intends to launch on-line sale service during the year 2016 where the impact on the financial results will appear in the year 2016.
The financing of this expansion plan will be through self-finance and Islamic bank facilities agreement.