Alsaif Gallery Begins Expansion in Kuwait

Al-Saif Stores for Development and Investment Co. (Alsaif Gallery) announced the start of its expansion in Kuwait, where two branches were rented.

 

The first branch is expected to open in Q1 2023 and the second in Q2 2023, according to a statement on Tadawul.

 

The Kuwait expansion is in accordance with the company's strategy for the GCC region, Alsaif Gallery said, adding it is gearing up to open this month its first branch outside of Saudi Arabia, in UAE capital Abu Dhabi.

 

The financial impact of the first branch in Kuwait and Abu Dhabi is expected to reflect during Q1 2023, while the financial impact of the second branch in Kuwait will be on Q2 2023, the company also noted.