Spinneys to invest US$ 48 mn in new HQ in Dubai, UAE
Posted on 7th December 2017
According to *Tradearabia news report, locally-owned supermarket Spinneys has announced plans to invest Dh175 million ($48 million) in a brand new, state-of-the-art headquarters in Dubai, UAE, thus reinforcing its commitment to the Middle East region.
The announcement was made by Spinneys' incoming CEO, Matt Frost, who takes the helm in January, to reveal a series of exciting developments as part of its ambitious expansion plans for 2018 which include 18 new stores and thousands of new jobs for region by 2020.
Representing a substantial investment for the business, the new Spinneys headquarters will be located in Meydan with a number of key retail brands managed from the site, helping the retail group to build its brand and increase its reach across the region and beyond.
The site will also feature a new flagship store and an ultra-modern, on-site cookery school to aid culinary training and development. With construction already underway, the building is expected to be operational by April 2019.
The community-led supermarket has also announced details of a vigorous expansion strategy that will see the local retailer increase its footprint across the region from 61 to 79 stores over the next three years and the creation of 2,000 new jobs.
As part of the aggressive growth plan, Spinneys is forecasting more than 40 per cent growth by 2020, through a focus on expansion, continued innovation and digital product development.
New initiatives will also include a customer loyalty scheme, Spinneys & ME, which is due to be rolled in the first quarter of 2018.
As part of its 2018 plans, Spinneys has also revealed that it is undertaking a feasibility study to ascertain the possibility of bringing an online grocery service to the market, with the aim of launching an offering in the next few years.
Announced by the incoming CEO, the online grocery service is expected to revolutionise how people shop in the city, maximising its fresh food credentials to make it easier than ever to access fresh quality food at the touch of a button.
On its expansion strategy, Frost said: "The investment in our new headquarters sends a very clear message that the future of retail is bright in the UAE and Spinneys will be at the forefront of this development. As a home-grown brand with over 50 years in the region, we are proud of the success we have achieved to date, but the best is yet to come."
"Our appetite for growth is unparalleled and as we approach 2020, this will only increase as we look to expand our footprint across the region and beyond with new stores and a focus on digital innovation," he stated.
"Being an independently-owned retailer, we benefit from being able to listen to our customers and react to the changing shape of the retail landscape quickly and effectively, whilst still remaining true to our fresh food retailer values. We will continue to listen, adapt and grow to build a supermarket that truly sits at the heart of the community," he added.
*News source: http://tradearabia.com/news/CO...Back to all Construction News
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